“Al Baraem” Investment Saving Account, is an investment saving account which is compliant with the Islamic Shari’a principles. The account can be opened, by the parents, in the child's name at the date of birth and up to 14 years. It’s a saving account based on "Mudaraba" principle with many privileges to strengthen the conduct of savings, encourage money management and provide a foundation for a better future of our youth.
The account offers clients the ability to:
- Free debit card.
- Low minimum balance requirement.
- Competitive profit rates
- Annual profit distribution.
- Local or international remittance facility.
- Standing order facility.
- Easy and quick access to funds.
- Free semi-annual account statements.
- SMS notifications on account transactions.
- No account opening fees.
- The account can be opened for infants and up to 14 years.
- Minimum opening balance for Bahraini Dinar account will be BD 20.
- For Bahrainis:
- a) Original Identification (e.g. CPR or Passport).
- b) Proof of address (e.g. driver's license or utility bill).
- For Non Bahrainis:
- a) CPR.
- b) Passport with a valid residence permit.