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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 one year and earn Halal profit on a periodic basis.

Key Features

  • Only for Senior Citizens (aged 60 & above), Widows and PWDs (Persons with Disabilities)
  • Available in PKR only
  • Minimum investment amount for booking is PKR 50,000 only
  • No limit on maximum investment amount
  • Tenure: 1 year
  • Monthly / Maturity profit payment options
  • Early redemption allowed as per pre-mature encashment schedule
  • Auto rollover facility available

How the Certificate of Islamic Investment Works?

Profit Sharing and Distribution Method

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 Musharakah. In case of a loss as per the rule of Mudarabah, the Rab-ul-Maal shall bear the loss as per the ratio of their investment.

Profit Sharing Ratio

Bank will share 50% of Distributable Income as Mudarib

Depositor will share 50% of Distributable Income as Rab-ul-Maal

Weightages
Weightages for the Month of June 2023
ProductsTier groupsWeightage Assigned
COII - Senior 1 Year (Monthly)50K & Above0.68
COII - Senior 1 Year (Maturity)50K & Above0.72
Consolidated Weightages
Profit Rates

Certificate of Islamic Investment

Profit Rates for the Month of May 2023
ProductsTenureProfit Assigned
COII - Senior 1 YearMonthly17.00%
COII - Senior 1 YearMaturity18.00%
Profit Rates
Historical Profit Rates

Zakat Clause : In COIIs Zakat is deducted as per the directives of Zakat and Ushr Ordinance, 1980. Therefore, customers are advised to calculate their Zakat as per the guidelines of their respective school of thought (Makatib e fikr).

Fatwa on Deposit Products

Download Fatwa

Invest in an Islamic Investment Certificate for Seniors

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