Pak Rupee Chequing Account

Overview

Our Mudarabah-based Pak Rupee Chequing Accounts offer Shariah-compliant savings solutions with the added convenience of daily transactions. Available in both individual and joint accounts, these accounts provide flexibility with no minimum-balance requirement and offer profit on a daily or monthly basis, depending on the account type. With instant credit for remittances, 24/7 access via over 650 branches and ATMs nationwide, and hassle-free transactions through online banking, our chequing accounts are designed to provide an efficient banking experience. Additional benefits include free debit cards, e-statements, and Internet banking, with the potential for eligibility in other Islamic financing products.

Available Accounts

Product	Islamic Pakwattan Remittance Account
Currency	PKR
Minimum Balance Requirement	No minimum balance requirement
Eligibility	The account will be offered to Individual (Beneficiary(ies) single or joint, which can be maximum 2. The account holder should be 18 or above at the time of account opening with valid CNIC, ARC & POC.
Transactional Convenience	Access to account from all online branches nationwide. Instant credit of remittance into Islamic PakWatan Remittance Account with no branch visit required. Hassle-free remittance collection through ATMs (no forms filling or waiting at branch counters). 24/7 customer support through the Call Center. No Daily or Monthly credit/ debit limits.
Additional Benefits	No minimum balance requirement. Free SMS alerts facility on Digital Transactions. Free E-Statement Free Internet Banking Customers may be eligible for Ijarah Bis Sayyarah (Car Financing) & Askari Home Musharakah (House Financing to be offered in the second phase) after six months of maintaining Islamic PakWatan Remittance Account, subject to eligibility criteria of AKBL-Ikhlas. Availability of Web based account opening facility. Zakat (on Savings account) to be deducted as per applicable laws.
Special Waivers	Free Visa Debit Card issuance (annual fee will be as per prevailing SOC). Free issuance of 25 leaves cheque book at the time of opening (Charges as per prevailing SOC for subsequent cheque books).

Name of Product:	Askari Halal Saving and Notice Account (AHSAN)
Underlying Mode:	Mudarabah
Acceptable Currency:	Pak Rupees
Initial deposit:	No initial deposit required.
Tenors	Minimum: N/A, Maximum: N/A
Profit Calculation Basis	Average Monthly Balance
Periodicity of Profit Distribution	Monthly
Target Customers:	All Individual and Non-individual segments
Service Charges (if any):	As per Schedule of Charges (SOC), AKBL- Ikhlas
Value–Added Features:	Free Services: Debit Card Issuance (for individuals and sole proprietors only) Intercity/Online Banking Facilities (Cash Deposits/ Withdrawals) from AKBL Network Fund Transfers within AKBL Banker’s Cheque Issuance E-statements I-Net Banking (for individuals and sole proprietors only) Inter Bank Transfer via RAAST Exclusive Free Value-Added Services on maintaining a monthly average balance of PKR 25,000 only Cheque Books Issuance Cheque Returns OTC transaction SMS Accidental Takaful Coverage up to PKR 2 Mn – Individual Customers only* Duplicate Account Statements Same Day/Special Clearing Intercity Cheque Clearing Stop Payment Banker’s Cheque Cancellation Debit Card Annual Fee Waiver (Based on Visa Tiering)
Other Features	No minimum balance requirement for profit applicability. Withdrawals of funds are subject to written 24-hour notice for Rs.10M-200M deposit and 48-hour notice for more than Rs.200M.

Name of Product:	Askari Halal Saving Account (AHS)
Underlying Mode:	Mudarabah
Acceptable Currency:	Pak Rupees
Type of Product:	Remunerative Current Account (chequing A/c)
Minimum Balance Required:	Rs.100/= (for account opening only)
Tenors:	Minimum: N/A Maximum: N/A
Profit Calculation Basis:	Average Daily Balance
Periodicity of Profit Distribution:	Monthly
Target Customers:	Business Enterprises (business community/retailers etc.) and Individuals
Service Charges (if any):	As per Schedule of Charges (SOC), AKBL - Ikhlas.
Other Features:	Free value-added services (subject to change): For All Types of Account Holders: Online Funds Transfer Issuance of Cheque Book Local Remittances (Banker’s Cheque) Same Day Clearing Inter-city Clearing Outward Cheque Returned Unpaid Duplicate Account Statements For Individual Account Holders Only: Issuance of ATM Card ATM Card Annual Fee I-Net Banking Facility Mobile Banking SMS Alerts for Cash Withdrawal through ATM and I-Net Banking Inter-bank Fund Transfer 1-Link Switch Charges Profit rate on this product shall be very nominal No minimum balance requirement/charges for account maintenance No minimum balance requirement for profit applicability

