FOREIGN CURRENCY TIME DEPOSIT-i (TAWARRUQ)

Make your extra foreign currencies work with returns

Why you will love this
Who can apply

Why you will love this

Based on the Shariah principle of Tawarruq

Place in 3 different currencies – USD, SGD or GBP

Automatic renewal for the same period upon maturity at prevailing profit rates

Who can apply

All businesses including SMEs as defined by SME Corporation Malaysia

Locate a branch

Deposit your foreign currencies over a period and earn profit.

FEATURES AND BENEFITS

Flexible placement periods

Select a placement period of your choice between 1 week and 12 months.

Up to 3 currencies available

Choose between USD, GBP and SGD.

Automatic renewal

Grow your money by renewing automatically with earned profit or credit the profit earned to your business account upon maturity.

INITIAL DEPOSIT

Currency
USD
SDG
GBP

Initial deposit
10,000
10,000
5,000

Before you apply

Eligibility requirements

Business registration

All businesses including SMEs as defined by the SME Corporation Malaysia are welcomed to apply.

Early settlement

No profit will be paid for any withdrawals made prior to maturity.

Terms and conditions

Protected by PIDM up to RM250,000 for each depositor.

This deposit is an eligible deposit insured by Malaysian Deposit Insurance Corporation (PIDM). PIDM insures eligible deposits for up to RM250,000 per depositor per bank. The RM250,000 limit includes both the principal amount of a deposit and the interest/return. Islamic and conventional deposits are eligible for a separate coverage limit of RM250,000.