Gudunfa Saving Account

Gudunfa is a type of mudarabah saving by the use of a designated box and deposits the accumulated fund into their account. Gudunfa box is provided by the bank, and dual control is in place; the box is mainly designed for petty traders, semi-skilled workers, shoe polishers, and other individuals working in private or public organizations. This account can be opened as wadi’ah saving account or as a profit-sharing Mudarabah saving account. The main aim is to encourage saving culture of low-income societies and daily laborers. As the case may be, the bank allots higher profit sharing ratio to Gudunfa mudarabah saving account holders as compared with ordinary mudarabah saving accounts.

Please contact Coopbank Islamic to get more detailed information and advice