Page 6 - Agib Bank Ltd Annual Report and IFRS Financial statements 2020

PRODUCTS AND SERVICES

ACCOUNTS

SAVINGS ACCOUNT

AGIB Savings account has no limit of withdrawal and we ensure that your money is kept safe, secured and
accessible. The minimum opening balance is D300

HAJJ SAVINGS ACCOUNT

This is strictly a savings for intending pilgrims and no withdrawal till the end. It is available to individuals,
groups, and organizations.

CURRENT ACCOUNT

This account facilitates the Management and operations of all financial transactions for individuals,
companies and organizations.

BENEFITS

• Use of Cheque book
• Access to facility
• Access to Salary Card & Salary Advance in the case of Individual Salary customers
• For Sole proprietors and Corporate account customer,
• Access to facilities.

INVESTMENT ACCOUNT

This like the fixed deposit account is an account whereby a fixed sum of money is kept with the bank for a
certain period of time ranging from 3 months to 12 months with a minimum deposit of D50,000 and Profits
are shared in accordance with Islamic Sharia law as per the agreement signed between the two parties.

AGIB ORR ACCOUNT

This is a premium investment account that seeks to mobilize long tenured deposits for investment in
productive ventures. Minimum deposit is 1 Million.

It is a Profit Sharing Investment based on the Mudarabah principle with the Bank as (Fund Manager)
Mudarib, who would invest the funds.

BENEFITS

• Enjoy free facility of up to 10% of principal per quarter with no Mark Up
• 60% Share of distributable profits

Annual Report and IFRS Financial Statements for the year ended 31 December 2020 5