Account and Liquidity Management Services
Our account management solutions provide simplified account administration, transparency of cash movement, efficient monitoring and control of cash flows and reduction in back-office workload. Other solutions offered are the provision of enhanced account structures leading to streamlined reconciliation and maximised returns in surplus, or idle cash.
- Corporate Current Account: This serves as a solid foundation for processing your entire portfolio of business transactions - payments, collections and investments. This account can be used for all your operating activities.
- Corporate Savings Account: This is designed on the Mudaraba concept. It offers you the flexibility of depositing excess cash, and the comfort of accessing it instantly for unexpected requirements.
- High Yield Savings Account (HYSA): This provides an opportunity for you to earn Shari'a compliant returns - based on your average monthly deposit - when these funds are utilised in our Mudaraba pool. You can also combine this account with our Automated Sweeps to maximise your earnings.
- Automated Sweeping/Pooling: These simplify the complex requirements of your working capital by including many-to-1, 1-to-many, reverse, target balancing and covering sweeps, with provision for standing instructions.
- Mudaraba Term Deposits: These are ideal, if you wish to deposit cash for a fixed period of time - between 1 and 12 months – for profits calculated according to period.
- Corporate Deposits: At Noor Bank, we address the needs of most industry sectors with Corporate Deposits that match specific business requirements, and have a record of excellent service delivery. Our specialised team will assist you with a range of Shari’a compliant schemes that include Wakala and corporate investment accounts.