Savings account is an account for saving and investment based on Shariah principle of Mudharabah (profit sharing). An authorisation is required from the customer for KFH Malaysia to invest the monies based on Mudharabah Mutlaqah (unrestricted profit sharing contract) in any permitted investment in which it is considered as appropriate for the benefit of both contracting parties under the scope and method of investment. Under this principle, profit derived from the deposit invested by KFH Malaysia will be shared between the accountholder and KFH Malaysia based on pre-determined profit-sharing ratio agreed by both parties.
Shariah concept: Mudharabah Mutlaqah & Qardh
Initial deposit: RM20
