GAB Express GAB Net

Hajj Account

Start fulfilling your pilgrimage here!

Hajj Account

Hajj is an important pillar of Islam for you as a believer. You are encouraged to perform it at least once in your lifetime. Let us help you realize your lifetime purpose through our Hajj savings account! It is based on the Mudharaba Agreement.

The Hajj Account operates on a Mudarabah investment, meaning the customer provides funds, while the Bank invests them. Profits earned are shared between the customer and the Bank according to determined ratios, which the Bank publishes periodically, on their website.

Benefits

  • Free monthly statements
  • Free account to account transfers within all Gulf African Bank accounts.

Features

  • No ledger fees
  • Free incoming standing orders
  • No monthly service charges
  • No Debit Card
  • Account available in Kshs and USD
  • The Mudarabah tenure for the Hajj Account is three (3) months.
  • The customer shall be entitled to profit allocation only if the following 2 conditions are met during the entire Mudarabah tenure:
    • The customer maintains the required minimum balance of KES. 10,000 throughout the three month Mudarabah tenure.
    • Withdrawals from the account are limited to a maximum of one (1) during the tenure.
  • If either of the above conditions is not fulfilled, the customer shall not be eligible for profit allocation for that specific Mudarabah period.

 

Requirements

  • Minimum opening and operating balance of Kshs. 1,000
  • Copy of National ID/Passport
  • 1 passport size photograph
  • KRA PIN

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