About Bank Alfalah Islamic Banking

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Bank Alfalah Islamic Banking was established as a dedicated Islamic Banking Division within Bank
Alfalah Limited in 2003 to offer its customers products that are Shariah compliant. By introducing Islamic
financial solutions, we are fulfilling our promise of being responsive to our customers needs.

Bank Alfalah Islamic Banking comprises a team of qualified professionals who design and structure
Islamic financial solutions and ensure that they are in line with Shariah principles on Islamic banking and
finance. These solutions are developed under the guidance of a dedicated Shariah Advisor.

Falah Islamic Current Account
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Falah Islamic Current Account enables you to derive maximum benefits from your deposits. It is the right
solution for individuals as well as businessmen and entities that make frequent transactions. Based
upon Qard, (loan on demand) where you are the lender and Bank the borrower, this Current Account is
free of interest and the principle is guaranteed to you as the depositor. You can be rest assured that
your funds will be utilized in strict adherence to Shariah principles, as all deposited funds in this account
are invested in Islamic assets.

Features
Minimum initial deposit and balance requirement of Rs 1,000 only.
No maximum balance limit.
No restriction on number of monthly deposit or withdrawal transactions.

Benefits
VISA Debit/ATM Card accepted at over 30 million outlets and more than 2 million ATMs worldwide.
Free cheque books, pay orders and demand drafts.
Convenience of Online banking across all Bank Alfalah Islamic branches nationwide, with no
charges.
Free e-statements.
SMS alerts on every transaction.
Complimentary account statement semi-annually.

* Zakat is not applicable

Falah Foreign Currency Current Account
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Falah Foreign Currency Current Account enables you to derive maximum benefits from your foreign
currency deposits. Based upon Qard, (loan on demand) where you are the lender and Bank the
borrower, this Foreign Currency Current Account is free of interest and the principle is guaranteed to
you, the depositor. You can be rest assured that your funds will be utilized in strict adherence to Shariah
principles, as all deposits are allocated in a specific pool of funds which are further invested in Islamic
assets. The Account is governed by rules & regulations on Foreign Currency Account issued from time
to time by State Bank of Pakistan and Government of Pakistan.

Features
Account can be opened in US Dollar, Pound Sterling or Euro currency.
Minimum initial deposit and balance requirement of 100/- (USD, GBP or EURO).
No maximum balance limit.
No restriction on deposit and withdrawal transactions.
Free e-statements.

Benefits
Free cheque books.
Complimentary account statement semi-annually.
Free E-statements
SMS alerts on every transaction (charges as per SOC)

Falah Basic Banking Account
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Falah Basic Banking Account is a current account best suited for small depositors looking to bank
securely and conveniently. Based upon Qard, (loan on demand) where you are the lender and Bank the
borrower, this Account is free of interest and the principle is guaranteed to you, the depositor.

Features
Open with an initial deposit of Rs. 1,000 only.
No monthly minimum balance requirement.
2 free withdrawal transactions every month through cheque**.
No restriction on number of deposits.

Benefits
Free cheque books.
VISA Debit/ATM Card accepted at over 30 million outlets and more than 1.5 million ATMs worldwide
with unlimited, free of charge withdrawals from bank owned ATMs.
Complimentary account statement once in a year.

*Zakat is not applicable on this account
** Service charges apply as per the Banks prevailing Schedule of Charges

Falah Classic Savings Account (Regular Saving
Account)
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If you are looking for Riba free returns on your investments based on Islamic Financing principles then
Falah Classic Savings Account is best-suited for you. Whether you are an individual or a business entity
looking for competitive returns on savings, this account is designed on the foundation of Mudarabah,
where Bank is the Mudarib (manager of the funds) and you, the customer is the Rabb-ul-Maal (owner
of funds). Bank at its discretion, use or employ your deposited funds in Shariah compliant modes such
as Ijarah, Murabaha and Musharakah.
Bank Alfalah islamic Banking will share profit on the basis of predetermined profit sharing ratio. The rate
of return on your deposit will be determined through a Shariah approved mechanism called weightages,
which are announced before the beginning of each calendar month and shall remain applicable for
upcoming month. In the event of loss, all depositors will share such loss proportionate to their
investment.

