Term Deposit - Foreign Currency
Term deposit account facility in your choice of foreign currencies.
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:
- Minimum opening deposit of B$ 5000.00 in the specified foreign currency (FCY) is required.
- You may refer to the Bank's Schedule of Tariffs for more information.
Features
Transact in AUD, EUR, GBP or USD
Indicative Profit Rate with minimum 1 month investment
Choose a term deposit period: 1, 3, 6, 9, 12, 24, & 36 months
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”).
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.