{"id":1762,"date":"2024-07-16T00:00:25","date_gmt":"2024-07-15T21:00:25","guid":{"rendered":"https:\/\/dailybahrain.com\/english\/?p=1762"},"modified":"2024-07-16T00:04:05","modified_gmt":"2024-07-15T21:04:05","slug":"khaleeji-bank-launches-ajyal-account-for-minors-below-the-age-of-21","status":"publish","type":"post","link":"https:\/\/flashseven.com\/english\/?p=1762","title":{"rendered":"Khaleeji Bank Launches \u201cAjyal\u201d Account for Minors below the Age of 21"},"content":{"rendered":"

Bahrain: <\/span><\/span>Khaleeji Bank, one of the leading Islamic Banks in the Kingdom of Bahrain, has recently announced <\/span><\/span>the launch of <\/span><\/span>the <\/span><\/span>\u201cAjyal\u201d Account, a<\/span><\/span>n innovative <\/span><\/span>savings solution designed specifically for minors aged 0<\/span><\/span> \u2013 <\/span><\/span>21<\/span><\/span>years old<\/span><\/span>. This innovative account aims to <\/span><\/span>instil<\/span><\/span> good financial habits and <\/span><\/span>enhance the culture of saving and <\/span><\/span>F<\/span><\/span>inancial <\/span><\/span>L<\/span><\/span>iteracy <\/span><\/span>among younger generations.<\/span><\/span><\/p>\n

With <\/span><\/span>the <\/span><\/span>\u201cAjyal\u201d Account, children can learn the importance of saving and develop essential money management skills from an early age. The account comes in two varieties: <\/span><\/span>\u201cAjyal\u201d <\/span><\/span>Saving Account, which allows for deposits and withdrawals with added privileges in the form of<\/span><\/span> an<\/span><\/span> E<\/span><\/span>xpected <\/span><\/span>P<\/span><\/span>rofit <\/span><\/span>Rate <\/span><\/span>of up to 3.025% depending on their deposit and expenditure behaviour. <\/span><\/span>T<\/span><\/span>he <\/span><\/span>\u201cAjyal\u201d <\/span><\/span>Depositors Account<\/span><\/span>, which<\/span><\/span> is a fixed deposit account based on the principles of <\/span><\/span>Absolute <\/span><\/span>Mudharaba<\/span><\/span>, offering a 12-month <\/span><\/span>T<\/span><\/span>enor and an <\/span><\/span>Expected Profit Rate <\/span><\/span>of up to 5%, starting from<\/span><\/span> a Minimum Deposit of<\/span><\/span> BD 100.<\/span><\/span><\/p>\n

On this occasion, Ms. Ameera Ahmed Al Abbasi, Head of Retail Banking at Khaleeji Bank, stated<\/span><\/span> \u201cWe are delighted to introduce <\/span><\/span>the <\/span><\/span>\u201cAjyal\u201d <\/span><\/span>Saving<\/span><\/span> Account<\/span><\/span> and Depositors Account to our young clients, as it provides<\/span><\/span> innovative <\/span><\/span>solution<\/span><\/span>s<\/span><\/span> that <\/span><\/span>enable them <\/span><\/span>to <\/span><\/span>find seamless ways <\/span><\/span>to perform <\/span><\/span>financial and investment transactions, in compliance with the <\/span><\/span>principles of <\/span><\/span>Islamic Shari\u2019a.\u201d<\/span><\/span><\/p>\n

She continued \u201cThrough the <\/span><\/span>\u201cAjyal\u201d <\/span><\/span>Saving Account, we aim to enhance the culture of saving and <\/span><\/span>F<\/span><\/span>inancial <\/span><\/span>L<\/span><\/span>iteracy for this age group. The account provides them with an <\/span><\/span>E<\/span><\/span>xpected <\/span><\/span>P<\/span><\/span>rofit <\/span><\/span>Rate <\/span><\/span>of up to 2.5% for every monthly deposit of BD<\/span><\/span> +<\/span><\/span>10, and an additiona<\/span><\/span>l<\/span><\/span> 0.5% when making five withdrawals per month using an ATM <\/span><\/span>C<\/span><\/span>ard, which means a total <\/span><\/span>Expected Profit Rate <\/span><\/span>of up to 3.025%.\u201d<\/span><\/span><\/p>\n

