FAQs
What documents are required to open an Albilad account?
Documents needed for opening an Albilad account are the following:
- For Saudi - proof of valid identification is required in the form of their national identity card
- For non-Saudis - their Iqama and passport are required.
- For entities - the commercial register with documents proving the identity of owner or representatives of the entity.
How the profit is calculated and distributed?
Profits are distributed every month. Expected return on the Albilad account is according to the return of Albilad treasury and corporate stock speculations.
Example for Albilad account in SAR as of March
Segment minimum amount SAR
| 20,000 SAR
| 300,000 SAR
| 2,000,000 SAR
| Profit participation Rate
| 30%
| 40%
| 60%
| Profit Rate
| 0.38%
| 0.50%
| 0.75%
| Number of Days in the Month
| 31
| 31
| 31
|
Calculation of Profit Amount: (Minimum Balance during the month X Number of Days in the Month X Profit Rate% based on Segment) / (360)
The past performance of the Albilad Account does not reflect future performance, and the product is a Shariah Mudarabah, subject to profit and loss.
Example for Albilad account in USD as of March
Segment minimum amount USD
| 50,000 USD
| 1،500،000 USD
| 5،000،000
USD
| Profit participation Rate
| 30%
| 40%
| 50% | Profit Rate
| 0.38%
| 0.50%
| 0.63%
| Number of Days in the Month
| 31
| 31
| 31
| Profit Amount
| 16.15 USD
| 645.93 USD
| 2,691.38 USD
|
Calculation of Profit Amount: (Minimum Balance during the month X Number of Days in the Month X Profit Rate% based on Segment) / (360)
The past performance of the Albilad Account does not reflect future performance, and the product is a Shariah Mudarabah, subject to profit and loss.
These rates are based on Mudarabah and changes every month
Currency
| SAR
| USD
| Minimum Deposit Amount
| 20,000
| 50,000
| Maturity in Years*
| Not Applicable
| Not Applicable
| AER**
| Not Applicable
| Not Applicable
| Number of Withdrawals Permitted in the 1st Year***
| No maximum withdrawal limit
| No maximum withdrawal limit
| Number of Withdrawals Permitted in the 2st Year
| No
maximum withdrawal limit
| No
maximum withdrawal limit
|
*Maturity in Years: The Gregorian calendar is the date of maturity
*AER: Profit per month will be computed on the basis of the minimum balance during a Gregorian month,Provided that the account balance during the month is not less than SAR 20,000 or $ 50,000
***Number of Withdrawals : Without affecting the right of the Customer to make withdrawals or deposits and/or any other transactions
These rates are based on Mudarabah and changes every month
What are the limitations of an Albilad account?
Since the current account forms the foundation of your relationship with Albilad, there are a few restrictions on this account:
- Linking with Tadawul trading account and Investment account through Albilad capital
- Albilad credit card requests
- Requests for any financing products
- Wakalah account transactions
- Corporate products
- Safe deposit boxes
- Issuance of a debit card for the USD account.
- Request a checkbook for Al Bilad USD account
| 
