Islamic Youth Account
A convenient Shari'ah compliant banking option for Islamic youth under the age of 18.
- Valid ID or birth certificate
- Proof of residence
- Access and manage your money 24/7
- Buy airtime, check balances, and bank on your cellphone or the internet
- Annual profit share
A convenient Shari'ah compliant banking option for Islamic youth under the age of 18
It’s never too early to start banking and what better way to instill money sense into young adults than by opening a bank account. AIB’s Youth Account provides teenagers with the precise materials needed to understand their finances and experience becoming responsible money savers. The Islamic Youth Account is an innovative combination of a transactional and savings account. This allows you the freedom to make the purchases that you need – without the worry of carrying around cash.
With your PIN-secure debit card, you will have the convenience of paying for goods and services at any point-of-sale; as well as having the flexibility of withdrawing cash at any Absa ATM or at selected retailers.
An annual profit share calculated at Absa’s financial year–end (31 December) and paid into your account on 25 January of the following year.
Not the right choice for you? Try the Islamic Savings Account
An Islamic Youth Account could be the right choice if you:
- Are under 18 years of age
- Want to withdraw from any Absa ATM nationwide
- Don’t want to carry around cash and prefer the safety of a debit card
- Want to be able to draw cash at selected retailers (Pick ‘n Pay, Shoprite Checkers, etc.)
- Want a debit card that is accepted countrywide and worldwide where the Visa logo is displayed
- Require a banking solution that is compliant with Shari'ah law
- Direct access to your money – which means you don’t need to carry cash
- A card that can be used for transactions at an ATM and point-of-sale terminals in stores
- A PIN-based debit card – which is the most secure way to verify a transaction
- Banking services usually associated with credit cards – such as making online, mail order and telephone order transactions
- An annual profit share calculated at Absa’s financial year–end (31 December) and paid into your account on 25 January of the following year