Last Updated on 12 April 2026
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Sharjah Islamic Bank Hassalati Account
Hassalati Account
Features
- This is an Islamic account by nature.
- This account is specially made for the investment in your child’s future.
- Designed exclusively for children from birth to 18 years
- Sharia-compliant savings account based on Islamic banking principles Earns profit on account balance
- Minimum opening balance of AED 500
- Account operated by parent or legal guardian
- Free standing instruction facility for regular deposits
- SMS alerts for transactions
- Free e-statements every six months
- Access through Online banking, Mobile banking app, ATMs across UAE
- Eligible for monthly prize draws and rewards
- Supports digital payments such as Apple Pay and Samsung Wallet
- Safe and secure platform for long-term savings
- There is no monthly fees on this account.
- This account can be opened AED and USD.
- You require a minimum balance of AED 500 to avail this account.
- You will be availed with profit on this account.
Required Documents
- Child’s documents required are Original passport, Emirates ID (if available) & Birth certificate
- Parent / Legal Guardian documents are Original passport, Emirates ID & Valid UAE residence visa (for expatriates)
- Additional requirements are Completed account opening application form, Proof of guardianship (if applicable) & Any extra documents requested by the bank for compliance
Main Benefits
- Encourages saving habits from a young age
- Helps children understand money management
- Provides profit earnings on savings
- Affordable with low minimum balance requirement
- Parents can automate monthly savings easily
- Opportunity to win attractive prizes through raffles
- Offers modern banking convenience for guardians
- Builds a financial foundation for future education and goals
- Fully Sharia-compliant and ethically structured
- Secure way to grow funds for Education, Future investments & Personal development
Frequently Asked Questions
Q. Who can open a Hassalati Account?
A. Children from birth up to 18 years old can have this account, which must be opened and operated by a parent or legal guardian.
Q. What is the minimum balance required?
A. The minimum balance required to open and maintain the account is AED 500.
Q. Does the account earn profit?
A. Yes, the account earns Sharia-compliant profit on the available balance.
Q. How can parents or guardians deposit money?
A. Deposits can be made through cash, bank transfers, or standing instructions from the parent’s account.
Q. Can withdrawals be made from the account?
A. Yes, withdrawals can be made by the guardian as per bank rules and regulations.
Q. Is a debit card issued for this account?
A. Debit card availability depends on the bank’s policy and the child’s age eligibility.
Q. How often is profit credited?
A. Profit is calculated and credited periodically according to the bank’s policy.
Q. Are there any maintenance charges?
A. No maintenance charges apply as long as the minimum balance is maintained.
Q. What happens when the child turns 18?
A. The account will be converted into a regular savings account as per bank procedures.
Q. Is the Hassalati Account Sharia-compliant?
A. Yes, the account fully follows Islamic banking principles.
Q. Can the account participate in prize draws?
A. Yes, eligible accounts may participate in monthly raffle draws and promotions.
Q. Is online and mobile banking available?
A. Yes, parents and guardians can manage the account using digital banking platforms.
Sharjah Islamic
Established in 1975 through an Amiri decree, the bank was initially known as the National Bank of Sharjah. In 2002, the bank was the first bank to convert to Islamic Banking and was renamed as Sharjah Islamic Bank (SIB). SIB has a Vision 'to be the bank of choice, delivering creative customer solutions based on Islamic principles of partnership, trust & equality for all’. The values followed by them are :
- Bonding and Harmony
- Compliance
- Learning and Self Development
- Social Responsibility
- Creativity and Innovation
Get in touch with Sharjah Islamic Bank Customer Care