Individual Islamic Deposit Account
Your investments should go where it matters.
Invest ethically with Waafi Bank’s Shariah-compliant investment account product.
Affordable Minimum Deposit
USD 5000
Flexible Tenure
12, 24 or 36
months
Ethical Investments
Grow your savings in line with your ethical principles. Our shariah-compliant approach ensures your money works for you with integrity.
- Based on Mudarabah concept
- Interest-free and no speculative trading
- Ethical investments and profits
- Islamic profit-sharing model
Global Opportunities
Diversify your savings portfolio into the global Islamic market. Gain access to new and niche opportunities at your convenience.
- Access to niche global Islamic market
- Invest in ethical businesses abroad
- Link to your savings account
All Online
There is no counter for you to line up at—ever. We operate completely online. Just email us your application form to open an Islamic Deposit Account.
- 24/7 access
- Global accessibility
- Online banking
The general criteria to opening an account is detailed below:
- Open to individuals above 18 years old
- Has an active existing Individual Savings Account
No additional documents needed. With an active existing Individual Savings Account, you only need to send in an application form.
Frequently asked fees and charges applied for IIDA is detailed below:
| Account Opening Fee | Free |
| Account Maintenance Fee | Free |
| Minimum Deposit to Open | USD 5000 |
| Profit Sharing Ratio | 50:50 |
| Tenure | 12, 24 or 36 months |