ICFAL GENERAL MEMBERSHIP ACCOUNT
General membership account is an ordinary membership account a member can open to save and earn dividends on investment in a halal way, which is in line with Islamic Sharia’s law. Any Australian resident person or persons, 18 years or older, are eligible to open a membership account. A general member can redeem her/his shares in accordance to the Share Redemption Policy. A member can transfer fund to her/his account of ICFAL from her/his account in other bank easily through online transfer or with deposit slips. ICFAL provides account statement in 4-month intervals, November-February, March-June, July-October. However, a member can request for additional statement at any point in time. Members of this fund may hold shares up to 20% of ICFAL’s equity at any time.
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- APR percentages: N/A dividend paid per $100 share.
- Transaction Fees: Nil (One-off fee of $100 for lifetime membership)
- Interest rates: No interest Islamic products.