bankofabyssinia.com

Iqqub (Sunuduq) Saving Account

A Shari’ah-compliant saving account designed to support traditional Iqqub (Sunuduq) groups in managing pooled funds efficiently and securely. The account enhances operational convenience, strengthens transparency, and provides value-added benefits to organizing members.

Product Features

  • Enables safe collection and management of pooled Iqqub contributions under the Wadi’ah arrangement.
  • The Bank provides complimentary cash handling and cash collection services to streamline the Iqqub’s financial operations.
  • Iqqub groups may access designated workspaces at selected branches to conduct their sessions or organizing activities.
  • Prize amounts or winning rounds are deposited directly into the winner’s account, ensuring transparency and secure distribution.
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