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Individual Accounts

Overview

Al Barakah Banking is a brand name for CRDB Islamic Banking Window; A banking products and services which complies with Islamic business principles and practices.

Al - Barakah Current Account

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.

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  • 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
Al - Barakah Premier Current/Saving Account

This is the account for mid-high-end individuals in middle class from Government, Private Sector, individuals with social status, with income/Net Salary of TZS 2 Million. Also, Business owners with annual turnover of at-least 250 Million and above, and Net Assets worth 300 Million and above.

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 Underlying Contract is Qardh.

 Account can be opened and operated in TZS/USD/EURO/GBP

 Minimum opening balance is TZS 500,000 or USD/EURO/GBP 200

 Premier fee TZS 20,000 or USD/EURO/GBP 11.

 Shariah Compliant i.e. funds are not channeled into impermissible activities.

 Extended banking hours and access to Premier Centers and Lounges.

 Personalized service via dedicated relationship Manager or Relationship Officer.

 Secondary card can be issued upon request.

 Free e-statement

 Free email/SMS alert service

 Cheque book facility upon demand

 Access to self-service channels (Sim Banking, ATM, Agent, Internet Banking etc.)

 Quick resolution of customer complaints and queries.

 Access special discount e.g. on Hotels, Jewelers, Airlines, Restaurants etc.

 Free issuance and renewal of debit cards e.g. Tembo Visa/MasterCard Platinum.

 Customer must be 18 years and above

 Any Legal ID (NIDA ID or Number/Voter ID/Passport/Driving License)

 2 Passport Size photos

 Low risk individual customers and customers using NIDA ID are not supposed to provide introduction letter from VEO/WEO

Al - Barakah Premier Plus Current/Saving Account

This is the account for high end individuals like Senior Government Officials, Top Management from private firms/Companies, Professional with social status/Net Salary of TZS 5 Million and above. Also, business owners with Annual Turnover of at-least 1 Billion and above, and Net Assets worth 500 Million and above.

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 Underlying Contract is Qardh.

 Account can be opened and operated in TZS/USD/EURO/GBP

 Minimum opening balance is TZS 1,000,000 or USD/EURO/GBP 500

 Premier fee TZS 35,000 or USD/EURO/GBP 17.

 Shariah Compliant i.e. funds are not channeled into impermissible activities.

 Personalized service via dedicated relationship Manager

 Extended banking hours and access to Premier Banking outlets (VIVA Club, Premier Centers and Lounges)

 Free issuance and renewal of debit cards e.g. Visa Infinite Card

 Preferential exchange rates

 Special discounts and offers through Visa Infinite Card both Local and International.

 Access to reward programs.

 Access to safe Lockers at Premier Clubs.

 Quick resolution of customer complaints and queries.

 Free e-statement

 Free email/SMS alert service

 Cheque book facility upon demand

 Secondary Card can be issued upon request.

 Access to self-service channels (Sim Banking, ATM, Agent, Internet Banking etc.)

 Unlimited access to VIP Airport Lounges

 Extension debit card limit to POS withdrawal to TZS 50 Mil through Tembo Visa Infinite Card.

 Access Discounts through 900 Visa Luxury Hotel Collection Worldwide.

 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 an introduction letter from VEO/WEO

 When opening accounts through Savvy Flow, customer should provide 2 Passport size photos

Al - Barakah Savings Account

Provides an opportunity to grow deposits through savings and provides ability to access the account through different delivery channels of the bank with 24/7 basis of service.

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 Underlying Contract is Qardh.

 Account can be opened and operated in TZS/USD/EURO/GBP

 Initial opening amount is TZS 20,000 or USD/EURO/GBP 100

 Minimum Operating balance is TZS10,000/- or USD/EURO/GBP 50

 Monthly Maintenance fee TZS 1500 or USD/GBP/EUR 2.5

 Shariah Compliant i.e. funds are not channeled into impermissible activities.

 Eligible for TemboCard Visa /MasterCard, SimBanking and Internet Banking

 It’s subject to monthly and transactional charges

 Account can be opened and operated jointly

 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

Al - Barakah Salary Saving Account

A savings account designed to facilitate salary payments for employees. It is an account in which employees’ salaries are paid by their employers through the Bank

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 Underlying Contract is Qardh.

 Opened in TZS only

 Initial opening amount is TZS 20,000 (for individual applications) and zero for a group application (direct recruitment)

 Minimum operating balance is TZS 10,000

 Monthly Maintenance fee TZS 1500 or USD/GBP/EUR 2.5

 Shariah Compliant i.e. funds are not channeled into impermissible activities.

