Enables our customers to place and liquidate a deposit from the comfort of their own home or office 24 hours-a-day, 7 days-a-week
Based on the Shariah concept of 'Murabaha', meem is the first in the world to offer fully Shariah compliant purchase and sale of the underlying Murabaha commodity online in real time.
It gives customers the option to withdraw up to 20% of their investment at any time, without affecting the remaining deposit and returns gained on it
You can select your deposit tenure from 30 to 720 days in SAR, USD, GBP or any of the GCC currencies
Example: Murabaha term deposit (one year)
Minimum Amount for Deposit Amount | Equivalent annual rate | The number of withdrawals allowed in the first year | The number of withdrawals allowed in the second year | Maximum Limit |
1,000.00 | 1% | one time | Not applicable | Not applicable |
Example : Murabha term deposit (one month)
Minimum Amount for Deposit Amount | Equivalent annual rate | The number of withdrawals allowed in the first year | The number of withdrawals allowed in the second year | Maximum Limit |
1,000.00 | 0.5% | one time | *Not applicable | **Not applicable |
*Given that the deposit is limited to a period of (one month) only
** As per the bank’s policy, there is no maximum amount for the deposit
Example : Murabha term deposit (three months)
Minimum Amount for Deposit Amount | Equivalent annual rate | The number of withdrawals allowed in the first year | The number of withdrawals allowed in the second year | Maximum Limit |
1,000.00 | 0.75% | one time | *Not applicable | **Not applicable |
*Given that the deposit is limited to a period of ( three months only )
** As per the bank’s policy, there is no maximum amount for the deposit