Afaq is an investment savings account according to the principles of wakala. It provides you with monthly payments of expected profits, which are calculated on the basis of the lowest balance in the account during the month.
- Minimum Balance: KD 1,000
- Only Available in Kuwaiti Dinars.
- There is no minimum balance charges.
- Salary cannot be transferred to this account.
- A debit card will be issued to you.
- Profits are calculated at 0.5% per annum and paid in the account on a monthly basis.
- The expected profits for investment are agreed with the Client on the basis of the wakala investment contract.
- Valid Civil ID
1- What is the minimum balance?
The minimum balance is KD 1,000.
2- Is it possible to add or draw amounts?
Yes, possible.
3- Will the amount of KD 1,000 be seized?
No.
4- When are the profits paid?
After the last day of the month.
5- How are profits calculated?
Profits are calculated based on the lowest account balance during the month.
For Terms and Conditions click here