Name of Product:	Ahsan Munafa Account
Underlying Mode:	Mudarabah
Acceptable Currency:	Pak Rupees
Type of Product:	Savings (chequing account)
Minimum Balance Required:	Rs.100 (for account opening only)
Tenors:	Minimum: N/A Maximum: N/A
Profit Calculation:	Daily product basis
Periodicity of Profit Distribution:	Monthly
Service Charges (if any):	As per the Schedule of Charges – Islamic Banking
Other Features:	No minimum balance requirement/charges for maintenance of the account No minimum balance requirement for profit applicability

Description	Specific Product Details
Name of Product	Ahsan Munafa – Corporate Account (AMC)
Underlying Mode	Mudarabah
Acceptable Currency	Pak Rupees (PKR)
Type of Product	Savings (chequing A/c)
Minimum Balance requirement	There is no minimum balance requirement but for profit eligibility, different ranges/slabs will be applicable. PKR 100/- required for Account Opening
Tenor	Min: N/A, Max: N/A
Profit Calculation	Daily Product Basis
Periodicity of Profit Distribution	Monthly
Service Charges (if any)	As per Schedule of Charges – Islamic Banking)
Other Features	Target Customers Proprietorship Firms Partnership Firms Limited Companies (Public & Private) Government and Semi-Government Organizations Clubs/Societies/Associations/Trusts The range for Profit Eligibility Balance ranging from Rs.500,000/- and above will be eligible for the Product’s profit rate. Balance falling below Rs.500,000/- will be eligible for profit rate based on the weightage of the Ahsan Account (Savings Account) Free e-Statements Conditional Free Services The following facilities will be provided free of charge if an average balance of Rs.1,000,000/- is maintained in the acc. Online Fund Transfers Issuance of ChequeBook Local Remmitances (Banker’s Cheque) Same Day Clearing Inter-City Clearing Outward Cheque returned unpaid in Clearing Issuance of Debit Cards SMS Alert services on all transactions i-net Banking facility

Name of Product:	Askari Halal Saving and Notice Account (AHSAN) – Pensioners
Underlying Mode:	Mudarabah
Acceptable Currency:	Pak Rupees
Type of Product:	Savings (chequing account)
Minimum Balance Required:	Nil (no amount required for account opening)
Tenors:	Minimum: N/A Maximum: N/A
Profit Calculation:	Average Monthly Balance
Periodicity of Profit Distribution:	Monthly
Service Charges (if any):	As per Schedule of Charges – Islamic Banking
Other Features:	No minimum balance requirement/charges for maintenance of account No minimum balance requirement for profit applicability

Description	Specific Product Details
Underlying Mode	Mudarabah
Acceptable Currency	Pak Rupees
Type of Product	Savings (chequing A/c)
Minimum Balance	Rs.100/= (for account opening only)
Profit Calculation	Profit payable on monthly average balance
Profit Distribution	Monthly
Who Can Apply	Authorised dealers of Fauji Fertilizer Company Limited (FFCL)
Service Charges (if any)	As per Schedule of Bank Charges – Islamic Banking
Other Features	Free value-added services: Issuance of first ATM Card (only for individuals & proprietary accounts) Issuance of first chequebook E-Statement facility I-Net Banking facility (only for individuals & proprietary accounts). SMS Alerts facility (both debit & credit transactions) No minimum balance requirement/charges for maintenance of the account. No minimum balance requirement for profit applicability. Nationwide online access to accounts.

Description	Specific Product Details
Underly Mode:	Mudarabah
Acceptable Currency:	Pak Rupees
Type of Product:	Remunerative Current Account (chequing A/c)
Minimum Balance:	Rs.100/= (for account opening only)
Profit Calculation:	Profit payable on the monthly average balance
Profit Distribution:	Monthly
Target Customers:	Authorized dealers of Fauji Fertilizer Company Limited (FFCL)
Service Charges (if any):	As per Schedule of Bank Charges – Islamic Banking
Other Features:	Free value-added services Issuance of first ATM Card (only for individuals & proprietary accounts) Issuance of the first chequebook E-Statement facility I-Net Banking facility (only for individuals & proprietary accounts) SMS Alerts facility (both debit & credit transactions) Waiver of Financing Facility processing charges Issuance & cancellation of demand drafts & pay orders Issuance of duplicate demand drafts & duplicate pay orders No charges for inter-branch online withdrawals No charges on inter-branch online deposits No charges for inter-branch online transfers No charges on a collection of cheques through NIFT Nationwide online access to accounts The profit rate on this product shall be very nominal No minimum balance requirements/charges for the maintenance of the account No minimum balance requirement for profit applicability

