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It is possible to open general investment accounts in the main currencies: the Egyptian pound, the U.S. dollar, the Euro, the Sterling, the Saudi Riyal under the condition that the amount is not less than 200 dollars or the equivalent sum in other currencies. The sums deposited in such accounts yield revenue that is distributed at the end of every quarter-year term after issuing the quarter-year budget and specifying the net earned profit to be distributed among those holding general investment accounts. The share of the client in the revenue depends on the number of the full months in which the money has been kept in the account till the end of the quarter-year term. The client may withdraw all or part of the deposited sum when needed and this is considered a partial or full withdrawal from the general Mudaraba during the quarter-year term in which the withdrawal has occurred.
The Two-Year Fixed Investment:
The client may set fixed deposits whenever he obtains a sum exceeding 700 Egyptian pounds and wants to save it. The client may request the automatic renewal of the deposit and directing the profit resulting from such a deposit after every quarter-year term, according to his wish, whether to a current account or a general investment account or the 2-year fixed investment account under the condition of exceeding the minimum limit for the investment account. The profits distributed on such accounts are higher than those distributed among the general investment accounts due to the possibility of directing its funds to better investments. In case the client needs to withdraw the sum of the deposit before the end of the two-year term, the revenue shall be calculated on the past period on the basis of the revenue paid for the general investment account.
The Three-Year Saving Certificates in Egyptian Pounds:
This saving certificate is a three-year term account in which the investment realizes higher profit probabilities than the other accounts due to the stability of such accounts and the possibility of directing it to medium and long-term operations that produce higher profit.
Certificates are issued in Egyptian pounds of the value of 500 L.E and its multiples.
It is permissible to buy in the names of other people and names of minors.
The certificates kept at the bank are automatically renewed for another term at the due date should the client desire so.
The profit is calculated at the end of every quarter-year on the basis of the actual results of the operations.
In case of keeping the certificates at the bank, the revenue is automatically added to the current account of the client and the revenue may be added to the general investment account in case of prior-instructions from the client provided that the revenue is not less than the minimum limit for the deposit.
The value of the certificate may be retrieved before the due date after at least six months from the date of issuance such that the paid profit for the retrieved sum is readjusted on the basis of the revenue paid for the general investment accounts with a reduction of 0.5% annually and deducting the difference from the client's account.
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