Pak Rupee Chequing Accounts

Features Details
Name of Product: Askari Halal Saving and Notice Account (AHSAN)
Underlying Mode: Mudarabah
Acceptable Currency: Pak Rupees
Type of Product: Savings (chequing account)
Minimum Balance Required: Rs.100 (for account opening only)
Tenors: Minimum: N/A
Maximum: N/A
Profit Calculation Basis: Average monthly balance
Periodicity of Profit Distribution: Monthly
Service Charges (if any): As per Schedule of Charges – Islamic
Other Features:
  • No minimum balance requirement/charges for maintenance of account
  • No minimum balance requirement for profit applicability
  • Withdrawals of funds are subject to written 24 hours notice for Rs. 10-200 million deposit and 48 hours notice for Rs. 200 million+ deposits
Features Details
Name of Product: Askari Halal Saving Account (AHS)
Underlying Mode: Mudarabah
Acceptable Currency: Pak Rupees
Type of Product: Remunerative Current Account (chequing account)
Minimum Balance Required: Rs.100 (for account opening only)
Tenors: Minimum: N/A
Maximum: N/A
Profit Calculation Basis: Average monthly balance
Periodicity of Profit Distribution: Monthly
Service Charges (if any): As per Schedule of Charges – Islamic
Other Features:
  • Free value added services (shall be amended from time to time and conveyed accordingly):
    • Issuance of Visa Debit/ATM Card (for individual account only)
    • Internet Banking facility (for individual account only)
    • SMS alerts for cash withdrawal through ATM and Internet Banking transactions (for individual account only)
    • Online funds transfer
    • Issuance of cheque book
    • Local remittances (PO/DD/TT)
    • Same day clearing
    • Inter-city clearing
    • Outward cheque returned unpaid in clearing
    • Duplicate account statements
  • Profit rate on this product shall be very nominal
  • No minimum balance requirement/charges for maintenance of account
  • No minimum balance requirement for profit applicability
Features Details
Name of Product: Ahsan Munafa Account
Underlying Mode: Mudarabah
Acceptable Currency: Pak Rupees
Type of Product: Savings (chequing account)
Minimum Balance Required: Rs.100 (for account opening only)
Tenors: Minimum: N/A
Maximum: N/A
Profit Calculation: Daily product basis
Periodicity of Profit Distribution: Monthly
Service Charges (if any): As per Schedule of Charges – Islamic
Other Features:
  • No minimum balance requirement/charges for maintenance of account
  • No minimum balance requirement for profit applicability
Features Details
Name of Product: Askari Halal Saving and Notice Account (AHSAN) – Pensioners
Underlying Mode: Mudarabah
Acceptable Currency: Pak Rupees
Type of Product: Savings (chequing account)
Minimum Balance Required: Nil (no amount required for account opening)
Tenors: Minimum: N/A
Maximum: N/A
Profit Calculation: Daily product basis
Periodicity of Profit Distribution: Monthly
Service Charges (if any): As per Schedule of Charges – Islamic
Other Features:
  • No minimum balance requirement/charges for maintenance of account
  • No minimum balance requirement for profit applicability
Description Specific Product Details
Underlying Mode Mudarabah
Acceptable Currency Pak Rupees
Type of Product Savings (chequing A/c)
Minimum Balance Rs.100/= (for account opening only)
Profit Calculation Profit payable on monthly average balance
Profit Distribution Monthly
Who Can Apply Authorized dealers of Fauji Fertilizer Company Limited (FFCL)
 Service Charges (if any) As per Schedule of Bank Charges – Islamic Banking
Other Features
  • Free value added services:
    • Issuance of first ATM Card (only for individuals & proprietary accounts)
    • Issuance of first cheque book
    • E-Statement facility
    • I-Net Banking facility (only for individuals & proprietary accounts).
    • SMS Alerts facility (both debit & credit transactions)
  • No minimum balance requirement/charges for maintenance of account
  • No minimum balance requirement for profit applicability
  • Nationwide on-line access to accounts
Description Specific Product Details
Underlying Mode: Mudarabah
Acceptable Currency: Pak Rupees
Type of Product: Remunerative Current Account (chequing A/c)
Minimum Balance: Rs.100/= (for account opening only)
Profit Calculation: Profit payable on monthly average balance
Profit Distribution: Monthly
Target Customers: Authorized dealers of Fauji Fertilizer Company Limited (FFCL)
Service Charges (if any): As per Schedule of Bank Charges – Islamic Banking
Other Features:
  • Free value added services
    • Issuance of first ATM Card (only for individuals & proprietary accounts)
    • Issuance of first cheque book
    • E-Statement facility
    • I-Net Banking facility (only for individuals & proprietary accounts)
    • SMS Alerts facility (both debit & credit transactions)
    • Waiver of Financing Facility processing charges
    • Issuance & cancellation of demand drafts & pay orders
    • Issuance of duplicate demand drafts & duplicate pay orders
    • No charges on inter-branch online withdrawals
    • No charges on inter-branch online deposits
    • No charges on inter-branch online transfers
    • No charges on collection of cheques through NIFT
  • Nationwide on-line access to accounts
  • Profit rate on this product shall be very nominal
  • No minimum balance requirement/charges for maintenance of account
  • No minimum balance requirement for profit applicability
Description Specific Product Details
Underlying Mode: Mudarabah
Acceptable Currency: Pak Rupees
Type of Product: Savings (chequing A/c)
Minimum Balance: Rs.10M (minimum investment amount)
Profit Calculation: Daily product basis
Periodicity of Profit Distribution: Monthly
Target Customers: Islamic Financial Institutions only
Service Charges (if any): As per Schedule of Bank Charges – Islamic Banking
Other Features: Withdrawals of funds are subject to written 24 hours notice for Rs.10-200M deposit and 48 hours notice for Rs.200M+ deposits