IFB FCY Deposit Account

FCY Deposit Account

Is a type of foreign currency account maintained in hard currency and can be used locally or transferred abroad in foreign currency without the necessity of obtaining a foreign exchange permit.

Product Features and Benefits

  • Deposits are accepted in the form of foreign currency only
  • Depositors shall be expected to sign and confirm the sources of their deposits are from permissible
  • This account works under al-wadiah yad dhamanah principle (not Amanha).
  • The customer can use ATM, Pos, Mobile, Internet Banking service, and any other services similar to conventional Bank’s
  • The Bank, at its absolute discretion, can provide gift (monetary or in kind) to holders of such account as token of appreciation
  • The gift paid to this account holder shall not be fixed, consistent and is not part of the contract
  • Under the contract of Wadiah, the custodian, i.e., the Bank is not allowed to mention or to promise any reward on the deposit received
Call Now Button
Facebook
LinkedIn
Instagram
Telegram