Deposit & Investment

Wakala Deposits

Wakala is an agency agreement where customer appoints Al Wifaq to invest his funds in Shari'a compliant avenues. An indicative profit rate is agreed with the corporate customer in advance at the time of agreeing the deposits.

  • Attractive profit rates
  • Flexible deposit terms
  • Available in AED only
  • Profit payment on deposit maturity
  • Option to reinvest the Principal amount
  • No account maintenance fees
  • Corporates/SMEs
  • Copy of Trade License
  • Passport copy with valid visa page
  • Mandate Form (for proprietor) or Power of Attorney
  • Valid UAE Resident Visa and Emirates ID
  • Photocopy of valid Chamber of Commerce Certificate (if applicable)
  • Photocopy of valid Commercial Registration Certificate (if applicable)