Manama, the Kingdom of Bahrain: Khaleeji Bank, one of the leading Islamic Banks in the Kingdom of Bahrain, has recently announced its participation in the 13th edition of Youth City 2030, held under the esteemed patronage of His Highness Shaikh Nasser bin Hamad Al Khalifa, His Majesty the King’s Representative for Humanitarian Affairs and Youth Affairs, and Chairman of the Supreme Council for Youth and Sports. The event took place at the Exhibition World Bahrain.
This event served as the perfect platform for Khaleeji to engage with young individuals and introduce its latest innovative savings solution: The “Ajyal” Account. Tailored specifically for minors under the age of 21, the account aims to cultivate good financial habits and enhance the culture of saving and financial literacy among the youth, in an initiative that reflects the bank’s commitment to fostering the next generation’s financial well-being by enabling them to access essential financial tools.
The “Ajyal” Account comprises two distinct options: The “Ajyal Saving Account” and the “Ajyal Deposit Account”. The “Ajyal Saving Account” encourages regular deposits and offers a competitive Expected Profit Rate of up to 3.025% depending on their deposit and expenditure behaviour. This rate is achievable by young clients through a unique incentive structure where, with every monthly deposit of BD 10 or more and up to five ATM withdrawals monthly, clients could maximise their profit potential.
Conversely, the “Ajyal Deposit Account” is based on the principles of Absolute Mudharaba and provides a tenure of 12 months with an Expected Profit Rate of up to 5%, starting from a minimum deposit of BD 100. Parents of minors under 15 years can open accounts on their children’s behalf, while young individuals aged 16 to 21 could independently establish their accounts through the “Khaleeji App”, at Khaleeji’s booth during the event, or at any of the bank’s branches.
Attendees young and old at Youth City 2030 were encouraged to visit Khaleeji’s booth to learn more about the features and benefits of the “Ajyal” Account. This initiative aligns with the bank’s commitment to nurturing financial literacy and empowering young individuals through secure and advantageous financial products.
On this occasion, Ms. Ameera Ahmed Al Abbasi, Head of Retail Banking at Khaleeji Bank, commented “We are delighted to participate in the Youth City 2030 event, as this step supports the efforts made by the Ministry of Youth Affairs and the relevant authorities by contributing to the achievement of their goals of empowering the youth, discovering their talents, enabling them to excel, and making them the first choice in the labour market.”
She added “This activity provides an opportunity to introduce the ‘Ajyal’ Account to the attendees, reflecting our solid commitment to our young clients, where this product contributes to fostering financial literacy and empowering them to adopt sound financial practices from an early age. At Khaleeji, we are committed to continuously developing products that align with the ambitions and aspirations of our clients. We are constantly working to provide them with the necessary tools to conduct financial and investment transactions with ease and security. And with features like the competitive Expected Profit Rate and flexible deposit options, we aim to provide innovative solutions that align with Islamic Shari’a Principles, while meeting the diverse financial needs of our youth today.”
Khaleeji is a leading Islamic Bank that strives to achieve clients’ ambitions through an Islamic Banking model that offers a comprehensive range of high quality Shari’a-complaint banking services and investment opportunities to individuals and companies.
Visit Khaleeji Bank’s website at www.khaleeji.bank and follow the bank’s verified social media accounts on Instagram, Facebook, LinkedIn, YouTube, and X platforms to stay updated on the latest news and offers.
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