1. What is the Investment Account in Non-Zakatable Assets offered by Khaleeji Bank?
The Investment Account in Non-Zakatable Assets is an investment account offered by Khaleeji Bank, whereby the Bank invests the Client’s funds in accordance with Islamic Sharia principles with the aim of generating competitive returns. This account has a unique feature; the Client is not required to pay Zakat on the principal amount invested given that it is invested in non-Zakatable assets , such as Ijarah financing and Ijarah Sukuk.

2. Does the Investment Account in Non-Zakatable Assets comply with Islamic Sharia principles?
Yes; the Bank’s Sharia Supervisory Board approval has been obtained in relation to this account. You can view the Sharia Supervisory Board’s fatwa by clicking here.

3. What is the minimum investment period for the Investment Account in Non-Zakatable Assets?
The minimum investment period is 12 months.

4. What is the maximum investment period for the Investment Account in Non-Zakatable Assets?
The maximum investment period is 12 months.

5. In which currencies can I open an Investment Account in Non-Zakatable Assets?
The account is available in Bahraini Dinar, Kuwaiti Dinar, Saudi Riyal, Qatari Riyal, UAE Dirham, and US Dollar.

6. What is the expected profit from the Investment Account in Non-Zakatable Assets?
The expected profit rate varies depending on the currency and amount. You can view the applicable profit rates by clicking here.

7. What is the minimum amount required to open an Investment Account in Non-Zakatable Assets?
The minimum amount is BHD 1,000, or its equivalent to other currencies.

8. Who can open an Investment Account in Non-Zakatable Assets?
Any Khaleeji Bank customer can open the account through the Khaleeji mobile application or by visiting any branch of the Bank.

9. Can I withdraw funds from the Investment Account in Non-Zakatable Assets before the investment period ends?
Khaleeji urges its clients to commit to the investment period to sustain the best investment outcome, otherwise the client may submit a request to with draw the amount before the lapse of the investment period subject to obtaining Khaleeji Bank’s prior approval.

10. Are there any fees for opening an Investment Account in Non-Zakatable Assets?
No, there are no fees.

11. Can I open more than one Investment Account in Non-Zakatable Assets?
Yes, you can open more than one account.

12. Does the Bank pay Zakat on behalf of the customer?
No. The Bank does not pay Zakat on behalf of the client, and the client shall arrange to pay Zakat in accordance with its terms of application.

13. How is profit calculated if I open an Investment Account in Non-Zakatable Assets in the middle of the month, for example, on the 13th?
Irrespective of the investment date, the Bank will calculate the expected profit on a daily basis and deposit it in the account on monthly basis.

14. Can I change the profit payment option after opening the account?
No. The profit payment option cannot be changed after the investment date.

15. Will the client be liable for any Zakat on the invested amount?
No Zakat is due on the principal amount invested by the client. Rather, Zakat is payable only on the returns generated from the investment, subject to the fulfillment of the Shariah conditions for Zakat.