 Eligible for TemboCard Visa /MasterCard, SimBanking and Internet Banking

 The account cannot be opened or operated jointly

 Customer must be 18 years and above

 Any Legal ID (NIDA ID or Number/Voter ID/Passport/Driving License)

 Employee ID & Introduction Letter from Employer

 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

Al - Barakah Scholar Savings Account

A savings account designed for students to enable them to save their subsistence allowance and pocket money while at university/college or at school.

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 Underlying Contract is Qardh.

 Account can be opened and operated in TZS only

 Initial opening amount is TZS 5,000

 Do not have minimum operating balance

 Shariah Compliant i.e. funds are not channeled into impermissible activities.

 Eligible for TemboCard Visa /MasterCard, SimBanking and Internet Banking

 The account cannot be jointly opened or operated

 Does not attract monthly maintenance fee but charged transactional fees

  •  Account is for students with 18 years and above
  •  Student ID
  •  Introduction Letter from the University/College or School with a glued stamped photo and signature
  •  Exceptions: Scholar Accountcan also be opened with:
    •  Other Legal IDs + Admission/Introduction Letter, OR
    •  Form Four Certificate + Birth Certificate/Medical Insurance ID + Admission/ Introduction Letter
  •  BUT conditional to submitting the missing requirement(s) above within 3 months
  •  When opening via Savvy Flow, customer should also provide 2 Passport size photos
Al - Barakah Malkia Saving Account

A unique saving plan designed for women who aspire to meet their financial obligations as well as personal goals and dreams by investing a small amount every month.

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 Underlying Contract is Qardh.

 Minimum opening balance is TZS 50,000 or USD 50

 Minimum saving amount is TZS 50,000 per month

 Shariah Compliant i.e. funds are not channeled into impermissible activities.

 Minimum saving plan period is 12 months and maximum 24 months

 Customer will be given a non-linked TemboCard Visa /MasterCard as ID

 Joint Accounts are not allowed

 No monthly and no transactional fees

 Customer must be a woman with 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

Al - Barakah Junior Jumbo Saving Account

A savings account specifically designed to enable parents and/or guardians conveniently save for their children, especially for school fees, medical treatment etc.

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  •  Underlying Contract is Qardh.
  •  Account can be opened and operated in TZS/USD/EUR/GBP
  •  Minimum opening balance is TZS 20,000 and for USD/GBP/EUR 20
  •  Minimum Operating balance is TZS 10,000/- USD/GBP/EUR 20
  •  Withdrawal fee TZS 3,000
    •  < 4 Transaction p.a USD/EUR/GBP: FREE
    •  > 4 Transaction p.a USD/EUR/GBP: 10.00 USD/EUR/GBP

 Shariah Compliant i.e. funds are not channeled into impermissible activities.

 Withdrawals are restricted to 4 times per annum

 Eligible to a non-linked TemboCard visa / MasterCard

 The account is not allowed to be registered with SimBanking or Internet Banking

 No joint account or more than one account is allowed per child

 Account is for children below 18 years

 Child’s Birth Certificate

 Parent/Guardian Legal ID

 2 Passport size photos each for Parent/Guardian and Child

 Low risk individual customers and customers using NIDA ID are not supposed to provide introduction letter from VEO/WEO

Al - Barakah Young Money Teens Saving Account

A savings account suitable for students aged 13-17 years old. The account is opened and operated by the child under their parent’s or guardian’s supervision.

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 Underlying Contract is Qardh.

 Currency: TZS

 Initial Opening Balance TZS 20,000

 No Monthly Fees

 No Joint Account operation

 Only one account is allowed per child

 No withdrawal fee

 Shariah Compliant i.e. funds are not channeled into impermissible activities.

 Child can be allowed usage of the debit card so as to build financial responsibility early

 Parent/Guardian retains the mandate on the account

 Affordable minimum opening balance

 Eligible to debit card

 Parent/Guardian receives notification whenever the debit card is used.

 Account is for children between 13 - 17 years

 Child’s Birth Certificate

 Parent/Guardian Legal ID

 2 Passport size photos each for Parent/Guardian and Child

 Low risk individual customers and customers using NIDA ID are not supposed to provide introduction letter from VEO/WEO

Al - Barakah Busara Saving Account

A savings account designed specifically for shareholders of CRDB Bank and other companies registered by DSE which pay their dividends through CRDB Bank, to provide them with an opportunity to save their deposits.

