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Truly Halal Savings with Competitive Returns

The Riba-free Dollar Savings Account is a Mudarabah-based savings account that you can open and operate using US Dollars and is therefore an excellent business tool for both individuals and corporate clients for meeting their business needs and for diversifying their investment in different foreign currencies to safeguard against currency fluctuations.

Meezan Dollar Savings Account can be opened by Individuals and businesses including Sole Proprietorships, Partnerships and Limited Companies.

Key Features

Free Chequebook

No charges on issuance of chequebook

Minimum Deposit

Minimum investment required to open an account is $100

Profit Payment & Calculation

Profit will be paid on monthly basis and calculated on daily basis

No Deductions

No service charges if the balance maintained is low

Foreign Remittances

Receive Foreign Remittances

Takaful Coverage

Free Takaful Coverage upto Rs. 1 million*

*Terms & Conditions apply

How the Dollar Savings Account Works

Download Fatwa

On agreeing to become a Dollar Saving Account holder, the customer enters into a relationship based on Mudarabah with Meezan Bank. Under this relationship, the customer is an Investor (Rab-ul-Maal) and the Bank is the Manager (Mudarib) of the funds deposited by the customers. The Bank allocates the funds received from the customers to a deposit pool; funds from the pool are utilized to provide financing to customers under Islamic modes that include, but are not restricted to Murabaha, Ijarah, Istisna and Diminishing Musharkah.

Profit Sharing Ratio

Bank will share 75% of Gross Income as Mudarib

Depositor will share 25% of Gross Income as Rab-ul-Maal

Weightages for the Month of December 2019
Account Categories Profit Distribution Period Tier Groups Weightage Assigned
Dollar Savings Account Monthly - 0.45
Consolidated Weightages
Profit Rates for the Month of November 2019
Period Monthly Profit Rates (% per annum)
On Average Monthly Balance 0.64%
Profit Rates
Historical Profit Rates

Want to Open a Dollar Savings Account

Download, Print, Fill Form

PDF version of our printed Account Opening Form is also available for download. You can print the form, fill your details and submit it along with the required documents at your preferred branch.

Download Form

Visit a Branch

You may visit any branch of Meezan Bank and our staff will assist you in filling the printed Account Opening Form and opening your account.

Locate a Branch

Get Contacted

Fill out the form below to be contacted by a Meezan Bank representative.

Get Contacted

Get contacted by our representative!

Fill out the form below and you'll be guided about how you can open your new account.

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