Islamic Deposit Account
The Islamic Deposit Account (IDA) functions with respect to Islamic tenets that is, it does not generate interest and no agio is charged. It works with a passbook.
It is a product specific to Afriland Frist Bank. It was set up with the aim to familiarise people from muslim confession to banking products and give pilgrims the opportunity to save money to prepare for their Mecca pilgrimage. It stems from the precepts of the Islamic religion and is interst and commission free.
Account opening requirements