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Holers of these accounts may benefit from the phone banking system, the
Faisal online internet banking services through the bank’s web site and
the issuance of an ATM and Visa Electron Cards which all provide
instantaneous access to the customer’s accounts and allow for the
implementation of electronic transactions worldwide. Furthermore, the bank
has deployed a growing network of ATM’s to provide its customers with
access to their accounts free from charge 24 hours per day and 7 days per
week all the year round.
Type of Accounts
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 Current Accounts:
 Holders of these accounts are free to deposit and withdraw by virtue of
cheques that could be obtained from the bank or by teller services available
in all the bank's branches with the required speed and in all ease.
Collecting cheques and bills for the holders of current accounts in Egypt or
abroad.
Paymed of periodical commitments on behalf of the holders of current accounts as
per their instructions. For example, the payment of phone bills, or installments
or other commitments to be paid to institutions as indicated by the client.
The bank may open new accounts for the clients working abroad after having
their signatures endorsed on the applications for opening accounts from
authorized bodies (correspondent banks - embassies and consulates).
Accounts may be opened by virtue of an official procuration. The authorized
agent may not withdraw from the account before the signature of the original
account holder has been registered.
Free Investment Accounts in Egyptian pounds and in foreign currencies :
Consist of 3-months investment deposits that are renewable automatically. These deposits may be in Egyptian pounds or in any foreign currency according to the following system :
The minimum limit for the deposit is 1000 Egyptian pounds or USD 500 (SAR 2000
or GBP 250).
The term of the investment deposits is three months. The revenue is calculated
from the beginning of the month following the date of deposit. It is possible
to withdraw and deposit at any time.
The accrued revenue on the account is paid following the end of every quarter of
the financial year of the bank and is credited to :
Either the current account of the depositor.
Or the investment account of the depositor
according to a written request and only after the accrued quarterly revenues
exceed the minimum limit for a deposit
In case of withdrawals from the investment account before the end of the
quarter-year, no revenue is calculated on the amount withdrawn during the
quarter period in which the withdrawal has been made.
Investment
Accounts in Euro :
It is an open term investment account sharing in the activity results of
the bank subject to the rulings of islamic Shari’ah. The privileges of this
account are :
Minimum limit for opening the account is Euro 500.
Returns are distributed every three months subject to the actual results of the
bank.
An annual return that is competitive with the returns the Euro currency in the
international markets.
Accounts may be opened in the names of minors, or as joint accounts.
Possibility of winning a prize for free Umrah at the lots performed by the bank
twice annually
Joint Accounts :
Such an account is subject to the same conditions and rules of the current accounts or the Investment accounts of a three-month term according to the client's wish. The privileges of such accounts are :
Any of the partners is free to deposit or withdraw from this account according
to what is agreed upon between them.
The possibility of opening a joint account for a husband and wife or for
any other persons.
Investment Accounts in the Name of Minors :
The account is opened in the name of the minor under the father's custody.
The father has the right to withdraw and deposit till the minor becomes
of age (21 years).
Investment accounts in the name of minors may be opened by a third party
as a donation to the minor. The third party opening the account has the
right to withdraw or deposit freely till the minor becomes of age (21 years).
It is possible to open an account for an adolescent minor (from 16 - 21
years) in the minor's name provided that he/she informs the bank of the
source of the money. The minor may withdraw and deposit but doesn't have
the right to use or obtain cheques.
Investment accounts for specific purposes :
The bank invites its clients to deposit their money in specialized investment
accounts for the purpose of participating in funding a given operation
or a major project. Such accounts are of a given term defined by the feasibility
study of the project and depends on the period of implemention of the project.
Holders of these accounts share in the actual profit of the project after
its complete implementation and marketing.
Holders of these accounts may obtain a benevolent loan from the bank
guaranteed by their accounts in accordance with the rules that the bank
sets for every project. They may also purchase their requirements (through Murabaha sale) with the balance of these accounts as a guarantee.
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