UAN: 111-331-331 04 February, 2012 | Rabi-ul-Awal 11, 1433

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Certificate of Islamic Investment

Truly Halal and Absolutely Riba-Free!

The Certificate of Islamic Investment (COII) is a Mudarabah-based deposit product through which you can invest your savings for periods ranging from 3 months to 5 years and earn Halal profit on a periodic basis.

 

The Certificates of Islamic Investment is an ideal investment for Individuals, Sole Proprietorships, Partnerships and Limited Companies

 

Invest in Certificate of Islamic Investment!

Visit any of Meezan Bank’s branches, fill-in the Application Form and complete a few simple formalities required for investing in Meezan Certificate of Islamic Investment. This is all you need to do to enjoy our personalized banking services.

 

 

Enjoy a range of valuable features including:

 

  • Investment can be made for 3 months, 6 months, 1 year, 2 years, 3 years and 5 years
  • Profit payment options are monthly, quarterly or at maturity
  • Minimum investment required for quarterly and on-maturity payment is Rs. 50,000/
  • Minimum investment required for monthly profit payment is Rs. 200,000/
  • Pre-mature withdrawal can be made as per approved schedule

 

Profit sharing & Distribution Method

 

The Bank calculates the profit of the deposit pool every month. Gross income of the deposit pool is shared between the Bank (Mudarib) and customers (Rab-ul-Maal) on the basis of a predetermined profit-sharing ratio announced at the beginning of the month. The profit is distributed amongst the Account holders on the basis of predetermined weightages, announced at the beginning of the month. In case of a loss, as per the rules of Mudarabah, the Rab-ul-Maal shall bear the loss in the ratio of their investment.

 

 

Profit Sharing Ratio

  • Bank will share 50% of Gross Income as Mudarib
  • Depositor will share 50% of Gross Income as Rab-ul-Maal

 

 

Weightages for the Month of February 2012

Account Categories
Profit Distribution Periods/
Tier groups
Weightage Assigned
Certificate of Islamic Investment - 3 months
3 months
1.05
Certificate of Islamic Investment - 6 months
6 months
1.09
Certificate of Islamic Investment - 1 year
Monthly
1.19
Certificate of Islamic Investment - 1 year
Quarterly
1.22
Certificate of Islamic Investment - 1 year
Maturity
1.38
Certificate of Islamic Investment - 2 years
Monthly
1.22
Certificate of Islamic Investment - 2 years
Quarterly
1.25
Certificate of Islamic Investment - 2 years
Maturity
1.41
Certificate of Islamic Investment - 3 years
Monthly
1.24
Certificate of Islamic Investment - 3 years
Quarterly
1.28
Certificate of Islamic Investment - 3 years
Maturity
1.48
Certificate of Islamic Investment - 5 years
Monthly
1.37
Certificate of Islamic Investment - 5 years
Quarterly
1.48
Certificate of Islamic Investment - 5 years
Maturity
1.75

Consolidated Weightages

Profit Rates for the month of December 2011

% per annum
Tenures
Profit Rates at Maturity
Quarterly Rates
Monthly Rates
Three Months
6.91%
-
-
Six Months
7.17%
-
-
One Year
9.08%
8.02%
7.83%
Two Year
9.27%
8.22%
8.02%
Three Year
9.73%
8.42%
8.16%
Five Year
11.51%
9.73%
9.01%

 

 

 

 

 

 

 

Historical Profit Rates

 

Shariah Fatwa 

Premature Encashment of a Certificate(s)



In case of Premature Encashment of a certificate(s), profit will be paid with respect to the applicable product category rate mentioned below.

 

Early Redemption Schedule for the Certificate of Islamic Investment (Effective: December 20, 2010)
S No.
Tenure
Rates Applicable on Premature Encashment within
    Within 1 Month 1-3 Months 3-6 Months 6-12 Months 1-2 Years 2-3 Years 3-4 Years 5 Years
1.
3 Months
 No Profit Saving Account Rate            
2.
6 Months
 No Profit Saving Account Rate 3 Months COII          
3.
1 Year - Monthly
 No Profit Saving Account Rate 3 Months COII 6 Months COII        
4.
1 Year -Quarterly
 No Profit Saving Account Rate 3 Months COII 6 Months COII        
5.
1 Year -Maturity
 No Profit Saving Account Rate 3 Months COII 6 Months COII        
6.
2 Years -Monthly
 No Profit Saving Account Rate 3 Months COII 6 Months COII 1 Year Monthly COII      
7.
2 Years -Quarterly
 No Profit Saving Account Rate 3 Months COII 6 Months COII 1 Year Monthly COII      
8.
2 Years -Maturity
 No Profit Saving Account Rate 3 Months COII 6 Months COII 1 Year Monthly COII      
9.
3 Years -Monthly
 No Profit Saving Account Rate 3 Months COII 6 Months COII 1 Year Monthly COII 2 Y Monthly COII    
10.
3 Years -Quarterly
 No Profit Saving Account Rate 3 Months COII 6 Months COII 1 Year Monthly COII 2 Y Monthly COII    
11.
3 Years -Maturity
 No Profit Saving Account Rate 3 Months COII 6 Months COII 1 Year Monthly COII 2 Years  Monthly COII    
12.
5 Years- Monthly
 No Profit Saving Account Rate 3 Months COII 6 Months COII 1 Year Monthly COII 2 Years  Monthly COII 3 Years 
Monthly COII		 3 Years 
QuarterlyCOII
13.
5 Years- Quarterly
 No Profit Saving Account Rate 3 Months COII 6 Months COII 1 Year Monthly COII 2 Years  Monthly COII 3 Years 
Monthly COII		 3 Years 
QuarterlyCOII
14.
5 Years- Maturity
 No Profit Saving Account Rate 3 Months COII 6 Months COII 1 Year Monthly COII 2 Years  Monthly COII 3 Years  Monthly COII 3 Years 
QuarterlyCOII

 

 

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