50,000 or its equivalent in other major approved currencies.
Offers a profitable and Shariah-compliant investment option.
The bank engages in a contract with you to invest your funds in a chosen commodity at an agreed-upon price. You can then earn profit by selling the commodity at a later date for a higher price, ensuring a secure and ethical investment approach.
Investment period
Months
1
Minumum
Months
12
Maximum
Exceptional Investment period
50,000
Minimum
100,000
Maximum
Minimum Deposit
Multiple Currencies
Accepts Saudi Riyals and other approved major currencies.
Key Requirements
to open a Murabaha Deposit Account
Minimum age of 18 years, except for Saudi nationals with a valid ID card, who may qualify at 15 years old.
Saudis, GCC citizens with proof of Saudi address, and non-Saudis/GCC residents with valid Iqama.
No administration fees an minimum investment amount of 50,000 or equivalent in US Dollars or Euros.
Documentation
Short Term Investment Agreement (Etifaqiaht Istithmar Qasseer Al Ajal).
Authorization to Buy Commodities (Taukeel Bishira Silaa) provided to SAIB.
Murabaha Contract for Commodities (Aqd Murabaha Silaa) to sell the commodities to the Bank.
Service Standards
The entire process of opening an account takes no more than 25 minutes at any of SAIB Branches.
Terms & Conditions
Click here to view the Account opening terms and conditions.
Example: 1
| Investment amount ( ) | 100,000 |
| Investment Tenor (Months) | 1 |
| Profit margin % | 0.400 |
| Number of withdrawals allowed | Not applicable |
The above table is for illustration only, and the profit margin may differ according to the amount and maturity period.
Example: 2
| Investment amount ( ) | 1,400,000 |
| Investment Tenor (Months) | 6 |
| Profit margin % | 1.00 |
| Number of withdrawals allowed | Not applicable |
The above table is for illustration only, and the profit margin may differ according to the amount and maturity period.
Example: 3
| Investment amount ( ) | 1,000,000 |
| Investment Tenor (Months) | 12 |
| Profit margin % | 0.550 |
| Number of withdrawals allowed | Not applicable |
The above table is for illustration only, and the profit margin may differ according to the amount and maturity period.
FAQs
This is an Islamic short-term investment product based on the concept of Murabaha and approved by the Bank’s Shariah Board.
The Murabaha Deposit allows you to make a healthy profit on your money.
You enter into a contract with SAIB to invest money in commodities. You then agree to sell these commodities at an agreed future date and profit.
To know more please contact our Flexx Call contact center at 800 124 8000.
- No administration fees.
- Flexibility in Investment period i.e. from 1 month to 12 months.
- Low Minimum Investment Amount – Start an investment with just 50,000! However, for investment amounts between SR 50,000 and 100,000 the minimum period would be 3 months.
- Available in Saudi Riyals, US Dollars and Euro.
Any customer having an account with the Bank.
There is no maximum, you can invest as much as you want.
50,000 or equivalent in US Dollars or Euro.
The entire process will not take more than 25 minutes.
Please click here to submit your contact details. Our representative will call you to complete formalities within 2 business days.
You can also contact our Flexx Call contact center at 800 124 8000 or visit any of our branches.