Islamic Banking
Islamic Cheque Account
Everyday transactional account that offers a full range of banking solutions and services
- Valid ID
- Proof of residence
- Compliant with Shari'ah Law
- Access and manage your money 24/7
- ATM and debit card
Do you want to be able to access and manage your money anytime, anywhere, while complying with Shari'ah Law? With an Absa Islamic Cheque Account, you will be able to manage your everyday banking needs, from making withdrawals, deposits, transfers and payments to requesting balances and statements – confident that all of the services are Shari'ah compliant.
An Absa Islamic Cheque Account also allows you to manage your money in a variety of convenient ways, including via the internet, your cellphone, an ATM, the telephone or your nearest Absa branch.
Not right for you? We also also offer a Shari'ah compliant Islamic Savings Account.
- Cheque and debit card which can be used world wide
- Convenient 24-hour self-service access through Internet Banking, Cellphone Banking and Telephone Banking
- Your account number stays the same even if you upgrade your account or transfer to another branch
Shari'ah Law governs the manner in which Muslim people conduct their lives, including banking. Islamic Banking is deduced from the Shari'ah Law, hence it differs from conventional banking, and forbids the payment or earning of interest, among other requirements.
As an alternative financial system to conventional banking, each of the solutions within Absa Islamic Banking are managed and administered according to Shari’ah Law under the guidance of the Absa Shari’ah Supervisory Board – comprised of learned Muslim scholars.
This independent board specialises in Fiqh Almua’malat (Islamic Commercial Jurisprudence), directing, approving, reviewing, supervising and monitoring the activities of Absa Islamic Banking to ensure Shari'ah compliance.
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