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Islamic Savings Certificate (ISC) is a range of “Investment for profit” Halal products with fixed maturities. Investments can be made with wide range options from 1 month to 5 years’ term with various profit payout frequencies.

Profit payout may be made:
• At the time of maturity (Profit at Maturity), or
• Periodically i.e. Monthly, Quarterly, Biannually or Annually.

Key Features
  • Islamic Savings Certificate (ISC) will be opened in Pakistani Rupees.
  • Investment can be made with wide range of options from 1 month to 5 years.
  • Minimum Investment required for maturity option is PKR 10,000/- and for periodic profit payment option is PKR 25,000/-.
  • Pre-mature encashment option is available
  • Zakat and other levies will be applicable as per governing Laws
Contract & Mechanism
ISC will be accepted on the basis of Mudarabah. The Bank will be the Mudarib and the Investment Account Holders (IAHs) / Depositors will provide funds for investment to earn Halal profit / benefit, identified as Rab-ul-Maal. The funds so deposited will be invested in an Investment Pool which will be managed by the Bank in capacity as Mudarib (Managing Partner).

The IAH is eligible to share Profit from the respective investment pool according to his / her deposit in a predetermined ratio adjusted by weightages assigned to each category of remunerative deposits. This is calculated on calendar month basis. The Profit or Loss declared by the Bank, as stipulated herein, shall be considered as final and binding on all the account holders. The Bank in this capacity as Mudarib will also be entitled to a share of the distributable profit.

The Bank may also choose to invest its own Funds. In this case the Bank will share profit in addition to its share as Mudarib. Accordingly, in case of loss in the respective pool, it (Loss) will be shared between the IAHs and the Bank as per ratio of their investments in that pool.

Who Can Participate?
ISC may be opened in the name of persons and bodies mentioned below upon being properly introduced in a manner prescribed by the Bank (provided that their source of income is not received from any prohibited source as per the Shariah principles):

  • Individuals
  • Sole Proprietorship concerns
  • Partnership Firms
  • Limited Companies (Private & Public)
  • Clubs, Societies and Association
  • Foreign Missions / Diplomats
  • Agents Accounts
  • Trust
  • NGO / NPO’S / Charities
  • Branch Office / Liaison Office of Foreign Companies
  • Executors and Administrators
  • Government / Provincial / Local Government and Armed Forces (Including Allied Accounts)


Types of Islamic Savings Certificate (ISC)
The following ISC types may be offered from time to time at the discretion of the bank:
Profit Payment Frequency
Monthly
Quarterly
Half yearly
Annually
Maturity
Minimum Investment (PKR)
25,000
25,000
25,000
25,000
10,000
Tenor
1 month
✓
3 months
✓
6 months
✓
1 year
✓
✓
✓
✓
3 years
✓
✓
✓
✓
✓
5 years
✓
✓
✓
✓
✓
Value Added Services
  • Fund Transfer within BML via ATM, Web & Branch Network
  • Issuance of Pay Order
  • Outward Clearing Charges for Cheques returned unpaid
  • Issuance of Islamic Debit Card for 1st Year
  • Internet Banking Facility
  • E-Statement of Accounts
  • Loads of Other Services

Terms & Conditions apply*

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