Taking advantage of traditional and profitable investment products in a Shari’a compliant manner, Ajman Credit Union’s Islamic treasury desk offers a wide range of alternative banking solutions, such as Tahwat, FX Spot, FX Waad, Murabaha Structure and ISRA to meet different needs and requirement.
Murabaha Structure
Ajman Credit Union brings you the Murabaha Structure which is part of the Treasury’s Islamic Products which are fully approved from Ajman Credit Union’s Shari’a Committee.
The Murabaha Structure is specifically designed for investors who wish to combine the potential upside of “underlying asset�? growth while protecting their initial investment.
The Structure generally reaches maturity between 6 Months to 5 Years and at the end of the agreed period you will receive your original investment plus the profit counted from indexes. However if no profit was generated your initial investment is secured and will be paid back to you.
FOREX Waad
Ajman Credit Union brings you FOREX Waad which is an Islamic product that allows you to purchase currency for future delivery over a specified rate.
This product is approved by Ajman Credit Union’s Shari’a Committee and gives you the flexibility of taking delivery only if in your favor and whenever required within the agreed set date.
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Payment can be done only when the delivery of the foreign exchange has occurred
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Possibility of having the same rate agreed on the trade date during the whole period, regardless of any changes in the market
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Less documentation is required and is easily understood
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Flexibility, as you can take the delivery of any partial amount needed from the principal hold by the bank after Waad start date
FOREX Spot
Ajman Credit Union provides you with FOREX Spot which allows you to buy currency immediately on an agreed price.
This is an agreement between you and Ajman Credit Union, where the bank purchases one currency against selling another currency for an agreed price which is settled on the spot date.
Islamic Return Account
Islamic Return Account (ISRA) from Ajman Credit Union is an agreement between you and the bank, where you accept and purchase any Shari’a approved commodity which the bank will acquire in your favor. In this agreement as a cost and surplus is agreed upon between you and the bank.
Ajman Credit Union will then deposit your current account on the maturity date of the agreement with the funds which the commodity was sold for.
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Approved by the Bank’s Shari’a Board
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Anticipated profits comparable with conventional money market returns are higher
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Flexible structure to accommodate customer requirements
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Principal and profit is known at the start of the transaction
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Customer credit risk is on Ajman Credit Union
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Professional investment advice from Ajman Credit Union