Wakala term savings deposit | Bosna Bank International

Wakala term savings deposit

This type of deposit is defined with the amount and maturity period. Wakala term savings deposit is aimed at providing retail clients to place free liquid funds as a term deposit in the amount, currency and to the most suitable period.

Available benefits: 

The ability of increasing savings deposit during agreed term deposit period
Fixed profit rate

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Information and characteristics

  • Deposit enabling clients to place free cash funds as term deposits in the amount, currency and to the most suitable period
  • Term savings deposit can be agreed in BAM, EUR and USD currency
  • It is possible to dispose with funds following the expiry of contracted period
  • Profit is disbursed upon maturity of term deposits (upon expiry of contracted maturity period)
  • The client can increase but not decrease the primary savings deposit
  • Savings deposit is established on the principle of the Wakala Contract, representing the Agency Contract where the Bank, as the Agent, is acting on behalf and for account of the client, investing funds into halal projects. The Bank shall not charge a fee from the client for agency services and it guarantees disbursement of agreed deposit profit amount to the client.
  • Savings deposits up to 50,000 BAM are secured at the Deposit Insurance Agency of BiH (in accordance with the Law on Deposit Insurance at the Deposit Insurance Fund of the Deposit Insurance Agency of BiH).

Necessary documents

For residents

  • Copy of ID Card of the savings deposit holder and authorized person
  • Original or copy of the Residence Certificate from CIPS of the savings deposit holder and authorized person

For non-residents

  • Copy of Passport certified by authorized bodies
  • Passport translation to one of official languages in BiH (except for the citizens of Serbia, Montenegro and Croatia), certified by a Certified Court Interpreter
  • Copy of the Residence Certificate

The Bank shall reserve the right to request other documentation, if necessary.

Download documentation

 

You might be interested in the following products:

BH ATM network

BH ATM network provides free cash withdrawal to BBI debit cardholders on BH ATM network.

Electronic services

Taking your needs into consideration, BBI is offering eBBI and mBBI, technologically superior services of electronic and mobile banking.

Apply online in less than 1 minute!

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