Money Market Deposit
Islamic treasury offers a wide range of deposit / investment products to be used by its clients based on various Syariah approved concepts to meet its diverse client needs and applications:
Mudharabah General Investment Account (MGIA)
- Based on the Shariah contract of Mudharabah
- Contract between 2 parties (owner of capital and entrepreneur) to perform business whereby the customer is the owner of capital and RHBIB is the entrepreneur
- Owner of capital does not take part in business but entrust the entrepreneur to invest in Shariah approved activities
- Profit is shared between the parties through a fixed Profit Sharing Ratio (PSR) and the return is based on the R of the Islamic bank
Mudharabah Special Investment Account (MSIA)
- Similar feature to MGIA, with a minimum placement of RM100,000
- Main differences between MGIA and MSIA is the flexible placement up to 365 Days and the PSR is negotiable
Commodity Murabahah Corporate
- Funding activities by RHBIB which is backed by a tripartite Commodity transaction
- The return is fixed and agreed upfront by both parties and placements/deposits could be made in MYR or USD
- Based on the Islamic concept of Murabahah, whereby the depositor will sell the commodities to the bank at a pre-agreed markup
- Typical deposits would be in the minimum of 2 weeks to 1 year
Wakalah Deposit
- Based on Shariah principal of Wakalah bil Istismar – Contract between 2 parties, Wakil and Muwakkil. Customer is the Muwakkil and RHBIB is the Wakil
- The owner of capital does not take part in business but entrust the Wakil to invest in Shariah approved activities
- The expected profit is quoted by the Wakil and a certain agency fee could be charged
