The Riba-free Pound Savings Account is a remunerative Foreign Currency Account for Individuals. You can open and operate this account using Pounds and earn Shariah-compliant returns under the principles of Mudarabah along with other value-added benefits.
Diversify and safeguard your investments against currency fluctuations.
Open your Pound Savings Account with Meezan Bank today!
No charges on issuance of chequebook
Minimum investment required to open an account is £100
Routine withdrawals up to £500 per day allowed without prior intimation
Withdrawals of above £500 needs 1 day prior notice
Profit will be paid on monthly basis and calculated on daily basis
Receive Foreign Remittances
No service charges if the balance maintained is low
On agreeing to become a Pound Saving Account holder, the customer enters into a relationship based on Mudarabah with Meezan Bank. Under this relationship, the customer is an Investor (Rab-ul-Maal) and the Bank is the Manager (Mudarib) of the funds deposited by the customers. The Bank allocates the funds received from the customers to a deposit pool; funds from the pool are utilized to provide financing to customers under Islamic modes that include, but are not restricted to Murabaha, Ijarah, Istisna and Diminishing Musharkah.
Bank will share 90% of Gross Income as Mudarib
Depositor will share 10% of Gross Income as Rab-ul-Maal
| Products | Tier groups | Weightage Assigned |
|---|---|---|
| Meezan Pound Savings Account | Monthly | 0.27 |
| Products | Tenure | Profit Assigned |
|---|---|---|
| Meezan Pound Savings Account | Monthly | 1.25% |
PDF version of our printed Account Opening Form is also available for download. You can print the form, fill your details and submit it along with the required documents at your preferred branch.
Download FormYou may visit any branch of Meezan Bank and our staff will assist you in filling the printed Account Opening Form and opening your account.
Locate a BranchFill out the form below to be contacted by a Meezan Bank representative.
Get ContactedFill out the form below and you'll be guided about how you can open your new account.