Wakalah Concept
Wakalah FAQs
Wakalah concept refers to a contract whereby the Customer (Muwakkil) appoints
Perbadanan TAIB as its agent (Wakil) and authorises Perbadanan TAIB to manage whole
or any
part of the Customer’s savings in business and investment provided that all such
transactions are in conformity with Syariah principles.
The change is on the Syariah concept of identified products that were initially based
on the Syariah concept of Wadi’ah Ad Dhamanah and Qardh.
The change of the underlying concept from Wadi’ah Yad Dhamanah and Qardh to Wakalah
for the identified products will take effect from 1st March 2025 for new and existing
account holders.
-
Retirement Saver
-
Ar-Rizq and Corporate Ar-Rizq Term Deposit
The rate of return offered is based on expectations and is purely indicative. The
actual rate of return can only be determined when the payment of return depends on
the return on investment.
The Wakalah concept will enable Perbadanan TAIB to provide its Customers with more
value added to its products and services.
There will be no changes to how you operate your accounts.
No, Perbadanan TAIB will not charge fee for this change.
No, there is no requirement for you to perform new aqad if you agree with the change.
-
There is no further action required if you agree with the change as it will be
automatically converted on 1st March 2025. There will be no change to
your existing Perbadanan TAIB Account number(s) and the operation of the
Accounts.
-
If you disagree with this change, you may explore other deposit products
available in Perbadanan TAIB before 17th February 2025.
Your deposits or savings are managed with a high level of diligence and
professionalism. Perbadanan TAIB only selects
and monitors investment opportunities ensuring all decisions are made based on
thorough analysis and sound judgment.
While capital protection is not guaranteed, Perbadanan TAIB prioritise risk
management make every effort to maximise
returns while safeguarding your deposits.
No. By maintaining your account with us after the conversion, you would have deemed
to have given your consent and
agreement to the conversion exercise in accordance with General Terms and
Conditions.
For more information, you can call our TAIB Call Centre at
+673 2220299 or visit any of our branches.
Wakalah concept refers to a contract whereby the Customer (Muwakkil) appoints Perbadanan TAIB as its agent (Wakil) and authorises Perbadanan TAIB to manage whole or any part of the Customer’s savings in business and investment provided that all such transactions are in conformity with Syariah principles.
The change is on the Syariah concept of identified products that were initially based on the Syariah concept of Wadi’ah Ad Dhamanah and Qardh.
The change of the underlying concept from Wadi’ah Yad Dhamanah and Qardh to Wakalah for the identified products will take effect from 1st March 2025 for new and existing account holders.
- Retirement Saver
- Ar-Rizq and Corporate Ar-Rizq Term Deposit
The rate of return offered is based on expectations and is purely indicative. The actual rate of return can only be determined when the payment of return depends on the return on investment.
The Wakalah concept will enable Perbadanan TAIB to provide its Customers with more value added to its products and services.
There will be no changes to how you operate your accounts.
No, Perbadanan TAIB will not charge fee for this change.
No, there is no requirement for you to perform new aqad if you agree with the change.
- There is no further action required if you agree with the change as it will be automatically converted on 1st March 2025. There will be no change to your existing Perbadanan TAIB Account number(s) and the operation of the Accounts.
- If you disagree with this change, you may explore other deposit products available in Perbadanan TAIB before 17th February 2025.
Your deposits or savings are managed with a high level of diligence and professionalism. Perbadanan TAIB only selects and monitors investment opportunities ensuring all decisions are made based on thorough analysis and sound judgment. While capital protection is not guaranteed, Perbadanan TAIB prioritise risk management make every effort to maximise returns while safeguarding your deposits.
No. By maintaining your account with us after the conversion, you would have deemed to have given your consent and agreement to the conversion exercise in accordance with General Terms and Conditions.
For more information, you can call our TAIB Call Centre at +673 2220299 or visit any of our branches.