AFFIN ISLAMIC offers banking products and services in compliance with Islamic Shariah principles with the aim to make profit for our shareholders and depositors as well as to contribute to the economic and social development of Malaysia.
AFFIN ISLAMIC offers Islamic Deposit Products under two Shariah principles, namely, Wadiah (Guaranteed Safe Custody) and Mudarabah (trustee profit sharing).
Wadiah refers to a contract between the depositor and the Bank for safekeeping purposes. The account holder, who is the depositor, places funds on trust basis with Affin Islamic.
Affin Islamic acts as the trustee and depository, therefore guarantees payment of the whole amount of deposit, or any part thereof, outstanding in the account of the depositor, when demanded.
Mudarabah is a type of investment contract between the depositor i.e. the capital owner(Customer) and the Bank. The account holder, who is the investor, places funds on trust basis with Affin Islamic.
AFFIN ISLAMIC will invest the funds as Mudarib (Entrepreneur). Profits are shared between the investor and the bank according to the pre-agreed profit sharing ratio.
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