Businesses tend to enjoy flexibility while remaining cost effective. Business Account (BA) offers flexibility of a conventional current account including unlimited transactions option and offers value added services in a Shariah complaint manner. Additionally customers are entitled to a share of distributed profit as per assigned weightages.

• Business Account (BA) will be opened in Pakistani Rupees.
• The account can be opened with PKR 1,000/-.
• The profit payable will be calculated on daily average balance and payment of profit will be on monthly basis.
• The share of profit in this account type will be minimal keeping in view that its main purpose is to provide low cost banking to the depositor under exemption allowed by SBP (IBD Circular No 3 of 2012).
• Zakat & other levies will be applicable as per governing laws
• BA holder will be eligible for 100% waiver of Schedule of Charges for the following services
  • No limit on number of Transactions
  • Online Transaction Facility
  • Debit Card Issuance
  • Cheque Book Issuance
  • Issuance of Pay Order
  • Cancellation of Pay Order
  • SMS Alerts
  • Duplicate Pay Order Issuance
  • Duplicate Account Statement
• Services listed above will be offered on the basis of maintaining a daily average balance of at least Rupees Twenty Five Thousand only (Rs 25,000/-). Number of free transactions allowed will be determined by the bank from time to time, and on case to case basis, and will be timely communicated to the account holder.

Contract & Mechanism:
BA will be accepted on the basis of Mudarabah (form of partnership). The Bank will be the Mudarib and the Investment Account Holders (IAHs) / Depositors will provide funds for investment to earn Halal profit / benefit, identified as Rab-ul-Maal. The funds so deposited will be invested in an Investment Pool which will be managed by the Bank in capacity as Mudarib (Managing Partner).
The IAH is eligible to share Profit from the respective investment pool according to his / her deposit in a predetermined ratio adjusted by weightages assigned to each category of remunerative deposits. This is calculated on calendar month basis. The Profit or Loss declared by the Bank, as stipulated herein, shall be considered as final and binding on all the account holders. The Bank in this capacity as Mudarib will also be entitled to a share of the distributable profit.
The Bank may also choose to invest its own Funds. In this case the Bank will share profit in addition to its share as Mudarib. Accordingly, in case of loss in the respective pool, it (Loss) will be shared between the IAHs and the Bank as per ratio of their investments in that pool.

Who Can Participate?
Account may be opened in the name of persons and bodies mentioned below upon being properly introduced in a manner approved by the Bank (provided that their source of income is not received from any prohibited source as per the Shariah principles):

• Individuals
• Sole Proprietorship concerns
• Partnership Firms
• Limited Companies (Private & Public)
• Trust

Value Added Services.

• Outward Clearing Charges for Cheques returned unpaid.
• Internet Banking Facility.
• E-Statement of Accounts.

Terms & Conditions apply