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Home | Personal Banking | Term Certificates | Certificate of Islamic Investment

Certificate of Islamic Investment

Truly Halal and Absolutely Riba-Free!

The Certificate of Islamic Investment (COII) is a Mudarabah-based deposit product through which you can invest your savings for periods ranging from 3 months to 5 years and earn Halal profit on a periodic basis.

 

The Certificates of Islamic Investment is an ideal investment for Individuals, Sole Proprietorships, Partnerships and Limited Companies

 

Enjoy a range of valuable features including:

 

  • Investment can be made for 3 months, 6 months, 1 year, 2 years, 3 years and 5 years
  • Profit payment options are monthly, quarterly or at maturity
  • Minimum investment required for quarterly and on-maturity payment is Rs. 50,000/
  • Minimum investment required for monthly profit payment is Rs. 200,000/
  • Pre-mature withdrawal can be made as per approved schedule

 

Profit sharing & Distribution Method

 

The Bank calculates the profit of the deposit pool every month. Gross income of the deposit pool is shared between the Bank (Mudarib) and customers (Rab-ul-Maal) on the basis of a predetermined profit-sharing ratio announced at the beginning of the month. The profit is distributed amongst the Account holders on the basis of predetermined weightages, announced at the beginning of the month. In case of a loss, as per the rules of Mudarabah, the Rab-ul-Maal shall bear the loss in the ratio of their investment.

 

 

Profit Sharing Ratio

  • Bank will share 50% of Gross Income as Mudarib
  • Depositor will share 50% of Gross Income as Rab-ul-Maal

 

 

Weightages for the Month of May 2013

Account Categories
Profit Distribution Periods/
Tier groups
Weightage Assigned
Certificate of Islamic Investment - 3 months
3 months
1.07
Certificate of Islamic Investment - 6 months
6 months
1.11
Certificate of Islamic Investment - 1 year
Monthly
1.15
Certificate of Islamic Investment - 1 year
Quarterly
1.19
Certificate of Islamic Investment - 1 year
Maturity
1.32
Certificate of Islamic Investment - 2 years
Monthly
1.18
Certificate of Islamic Investment - 2 years
Quarterly
1.22
Certificate of Islamic Investment - 2 years
Maturity
1.35
Certificate of Islamic Investment - 3 years
Monthly
1.27
Certificate of Islamic Investment - 3 years
Quarterly
1.30
Certificate of Islamic Investment - 3 years
Maturity
1.36
Certificate of Islamic Investment - 5 years
Monthly
1.45
Certificate of Islamic Investment - 5 years
Quarterly
1.52
Certificate of Islamic Investment - 5 years
Maturity
1.53
Certificate of Islamic Investment PLUS - 3 months
5 Million & Above
1.32
Certificate of Islamic Investment PLUS - 6 months
5 Million & Above
1.36
Certificate of Islamic Investment PLUS - 1 year Monthly
5 Million & Above
1.43
Certificate of Islamic Investment PLUS - 1 year Quarterly
5 Million & Above
1.47
Certificate of Islamic Investment PLUS - 1 year Maturity
5 Million & Above
1.49

Consolidated Weightages

Profit Rates for the month of April 2013

% per annum
Tenures
Profit Rates at Maturity
Quarterly Rates
Monthly Rates
Three Months
6.26%
-
-
Six Months
6.49%
-
-
One Year
7.72%
6.96%
6.72%
Two Year
7.95%
7.13%
6.90%
Three Year
7.95%
7.60%
7.43%
Five Year
9.01%
8.89%
8.48%

 

 

 

 

 

 

 






 Historical Profit Rates

 

Shariah Fatwa 

Premature Encashment of a Certificate(s)



In case of Premature Encashment of a certificate(s), profit will be paid with respect to the applicable product category rate mentioned below.

