Iqqub i deposit account (Sunuduk) shall refer to “WadiahYadDhamana” based specialized deposit offering of the Bank available for Iqqubs. Iqqubs are saving clubs that combine a lottery and bank, based on pre-established social ties. They consist of homogeneous groups that participate with varying capital contributions according to the purpose of the Iqqub and the economic status of its members. Accordingly, they can be categorized under big, medium or small sizes; 

• For members of big size Iqqub, the Bank may facilitate personal financing for the organizers as per the Bank’s pertinent policy and procedure through Murabaha mode of financing with varying discount rates on applicable profit rates to respective financing type; 
• Facilitating financial transaction using payment and collection system platform (PCSP); and with standing instruction and cash collection to Iqqub-i account.  

• • Providing different types of giveaway materials; 
  • Issuance of cheque book (as with special saving account) for Big Iqqub-i regardless of the amount of deposit marinated in the account; 
  • On sight cash collection when it is deemed necessary; 
  • Lending cash counting machines for Big Iqqub-i when required. Big Iqqub-I shall undertake to use the machine properly; 
  • When situations permit, availing space for the Big Iqqub-i account holders (for example within IFB dedicated branches) to hold their meeting and to perform other Iqqub related activities in such a way as stated hereunder

• For members of medium Iqqub, the Bank may facilitate personal financing for the organizers as per the Bank’s pertinent policy and procedure through Murabaha mode of financing with varying discount rates on applicable profit rates to respective financing type; 
• If the medium Iqqub is aimed for the purchase of home appliances from specific reputable equipment supplier’s business, the Bank may arrange a discount on the product; 
• The Bank shall facilitate the transaction of medium Iqqub with standing instruction to deduct from members’ account to medium Iqqub-i periodic contribution. 

• For members of small iqqubs the Bank shall: arrange for delivery of Wadia Muday – Abyssinia free of charge; o monthly maintenance fee; introduce 50% discount on the bank’s service charge (commission) of local money transfer if the amount is to be sent/deducted from IFB small Iqqub-i saving accounts maintained in the bank, and provide specially designed ATM card which will be issued free of charge.