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DEPOSIT PRODUCTS OFFERED BY UBL-AMEEN Presented By: Faisal Masood Sheikh – RM Corporate Muhammad DEPOSIT PRODUCTS OFFERED BY UBL-AMEEN Presented By: Faisal Masood Sheikh – RM Corporate Muhammad Sharjeel Memon – RM Corporate

Riba & Its Prohibition . . ٱﻠ ٱﻞﻱ ٱﻠ ﻭﺍ Surah Baqarah (2: 285) Riba & Its Prohibition . . ٱﻠ ٱﻞﻱ ٱﻠ ﻭﺍ Surah Baqarah (2: 285) Allah has permitted Trade and Prohibited RIBA “Every loan that draws any premium is Riba”. Hadith is reported by Hazrat Harith ibn Abi Usamah in his Musnad

Business Model of a Conventional Bank Mode of Credit Conventional Bank v PLS Saving Business Model of a Conventional Bank Mode of Credit Conventional Bank v PLS Saving v. Interest based v FI’s Account v. Term Deposit pool managed by bank v SME’s v. Equity Creditor (Depositor) v Individuals v Corporate Funds Lent v. Debtor v Public Sector Withdrawal Interest

Business Model of a Islamic Bank Investment Account Holders Mode of Deposit & Funding Business Model of a Islamic Bank Investment Account Holders Mode of Deposit & Funding Islamic Banking Institution Islamic Banking Business (Shariah v PLS Saving Account v. Mudaraba (Shariah v. Murabaha v FI’s v COII compliant) v SME’s v Ijarah v Equity pool managed by bank (Depositors) v Individuals v Corporate v Public Sector Compliant) v D. Musharakah v Sukuk Income v Profit v Rent v Dividend Withdrawal Profit

Shariah Controls of an Islamic Banking Institution v Shariah Advisors are high ranking Islamic Shariah Controls of an Islamic Banking Institution v Shariah Advisors are high ranking Islamic scholars with broad knowledge & experience in various disciplinary fields, from law, economics, banking systems and Sharia law v The Shariah Advisors guide the development of banking products and services, certifies them and assists compliance with Islamic Sharia v The Shariah auditors ensure that all the transactions are carried out in strict compliance to Islamic principles of banking

Ameen Shariah Panel v The products of UBL Ameen are Shariah compliant, and monitored Ameen Shariah Panel v The products of UBL Ameen are Shariah compliant, and monitored through our panel of Shariah Advisors to ensure that our products are widely acceptable v UBL Ameen has acquired advisory/consultancy services from prominent Shariah Scholars: v DR. NOOR AHMED SHAHTAZ as Shariah Advisor. He has over 13 years of experience in FATAWA and holds to his credit LLB and Ph. D degree in Islamic Studies v MUFTI HASSAN KALEEM as member of our Shariah Advisory panel. His expertise in the Islamic banking and finance industry is exceptional

Presentation Outline v UBL & Islamic banking in UBL v Deposit products v Salient Presentation Outline v UBL & Islamic banking in UBL v Deposit products v Salient features v Funds deployment & distribution v Wrap-up v Q/A

Interesting Facts About UBL & Islamic Banking In UBL United Bank Limited is one Interesting Facts About UBL & Islamic Banking In UBL United Bank Limited is one of the largest commercial bank in Pakistan, established in 1959 and a group company of Abu Dhabi Group and Best Way Group v v UBL has an asset base of over PKR 550 billion (Figures till Oct-2008) UBL has a network of over 1000 branches across Pakistan and has a presence in several overseas locations including U. A. E, Oman, UK & Switzerland v UBL enjoys a credit rating of AA+ and A-1+ for both long term and short term periods v UBL has been awarded Islamic Banking license by the State Bank of Pakistan on December 16, 2006 v

