Term Deposit – BND

Providing you with fixed term Shariah compliant investing account facilities

  • Eligibility

    Companies registered or incorporated in Negara Brunei Darussalam, either in the form of a proprietorship, partnership or private limited company.

  • Required Documents

    For Proprietorship & Partnership Company:
    Letter of Application

    For Private Limited Company:
    Directors' Resolution to open/maintain term Investments

  • Fees and Requirements

    Minimum Opening Deposit

    For term period of 1 month, minimum opening deposit is B$ 5,000.
    For term periods of 3 months or longer, minimum opening deposit is B$ 1,000.

    Please refer to the Bank's Schedule of Tariffs for more details.

Features

  • Enjoy higher returns than a regular savings account

  • Profits earned may be reinvested in deposit account

  • Choose a term deposit period: 1, 3, 6, 9, 12, 24, & 36 months

Shariah Concept

Wakalah

Refers to Agency contract. The Depositor (“Muwakkil”) appoints the Bank as their agent (“Wakil”) to utilize and invest their deposits in profitable Shariah-compliant transactions. The Depositor will be offered an expected profit rate from the investments and the Bank will earn an Agency (“Wakalah”) Fee for the service rendered. Any amount that the Bank earns in excess of the Depositor’s expected profit will be retained by the Bank as Commission (“Ju’alah”).

Profit Distribution

There will be no profit for termination 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.

Further Information

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