Features
Minimum initial deposit and balance requirement of Rs 100 only**.
No maximum balance limit.
Profit is calculated on average balance of the month and paid semi-annually.
No restriction on number of deposit or withdrawal transactions.
Single tier account.

Benefits
VISA Debit/ATM Card accepted at over 30 million outlets and more than 2 million ATMs worldwide.
Free cheque books, pay orders and demand drafts.
Convenience of Online banking across all Bank Alfalah Islamic branches nationwide, with no
charges.
Free e-statements.
SMS alerts on every transaction.
Complimentary account statement semi-annually.

* Withholding Tax and Zakat is applicable as per existing policy of Government.
*Profit rates of all Islamic Banking deposit products are declared on monthly basis. Profit is credited to accounts within 7
working days of next month, but is value dated to the first of the month.
** No initial deposit would be required for opening of account by (i) Mustahiqqeen of Zakat (ii) Students (iii) Employees of
Govt. Semi-Govt institutions for salary and pension purposes (including widows/children of deceased employees eligible for
family pension/benevolent fund grant, etc) and other similar types of accounts.)

Falah Mahana Amdani Account
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If you are looking at earning monthly profits with easy accessibility to your growing savings at all times,
then Falah Mahana Amdani Account is what you are looking for. Whether you are an individual or a
business entity you can benefit from this account.
It is a profit bearing deposit account designed on the foundation of Mudarabah, where Bank is the
Mudarib (manager of the funds) and you, the customer is the Rabb-ul-Maal (owner of funds). Bank at
its discretion use or employ your deposited funds in Shariah compliant modes such as Ijarah, Murabaha
and Musharakah. Bank Alfalah Islamic Banking will share the profit on the basis of predetermined profit
sharing ratio. The rate of return on your deposit will be determined through a Shariah approved
mechanism called weightages, which are announced before the beginning of each calendar month and
shall remain applicable for upcoming month. In the event of loss, all depositors will share such loss
proportionate to their investment.

Feature
Profit is calculated on average balance of the month and paid every month.
Minimum initial deposit for account opening is Rs. 10,000 only.
Maximum balance limit is Rs. 25 million.
No restriction on number of deposit or withdrawal transactions.
Tier base account.

Benefits
VISA Debit/ATM Card accepted at over 30 million outlets and more than 4,000 ATMs worldwide.
Free cheque books, pay orders and demand drafts.
Convenience of Online banking across all Bank Alfalah Islamic branches nationwide, with no
charges.
Free e-statements.
SMS alerts on every transaction.
Complimentary account statement semi-annually.

*In case the account balance exceeds maximum limit i.e 25 million, the profit rate of Alfalah
Musharaka Saving Accounts tier of Rs. 25 million to Rs. 49.99 million will be applied.
.
**Withholding Tax and Zakat is applicable as per existing policy of Government.
Note:
*Profit rates of all Islamic Banking deposit products are declared on monthly basis. Profit is credited to accounts within 7
working days of next month, but is value dated to the first of the month.

Click here to download Customer Notice

Falah Business Account
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If you have a business with large transaction volumes or an individual and in search of an account that
can be managed conveniently, then Falah Business Account is the best choice to cater to your day to
day banking needs. It comes with the flexible features of a current account and also gives monthly
profits.
It is a profit bearing deposit account designed on the foundation of Mudarabah, where Bank is the
Mudarib (manager of the funds) and you, the customer is the Rabb-ul-Maal (owner of funds). Bank at
its discretion, use or employ your deposited funds in Shariah compliant modes such as Ijarah, Murabaha
and Musharakah. Bank Alfalah Islamic Banking will share the profit on the basis of predetermined profit
sharing ratio. The rate of return on your deposit will be determined through a Shariah approved
mechanism called weightages, which are announced before the beginning of each calendar month and
shall remain applicable for upcoming month. In the event of loss, all depositors will share such loss
proportionate to their investment.

