Mudaraba Overdraft

Mudaraba Overdraft by Bank Albilad

The first of its kind in the kingdom, Mudaraba Overdraft​ by Bank Albilad !​​


For the first time in the kingdom, Bank Albilad offers you an overdraft account compatible with Shariah principles. The Mudaraba Overdraft facility is an Islamic product where funds will be provided to the customers on Mudaraba basis with the Bank as the investor/capital provider and the customer is the working partner/entrepreneur.

Mudaraba Over draft​ ​Features


  • ​Availability of facilities at any time 
  • Simple documentation requirement (Mudaraba Contract and promissory note).
  • The Profits are calculated at the end of each day on the outstanding balance ONLY.
  • Ability to utilize and settle the utilized funds freely at any time without early settlement commission.
  • The calculated profits to be paid at the end of each month
  • The Mudaraba period will be for a maximum of 12 months (renewable), where the outstanding balance should be settled.

ocumentation Requirements at Initial Application


  • ​Copy of ID/Iqama.
  • Copy of Commercial Registration
  • Copy of the enterprise’s foundation contract (if the enterprise is a company).
  • Feasibility study (for new projects)
  • Copy of audited financial statements (or In-house FS) for three years (for existing projects).
  • Other documents that the Bank may require 



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