Last Updated on 02 June 2026
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Emirates Islamic Kunooz Savings Account
Kunooz Savings Account
Features
- This is an Islamic account by nature.
- Shariah-compliant savings account based on the Mudaraba principle.
- Account available in UAE Dirham (AED) only.
- Expected profit rate of 0.10% per annum.
- Profit accrued and distributed quarterly.
- Eligible for daily, weekly, and monthly cash prize draws.
- Daily cash prize of AED 1,000.
- Weekly cash prize of AED 50,000.
- Monthly grand prize of AED 1,000,000.
- Free internationally accepted debit card.
- Mobile Banking and Online Banking access.
- Available for individuals, joint account holders, and minors.
- No salary transfer requirement.
- Funds remain accessible without any lock-in period.
- There is no monthly fees on this account.
- This account can be opened only in AED.
- You need a minimum balance of AED 3000 to avail this account
- Profits gained from this account are distributed from the common mudaraba pool. Profits are accrued are quarterly basis.
Required Documents
- Valid Emirates ID.
- Passport.
- UAE Residence Visa (for expatriates).
- Completed account opening form.
- Additional KYC documents if requested by the bank.
Main Benefits
- Earn profit on your savings through the common Mudaraba pool.
- Opportunity to win cash prizes while maintaining your savings balance.
- Enjoy a monthly grand prize of AED 1 million.
- Access your account anytime through digital banking channels.
- Make purchases and cash withdrawals using the complimentary debit card.
- Benefit from Shariah-compliant banking principles.
- No monthly maintenance fee on the account.
- Suitable for personal savings, family savings, and minor accounts.
- Maintain liquidity with unrestricted access to your funds.
- Manage your account through branches, ATMs, online banking, and mobile banking.
Frequently Asked Questions
Q. What is the minimum balance required for the Kunooz Savings Account?
A. You must maintain a minimum average balance of AED 3,000.
Q. What happens if the minimum balance is not maintained?
A. A fall-below fee of AED 26.25 per month may be charged if the minimum balance requirement is not maintained.
Q. What is the profit rate offered on the Kunooz Savings Account?
A. The expected profit rate is 0.10% per annum. Profit rates are subject to change based on Mudaraba pool performance.
Q. How is profit paid on the Kunooz Savings Account?
A. Profit is accrued and distributed on a quarterly basis from the common Mudaraba pool.
Q. Can I participate in prize draws with the Kunooz Savings Account?
A. Yes. Eligible customers can participate in daily, weekly, and monthly prize draws.
Q. What prizes can I win with the Kunooz Savings Account?
A. Eligible customers may win: AED 1,000 daily cash prizes.
AED 50,000 weekly cash prizes.
AED 1,000,000 monthly grand prize.
Q. Is there a monthly maintenance fee on the Kunooz Savings Account?
A. No. There is no monthly maintenance fee
Q. Does the Kunooz Savings Account come with a debit card?
A. Yes. A free internationally accepted debit card is provided.
Q. Who can open a Kunooz Savings Account?
A. Individuals, joint account holders, and minors can open the account subject to Emirates Islamic's eligibility criteria.
Q. Is salary transfer required to open the account?
A. No. Salary transfer is not required.
Q. Can I access my account online?
A. Yes. You can access your account through Emirates Islamic Mobile Banking and Online Banking.
Q. Can I withdraw my money at any time?
A. Yes. Funds can be accessed through branches, ATMs, mobile banking, and online banking, subject to applicable terms and conditions.
Q. Is the Kunooz Savings Account Shariah-compliant?
A. Yes. The account is fully compliant with Islamic banking principles and operates under the Mudaraba structure.
Q. In which currency is the Kunooz Savings Account available?
A. The account is available only in UAE Dirham (AED)
Emirates Islamic
In order to deliver high standards of banking services, Emirates Islamic Bank was established in the year 2004. The bank is aimed to deliver services in accordance with the standards of Shariah principles. It offers a wide range of products that are designed exclusively for individuals, small businesses and large corporations.
Get in touch with Emirates Islamic Customer Care