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Islami Foreign Currency Account

Features

BankIslami Islami Foreign Currency account is ideal for businesses and individuals who would like to diversify their investment in different currencies to ensure security against currency fluctuations or want to keep foreign currency account to meet their business needs. Also, you can have easy access to foreign currency with no hassles of foreign exchange conversion when you have to travel abroad or remit funds abroad to meet education, leisure or business needs.

Key Features

  • Safe deposit lockers (subject to availability)
  • Hold Mail & Stop payment facility
  • Available in USD, GBP & EURO
  • A minimum balance of USD 100/-or equivalent in GBP or EURO to open the account
  • Joint Account facility
  • Free Account statement facility
  • Free Internet Banking service
  • Round the clock phone Banking through 111-ISLAMI (475-264)
  • Personalized service from Customer Relationship Officers
How It Works?

BankIslami’s Islami foreign currency account is based on the Islamic principle of Qarz (loan) whereby you are the lender and the Bank is the borrower. These funds are invested in halal business ventures only so that you are 100% sure that your funds are managed in a Shariah compliant manner. The funds are payable to you on demand as and when required with neither any addition nor penalty.

To Understand the Difference between Islami foreign currency account and conventional current account kindly click

Documents

The documents required vary with the customer category as follows:

  • Salaried Individual /Joint Account Holders
    • Filled Account Opening Form
    • Computerized National Identity Card (CNIC)
    • Passport (for Non-residents only)
    • Employment proof (Pay slip, Employment letter etc)
  • Sole Proprietors
    • Filled Account Opening Form
    • Computerized National Identity Card (CNIC)
    • Passport (for Non-residents only)
    • NTN Certificate
  • Partnership/Club/Society/Association/NGO/Trust
    • Certified Copy of Partnership/ Trust Deed
    • Certificate of Registration
    • Signatures of all Partners on letter of Partnership
    • Certified copy of rules
    • Certified copy of resolution
    • Copy of by-laws
    • Copy of NTN Certificate
    • CNICs of all Partners
    • Passports (for Non-residents only)
  • Limited Company
    • Certificate of Incorporation
    • Certificate for Commencement of Business (PLC only)
    • Memorandum of Association
    • Articles of Association
    • Current list of Directors
    • Copy of Board Resolution
    • CNICs of all Directors
    • Copy of NTN Certificate and Form 29
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