Al-Wadiah Savings Account
Syariah Concept
Al-Wadiah Yad Ad Dhamanah (Guaranteed Safe Custody)
Type of Account
- Individual
- Individual Account
- Joint Account
- Non-Individual (Business Account)
Eligibility
- Age 18 and above
- Open to Bruneian citizens, permanent residents
- Initial Deposit of $50 (Individual)
- Initial Deposit of $1000 (Non-Individual)
Methods of Deposit
- Cash Deposit
- Cheque Deposit
- Bank Standing Instruction
- Assignment of Salary and Allowance.
- Salary Deduction
- Automated Teller Machine (ATM) and Multi-Function Machine (MFM)
Basic Documentation Requirement*
- Individual
- Birth Certificate
- Identity Card
- Non-individual*
- Limited Company
- Form X
- Memorandum and Articles of Association
- Certificate of incorporation
- Mandate of Account – Limited Company
- Board of Resolution to be signed by all directors
- Latest Annual Return
- Return on Allotment of Shares
- Valid identification for shareholders holding > 25% shares
- All director’s valid identification per form X
- Authorized signatory / signatories valid identification (identity card or passport)
- Photography of IC / Passport of all Corporate Admin (Corporate Internet Banking)
- Sole Proprietor / Partnership
- Mandate of Account – Sole proprietorship/Partner
- Original Certificate of Company Registration 16 & 17
- Sole Proprietor’s/ all partners valid identification as per section 16 & 17 and as per bank’s “individual’s” ID requirements
- Authorized signatory /signatories valid identification (identity card or passport)
- Photocopy of IC / Passport of all Corporate Admin (Corporate Internet Banking)
- Association / Non-profitable organization
- Constitution of association
- Certificate of registration
- List of governing body or equivalent
- Mandate of Account – Sole proprietorship/Partner
- Resolution of the governing council or equivalent approving the opening of the Al-Wadiah account(s) and/or to apply for the services
- List of authorized person(s)
- Copy valid identification for authorized signatories
Benefits
- TAIB ATM Card*
- Cash withdrawal not exceeding B$4,000.00
- Bill payment services
- Balance enquiry
- Request of Accounts statement
- Internal fund transfer
- 24/7 ATM and MFM Facilities
- Hibah (Dividend) at TAIB’s discretion at the end of the year
- Short Message Service (SMS) Notification
- Auto Zakat Deduction