Absa Islamic Banking provides a variety of specialized banking, saving and investment solutions that operates in strict compliance with Shari’ah Law.
Absa Islamic Banking is advised and guided by the independent Shari’ah Supervisory Board, a panel of experts in Shari’ah Law and its application in economics. The members of the Independant Shari’ah Supervisory Board are Mufti Ashraf Qureishi, Sheikh Tauha Karaan, Dr Yunoos Osman and Dr Aznan bin Hasan.
We understand that customers who seek Shar’iah-compliant banking solutions have essentially the same banking requirements as other customers, and our solutions are developed to ensure that you are able to manage your finances with ease, freedom and flexibility.
Islamic Banking is an alternative to conventional banking that is available to anyone who seeks a different approach to financial services, not only for members of the Muslim community who wish to operate financially in line with Shari’ah Law.
The Islamic Value Bundles are Shari’ah-compliant – offering you affordable Silver, Gold or Platinum pricing options
Everyday transactional account that offers a full range of banking solutions and services
Shari'ah compliant finance for vehicle or other movable assets you want to acquire.
Insurance cover for your vehicle, household and business with useful additional benefits
Travellers cheques, foreign bank notes and cash passports which are Shari'ah compliant
A Shari’ah-compliant savings account that provides you with a pre-agreed profit-share payout and a card that you can use to access your funds at any time
Based on the Mudarabah principle, the Islamic Term Deposit is a fully Shari'ah-compliant investment option.
A convenient Shari'ah compliant banking option for Islamic youth under the age of 18
A monthly savings plan that will produce returns at the end of the calendar year, based on the Mudarabah pre-agreed profit-share principle.
Mudarabah products follow a very well defined process of profit calculation and distribution.
Islamic Law requires that the estate of a Muslim should be distributed according to the Islamic Law of Succession, the detail of which can be found in the Qur’aan in Chapter four
A versatile, Shari’ah compliant investment product that offers personal control over an investment portfolio uniquely suited to investor’s needs.