Last Updated on 12 February 2026
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Dubai Islamic Bank Monthly Payment Wakala Deposit
Monthly Payment Wakala Deposit
Features
- Monthly expected profit payments credited directly to your account
- Wide range of flexible tenures from short to long term
- Sharia-compliant Wakala investment structure
- Option to reinvest the principal at maturity
- No maintenance or service charges
- Simple and convenient account opening process
- You do not get a dedicated relationship manager for this account
- Non maintenance fee that has to be paid monthly is AED 0
- You can not open this account in other major currencies
- Required to maintain a minimum monthly balance of AED 25,000
Required Documents
- To open a Monthly Profit Payment Wakala Deposit, customers are generally required to provide:
- Valid Emirates ID
- Passport copy (for non-UAE nationals)
- Valid UAE residency visa
- Proof of address
- Source of income or funds documentation
- Additional documents may be requested based on individual customer profiles and regulatory requirements.
Main Benefits
- The Monthly Profit Payment Wakala Deposit is designed to provide stability, flexibility, and consistent returns while remaining fully Sharia-compliant.
- Customers receive expected profit payments every month, making this deposit ideal for those who rely on steady cash flow to meet recurring expenses or supplement income.
- Based on the Wakala model, funds are invested in Sharia-approved assets, ensuring compliance with Islamic banking principles and ethical financial practices.
- The principal amount remains invested for the selected tenure, while expected profits are distributed monthly, allowing customers to benefit from income without frequent withdrawals.
- A wide range of short- to long-term tenures allows customers to align their investment with personal financial goals, whether for short-term planning or long-term savings.
- Expected profit rates are communicated upfront, providing clarity on anticipated returns and helping customers plan their finances with confidence.
- The deposit carries no ongoing maintenance fees, ensuring that returns are not reduced by recurring costs.
- The deposit can be opened and managed through digital banking channels or at a branch, offering convenience and ease of access.
- The Monthly Profit Payment Wakala Deposit from Dubai Islamic Bank offers tenures from 3 to 60 months, with expected profit rates ranging between 3.25% and 3.50% per annum, depending on the selected tenure. Expected profits are indicative and based on historical performance; actual returns may vary.
Frequently Asked Questions
Q. What is a Monthly Profit Payment Wakala Deposit?
A. It is a Sharia-compliant investment deposit where the bank acts as an agent to invest your funds and distributes the expected profit to you on a monthly basis.
Q. How often will I receive profit payments?
A. Expected profits are credited to your account every month for the duration of the selected tenure.
Q. Are the profit rates guaranteed?
A. No. The profit rates are expected and based on historical performance. Actual profits may be higher or lower depending on the performance of the underlying investments.
Q. Can I withdraw my funds before maturity?
A. Early withdrawal is subject to bank policy and may result in reduced or no profit payment. The principal amount returned may also be adjusted as per applicable terms.
Q. What happens at maturity?
A. Upon maturity, customers can choose to receive the principal amount back or reinvest it for a new tenure at the prevailing expected profit rate.
Q. Is there a minimum deposit amount?
A. Minimum deposit starts from AED 25,000. The minimum investment requirement may vary depending on the selected tenure and customer category. Terms and conditions apply.
Q. Who can open a Monthly Profit Payment Wakala Deposit?
A. The deposit is available to eligible individual customers who meet the bank’s account and regulatory requirements.
Q. How is the profit calculated?
A. Profit is calculated based on the expected profit rate and the deposit amount for the selected tenure and credited monthly.
Dubai Islamic
Dubai Islamic Bank (DIB), established in 1975 is the pioneer of Islamic banking that has seen a phenomenal growth. The Bank since inception has remained customer-centric organization, where honesty and customized personal service form the basis of all relationships. Though sticking to its root traditions, the bank equally blends with the commitment of innovation, flexibility, and modernity. Every customer of the bank is provided with comprehensive solutions for any financial need.
The bank works with the vision of providing unsurpassed customer service and becoming the world’s largest Islamic banking corporation.
Get in touch with Dubai Islamic Bank Customer Care