The Economy website monitors the advantages of the Al-Ghad Al-Mubarak account from the Saudi Arab Bank.
Al-Ghad Al-Mubarak Account is a Shariah-compliant account. It is the ideal solution to achieve your savings goals and develop your savings and your familyโs savings for a better and safer future.
Advantages
There is no minimum balance required to open the account.
Immediate access to the account with an Arab ATM card.
Carry out an unlimited number of transactions using the ATM card, Al Arabi Net, Al Arabi mobile and Al Arabi phone.
Profit on your savings for the months in which you carry out transactions on the account, provided that they do not exceed two debits/cash withdrawals.
Profits are calculated on the average monthly balance, and credited to the account every six months.
The Blessed Tomorrow Account for Children aims to inculcate the concept of savings among your children, and provide them with a better tomorrow by providing and investing savings.
Advantages
The account is opened in the name of the child under the age of 18 (under guardianship).
In addition to enjoying all the attractive features of the Al-Ghad Al-Mubarak Account, there is no requirement to maintain a minimum balance in the account to achieve a profit margin on savings.
The service of crediting the amounts with complete ease from your account to the account of the minor child directly by placing fixed instructions on your account.
You can get IBAN numbers for all your checking accounts, savings accounts, and overdraft accounts through:
Al Arabi Net, Al Arabi Mobile, or Al Arabi Phone.
Automated teller machines.
Bank branches.
Account statement.
Hedging (protection) from fluctuations in financing rates
The product aims to protect against fluctuations in the cost of financing. It is a complex product that contains tawarruq and investment in Murabaha operations, with several mechanisms and formulas that suit the requirements of customers.
the promise
The product aims to provide a legitimate mechanism for customers wishing to hedge against price fluctuations in the financial markets, and the product is based on a promise that is compatible with Shariah controls. The product includes two parties: the promising and the promised. The promisor issues a unilateral promise (a pledge to sell or buy or an undertaking to conclude a transaction such as a tawarruq or murabaha transaction on a specified date).
Al Mubarak product linked to the markets
The product provides a mechanism for investment in different markets with the possibility of protecting the capital in different proportions according to the customer’s desire, and it is linked to market indicators
Murabaha investment account
The product aims for a Shariah-compliant investment, as the product is the Islamic alternative to the traditional fixed deposit product.
The customer appoints the bankโs treasury department as his agent to buy commodities from international markets (mostly minerals), and after purchase, the customer sells the commodity to the bank for an agreed profit margin, and the bank then pays the customer on the basis of deferred maturity dates agreed upon between the two parties.
