Gammee – Junior Mudarabah Saving Account

This account is opened by individuals, both male and female, between the age of 0-15. However, the account will be in the name of the child. The account will be administered by the parents/guardian until the child becomes able to do so. Deposit and/or withdrawal transactions are guided or supervised by parents/guardian/tutor. Self-employed Gammes between the ages of 0-15 years can open and operate this account by providing a letter of confirmation from the local administration and/or school administration. The account should be opened and operated by the parents jointly or by the parent or guardian, as the case may be. The bank allots higher profit sharing ratio with Gamme – Junior Mudarabah saving account holders as compared with ordinary Mudarabah saving accounts. This account shall be converted to Ordinary Mudarabah Saving Account, when the account holder reaches the age of 18.

Please contact Coopbank Islamic to get more detailed information and advice