 

Early Redemption Schedule for the Certificate of Islamic Investment (Effective: December 20, 2010)
S No.
Tenure
Rates Applicable on Premature Encashment within
    Within 1 Month 1-3 Months 3-6 Months 6-12 Months 1-2 Years 2-3 Years 3-4 Years 5 Years
1.
3 Months
No Profit Saving Account Rate            
2.
6 Months
No Profit Saving Account Rate 3 Months COII          
3.
1 Year - Monthly
No Profit Saving Account Rate 3 Months COII 6 Months COII        
4.
1 Year -Quarterly
No Profit Saving Account Rate 3 Months COII 6 Months COII        
5.
1 Year -Maturity
No Profit Saving Account Rate 3 Months COII 6 Months COII        
6.
2 Years -Monthly
No Profit Saving Account Rate 3 Months COII 6 Months COII 1 Year Monthly COII      
7.
2 Years -Quarterly
No Profit Saving Account Rate 3 Months COII 6 Months COII 1 Year Monthly COII      
8.
2 Years -Maturity
No Profit Saving Account Rate 3 Months COII 6 Months COII 1 Year Monthly COII      
9.
3 Years -Monthly
No Profit Saving Account Rate 3 Months COII 6 Months COII 1 Year Monthly COII 2 Y Monthly COII    
10.
3 Years -Quarterly
No Profit Saving Account Rate 3 Months COII 6 Months COII 1 Year Monthly COII 2 Y Monthly COII    
11.
3 Years -Maturity
No Profit Saving Account Rate 3 Months COII 6 Months COII 1 Year Monthly COII 2 Years  Monthly COII    
12.
5 Years- Monthly
No Profit Saving Account Rate 3 Months COII 6 Months COII 1 Year Monthly COII 2 Years  Monthly COII 3 Years 
Monthly COII
3 Years 
QuarterlyCOII
13.
5 Years- Quarterly
No Profit Saving Account Rate 3 Months COII 6 Months COII 1 Year Monthly COII 2 Years  Monthly COII 3 Years 
Monthly COII
3 Years 
QuarterlyCOII
14.
5 Years- Maturity
No Profit Saving Account Rate 3 Months COII 6 Months COII 1 Year Monthly COII 2 Years  Monthly COII 3 Years  Monthly COII 3 Years 
QuarterlyCOII

 

 

To invest in a Meezan Bank Term Certificate, visit any of Meezan Bank’s branches and complete a few simple formalities including providing your Meezan Bank deposit account details or opening a Deposit Account at the branch.

 
*The Bank reserves the right to request further documentation on a case-to-case basis.

 

Apply Now

 

Personal Accounts

 

For Individuals (inclusive of Housewives / Students / Retired Personnel)

  • CNIC / NICOP / POC (signed by customer)
  • Any job / Business proof 
  • Any other related document requested by the Bank
     

 

For a Non-Resident Pakistani (Pakistani Nationals Residing outside Pakistan)

  • NICOP / CNIC
  • Visa/Passport Copy
  • Job Proof (Salary Certificate/Slip) / Business Proof

 

 

For Minors (individuals below the age of 18)

  • Attested copy of Birth Certificate
  • Attested copy of B Form
  • CNIC copy of guardian
  • Valid proof of source of income of guardian

 

Business Accounts

 

For a Limited Company

  • Attested copy of Certificate of Incorporation
  • List of Directors
  • Attested copy of Memorandum & Articles of Association
  • Board Resolution
  • Attested copy of Certificate of Commencement of Business (For Public Ltd. Co.)
  • Attested copies of CNICs of all Directors / Signatories
  • Latest copy of certified Form-29 issued by SECP

 

For a Sole-Proprietorship

  • CNIC of Proprietor
  • Attested Copy of NTN Certificate
  • Account Opening Request & Proprietorship Letter on Firm's Letter Head

 

For a Partnership

  • Partnership Deed (attested by notary public)
  • Letter of Authority & Mandate (if applicable)
  • Attested copies of CNICs of all Partners
  • Account Opening Request Letter on Firm's Letter Head
  • Attested copy of Registration Certificate with registrar of the firms

 

For a Club / Society / Association / Trust

  • Copy of Rules/By-Laws
  • Copy of Registration Certificate
  • List of Executive Members/Management Committee/Management Body
  • Copy of Resolution
  • CNICs of all Members of Management Body
  • Undertaking to immediately inform the Bank in writing about any changes in Management Committee/Authorized persons.

 

 

 

 

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