Dubai Islamic Bank

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Dubai Islamic Bank

  1. 1. Sequence of Presentation Introduction Vision Deposits Business with customer Management remuneration Profit calculation
  2. 2. INTRODUCTION PIONEER • The world’s first Islamic bank best modern banking. • combined the best of traditional Islamic values with the technology and innovation FORMATION • 1975, Dubai Islamic Bank has established itself as the undisputed leader in its field
  3. 3. Vision To be the leading Islamic Bank providing Shari’a compliant financial services, by creating value for all stakeholders.
  4. 4. ACCEPTANCE OF SAVINGS FROM CUSTOMERS
  5. 5. DEPOSITS Saving Account E- Saving Current Account Saving Plus Fixed Deposits Special saving Junior Account
  6. 6. CURRENT ACCOUNT Qarz-e-hasana Non-remunerative checking account Transact frequently An ideal low cost option No minimum balance restriction Free account statement on a six monthly basis
  7. 7. SAVINGS ACCOUNT Investment for depositors to earn Halal returns Flexibility to withdrawn depositor is fund provider or Rabbul-Maal DIBPL is fund manager Mudarib) Unrestricted Mudaraba
  8. 8. ESAVING ACCOUNT The power to control financial future from anywhere and anytime. Online Account opening Unrestricted Mudaraba Free Internet & Mobile Banking No issuance of cheque book
  9. 9. SAVINGS PLUS Save and Spend 100% HALAL High profit High Balance Institutions have high liquidity enjoying this account
  10. 10. SPECIAL SAVINGS High profit on high balance Profit calculation on daily base product Murabaha base Profit Payment is on monthly base ATM/ VISA Debit Card Facilities only for Individual Account Holders
  11. 11. FIXED DEPOSIT Mix of long and short term benefits to depositors wants Halal returns on their savings. Unrestricted Mudaraba Common pool
  12. 12. JUNIOR ACCOUNT Riba free banking 1st bank offreing No minimum balance
  13. 13. BUSINESS OF BANK WITH CUSTOMERS By:WARDA MEHAK
  14. 14. MUSHARAKAH • A PARTNERSHIP • BANK PARTICIPATES IN PROJECTS AND SHARES THE CAPITAL AND RETURNS. • OWNERSHIP OF ASSETS ON A PERMANENT OR A NON- PERMANENT BASIS • PROFIT IS SHARED WITH AN AGREEMENT BETWEEN THE BANK AND THE CUSTOMER
  15. 15. Mudarabah PARTNERSHIP BETWEEN THE BANK AND AN ENTERPRISE PRE-AGREED PERIOD CAN INVEST IN EITHER A NEW OR EXISTING COMPANY PRE AGREED PROFIT PERCENTAGE
  16. 16.  Sales contract  Pre-agreed profit margin  Fixes the deal along with a profit  Time Period : 1. Raw materials & finished goods from 90 to 180 days 2. Machinery and equipment unto 5 years MURABAH
  17. 17. SAKUK:  Islamic bond  asset-backed  proportionate ownership in the underlying asset  Yield generated by the client’s lease of the asset.
  18. 18. ISTISNA  sales contract  Bank agrees to deliver a commodity or an asset at a pre- determined future time at an agreed price.  finance the construction of real estate
  19. 19.  A lease contract  Bank (lessor) leases the property to the customer (lessee)  Return for a rental payment for a specified financing period.  transfer the title of the property to the customer  The leasing period 3-7 years IJARAH
  20. 20. BUSINESS FINANCE:  Shirkatul Melk cum Ijara model  DIBPL enters into relationship by purchasing an undivided share and subsequently leases to leasee.  Financing up to 70% of your property value
  21. 21.  Musharaka cum Ijara model  Home Purchase.  Purchase of undivided share (Home Renovation).  Purchase of undivided share of property from other bank (Balance Transfer) HOME FINANCE:
  22. 22. AUTO FINANCE:  Using Musharaka cum Ijara model to finance your car  Tracker Device & Monitoring  Lowest Insurance/Takaful Rates  Payment Advance Booking Cases  Monthly Rental  Islamic Product
  23. 23. ATM cards Funds transfer  Access your account anytime, anywhere  390 Automated Teller Machines (ATMs)  An unlimited number of Supplementary Cards  withdraw up to Rs. 50,000 per day  Transfer funds between your accounts  Transfer funds to other DIB accounts  Visa Debit Card is used to transfer funds across accounts  Daily transaction limit Rs. 300,000
  24. 24. DECLARATION ON MANAGEMENT REMUNERATION & PROFIT CALCULATION By : Saman Gohar
  25. 25. REMUNERATION MANAGEMENT Bonus is given on the basis of branch performance, not on the basis individual performance
  26. 26. BANK PROFIT Sharia prohibits the fixed interest (Riba) Net profit is the profit earned after subtracting of all the expenses and income taxes. Net Profit %= Net profit/Revenue*100
  27. 27. PROFIT CALCULATION ON VARIOUS ACCOUNTS
  28. 28. Historical Rate sheet for Feb. 2014 Product Month Tiers Rate Saving Regular Feb 2014 Less than Rs.100k upto Rs.500k and above 3.30-3.50% Savings Plus Feb 2014 Less than Rs.500k upto Rs 1 bln and above 3.60-7.55% Special Savings Feb 2014 Less than Rs.500k upto Rs 1 bln and above 3.60-8.50% E-Savings Feb 2014 Less than Rs.10k upto 5 million and above 3.30-7.75%
  29. 29. FIXED DEPOSIT Profit Payment Frequency Tenor Amount of Deposit Profit Rate % (Feb-2014) Pofit at maturity option 1 Month Rs 100k-Rs 100 mln and above 6.00-8.00% 3 Months Rs 100k-Rs 100 mln and above 6.20-8.10% 6 Months Rs 100k-Rs 200 mln and above 6.35-8.35% 1 Year Rs 100k-Rs 500 mln and above 7.65-8.50% 2-7 Years - 8.75-10.15% Monthly Payment 1-7 years Rs 100k-Rs 249.99 mln 7.35-10.00% Quarterly Payment 1-7 years Rs 100k-Rs 499.99 mln 7.40-10.05% Semi Annual Payment 1-7 years Rs 100k-Rs 249.99 mln 7.45-10.10% Profit at Maturity Option
  30. 30. SAVING DEPOSIT-FCY Curre ncy Tenor Amount of Deposit Profit Rate % USD Saving Less than USD 500-USD 500k and above 0.30-0.40% GBP Saving Less than GBP 500-GBP 500k and above 0.30 % EUR Saving Less than EUR 500-EUR 500k and above 0.30 %
  31. 31. TERM DEPOSIT-FCY Currency Tenor Amount of Deposit Profit Rate % USD 3 month USD 2k-USD 500K and above 0.70% USD 6 month USD 2k-USD 500K and above 0.80% USD 1 year USD 2k-USD 500K and above 0.90-1.10%

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