Term Deposit - Foreign Currency
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.
- Easy tracking of your transactions and account balance through certificate-based monthly statements.
- Pre-agreed profits will be given as long as you invest with us for a minimum of 1 month.
- Shariah Concept
- Wakalah
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.
- Wakalah
- 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 $5000.00 in the specified foreign currency (FCY) is required.
- Deposit / Withdrawal Fee
Please refer to Bank's Schedule of Tariffs.
- Minimum Opening Deposit
- 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.