Islamic Corporate Current Account

Islamic Corporate CurrentAccount

The Corporate Islamic Current account is Shariah Compliant transactional product which is offered to NBC Corporate and Business customers who seek Shariah compliant solutions for their funds with the transactional facility. The Corporate Islamic Current account is based on the Qardh principle (An interest-free loan contract whereby repayment is equal to the amount borrowed).  This product is available in more than one currency depending on the customer’s preference. It’s provided under Tzs, USD, EURO and GBP.

Features of the Account:

  • The Corporate Islamic Current account is compliant with Shari’ah Law.
  • It’s a multicurrency Products (Tzs, USD, EURO and GBP)
  • It allows Internet transactions.
  • The deposit of funds into the account is capital guaranteed.
  • A Free monthly statement.
  • A minimum monthly balance of Tzs 100,000.00 is required.
  • Minimum opening balance of Tzs 100,000.00 to corporate and business customers is required.
  • An unlimited number of withdrawals are allowed for transactions over the counter, with no maximum withdrawal amount, provided the account balance is sufficient.
  • There is no overdraft facility on Corporate Islamic Current account.
  • No maximum / minimum deposit amount is required to transact on the account.