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Customer Target Group
  • Individuals who are 18 years of age and above
  • Legal  persons [sole proprietors, MSM enterprises, corporates, associations, partnership, etc.]
Product Features / Value Propositions
  • Shall be opened with a minimum initial deposit of Birr 500
  • Shall be operated with or without passbook
  • Shall be backed by Mudarabah contractual agreement
  • Shall have no specific maturity period
  • Shall have no restrictions both on the amount and frequency of withdrawal
  • Shall be opened and operated individually or jointly]
  • Small account balance [i.e., as low as Birr 5,000] requirement for PLS eligibility
  • Offer a minimum PSR of 60:40 [60% for the Bank and 40% for the Customer]
  • Consideration for value through progressive weightage for deposit
  • PLS calculated on the monthly average balance; provided the average balance is stable for at least 15 days in a given month.
  • Convenient banking made possible via Sharik Card and/or Amex Gold Card and Amole Wallet while earning profit
  • Profit paid within the next 15-days after the lapse of the Month
Eligibility Requirements
  • Fulfil all basic KYC and due diligence requirements [as applicable in the current practice, for e.g., regular Wadia’h Saving Account]
  • Should be willing to declare that the sources of deposit is Halal or Shari’ah compliant sources