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If you are looking for the best and easiest way to invest, Bank Albilad is your destination. Now you can get higher returns through our Shariah compliant Investment Wakalah program.
What Are You Waiting For? Open your Investment Wakalah account now via Albilad App, Al Bilad net We are also pleased to open Investment Wakalah account for you when you visit any of Bank Albilad branches located all over the Kingdom.
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What are the features of the investment account?
- No fees
- Monthly profit payment option has been added while creating a new deal where a customer can book a Wakalah deal with profits paid on monthly basis.
- Profit Rates on Wakalah and Awaed Albilad Account are now based on 3 deposit slabs. The higher the investment amount the higher the profit rate.
- The Deposit Slabs applicable are provided below:
 100,000 to 999,999.99- 1,000,000 to 4,999,999.99
- 5,000,000 and above
- Higher returns on your money.
- Zakat Exempted product since the amounts deposited by customers are invested in Non-Zakatable assets & Paid Zakatable assets.
- Ability to open the investment account online without the need to visit the branch or by visiting Bank Albilad branches located all over the Kingdom.
- A sharia compliant alternative option to the conventional investment deposits.
- Available in two currencies: Saudi riyal - US dollar.
- Flexible investment periods in ; one month - 2 months - 3 months - 4 months - 6 months - 12 months until 2 years.
- Flexible investment periods in USD; one month - 3 months - 6 months and 12 months.
- Ability to cancel your investment account before the due date (contract end date *T&Cs apply).
- Eligibility of receiving part of the Profit for the completed investment period based on the holding period in case of early cancellation of Wakalah deal *T&Cs apply.
- Low risk investment account.
- Ability to select auto renewal with principal only.
- Ability to select auto renewal with principal and profit.
- Available for Saudis and non-Saudi
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Example of a profit distribution for Investment Wakalah account in 
| Number of months | Anticipated Profit Rate | Anticipated Profit Return to the Customer in | 1 | 4.70301% | 391.92 | 2 | 4.91290% | 818.82 | 3 | 5.01290% | 1,253.23 | 4 | 5.11290% | 1,704.30 | 6 | 5.41417% | 2,707.09 | 12 | 4.99852% | 4,998.52 | 18 | 4.42620% | 6,639.30 | 24 | 4.03670% | 8,073.40
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Calculation of Anticipated Profit Amount: (Investment Amount x Number of Days x in the Investment Period x Expected Profit Rate %) / (360) *1 Month = 30 days, 2 Months = 60 days, 3 Months = 90 days, 4 Months = 120 days, 6 Months =180 Days, 12 Months = 360 days, 18 Months =540 days, 24 Months = 720 days Above example is calculated based on the minimum investment amount: 100,000
Example of a profit distribution for Investment Wakalah account in USD
| Number of months | Anticipated Profit Rate | Anticipated Profit Return to the Customer in USD | 1 | 4.00485% | 100.12 | 3 | 4.01428% | 301.07 | 6 | 4.10488% | 615.73 | 12 | 3.90344% | 1,171.03
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Calculation of Anticipated Profit Amount: (Investment Amount x Number of Days* in the Investment Period x Expected Profit Rate %) / (360) *1 Month = 30 days, 3 Months = 90 days, 6 Months =180 Days, 12 Months = 360 days, 18 Months =540 days, 24 Months = 720 days The above mentioned Expected Profit Rates are provided as an indication and it does not guarantee the same Profit Rates shall be available at the time of Investment. These Expected Profit Rates are based on Wakalah and change every day.
Above example is calculated based on the minimum investment amount: 30,000 USD
The actual return on Wakalah account for June is 4.45%.
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How can I open the investment account online via Albilad app?- Log in to Albilad app Albilad app
- Select accounts through home page or select cart
- Select accounts.
- Press on (deposit with albilad and gain periodic returns).
- Select Investment Wakalah Account.
- Choose account to be deducted.
- Choose profit payment option. (Maturity or Monthly).
Input investment amount and choose investment period . Choose renewal option. Complete the steps to open the account.
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How can I open the investment account online via Albilad net?
- Log in to
Albilad net
- Select Investment Wakalah from the main menu.
- Select create new wakalah.
