Islamic Banking Solutions

The Islamic bank is a bank that is compliant with sharia provisions in all its banking, financial and consultant transactions. It is affiliated in as a financial institution to The Central Bank of Egypt in terms of supervision. In addition, the Islamic bank is compliant with sharia provisions in all transactions and products provided to the client, either these products are investment deposits, or investment certificates, or saving account.
An Islamic bank meet the client’s finance needs. Through providing him/ her many choices. The Islamic bank has a sharia supervisory board comprises Islamic scholars, who always give consultancy in all the new banking solutions.

Islamic Banking Solutions:

The United Bank manages its Islamic banking portfolio fully complied with to the principles of Sharia, under slogan "Rakhaa”.

For Islamic products” and all its transactions in all forms (savings and investment accounts - Islamic deposits – Islamic certificates- Islamic finance) are under supervision and control of the Central Bank of Egypt and Sharia Board.

Sharia Supervision Board:

The United bank seeks to meet the various Islamic financing needs of its customers through a unique marketing mixed products and Islamic banking solutions.

The United bank has a Sharia supervisory board that encompass a constellation of experts in Sharia economics and Islamic banking.

 Sharia board supervises the work of Islamic banking division activities, and report to the board of directors.

Main standards of profit sharing distribution & settlements:

The bank compiles all the customer funds in Sharia compliant Mudarba and invests them through a wide Islamic financing products, such as Mudaraba, Musharaka, Murabaha, Ijara, Salam, Istisnaa, and other forms of Islamic investments, which are approved by the Sharia Board as Sharia-compliant products.

The profit sharing distribution between the bank (the Mudarib) and the customer (Rab-almal) illustrated here in under, and the Bank may subject to the approval of the Sharia Board, make appropriate settlements to these shares at the beginning of each new financial period for Mudaraba.

In case of loss, loss is borne solely by the financier (Rab-almal) and the loss of working partner (the Mudarib) is limited to the time spent on the venture. However, (the Mudarib) is liable for losses due to misconduct, negligence or breach of the Mudaraba contract terms and conditions.

The United Bank will pay part of customers profits under the reckoning, quarterly or periodically until final settlement are made in accordance with the results of the actual activities of the Islamic division.

The Bank conducts settlements in accordance with Sharia Board Fatawa and guided by financial standards issued by the Accounting and Islamic Auditing Organization (AAOIFI).

To view the Mudaraba profit distribution rates between the bank and customers....  Click here

Know Your Rights & Responsibilities (KYR)

Our dear customer, as you are our partner in the banking process and in light of fairness and transparency, we are offering you a way to be protected from risks. The journey starts from good knowledge of all your rights and responsibilities……Click here for further details:

Dividend Schedule