Features
Profit is calculated on daily balance and paid every month.
Minimum initial deposit and monthly balance requirement of Rs. 100,000 only.
No maximum balance limit.
No restriction on number of deposit or withdrawal transactions.
Multiple tier account.

Benefits
VISA Debit/ATM Card accepted at over 30 million outlets and more than 2 million ATMs worldwide.
Free cheque books, pay orders and demand drafts.
Convenience of Online banking across all Bank Alfalah Islamic branches nationwide, with no
charges.
Free e-statements.
SMS alerts on every transaction.
Complimentary account statement semi-annually.

*Withholding Tax and Zakat is applicable as per existing policy of Government.
Note:
*Profit rates of all Islamic Banking deposit products are declared on monthly basis. Profit is credited to accounts within 7
working days of next month, but is value dated to the first of the month.

Alfalah Musharaka Saving Account
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Alfalah Musharaka Saving Account not only gives you return on your investments, but also makes your
day to day business banking needs extremely convenient with a host of free banking services.
It is a profit bearing deposit account designed on the foundation of Mudarabah, where Bank is the
Mudarib (manager of the funds) and you, the customer is the Rabb-ul-Maal (owner of funds). Bank at
its discretion, use or employ your deposited funds in Shariah compliant modes such as Ijarah, Murabaha
and Musharakah. Bank Alfalah Islamic Banking will share the profit on the basis of predetermined profit
sharing ratio. The rate of return on your deposit will be determined through a Shariah approved
mechanism called weightages, which are announced before the beginning of each calendar month and
shall remain applicable for upcoming month. In the event of loss, all depositors will share such loss
proportionate to their investment.

Features
Profit is calculated on average balance of the month and paid every month.
Minimum initial deposit and monthly balance requirement of Rs. 10,000 only.
No maximum balance limit.
No restriction on number of deposit or withdrawal transactions.
Multiple tiers.

Benefits
VISA Debit/ATM Card accepted at over 30 million outlets and more than 2 million ATMs worldwide.
Free cheque books, pay orders and demand drafts.
Convenience of Online banking across all Bank Alfalah Islamic branches nationwide, with no
charges.
Free e-statements.
SMS alerts on every transaction.
Complimentary account statement semi-annually.

*Withholding Tax and Zakat is applicable as per existing policy of Government.

Note:
*Profit rates of all Islamic Banking deposit products are declared on monthly basis. Profit is credited to accounts within 7
working days of next month, but is value dated to the first of the month.

Falah Foreign Currency Savings Account
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Falah Foreign Currency Savings Account enables you to earn Riba free returns on your foreign currency
deposits. You can open the account singly or jointly.
It is a profit bearing deposit account designed on the foundation of Mudarabah, where Bank is the
Mudarib (manager of the funds) and you, the customer is the Rabb-ul-Maal (owner of funds). Bank at
its discretion, use or employ your deposited funds in Shariah compliant modes such as Ijarah, Murabaha
and Musharakah. Bank Alfalah Islamic Banking will share the profit on the basis of predetermined profit
sharing ratio. The rate of return on your deposit will be determined through a Shariah approved
mechanism called weightages, which are announced before the beginning of each calendar month and
shall remain applicable for upcoming month. In the event of loss, all depositors will share such loss
proportionate to their investment.

Features
Account can be opened in US Dollar, Pound Sterling or Euro currency.
Minimum initial deposit and balance requirement of 100/- (USD, GBP or EURO).
No maximum balance limit.
No restriction on deposit and withdrawal transactions.
Profit is calculated on average balance of the month and paid semi-annually.
Single tier account
Free e-statements.
SMS alerts on every transaction.

