Term Deposit Foreign
Term deposit account facility in your choice of foreign currencies.
Features & Benefits
- Flexibility to transact in any of the 4 major foreign currencies: AUD, EUR, GBP and USD
- Shariah compliant term deposit accounts
- The profits are paid on maturity and may be reinvested with the deposit amount
- Shariah Concept
The Depositor ("Muwakkil") enters into a Wakalah Agreement with the Bank ("Wakil") and deposits a certain amount of money to the Bank to be utilized and invested in profitable Shariah-compliant transactions. The Depositor will be offered the expected profit rate from the Investments and the Bank will earn a Wakalah fee for the service rendered. Any amount that the Bank earns in excess of the Depositor's expected profit (after deducting the Wakalah fee) will be retained by the Bank as incentive
- Brunei Citizens and Permanent Residents
- Foreign Citizens with valid work / student permit
- Individuals aged 18 and above
- Required Documents
- Original identity card or passport
- Minimum opening deposit of 5,000 foreign currency units is required
- Refer to the Bank’s Schedule of Tariffs
- Profit Distribution
- No profit for termination of term deposit less than 1 month
- Profit, at the Bank’s discretion, may be paid proportionately to the completed months at the prevailing rate at the time of termination
Please read this Product Disclosure Sheet before you decide to take the Foreign Currency Term Deposit Account. Be sure also to read the General Wakalah Terms and Conditions of Deposit Products.
Guaranteed protection up to maximum BND 50,000.00 per depositor under the Deposit Protection Order 2010.