In line its commitment to develop innovative and modern banking solutions, Al Yusr Islamic Banking Service of IBQ, today announced the launch of Al Yusr Islamic banking Young Saver Account aimed at young people and children under the age of 18. The new savings account is the latest banking solution from the Islamic branch of IBQ and is designed to encourage parents and youngsters to embark on a future savings plan, and to add considerable know-how to their financial literacy.
Fully Sharia compliant and working under the Mudaraba principle, the Al Yusr Islamic banking Young Saver Account features a range of attractive benefits and features including an opening balance of QAR 100, quarterly revenues, an annual birthday gift, and a regular savings option through free standing orders.
Hassan Al Mulla, Head of Islamic Banking said: "The Al Yusr Islamic banking Young Saver Account reaches a new target audience whose financial knowledge and well being tops the chart of our priorities. This product follows the strong release of a series of superior Islamic banking solutions by Al Yusr Islamic Banking service and is a new innovative, added-value addition to our portfolio that provides quality personal service and value to our customers.”
Al Mulla added, ““We are highly pleased to be announcing yet another marketplace innovation in such a short time since our launch. The Al Yusr Islamic banking Young Saver Account is a Sharia compliant, profitable and easily accessibly product for both parents and children. It is truly a promising step towards a child's future."
The Al Yusr Islamic banking Young Saver Account is supported through a full retail banking platform including two dedicated Al Yusr Islamic Banking branches located near the C-Ring Road and Al Rayyan area in Doha, a 24 Hour Call Centre, internet banking, and SMS banking service.