Interesting Facts About UBL & Islamic Banking In UBL cont’d v The brand name Interesting Facts About UBL & Islamic Banking In UBL cont’d v The brand name for Islamic Banking is “Ameen” v UBL Ameen has its presence in all major cities of Pakistan including Karachi, Lahore, Faisalabad, Sialkot and Peshawar through 5 stand alone branches v UBL Ameen has also 20 Islamic banking windows in the existing UBL branches v By the end of year 2009 Ameen has projected to open 15 further windows in existing UBL branches across Pakistan

Deposit Products Of UBL Ameen v Ameen Current Account (PKR & FCY) Based on Deposit Products Of UBL Ameen v Ameen Current Account (PKR & FCY) Based on QARZ Funds received, to be repaid on the demand/notice of the depositor v Ameen Investment Accounts Based on Mudarabah A partnership where one partner provides capital (called Rabb-ul-maal) and another contributes efforts (called Mudarib) v Ameen Saving Account Investment accounts that have freedom of withdrawal and deposit in which profit can be received upon periodically v Ameen Certificate of Islamic Investment Term investment in which higher amount of profit can be received upon maturity /periodically

Ameen Current Account (PKR & FCY) v First cheque book free v No Minimum Ameen Current Account (PKR & FCY) v First cheque book free v No Minimum balance v Withdrawal on demand at anytime PKR 100 Million and above 24 hours notice (working days) v PKR 200 Million and above 48 hours notice (working days) v v Collection and clearance of cheques v No hidden charges

Ameen Saving & Certificate of Islamic Investment v Ameen Certificate of Islamic Investment is Ameen Saving & Certificate of Islamic Investment v Ameen Certificate of Islamic Investment is taken under the Shariah compliant terms of Mudarabah v Investor’s funds are pooled together with other depositors and are invested into Shariah Compliant profitable portfolios v Ameen manages your pooled funds and shares the profit as Mudarib. In case of loss Ameen get nothing and bear the loss of cost spent on managing the pool

Salient Features of Deposit Products Name Of Product / Service Ameen Certificate current Account Salient Features of Deposit Products Name Of Product / Service Ameen Certificate current Account Savings Account of Islamic Investment Underlying Islamic Modes Qarz Mudarabah Acceptable Currency Pak Rupees, FYC Pak Rupees Minimum Balance Requirement Rs. 0 Rs. 10, 000/= Tenors (Minimum & Maximum) Not Applicable 1 Month to 8 Years Profit Calculation Frequency Not Applicable Monthly AVG Bal Monthly Periodicity of Profit distribution Not Applicable Semi Annually Maturity / Semi Annually

Salient Features of Deposit Products Name Of Product / Service Ameen Underlying Islamic Modes Salient Features of Deposit Products Name Of Product / Service Ameen Underlying Islamic Modes Qarz Acceptable Currency USD, Euro and Pound Sterling Type of Product Current Deposit Minimum Balance Requirement USD 500 or equivalent Target Customer Individuals(Single or Joint), Sole Proprietorships & Corporate Service charges, if any Cheque Book, Stop Payment, account Statement, Cheque return FCY Account

Wrapping Up : . Wrapping Up : . "Verily Allah will never change the condition of a people until they change themselves. " : . (Surah ar-Ra'd Chapter 13, verse 11) At present Islamic banking has a market share of over 4% of total banking sector of Pakistan v Demand for Islamic banking products is increasing in all sectors consist of Individuals, SMEs & Corporate customer alike v v SBP is playing a vital role in regulating and monitoring Islamic compliances v Islamic banking is adopted on a global scale by Muslims and non Muslims v Islamic current accounts in England are becoming more popular with non-Muslims because of growing concern about where their deposits are invested* v On global scale five cities include Kuala Lumpur, Dubai, London, Singapore & Hong Kong are trying to become hub of Islamic banking * "Non-Muslims snap up Islamic accounts", BBC News, December 18, 2006

Thank you for giving us an opportunity to provide you an overview of Islamic Thank you for giving us an opportunity to provide you an overview of Islamic banking deposit products offered by UBL Ameen