Al-Awfar
Introducing a FIRST in Islamic banking. An innovative Mudarabah-based account that gives you the opportunity to win cash prizes worth of more than RM14 million a year. Try us. Who knows, you could be our next winner!
Benefits & Features
Draw Eligibility
Average Balance of RM100 = 1 unit of entry
Profit-Sharing Ratio
98 : 2 (Bank : Customer)
(Subject to change from time to time)
Contract
Mudarabah
“Mudarabah” means a form of contract between the capital provider (rabbul mal) and an entrepreneur (mudarib) under which the rabbul mal provides capital to be managed by the mudarib and any profit generated from the capital is shared between the rabbul mal and mudarib based on a mutually agreed profit sharing ratio whilst financial losses are borne by the rabbul mal provided that such losses are not due to the mudarib’s misconduct, negligence, or breach of specific terms.
Eligibility & Requirements
Draw Eligibility
Average balance of RM100 = 1 unit of entry
Minimum Placement
RM100
Minimum Balance
RM50
Who can open an account
- Individuals
- Non-Individual – Associations / Schools / Universities Clubs / Societies / Religious Groups
Frequency of Prize Draw
Monthly & Quarterly
Fees & Charges
Subject
Charges
Rate / Amount
Replacement of Passbook
- Lost passbook
- Due to poor handling
Stamp Duty will be charged for the Indemnity Letter regardless of the amount
- RM10 Stamp Duty + RM3.00 if lost due to poor handling
- RM10 Stamp Duty only – if lost due to stolen ( attach police report )
Early Closure of Account
Within 3 months
RM20.00
Dormant Account
With balances up to RM5.00
Account will be closed and these balances will be absorbed by the Bank as a charge
Other Fees & Charges
Coin Deposit – Business Account
1st RM100.00 is free
Subsequent RM100.00 is charged RM2.00
T&C and PDS
Download the Terms and Conditions effective on 1 August 2019
Download the PDS Effective on 1 August 2019
List of Al-Awfar Draw Date 2020
Click here to view List of Al-Awfar Draw Date 2020
Campaigns
Campaign name
Jom Pindah Gaji, Cooperative Campaign, TH & PF Campaign
Mechanics
Average balance of RM100 = 1 unit of entry
Campaign Winners Announcement
Branches and website
Campaign Link
