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Profit Sharing Mechanism for Distribution of Profit for the month of March 2021

The Bank is currently offering Term Deposits, Saving Deposits, AL Habib Tijarat Account (Current Remunerative), AL Habib Apna Individual Account (Current Remunerative) under the principle of Mudarabah.

The Bank will calculate the profit of the deposit pool after every month end. Profit will be distributed at the Net Income level i.e. Gross Income less direct expenses, write-offs/charge-offs and loss on sale of investments. In case of comingling of Bank’s equity with depositors’ fund in pool, the Net Income/Loss of Pool shall be allocated between the Bank’s equity and the depositors’ fund in proportion to their respective share in the pool.

Net Income of the deposit pool will be shared between the Bank (Mudarib) and Depositors (Rab ul Maal) on the basis of a pre-determined profit sharing ratio.

The Bank’s profit sharing ratio will be 50% of Net Income and Depositor(s) profit sharing ratio will be 50% of Net Income after the allocation of profit to Bank’s equity in proportion to the respective share in the pool.

The profit is distributed among the account holders on the bank’s predetermined weightages, announced at the beginning of the month based on their respective category/tiers.

At the end of the month, the Bank may unilaterally reduce its profit sharing ratio for the benefit of all the deposit categories in a pool.

In case of loss, as per the rules of Mudarabah, the deposit pool will share the loss in the ratios of investment of depositor(s).


Weightages declared for the month of March 2021 are
S. # Products Weightages Assigned
1. Savings Deposit - PKR 0.805
2.AL Habib Islamic Armed Force Pensioner Savings Account0.805
3. AL Habib Islamic Asaan Account (Profit paid monthly) 0.805
4. AL Habib Islamic Asaan Remittance Account (Profit paid monthly) 0.805
5. Mahana Amdani Savings Account 0.805
6. AL Habib Tijarat Account (Current Remunerative) 0.002
7. AL Habib Apna Individual Account (Current Remunerative) 0.002
8. AL Habib Islamic Young Saver Account 1.095
9. AL Habib Senior Citizen Account 1.150
10. AL Habib One Year Senior Citizen Account (Profit paid monthly) 1.160
11. Term Deposit - 7 Days 0.900
12. Term Deposit - 1 month (1 - 9,999,999) 1.005
13. Term Deposit - 1 month (10,000,000 - 24,999,999) 1.025
14. Term Deposit - 1 month (25,000,000 - 49,999,999) 1.045
15. Term Deposit - 1 month (50,000,000 - 99,999,999) 1.065
16. Term Deposit - 1 month (100,000,000 & above) 1.080
17. Term Deposit - 3 month (1 - 9,999,999) 1.040
18. Term Deposit - 3 month (10,000,000 - 24,999,999) 1.050
19. Term Deposit - 3 month (25,000,000 - 49,999,999) 1.095
20. Term Deposit - 3 month (50,000,000 - 99,999,999) 1.170
21. Term Deposit - 3 month (100,000,000 & above) 1.120
22. Term Deposit - 6 month (1 - 9,999,999) 1.100
23. Term Deposit - 6 month (10,000,000 - 24,999,999) 1.110
24. Term Deposit - 6 month (25,000,000 - 99,999,999) 1.130
25. Term Deposit - 6 month (100,000,000 & above) 1.160
26. Term Deposit - 1 year (Profit paid monthly) 1.090
27. Term Deposit - 1 year (1 - 9,999,999) (Profit paid at maturity) 1.090
28. Term Deposit - 1 year (10,000,000 - 24,999,999) (Profit paid at maturity) 1.100
29. Term Deposit - 1 year (25,000,000 - 49,999,999) (Profit paid at maturity) 1.150
30. Term Deposit - 1 year (50,000,000 - 199,999,999) (Profit paid at maturity) 1.180
31. Term Deposit - 1 year (200,000,000 & above) (Profit paid at maturity) 1.210
32. Term Deposit - 3 years (Profit paid monthly) 1.090
33. Term Deposit - 3 years (1 - 9,999,999) (Profit paid at maturity) 1.155
34. Term Deposit - 3 years (10,000,000  - 24,999,999) (Profit paid at maturity) 1.165
35. Term Deposit - 3 years (25,000,000 - 49,999,999) (Profit paid at maturity) 1.175
36. Term Deposit - 3 years (50,000,000 - 199,999,999) (Profit paid at maturity) 1.185
37. Term Deposit - 3 year (200,000,000 & above) (Profit paid at maturity) 1.210
38. Term Deposit - 5 years (Profit paid at maturity) 1.200
39. SBP - Salary & Wages 0.290
40. IFRE (Islamic Finance for Renewable Energy) 0.410
41. ILTFF - 3 Years - Textile 0.710
42. ILTFF - 5 Years - Textile 0.510
43. ILTFF - 10 Years - Textile 0.410
44. ILTFF - 3 Years -  Non Textile 0.900
45. ILTFF - 5 Years - Non Textile 0.710
46. ILTFF - 10 Years - Non Textile 0.610
47. ITERF (Islamic Temporary Economic Refinance Facility) 0.180
48. Due to PO - IBB 0.765
49. AL Habib Islamic Armed Forces Savings Account0.805
50. Roshan Digital Account0.805

 

For Foreign Currency Deposit Pool

The Bank’s profit sharing ratio for FCY Pool (USD) will be 95% of the Net Income and Depositor(s) profit sharing ratio will be 5% of the Net Income.

The Bank’s profit sharing ratio for FCY Pool (GBP & EURO) will be 99% of the Net Income and Depositor(s) profit sharing ratio will be 1% of the Net Income.

S. # Product Weightage Assigned
1 Savings Deposit - US Dollar / Pound Sterling / Euro (0 - 4,999) 0.21
2 Savings Deposit - US Dollar / Pound Sterling / Euro (5,000 - 9,999) 0.63
3 Savings Deposit - US Dollar / Pound Sterling / Euro (10,000 - 24,999) 0.84
4 Savings Deposit - US Dollar / Pound Sterling / Euro (25,000 - 99,999) 1.03
5 Savings Deposit - US Dollar / Pound Sterling / Euro (100,000 & Above) 1.25
6 Roshan Digital Account (US Dollar / Pound Sterling / Euro) (0-4,999) 0.21
7 Roshan Digital Account (US Dollar / Pound Sterling / Euro) (5,000 - 9,999) 0.63
8 Roshan Digital Account (US Dollar / Pound Sterling / Euro) (10,000 - 24,999) 0.84
9 Roshan Digital Account (US Dollar / Pound Sterling / Euro) (25,000 - 99,999) 1.03
10 Roshan Digital Account (US Dollar / Pound Sterling / Euro) (100,000 & Above) 1.25

The above mechanism has been approved by our Resident Shariah Board Member (RSBM).