Banque Misr's Accounts for Islamic Transaction

 

The Investment Current Account

  • The minimum amount required to open an account is 5000 Egyptian pounds, US Dollars, Pounds Sterling, Euro, 2000 Saudi riyals or 5000 French Francs.
  • These Halal profits are distributed to investing clients according to the will of God.
  • The return on investment is paid every 6 months on June 30 and December 31 of each year, in the same currency of the account.
  • The investment account has the same advantages of current accounts on demand and a chequebook can be provided to the client.
  • Depositing and withdrawal can be easily made at any time.
  • Correspondence can be kept with the bank upon request of clients who wish to receive them from BANQUE MISR offices, to ensure complete privacy of their correspondence

The Investment Saving Book

  • The return on investment is paid every 6 months on June 30 and December 31 of each year, in the same currency of the savings book and is exempted from taxes.
  • Two draws are made by computer for investment saving accounts and investment current accounts in local and foreign currency every 3 months (on March 31, June 30, September 30 and December 31) with a minimum balance of EGP 100 or equivalent in other currencies.

 

The First Draw

The first draw is made on saving accounts and investment deposits in local currency on four prizes with total 500.000 Egyptian pounds. The drawing on four prizes is done as follows:

 

Prize Value

Rank

EGP 200.000

Prize No.1

EGP 150.000

Prize No. 2

EGP 100.000

Prize No. 3

EGP 50.000

Prize No. 4

EGP 500.000

TOTAL

 

  • The minimum amount required to enter the draw is one hundred Egyptian pounds.

 

 The Second Draw

The second draw is made on saving accounts and investment deposits in foreign currency on three prizes with total fifty five thousand dollars. The drawing on three prizes is done as follows:

 

Prize Value

Rank

USD35.000

Prize No.1

USD15.000

Prize No. 2

USD5.000

Prize No. 3

USD55.000

TOTAL

 

  • The minimum amount required to enter the draw is one hundred dollars, seventy five euros, fifty pounds sterling, or equivalent to one hundred dollars in other currencies.

 

 

Two draws are made on saving accounts and investment deposits in local currency to share in Haij (pilgrimage trip) and Umrah expense. The two draws are done as follows:

 

  • The First Draw

The first draw is made on 15th day of the Hijri month of Ragab (on saving accounts at the end of the Calendar month that comes before the Hijri month of Ragab). The draw is on five prices with total 25.000 Egyptian pounds, to contribute to the Umrah expenses in the Holy Month of Ramadan.

    

  •  The Second Draw

 

The second draw is made on 15th day of the Hijri month of Shawwal (on saving accounts at the end of the Calendar month that comes before the Hijri month of Shawwal). The draw is on five prices with total 150.000 Egyptian pounds, to contribute to the expenses of Haij (pilgrimage trip).

 

 

Note: In case the draw day coincides with an official holiday, the procedures shall be made instead by the first working day following the holiday.