Are you looking for the best investment bank account?
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.Theprogram.
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 |
What are the features of the investment account?
- No fees
- Higher returns on your money.
- 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; one month - 3 months - 6 months - 12 months until 2 years.
- Ability to cancel your investment before the due date **
- Ability to select auto renewal with principal only
- Ability to select auto renewal with principal and profit
- Low-risk investment account
- Available for Saudis and non-Saudi
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Example of a profit distribution for Investment Wakalah account in SAR
Number of months | 1 | 3 | 6 | 12 | 18 | 24 | Minimum amount | 100,000 | 100,000 | 100,000 | 100,000 | 100,000 | 100,000 | Anticipated Profit Rate | 5.019% | 5.460% | 5.480% | 5.794% | 5.521% | 4.852% | Number of Investment Days | 30 | 90
| 180
| 360 | 540 | 720 | Anticipated Profit Return to the Customer in SAR | 418.24
| 1,364.49
| 2,740.13
| 5,748.93
| 5,851.065
| 9,703.40
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Example of a profit distribution for Investment Wakalah account in USD
Number of months | 1
| 3
| 6 | 12 | Minimum amount | 30،000 | 30،000
| 30،000 | 30،000 | Anticipated Profit Rate | 5.337%
| 5.320%
| 5.272%
| 5.120%
| Number of Investment Days | 30
| 90
| 180
| 360 | Anticipated Profit Return to the Customer in USD | 133.41
| 398.97
| 790.84
| 1,535.90
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How can I open the investment account online via Albilad app?
- Log in to Albilad app
- Choose Investment Wakalah under Accounts
- Create New Account -> Apply Now
- Then choose the account from which the Investment amount will be deducted (Current account / Albilad account)
- Input the investment amount and choose investment period
- 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
- Choose an Investment Wakalah from the main menu.
- New Wakalah Issuance
- Then choose the account from which the Investment amount will be deducted (Current account / Albilad account)
- Input the investment amount and choose investment period
- Complete the steps to open the account.
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What are the conditions for an investment account?
- The customer must be at least 18 years’ old.
- Any individual customer can benefit from an Investment Wakalah account if he already has a Current account.
- The minimum entry amount for investment is SAR 100,000 or USD 30,000.
- When choosing to auto renew the Wakalah contract, the contract will be renewed according to the initial selected tenor, and the expected profit rate will be updated based on the rate available in the system on the day of contract renewal and so on.
- In the event that the client chooses to renew the Wakalah contract with the profits, the profits will be added to the principal amount and invested for the same investment tenor and so on. The customer will receive the principal and profit on cancellation of the contract for the completed investment tenor.
** In case of cancellation of the Investment Wakalah program before the due date, no profits will be granted for the period between the investment contract start and the withdrawal of the investment amount. |
What is the difference between Albilad Account with Monthly Returns - the Savings Account and Investment Wakalah Program?
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Characteristics |
Savings Account |
Albilad Account with Monthly Returns |
Investment Wakalah Program | |
Profits Calculation Start Date | From the date of depositing the amount | From the date of depositing the amount | From the date of depositing the amount | |
Profit Calculation Period | On the last day of every calendar month | On the last day of every calendar month | On the completion of tenor / At maturity | |
Issuance of "mada" Debit Card | Not Available | Available | Not Available | |
Account Categories | Based on the saving period | Based on the balance | Based on the investment period | |
Profit Calculation Mechanism | Average balance during the month | Lowest balance during the month for USD account and average balance of the month for SAR account | Average balance during the month | |
Additional Deposit Calculation | The additional deposit is calculated upon profits distribution | The additional deposit is not calculated upon profits distribution | Additional deposit are not allowed, new Investment Wakalah deposit can be created with new start date for each additional investment | |
The minimum qualifying amount for profit sharing | SAR 1,000
| SAR 5,000 or USD 1,000 | SAR 100,000 or USD 30,000 | |
Transfers | Limited transfers are accepted during the saving period | Unlimited transfers and withdrawals from the account at all times during the month | Transfers to / from the Investment Wakalah are not allowed. The Investment Wakalah can be cancelled before maturity but no profit will be paid | |
Profit Distribution Ratio | 90% - 100% | SAR 30% - 40% - 60%
USD 40%- 60%- 80%
| Based on anticipated profit rate at the time of booking of Investment Wakalah deposit | |
Eligible Participants | Individuals Only | Individuals / Companies / Institutions / Entities | Individuals Only | |
Account Opening Process | Online via Albilad App or Albilad Net
| Online via Albilad App or Albilad Net and Albilad Branches
| Online via Albilad App or Albilad Net and Albilad Branches
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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.
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?One hundred thousand Saudi riyals / thirty thousand US dollars (SAR 100,000 or USD 30,000)
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 withdraw the amount in the Investment Wakalah account before the specified period ends, but there will be no profit paid to the customers
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?
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 Saudi Riyal and/ US Dollar
How has the Investment Wakalah account changed to an account in which zakat is not due?The assets that’s the investment amounts are invested in has been changed to non-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 non-Zakatable assets Does the non-obligation of zakat include all periods available for investment in the account?Yes, because the money is invested in non-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. Does the non-obligation of zakat occur from the first day of investment in this account?No, the non-obligation of zakat applies to investment amounts in the account start from 15-10-2023
Can the bank pay zakat to me while I pay it myself?No, because the exemption is linked to non-Zakatable assets
Will there be an adjustment to the current anticipated profit rate?No, there will be no adjustment to the current anticipated profit rate.
Are there any amendments to the current agreement?No, only the assets where investments are placed has been changed. however, renewing the subscription or entering into a new deal requires signing the new agreement.
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