These accounts will be available on myPDA (my Pakistan Digital Account), refer to below link:
With the rapid growth in adoption of Digital banking channels and due to the pandemic, Allied Aitebar Islamic Banking has introduced various Digital Accounts in order to provide Shariah compliant solution for Resident Pakistanis. Allied Aitebar Islamic Banking has developed these accounts by following SBP guidelines of “Customers Digital Onboarding Framework”.
These accounts will be available on myPDA (my Pakistan Digital Account), refer to below link:
Sr. No. | Description | Allied Islamic Asaan Digital Account | Allied Aitebar Asaan Digital Remittance Account | Allied Aitebar Freelancer Digital Account |
1. | Eligibility Criteria | – Only natural persons
– Resident Pakistani Individuals |
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2. | Nature of Account | Current | Remunerative Current | Current |
3. | Islamic Mode of Contract | Qard | Mudharabah | Qard |
4. | Currency | PKR | PKR | PKR & USD |
5. | Profit calculation & payment frequency | Not applicable | Profit calculated on Monthly average balance and paid Semi-annually | Not applicable |
6. | Balance requirement | No Minimum balance requirement | ||
7. | Debit/credit limits | – Maximum credit balance limit of PKR 1,000,000;
– Monthly debit limit of PKR 1,000,000; |
– Maximum credit balance limit of PKR 3,000,000
– Fund transfer limit of PKR 500,000 per day – The account may also be fed through local credit to the extent of PKR 1,000,000 per month – No commercial remittances shall be allowed. |
– Monthly limit of USD 5,000 or equivalent (debit & credit limits shall be applied separately |
5. | Cash withdrawal Limits | Up to available Balance | Cash withdrawal limit of PKR 500,000 per day | Cash withdrawal limit of PKR 500,000/- or equivalent per day |