She further<\/span><\/span> added \u201cThe <\/span><\/span>\u201cAjyal\u201d <\/span><\/span>D<\/span><\/span>eposit<\/span><\/span>ors<\/span><\/span> A<\/span><\/span>ccount starts from only BD<\/span><\/span> 100, with the possibility of unlimited additional deposits <\/span><\/span>for<\/span><\/span> the Tenor\u2019s duration of <\/span><\/span>one year, with an <\/span><\/span>e<\/span><\/span>xpected competitive <\/span><\/span>P<\/span><\/span>rofit <\/span><\/span>R<\/span><\/span>ate of 5%.<\/span><\/span> The <\/span><\/span>\u201cAjyal\u201d <\/span><\/span>Account is now available for opening through the \u201cKhaleeji<\/span><\/span> App<\/span><\/span>\u201d<\/span><\/span> or by visiting any of the bank\u2019s branches. For parents of minors <\/span><\/span>below the age of 15 years old, they can open an account on behalf of their child. Minors aged 16<\/span><\/span> \u2013 <\/span><\/span>21 can individually open a new account.<\/span><\/span>\u201d<\/span><\/span><\/p>\n

Khaleeji is a leading Islamic Bank that strives to achieve clients<\/span><\/span>\u2019<\/span><\/span>ambitions through an Islamic Banking model that offers a comprehensive range of high quality Shari’a-complaint banking services and investment opportunities to individuals and companies.<\/span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Bahrain: Khaleeji Bank, one of the leading Islamic Banks in the Kingdom of Bahrain, has recently announced the launch of the \u201cAjyal\u201d Account, an innovative savings solution designed specifically for minors aged 0 \u2013 21years old. This innovative account aims to instil good financial habits and enhance the culture of saving and Financial Literacy among […]<\/p>\n","protected":false},"author":2,"featured_media":1766,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":{"source_name":"","source_url":"","via_name":"","via_url":"","override_template":"0","override":[{"template":"1","single_blog_custom":"","parallax":"1","fullscreen":"1","layout":"double-sidebar","sidebar":"single-left","second_sidebar":"default-sidebar","sticky_sidebar":"1","share_position":"top","share_float_style":"share-monocrhome","show_share_counter":"1","show_view_counter":"1","show_featured":"1","show_post_meta":"1","show_post_author":"1","show_post_author_image":"1","show_post_date":"1","post_date_format":"default","post_date_format_custom":"Y\/m\/d","show_post_category":"1","show_post_reading_time":"0","post_reading_time_wpm":"300","show_zoom_button":"0","zoom_button_out_step":"2","zoom_button_in_step":"3","show_post_tag":"1","show_prev_next_post":"1","show_popup_post":"1","number_popup_post":"1","show_author_box":"0","show_post_related":"0","show_inline_post_related":"1"}],"override_image_size":"0","image_override":[{"single_post_thumbnail_size":"crop-500","single_post_gallery_size":"crop-500"}],"trending_post":"0","trending_post_position":"meta","trending_post_label":"Trending","sponsored_post":"0","sponsored_post_label":"Sponsored by","sponsored_post_name":"","sponsored_post_url":"","sponsored_post_logo_enable":"0","sponsored_post_logo":"","sponsored_post_desc":"","disable_ad":"0"},"jnews_primary_category":{"id":"","hide":""},"footnotes":""},"categories":[99],"tags":[],"class_list":["post-1762","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bahrain"],"_links":{"self":[{"href":"https:\/\/flashseven.com\/english\/index.php?rest_route=\/wp\/v2\/posts\/1762"}],"collection":[{"href":"https:\/\/flashseven.com\/english\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/flashseven.com\/english\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/flashseven.com\/english\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/flashseven.com\/english\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1762"}],"version-history":[{"count":2,"href":"https:\/\/flashseven.com\/english\/index.php?rest_route=\/wp\/v2\/posts\/1762\/revisions"}],"predecessor-version":[{"id":1767,"href":"https:\/\/flashseven.com\/english\/index.php?rest_route=\/wp\/v2\/posts\/1762\/revisions\/1767"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/flashseven.com\/english\/index.php?rest_route=\/wp\/v2\/media\/1766"}],"wp:attachment":[{"href":"https:\/\/flashseven.com\/english\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1762"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/flashseven.com\/english\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1762"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/flashseven.com\/english\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1762"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}