Description	Specific Product Details
Underlying Mode:	Mudarabah
Acceptable Currency:	Pak Rupees
Type of Product:	Savings (chequing A/c)
Minimum Balance:	Rs. 10,000,000/-
Profit Calculation:	Daily product Basis
Periodicity of Profit Distribution:	Monthly
Target Customers:	Business Enterprises, High Net Worth Individuals, Financial Institutions, Government/ Corporate Entities etc.
Service Charges (if any):	As per Schedule of Bank Charges – Islamic Banking
Other Features:	Withdrawals of funds are subject to written 24 hours notice for Rs.10-200M deposit and 48 hours notice for Rs.200M+ deposits

Description	Specific Product Details
Name of Product	Askari Islamic Asaan Account
Underlying Mode	Mudarabah
Acceptable Currency	Pak Rupees
Type of Product	Savings (chequing A/c)
Minimum Balance Required	Rs. 100/- (for account opening only)
Tenors	Min: N/A, Max: N/A
Profit Calculation	Profit payable on monthly average balance
Periodicity of Profit Distribution	Monthly average balance
Service Charges (if any)	As per Schedule of Charges – Islamic Banking
Other Features	Free eStatements Free iNet Banking No service Charges at the time of opening and closing of Account

Monthly Profit Payment**
Profit calculation on Daily Product Basis
No initial deposit requirement
Minimum monthly balance requirement Rs. 100,000***
Free first 10 leaves Cheque Book*
Free first Customized Debit Card Issuance*
End to end digital onboarding option available (Account opening within 48 hours subject to completion of all the requirement)
Inter branch Online Cash Deposit/Withdrawal
Internal Fund Transfer within AKBL via Branch (Online Transfer)
Free SMS Alerts on Digital Transactions
Free I-Net and Mobile Banking
E-statement Facility

*Subsequent Charges/Annual Fees would be as per prevailing Schedule of Charges

**Zakat and taxes are applicable as per law

*** In case of Shortfall in the minimum average balance requirement service charges for free services being offered will be charged as per SOC.

Features	Details
Banking Channel	Islamic
Product Type	Saving Account
Underlying Mode	Mudarabah
Currency	LCY – PKR
Minimum Balance Requirement	No minimum balance requirement
Eligibility	All Pakistani individuals/POC holders. Resident or non-resident individuals, whether remitter, prospective remitter or beneficiary of home remittances..
Profit Calculation	Average Monthly Balance
Profit Distribution Frequency	Monthly
Features and Requirements	Debit Card to be offered (Free Issuance of PayPak Classic, as default). Cheque Book to be offered. Undertaking that the source of funds is home remittances. For non-residents, undertaking regarding their non-resident status and regarding informing the bank of any change in residency status. Bank shall provide option to customer to house the account in a specific branch, for availing relevant branch banking services, such as collection of cheque book/ATM. I-Net Banking SMS Alerts
Transactional Details	This account can only be fed through foreign inward home remittances. Any other form of remittance (other than all forms of Home Remittance including same bank model & different bank model) to be restricted. Local Credits to be restricted. Subject to consent of customer, cash-over-counter (COC) home remittance can be credited directly into SDIRA where the beneficiary name & ID document number matches the SDIRA title and CNIC/ID number. Non-repatriable account.

*All charges will be charged as per prevailing Schedule of Charges

Following are the key features of the products offered under Askari Islamic Go Accounts:

No Opening Balance Requirement
No Minimum Balance Requirement
Profit to be calculated on Average Monthly Balance
Profit distribution on Monthly basis
Account Opening through nationwide Branches and Digital Banking
Available in PKR Currency only
In the name of applicant, Individual Singly and Jointly Operated Accounts
Cheque book or other negotiable instruments not to be offered
Credit or overdraft facility not to be offered
Instant Account Opening or a maximum time span of two working days upon completion of all documents.
24/7 customer support through the Contact Center

Free Services Include:

Issuance of PayPak Debit Card
Inter Branch Online Cash Deposit (Online Deposit)
I-Net Banking
E-statements
SMS Alerts on digital transactions
Annual Fee of PayPak card to be waived if average balance of PKR 10,000/- is maintained monthly*
Free Education Takaful Plan – Rs. 10,000/- per month, in case of death of guardian or parents.

*If average balance is not maintained, Annual Fees would be as per prevailing Schedule of Charges

No documents available.

First Name *

Last Name

Email *

Mobile Number *

CNIC Number *

Date of Birth *

Account with Askari Bank *

Product Name

Alternate Number

City *

Branch *

Net Income

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