Benefits
Free cheque books.
Complimentary account statement semi-annually.
Free E-statements
SMS alerts on every transaction (charges as per SOC)

Falah Notice Period Deposit
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With Falah Notice Deposit Account, your savings earn Riba free profit with the choice of short notice
periods, so you can access your money if you need to. You can place funds in this product if you are an
individual or a business entity.
It is a profit bearing fixed deposit account designed on the foundation of Mudarabah, where Bank is the
Mudarib (manager of the funds) and you, the customer is the Rabb-ul-Maal (owner of funds). Bank at
its discretion, use or employ your deposited funds in Shariah compliant modes such as Ijarah, Murabaha
and Musharakah. Bank Alfalah Islamic Banking will share the profit on the basis of predetermined profit
sharing ratio. The rate of return on your deposit will be determined through a Shariah approved
mechanism called weightages, which are announced before the beginning of each calendar month and
shall remain applicable for upcoming month. In the event of loss, all depositors will share such loss
proportionate to their investment.

Features
Available for 7 and 30 days terms.
Profit is paid on maturity.
Minimum initial deposit and balance requirement of Rs. 100,000 only.
No maximum balance limit.
Rollover option available upon written intimation.

*Withholding Tax and Zakat is applicable as per existing policy of Government.

Falah Term Deposit Certificates
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It is a profit bearing fixed deposit account designed on the foundation of Mudarabah, where Bank is the
Mudarib (manager of the funds) and you, the customer is the Rabb-ul-Maal (owner of funds). Bank at
its discretion, use or employ your deposited funds in Shariah compliant modes such as Ijarah, Murabaha
and Musharakah.
Bank Alfalah Islamic Banking will share the profit on the basis of predetermined profit sharing ratio. The
rate of return on your deposit will be determined through a Shariah approved mechanism called
weightages, which are announced before the beginning of each calendar month and shall remain
applicable for upcoming month. In the event of loss, all depositors will share such loss proportionate to
their investment.
You can place funds in this product if you are an individual or a business entity.

Features
Invest with a minimum deposit of Rs. 100,000 only
Available for 1 month, 3 months, 6 months, 1 year, 2 Year, 3 Year and 5 Year terms
No maximum deposit limit.
Profit is paid on maturity.
Rollover option available upon written intimation.
Multiple tiers

*Withholding Tax and Zakat is applicable as per existing policy of Government.
** In case of premature encashment profit shall be calculated and paid on the basis of actual declared monthly profit rates of
TDR for the corresponding completed period as per related tier for the relevant period of stay of deposit with the Bank.

Falah Mahana Munafa Certificates
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If you are looking to earn high rate of returns on your savings with the flexibility of withdrawing your
profits at your convenience, then Falah Mahana Munafa Certificates may be best suited for you. You
can place funds in this product if you are an individual or a business entity.
It is a profit bearing fixed deposit account designed on the foundation of Mudarabah, where Bank is the
Mudarib (manager of the funds) and you, the customer is the Rabb-ul-Maal (owner of funds). Bank at
its discretion, use or employ your deposited funds in Shariah compliant modes such as Ijarah, Murabaha
and Musharakah. Bank Alfalah Islamic Banking will share the profit on the basis of predetermined profit
sharing ratio. The rate of return on your deposit will be determined through a Shariah approved
mechanism called weightages, which are announced before the beginning of each calendar month and
shall remain applicable for upcoming month. In the event of loss, all depositors will share such loss
proportionate to their investment.

Features
Invest with a minimum deposit of Rs. 100,000 only
Available for one and five year tenures
No maximum balance limit.
Profit is paid monthly.
Rollover option available upon written intimation.
Multiple tier product

*Withholding Tax and Zakat is applicable as per existing policy of Government.
** In case of premature encashment profit shall be calculated and adjusted on the basis of actual declared monthly profit
rates of TDR for the corresponding completed period as per related tier for the relevant period of stay of deposit with the
Bank.
Note:
*Profit rates of all Islamic Banking deposit products are declared on monthly basis. Profit is credited to accounts within 7
working days of next month, but is value dated to the first of the month.

