Al - Barakah Current Account

Overview

A Shariah Compliant cheque account designed to facilitate payments. Withdrawals are made on demand or on instruction by a customer to the bank to make payments on his/her behalf and as per the instructions.

  • Underlying Contract is Qardh.
  • Account can be opened and operated in TZS/USD/EURO/GBP
  • Minimum opening balance is TZS 100,000 or USD/EUR/GBP 100
  • Minimum operating balance is TZS 100,000 or USD/EUR/GBP 100
  • Monthly Maintenance fee TZS 13,000 or USD 14 or GBP 9

  • Shariah Compliant i.e. funds are not channeled into impermissible activities.
  • Account is eligible to Cheque book & internet banking to facilitate payments
  • TemboCard Visa / MasterCard can be issued where mandates allow for single signatories

  • Customer must be 18 years and above
  • Any Legal ID (NIDA ID or Number/Voter ID/Passport/Driving License)
  • Low risk individual customers and customers using NIDA ID are not supposed to provide introduction letter from VEO/WEO
  • When opening accounts through Savvy Flow, customer should provide 2 Passport size photos

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