Al Baraka’s Guarantee Deposit Account affords you the opportunity to select from a range of Bank
Guarantees that are carefully tailored to secure your business and property transactions.
What are the benefits you will enjoy?
- Permissible returns on investments
- Quick turn-around times on establishment of guarantees
- Option to renew guarantees upon maturity
- IT3(b) Certificates and Statements are made available
What qualification criteria apply?
- No minimum deposit amount is required and additional deposits are permitted
- Performance Guarantees are issued up to a maximum period of three (3) years. Guarantees
exceeding the three (3) year period may be issued at the discretion of the bank
- Property guarantees are issued for a maximum period of 120 days
Who should apply for the Guarantee Deposit Account?
- Individuals, entities, property investors or property developers who require shariah-compliant returns on
deposits paid for during property requisition
- Individual or entities who are required to provide a Bank Guarantee in the normal course of business
How do you apply?
For all your Guarantee requests, engage with us by contacting your nearest Al Baraka Bank Branch through the following platforms:
Tel: 0860 225 786
Email:firstname.lastname@example.org or email@example.com