Interest Free Banking

IFB Products & services offered at Awash Bank

FUND MOBILIZATION SCHEME
  •  Wadiah saving accounts
  •  Labbaik-Wadiah savings (For Hadji & Umrah),
  •  Wadiah Educational saving for students
  •  Wadiah current account (Amanah)
  •  Unrestricted Mudarabah Investment account, with more than 1,000,000 initial deposit & pre-agreed PSR between the Bank & the customer
 
FUND UTILIZATION (FINANCING/LOAN) SCHEME
  •  Murabaha Financing scheme, (Cost + Mark-up)
  •  Ijarah Muntahia Bittemlik (IMB)- Financing Ijarah
  •  IFB Trade Services, (Murabaha, Musharakah and Wakalah L/C).
  •  Interest-Free Export Financing scheme (Qard) = Free Loans
  •  IFB Loans from the charity account (Qard) = Free Loans for the most needy person
  •  IFB Bank Guarantees (Kafalah – All types of Bank Guarantees parallel with Conventional Banking)
  •  All Service-based products parallel with the conventional banking one
  •  Hawallah (Hiwalah), etc.
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