Karobari Munafa is a high profit savings account specifically tailored for large Corporate or GoP-controlled entities. It allows customers to earn higher returns on surplus cash balances, has no preset transaction limits and comes with a variety of free packaged benefits.
Karobari Munafa Account can be opened by Individuals, Sole-Proprietorships, Partnerships and Limited Companies.
The Karobari Munafa Account works on the principle of Mudarabah under which the customer is an Investor (Rab-ul-Maal), and the Bank is the Manager (Mudarib) of the funds deposited by the customer. The Bank allocates the funds received from the customers to a Deposit pool. Funds in the pool are invested under Islamic modes of finance that include but are not restricted to Murabaha, Sukuk and Ijarah.
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