Wakala

Wakala Deposit is an Islamic investment deposit based on trust, where the bank acts as an agent (Wakil) to invest the client's (Muwakkil) funds in activities that comply with Shariah principles, with the aim of generating profit. Under a Restricted Wakala Deposit, the areas of investment may be limited to a specific type of investment, a particular location, or have other investment restrictions

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Acting as an agent, the Bank operates on a trust basis and is not liable for any losses. Exceptions include cases of misconduct, negligence, or breach of the deposit agreement terms and its investment restrictions by the Bank. All transactions under this product are conducted within the scope of the regulated activity «Managing a Restricted Profit-Sharing Investment Account».