Falah 3 Year Term Deposit Certificate (Monthly Income
Certificate)
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With Falah 3 Year Term Deposit Certificates you earn high rate of returns on your savings with the
flexibility of withdrawing your profits at your convenience as a regular source of income. You can place
funds in this product if you are an individual or a business entity.
It is a profit bearing fixed deposit account designed on the foundation of Mudarabah, where Bank is the
Mudarib (manager of the funds) and you, the customer is the Rabb-ul-Maal (owner of funds). Bank at
its discretion, use or employ your deposited funds in Shariah compliant modes such as Ijarah, Murabaha
and Musharakah. Bank Alfalah Islamic Banking will share the profit on the basis of predetermined profit
sharing ratio. The rate of return on your deposit will be determined through a Shariah approved
mechanism called weightages, which are announced before the beginning of each calendar month and
shall remain applicable for upcoming month. In the event of loss, all depositors will share such loss
proportionate to their investment.

Features
Invest with a minimum deposit of Rs. 100,000 only.
Investment is fixed for three years.
Maximum deposit limit of Rs. 25 million.
Profit is paid monthly.
Rollover option available upon written intimation.
Single tier product.

*Withholding Tax and Zakat is applicable as per existing policy of Government.
** In case of premature encashment profit shall be calculated and adjusted on the basis of actual declared monthly profit
rates of TDR for the corresponding completed period as per related tier for the relevant period of stay of deposit with the
Bank.

Note:
*Profit rates of all Islamic Banking deposit products are declared on monthly basis. Profit is credited to accounts within 7
working days of next month, but is value dated to the first of the month.

Falah Musharaka Term Deposit Certificates Foreign
Currency
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If you are looking to earn high rate of returns on your foreign currency savings, then Falah Musharaka
Term Deposit Certificates maybe best suited for you. You can place funds in this product single or
jointly.
It is a profit bearing fixed deposit account designed on the foundation of Mudarabah, where Bank is the
Mudarib (manager of the funds) and you, the customer is the Rabb-ul-Maal (owner of funds). Bank at
its discretion, use or employ your deposited funds in Shariah compliant modes such as Ijarah, Murabaha
and Musharakah. Bank Alfalah Islamic Banking will share the profit on the basis of predetermined profit
sharing ratio. The rate of return on your deposit will be determined through a Shariah approved
mechanism called weightages, which are announced before the beginning of each calendar month and
shall remain applicable for upcoming month. In the event of loss, all depositors will share such loss
proportionate to their investment.

Features
Available for 1 month, 3 months, 6 months and 1 year terms.
Account can be opened in US Dollar, Pound Sterling or Euro currency.
Invest with a minimum deposit of 1,000 USD/GBP/Euro
No maximum deposit limit.
Profit is paid on maturity.
Rollover option available upon written intimation.
Single tier product

* In case of premature encashment profit shall be calculated and paid on the basis of actual declared monthly profit rates of
TDR for the corresponding completed period as per related tier for the relevant period of stay of deposit with the Bank.

Murabaha
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If you are looking at financing for purchase of raw material, goods and merchandising as well as export
financing and Import financing, then Murabaha is best suited for you. Murabaha is a commonly known
Working Capital Finance widely used in Islamic Banks. Murabaha refers to sale where the seller
discloses the cost of commodity and the amount of profit charged. Thus it is not a loan given on interest
rather it is a sale of commodity at profit. The mechanism of Murabaha is that upon your request, the
Bank purchases commodity as per your requirements and sells to you at cost-plus-profit basis.
Therefore, the Bank, rather than advancing money to you, buys the goods from third party and sells
them to you on profit.

Salam
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Salam is used as a mode of finance in Islamic Banks to cater to the working capital needs. Salam is a
contract of Sale where the Seller undertakes to supply some specific commodity to the Buyer at a future
date in exchange for a price fully paid in advance. Hence, the price is paid in cash whereas delivery of
the purchased Goods is deferred.

Istisna
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Istisna is ideally suited for exporters and manufacturers who have export orders in the shape of
Sight/Usance Letter of Credit/ Sight Export Contract (D/P)/ Usance Export Contract (D/A).
It is a special kind of sale transaction where manufactured goods are transacted before it (the good)
comes into existence. It is an agreement of sale at an agreed price whereby the purchaser places an
order with agreed price for manufacturing/ construction and assembling anything to be delivered at a
future date. Istisna can be used to cater to the working capital requirements of a business involved in
the manufacturing of goods as well as for long term projects.