An Iraqi Islamic bank launches a project to invest cash deposits and determines the percentage of profits
In a statement today, the bank stated that the deposit controls include the cash amount that the customer pays to invest his money for a period of no less than 6 months as a minimum to participate in the profits.
The bank stipulated that the amount of the investment financial deposit should not be less than (3000000) Iraqi dinars, or (2000) US dollars.
The statement noted that profits are not calculated if any amount is withdrawn six months before the date of deposit, and when part of the amount is withdrawn six months before, the remaining amount is considered a new deposit.
The bank also indicated that depositors receive 50 percent of the net profits of their deposits according to the contribution of each one of them and the period invested in it.
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