“Wakala Investment Account” is based on the principle of “Wakala” whereby the Client (“Muwakkil”) appoints KFH-Bahrain, the Bank (“Wakil”), to perform a transaction for an agreed upon Anticipated Profit Rate. The “Wakil” (the Bank) invests the amounts in a general financing portfolio.
- A minimum deposit of BHD 1,000 or $10,000.
- Shari'a compliant returns on your investments.
- Available for terms of:
- 1 month.
- 3 months.
- 6 months.
- 9 months.
- 1 year.
- 2 years.
- 3 years.
- 5 years.
- Accounts are available in BHD and USD.
- Anticipated profit rate based on investment period distributed monthly.
- No account opening fees.
- If below 21 years of age, guardian authorization is required.
- Minimum opening balance is BD 1,000.
- Requirements for Personal Accounts:
- 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.
- c) Account statement or a salary certificate.
- For Bahrainis:
- Requirements Corporate Accounts
- Original CR.
- 2 original IDs from the following:
- a) CPR.
- b) Passport.
- c) 6 months financial statement.
- d) Article of associations (if applicable).
- e) Board of Resolution (if applicable).
- f) Registration Form.
* For GCC Nationals a valid identification Card is mandatory