DEPOSIT PRODUCTS
OFFERED BY UBL-AMEEN
Presented By:
Faisal Masood Sheikh – RM Corporate
Muhammad Sharjeel Memon – RM Corporate
Riba & Its Prohibition
‫ٱلربَ ٰوا‬
َّ ‫وأَ َح َّل‬.ۚ
َ . Surah Baqarah (2:285)
ِّ ‫ٱَّللُ ۡٱلبَ ۡي َع َو َح َّر َم‬
Allah has permitted Trade and Prohibited RIBA
“Every loan that draws any premium is Riba”.
Hadith is reported by Hazrat Harith ibn Abi Usamah in his Musnad
Business Model of a Conventional
Bank
Creditor
(Depositor)
 Individuals
 Corporate
Mode of
Credit
Conventional
Bank
 PLS
Interest
Saving
Account
 FI’s
Term
 SME’s
Equity
 Public
Deposit
Funds Lent
Debtor
based
pool managed by
bank
Sector
Withdrawal
Interest
Interest
Business Model of a Islamic Bank
Investment
Account Holders
(Depositors)
Individuals
 Corporate
 FI’s
 SME’s
 Public Sector
Mode of
Deposit &
Funding

Islamic
Banking
Institution
Islamic Banking
Business (Shariah
Compliant)

PLS Saving Account
Mudaraba (Shariah
Murabaha

COII
compliant)
 Ijarah

Equity
pool
managed by bank
 D.
Musharakah
 Sukuk
Income
 Profit
 Rent
 Dividend
Withdrawal
Profit
Shariah Controls of an Islamic Banking
Institution

Shariah Advisors are high ranking Islamic scholars with broad
knowledge & experience in various disciplinary fields, from law,
economics, banking systems and Sharia law

The Shariah Advisors guide the development of banking products
and services, certifies them and assists compliance with Islamic
Sharia

The Shariah auditors ensure that all the transactions are carried out
in strict compliance to Islamic principles of banking
Ameen Shariah Panel

The products of UBL Ameen are Shariah compliant, and monitored
through our panel of Shariah Advisors to ensure that our products
are widely acceptable

UBL Ameen has acquired advisory/consultancy services from
prominent Shariah Scholars:

DR. NOOR AHMED SHAHTAZ as Shariah Advisor. He has over 13 years of
experience in FATAWA and holds to his credit LLB and PhD degree in Islamic Studies

MUFTI HASSAN KALEEM as member of our Shariah Advisory panel. His expertise
in the Islamic banking and finance industry is exceptional
Presentation Outline

UBL & Islamic banking in UBL

Deposit products

Salient features

Funds deployment & distribution

Wrap-up

Q/A
Interesting Facts About UBL &
Islamic Banking In UBL
United Bank Limited is one of the largest commercial bank in Pakistan,
established in 1959 and a group company of Abu Dhabi Group and Best
Way Group


UBL has an asset base of over PKR 550 billion (Figures till Oct-2008)
UBL has a network of over 1000 branches across Pakistan and has a
presence in several overseas locations including U.A.E, Oman, UK &
Switzerland

UBL enjoys a credit rating of AA+ and A-1+ for both long term and
short term periods

UBL has been awarded Islamic Banking license by the State Bank of
Pakistan on December 16, 2006

Interesting Facts About UBL &
Islamic Banking In UBL cont’d

The brand name for Islamic Banking is “Ameen”

UBL Ameen has its presence in all major cities of Pakistan including
Karachi, Lahore, Faisalabad, Sialkot and Peshawar through 5 stand
alone branches

UBL Ameen has also 20 Islamic banking windows in the existing
UBL branches

By the end of year 2009 Ameen has projected to open 15 further
windows in existing UBL branches across Pakistan
Deposit Products Of UBL Ameen

Ameen Current Account (PKR & FCY)
Based on QARZ
Funds received, to be repaid on the demand/notice of the depositor

Ameen Investment Accounts
Based on Mudarabah
A partnership where one partner provides capital (called Rabb-ul-maal) and another
contributes efforts (called Mudarib)

Ameen Saving Account
Investment accounts that have freedom of withdrawal and deposit in which
profit can be received upon periodically

Ameen Certificate of Islamic Investment
Term investment in which higher amount of profit can be received upon
maturity /periodically
Ameen Current Account (PKR & FCY)

First cheque book free

No Minimum balance

Withdrawal on demand at anytime
PKR 100 Million and above 24 hours notice (working days)
 PKR 200 Million and above 48 hours notice (working days)


Collection and clearance of cheques

No hidden charges
Ameen Saving & Certificate of Islamic
Investment

Ameen Certificate of Islamic Investment is taken under the
Shariah compliant terms of Mudarabah

Investor’s funds are pooled together with other depositors and are
invested into Shariah Compliant profitable portfolios

Ameen manages your pooled funds and shares the profit as
Mudarib. In case of loss Ameen get nothing and bear the loss of
cost spent on managing the pool
Salient Features of Deposit Products
Name Of Product / Service
Ameen
Ameen
Ameen Certificate
current Account
Savings
Account
of Islamic Investment
Underlying Islamic Modes
Qarz
Mudarabah
Mudarabah
Acceptable Currency
Pak Rupees, FYC
Pak Rupees
Pak Rupees
Minimum Balance Requirement
Rs. 0
Rs. 0
Rs. 10,000/=
Tenors (Minimum & Maximum)
Not Applicable
Not Applicable
1 Month to 8 Years
Profit Calculation Frequency
Not Applicable
Monthly AVG Bal
Monthly
Periodicity of Profit distribution
Not Applicable
Semi Annually
Maturity / Semi Annually
Salient Features of Deposit Products
Name Of Product / Service
Ameen
Underlying Islamic Modes
Qarz
Acceptable Currency
USD, Euro and Pound Sterling
Type of Product
Current Deposit
Minimum Balance Requirement
USD 500 or equivalent
Target Customer
Individuals(Single or Joint), Sole Proprietorships &
Corporate
Service charges, if any
Cheque Book, Stop Payment, account Statement, Cheque
return
FCY Account
Wrapping Up
:."Verily Allah will never change the condition of a people until they change
themselves." :.(Surah ar-Ra'd Chapter 13, verse 11)
At present Islamic banking has a market share of over 4% of total banking sector of
Pakistan

Demand for Islamic banking products is increasing in all sectors consist of Individuals,
SMEs & Corporate customer alike


SBP is playing a vital role in regulating and monitoring Islamic compliances
 Islamic
banking is adopted on a global scale by Muslims and non Muslims
 Islamic
current accounts in England are becoming more popular with non-Muslims
because of growing concern about where their deposits are invested*
 On
global scale five cities include Kuala Lumpur, Dubai, London, Singapore & Hong Kong
are trying to become hub of Islamic banking
* "Non-Muslims snap up Islamic accounts", BBC News, December 18, 2006
Thank you for giving us an opportunity
to provide you an overview of
Islamic banking deposit products
offered by UBL Ameen