Mudarabah is a profit-sharing partnership contract between a capital provider (Rab-ul-Mal) and a Mudarib (Fund Manager) in a joint investment contract. This investment can be a transaction, a project or a fund to generate profits for investors
Rate of Return*
Flexibility to Deposit/
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Features & Benefits
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Frequently Asked Questions
The Islamic Savings Account is a Profit paying Sharia Compliant Savings Account product managed under the Islamic principle of “Mudarabah”. Under the concept, the depositor is eligible for a profit pay out. You are issued a free Debit Card, which can be used at all ATMs in the Kingdom (issued in SAR currency only). A statement is issued to customers based on their choice in the account opening form.
The Mudarabah savings account is a Saudi Riyal (SAR ) account with attractive profit rates which comes with a free international debit card, has 24-hour access to the account via ATM, online and mobile banking. Moreover, you have an access to the Emirates NBD branch network.
Any resident individual, including minors (opened and operated by his/her guardian) can open a Savings Account.
No, a company is not eligible to open this Account. Companies are permitted to open a Current Account or a Business Finance company account.
A Mudarabah Savings account is available for the following Individuals:
Yes, a Minor’s accounts can be opened and operated by the guardian. For further details, please contact Emirates NBD on 800 754 7777.
Savings Accounts are available only in SAR currency.
Account statements are issued on a monthly basis.
The depositor’s funds in the savings account are contributed into the Mudarabah pool. The profit rate payable will be worked out by executing the Profit Distribution Module (PDM) on a monthly basis and credited into the account at the end of every month.
No, cheque books are not issued on Savings Accounts.
There is no minimum average monthly balance for the Mudarabah Savings Account.
Yes. You can deposit money into the account and withdraw money from the account anytime.
No. there are no fees if you withdraw money from the account.
Below is an example of how the profit calculation works:
Month 1 - Customer deposits SAR 1 Million.
Profit Rate for the year is 1.5%.
Customer will get 1,000,000 x 1.5% = SAR 15,000 / year.
End of month credit to his account will be SAR 1,250/-.
Month 2 – Customer withdraws SAR 100,000.
Balance in the Account is 900,000.
Customer will get 900,000 x 1.5% = SAR 13,500 / year.
End of month credit to his account will be SAR 1,125/-.