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What is an unrestricted Islamic investment account « TANMYA »?
It is a contract in which the customer (Rab-al-Mal) deposits funds with the bank (Moudharib), who uses them to finance investment projects that comply with Shari'a law. The aim is to generate a profit, which will be shared between the bank and the customer according to a predetermined distribution key.
For whom it is intended?
The Unrestricted Islamic Investment Account 'TANMYA' is intended for:
- Private individuals;
- Professionals;
- Companies;
Who are of Algerian nationality or are subject to Algerian law.
Eligibility requirements:
You must have a current or Islamic cheque account with the bank.
How does the account work?
- The Unrestricted Islamic Investment Account (TANMYA) holds funds in Algerian dinars for a period of between three and sixty months from the date of deposit.
- The minimum deposit amount is set in accordance with the bank's general terms and conditions.
How are profits distributed?
- Generated profits are shared between the bank and the Islamic account holder according to a pre-agreed profit-sharing key.
Investment remuneration
The remuneration of the unrestricted Islamic investment account is based on the 'Moudharaba' principle and calculated according to the investment's duration and deposit amount, using the following distribution key:
| Duration of the investment | Bank share | Customer share |
| From 3 to 6 months | 49% | 51% |
| From 6 to 12 months | 45% | 55% |
| From 12 to 18 months | 35% | 65% |
| From 18 to 24 months | 30% | 70% |
| From 24 to 36 months | 25% | 75% |
| From 36 to 48 months | 20% | 80% |
| From 48 to 60 months | 15% | 85% |