- Choose Wakalah type (Investment Wakalah).
- Choose profit payment option. (Maturity or Monthly)
- Input investment amount and choose investment period
- Choose renewal option
- Complete the steps to open the account
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What are the conditions for an investment account?
To view the full terms and conditions, click here.
** In case of cancellation of the Investment Wakalah Account before the due date (contract end date), a revised profit amount shall be calculated for the holding period (completed period of the investment contract excluding the remaining period) as per table above and credited to customer’s current account. In case of monthly profit payment, the adjusted Investment Amount shall be credited to customer’s current account after deducting the extra profit amount
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FAQsIs the investment Wakalah account consistent with the sharia committee standards?The sharia committee of Bank Albilad has approved the product, and all Bank Albilad products are subject to their approval.
What is the minimum term for Investment Wakalah account?The
minimum term of Investment Wakalah account is one month for Maturity option
& 6 months for Monthly profits option.
What is the maximum period for Investment Wakalah account?The maximum period for Investment Wakalah account is 2 years.
What is the expected profit that I can earn from Investment Wakalah account?The expected profit rate in the Investment Wakalah account varies according to the investment period and the amount.
What is the minimum amount required to open Investment Wakalah account?100,000 or 30,000 USD.
Who can open Investment Wakalah account?Currently, any individual customer of AlBilad can open the Investment Wakalah account through his account in Albilad App or Albilad Net and Albilad Branches
Can the customer withdraw the Investment Wakalah account before the expiration of the period?Yes, the customer can cancel the Investment Wakalah Account before the specified maturity date (contract end date), a revised profit amount shall be calculated for the holding period (completed period of the investment contract excluding the remaining period) as per product conditions mentioned above and credited to customer’s current account. In case of monthly profit payment, the adjusted Investment Amount shall be credited to customer’s current account after deducting the extra profit amount.
Are there any fees for opening Investment Wakalah account?Currently there is no fee.
Do I have to visit the branch to open Investment Wakalah account?No,You can open your account through Albilad App or Albilad Net
What are the requirements for opening Investment Wakalah account?You just need to have a current account with Bank Albilad.
Can I open more than one Investment Wakalah account?Yes, it is possible to open up to 5 accounts in one day
What currencies can Investment Wakalah be opened in?The and/ US Dollar
How has the Investment Wakalah account changed to an account in which zakat is not due?The investment amount received in Investment Wakalah is invested in Non-Zakatable assets&
Paid-Zakatable assets.
Does the bank pay zakat on behalf of the customer? No, the bank does not pay zakat on behalf of the customer, but rather the invested amounts are invested in Paid-Zakatable assets&
Paid-Zakatable assets
Does the non-obligation of zakat include all periods available for investment in the account?Yes, because the money is invested in Paid-Zakatable assets.
Is there a Sharia approval for this enhancement?Yes, the approval of the Sharia Committee of Bank Albilad was obtained for this, and all Bank Albilad products are subject to the approval of the Sharia Committee. Can the bank pay zakat to me while I pay it myself?No, because the exemption is linked to paid-Zakatable assets
When are the monthly profits deposited? On the first day of each month.
How are the profits calculated if the investment account is created in the middle of the month, for example on the thirteenth? When choosing the monthly profit payment option, for the first month the profit is calculated for the remaining days of the month in this case 18 days and credited on the 1st of following month, next month onwards full month profit is calculated and credited to customer’s current account.
Can I change the profit payment option after creating the account? No, the profit payment option cannot be changed once the account is created.
Can the account be closed with the monthly profit payment option? Yes, the account can be closed, but there will be an adjustment for the additional profit paid from the investment amount (Principal Amount).
What are the available investment tenors for the monthly profit payment option? 6 months, 12 months, 18 months & 24 months
What are the available investment tenors for the maturity payment option? 1 month, 2 months, 3 months, 4 months, 6 months, 12 months, 18 months & 24 months
What are the products that have the monthly profit payment option? The monthly profit option is available in both Zakat-exempt (Investment Wakala) and non-Zakat-exempt (Awaed Albilad) products.
Is the monthly profit option available in US dollars?Answer: No, the monthly profit option is available in Saudi Riyals only.
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