Sharjah Islamic Bank launches flexible long term Deposit

Within the framework of its ambitious vision to enhance its financial and banking services, Sharjah Islamic Bank (SIB) announced the launch of Flexi Deposit, a flexible long term deposit.

The innovative product provides individual customers with a set of exclusive features that include the option to save in UAE dirhams or US dollars, fixed attractive returns of up to 5.25 per cent annually for a period ranging between two and three years, and financing facilities for holders of long-term flexible deposits up to 70 per cent against the deposit account.

The new launch also allows greater flexibility in providing customers with the option to specify designated periods for receiving profits. Additionally, it offers the beneficial chance to withdraw the complete deposit prior to the specified duration concluding.

Nabil Abou Alwan, Head of Retail Banking at Sharjah Islamic Bank, expressed his enthusiasm with the release of the SIB’s first product of 2023, designed with the aim of enhancing the bank’s vision of providing unique banking products based on deposits and accounts, strengthening its brand and increasing market shares. Nabil Abou Alwan stressed the bank’s eagerness to continue offering convenient options for deposit account customers of all types, including fixed deposit account, MAXPLUS fixed deposit account, the flexible long-term deposit account Flexi, and exciting new products to be launched in the future, to continue achieving record profits for customers, enhancing savings and awarding exclusive benefits along with highly flexible facilities.