The Islamic Active Saver is a Sharia compliant Mudaraba based savings account product. It is designed in a manner that it is to be operated exclusively online on ADCB Personal Internet Banking. This makes your account accessible anytime, anywhere.
The Islamic Active Saver account can be opened only in UAE Dirhams, US Dollars, GBP and EUR
Profit is calculated in accordance with the Sharia approved profit distribution mechanism and paid on a monthly basis upon the approval from Internal Shari’ah Supervision Committee (ISSC). Profit is paid as per the weightages assigned to various tiers dependent on the daily balance maintained. If the daily balance in the account changes tier, the profit is calculated using the corresponding weightages assigned to that specific tier. So, the higher the account balance, the more the profit you are expected to earn.
Since the Islamic Active Saver account encourages savings, any deposit made into the Islamic Active Saver account are free of any transaction charges through the branch or through ADCB Personal Internet Banking.
All withdrawal/transfer transactions made at the teller counter in any ADCB branch are charged. Please see 'Fees and Charges' to know more about the charges applied on the account.
There are no conditions, and profit is never forfeited. However, as stated above, any withdrawals over the monthly limited transactions are charged a transaction fee.
The Islamic Active Saver account is an account operated online, through ADCB Personal Internet Banking. ADCB Personal Internet Banking allows fund transfers within ADCB or to any other bank locally and internationally, withdrawals and deposits, opening of Wakala deposits, and redemption of TouchPoints all at a click of a button.
For added convenience, visit any of the ADCB branches to make deposits or withdrawals. However, for every withdrawal made at the branch from the ADCB Islamic Active Saver Account a transaction charge is applied. Please click here to see 'Schedule of Fees and Policy' to know more about the charges applied on the account.
To encourage regular savings, ATM card and cheque book are not issued. An existing ATM/Debit Card cannot be linked to the ADCB Islamic Active Saver account either.
Please call us at 600 56 2626 anytime for any help or queries related with the Islamic Active Saver Account.
Yes, the Islamic Active Saver account transaction fees apply to all ADCB customers.
Yes, free SMS alerts are sent to Islamic Active Saver Account holders. See the full list of SMS alerts here.
No, the Islamic Active Saver Account is offered only to individual customers.
No, salary transfers into the Islamic Active Saver account are not permitted.
Yes, Islamic Active Saver Account is Shari’ah compliant - please click here. It is based on the Islamic concept of Mudaraba and is approved by the Internal Shari’ah Supervision Committee (ISSC) of ADCB Islamic Banking.