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 Underlying Contract is Qardh.

 Account can be opened and operated in TZS only

 Minimum opening balance is TZS 20,000

 Minimum Operating balance is TZS 10,000

 Shariah Compliant i.e. funds are not channeled into impermissible activities.

 Eligible for digital channels like TemboCard Visa / MasterCard, SimBanking and Internet Banking

 No monthly and withdrawal charges except on alternative channels

 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

Al - Barakah Fahari Saving Account

A saving account specifically designed for customers who are sensitive to some of the bank charges. Some of the notable target segments include employees working under recruitment agencies, bodabodas, laborers, machingas and customers in the similar categories.

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 Underlying Contract is Qardh.

 Acceptable currency is TZS only

 Minimum account opening balance of TZS 10,000

 Minimum account operating balance of TZS 3,000

 Customer can withdraw up to TZS 5 million per day over the counter

 Daily POS/ATM Cash withdrawal limit of TZS 1,000,000

 Total cash withdrawal limit of TZS 5 million per day over the counter

 If the customer fails to operate his/her account on 12 months consecutively, the account shall be subject to monthly fees.

 Shariah Compliant i.e. funds are not channeled into impermissible activities.

 No monthly maintenance fees

 Affordable minimum opening balance

 Convenience of accessing the account 24/7 through ATMs, SimBanking, Internet & CRDB Wakala

 Customers can deposit funds into their Fahari Account using mobile wallet

 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

Al - Barakah Senior Citizen Account

A savings account dedicated to retirees from both government and the private sector.

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 Underlying Contract is Qardh.

 Acceptable currency is TZS only

 Can open account with zero opening balance

 Minimum operating balance can be up to zero

 Shariah Compliant i.e. funds are not channeled into impermissible activities.

 Eligible for Tembo card, SimBanking or Internet Banking

 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

Al - Barakah Fahari Kilimo Account

An account specifically designed to support individual farmers on saving and transactions.

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 Underlying Contract is Qardh.

 Minimum account operating balance of TZS 3,000

 Waiver of account opening balances

 Customer can withdraw up to TZS 1,000,000 per day via POS/ATM

 The account shall be dormant if not operated in 12 months consecutively. However, no penalty shall apply upon reactivation

 Shariah Compliant i.e. funds are not channeled into impermissible activities.

 Eligible for Tembo card, SimBanking or Internet Banking

 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

Al - Barakah Tanzanite Account

A savings account specifically designated for Tanzanians who are living abroad and can save part of their income at home for meeting local family obligations and/or investment.

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 Underlying Contract is Qardh.

 Can be opened and operated in TZS/USD/EURO/GBP

 Minimum opening and operating balance of TZS 100,000 or 100 USD/EUR/GBP

 Minimum operating balance is TZS 100,000, 100 USD/EUR/GBP

 Eligible to TemboCard Visa Gold linked to TZS and USD denominated accounts

 Monthly Maintenance fee TZS 1500 or USD/GBP/EUR 2.5

 Shariah Compliant i.e. funds are not channeled into impermissible activities.

 Eligible to Internet Banking with free online access to the account

 Dedicated RM

 Easy and fast money transfer facilitation

 Affordable Opening and Operating Balance

 Account is eligible for Mortgage Financing

 24/7 Access to call centre Services

 Account can be operated online

 Account is for Diaspora with 18 years and above

 Certified Copy of Passport (last 2 pages) | Visa/Permit | 2 Passport size photos each

 Students: Certified copy of introduction/admission letter.

 Joint accounts: fill 2 forms & required documents.

Al - Barakah HAJJ & Umrah Savings Account

The account is an ideal savings account to save for the purpose of performing the Holy Pilgrimage. Umrah & Hajj.

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 Underlying Contract is Qardh.

 Account can be opened and operated in TZS/USD/EURO/GBP

 Minimum opening balance is TZS 10,000 or USD/EURO/GBP 100

 No withdrawal fees

 No maintenance fees

 Shariah Compliant i.e. funds are not channeled into impermissible activities. No service charges

 No Card is issued.

 Not connected Sim Banking or Internet Banking

 Twice free withdrawal a year. Additional withdrawal, normal withdraw charges will apply.

 Funds invested in Shariah-compliant business activities

 Kids under the age 18 are allowed under supervision of the parent/guardian.

 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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