With MDSA customers save with peace of mind and they can access their funds and withdraw any amount as and when needed.
ADCB and its subsidiaries’ employees and their immediate family members (parents, spouses, siblings and children) are not eligible to open MDSA.
For the first AED 5000, customer will get 1 chance and for every extra AED 1000 he/she saves over the initial AED 5000, he/she gets an extra chance in the prize draws.
E.g. if a customer has AED 10,000 average monthly balance, he/she will get 6 chances to win prizes
ADCB Islamic Banking may from time to time and at its sole discretion offer different types of prizes.
The prize draws are held during the second week of each month.
ADCB believes in absolute transparency. The prize draws are conducted in the presence of Abu Dhabi Department of Economic Development and Auditors.
We award 111 prizes to MDSA customers every month. Since this is a prize draw based product, not every customer wins. However, please continue to apply for MDSA and try your luck as you could be the next lucky winner.
To be eligible for the draw, you need to have a minimum average monthly balance of AED 5,000
The MDSA is a Shari'ah approved Mudaraba-based savings account that offers all the standard features of an Islamic savings account, but with the addition of monthly prizes. All prizes are paid out of ADCB Islamic Banking's own funds, and not from the Mudaraba or customers' accounts.
Profit is calculated on the minimum average monthly balance in the account in accordance with the Shari’ah approved profit distribution mechanism and paid on a quarterly basis.
Transactional charges are as per the schedule of fees published on www.adcbislamic.com
Yes, free SMS alerts are sent to the account holders.
Yes, the MDSA is offered in USD as well.
No, MDSA is offered only to individual customers.
As the main purpose of MDSA is to encourage saving habits and win prizes, salary transfers are not permitted. However customers can open regular savings or current accounts for salary transfers.
Yes, it should be opened by the guardian