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 1.5 year and earn Halal profit on a periodic basis.
Investment can be made for 3 months, 6 months, 1 year and 1.5 years
Profit payment options are monthly or at maturity only
Minimum investment is Rs. 50,000/-
Pre-mature withdrawal can be made as per approved schedule
The Distributable income of the deposit pool is distributed among the bank (Mudarib) and customers (Rab ul Maal) on the basis of a pre-determined profit sharing ratio and weightages which shall be announced 3 days before beginning of every month and shall not be changed during the month. According to the sprit of Mudarbah, the profit rates are calculated and announced up to seven days of the subsequent month from the monthly income of the trade activities of the pool. Conversely, in case of the loss as per the rule of Mudarbah, the Rab ul Maal shall bear the loss in the ratio of their investment.
Bank will share 50% of Distributable Income as Mudarib
Depositor will share 50% of Distributable Income as Rab-ul-Maal
| Products | Tier groups | Weightage Assigned |
|---|---|---|
| COII 3 Months (Maturity) | 50K & Above | 0.46 |
| COII 6 Months (Maturity) | 50K & Above | 0.47 |
| COII 1 Year (Monthly) | 50K & Above | 0.69 |
| COII 1 Year (Maturity) | 50K & Above | 0.83 |
| COII 1.5 Years (Monthly) | 50K & Above | 0.66 |
| Products | Amount | Profit Assigned |
|---|---|---|
| COII 3 Months (Maturity) | 50K & Above | 8.72% |
| COII 6 Months (Maturity) | 50K & Above | 9.12% |
| COII 1 Year (Monthly) | 50K & Above | 12.89% |
| COII 1 Year (Maturity) | 50K & Above | 15.07% |
| COII 1.5 Years (Monthly) | 50K & Above | 12.29% |
Zakat Clause : In COIIs Zakat is deducted as per the directives of Zakat and Ushr Ordinance, 1980. Therefore, customers are advised to calculate their Zakat as per the guidelines of their respective school of thought (Makatib e fikr).
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