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Mudarabah Savings Account
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
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And start enjoying these benefits
Rate of Return*
Flexibility to Deposit/
Withdraw Anytime
Shariah Compliant
No Minimum
Balance Required
Features & Benefits
Rate of Return up to 3.5%* 
Profit is calculated based on your daily average balance 
Profit credited to your account monthly 
Shariah compliant 
Deposit and withdraw anytime with no fees 
No minimum balance requirement 
Servicing channels through Internet Banking, ATM, and branches
*Terms and conditions apply
Click here to see Mudarabah Tiered Saving Account Profit Rates ceiling
Now available in these branches
Required Documents
- National ID (Ahwal) for Saudis
- Residency ID (Iqama) for non-Saudis
Frequently Asked Questions
- What is the Islamic Savings Account?
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.
- What are the benefits on the Mudarabah Savings Account?
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.
- Who can open this account?
Any resident individual, including minors (opened and operated by his/her guardian) can open a Savings Account.
- Is a company eligible to open this 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.
- What is the eligibility criteria to open a Mudarabah Savings Account?
A Mudarabah Savings account is available for the following Individuals:
- Saudi Resident Individuals including joint account holders.
- Expatriate Individuals residing in Saudi Arabia including joint account holders.
- Minor’s accounts to be opened and operated by the guardian.
- Can a minor open and operate this account?
Yes, a Minor’s accounts can be opened and operated by the guardian. For further details, please contact Emirates NBD on 800 754 7777.
- In what currencies can I open a Mudarabah Savings Account?
Savings Accounts are available only in SAR currency.
- When are statements issued?
Account statements are issued on a monthly basis.
- How is profit calculated?
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.
- Do I receive a cheque book?
No, cheque books are not issued on Savings Accounts.
- Are there any fees or a minimum balance requirement?
There is no minimum average monthly balance for the Mudarabah Savings Account.
- Can I withdraw and Deposit money into the account any time?
Yes. You can deposit money into the account and withdraw money from the account anytime.
- Are there any fees if I withdraw money from the account?
No. there are no fees if you withdraw money from the account.
- How is the profit for the account calculated?
Below is an example of how the profit calculation works:
Month 1 - Customer deposits SAR 11 Million.
Profit Rate for the year is 3.5%.
Customer will get SAR 11,000,000 x 3.5% = SAR 385,000 / year.
End of month credit to his account will be SAR 32,083/-.Month 2 – Customer withdraws SAR 1 Million.
Balance in the Account is SAR 10,000,000.
Customer will get SAR 10,000,000 x 3.5% = SAR 350,000 / year.
End of month credit to his account will be SAR 29,166.66/-.
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