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Creating Deposit Accounts With Profit Sharing

Accounts with profit-sharing capabilities are created in the same way as interest-based accounts. For more information on creating an account, refer to Creating a Deposit Account.

Customer accounts are linked to Shari'ah-based products at creation, after which they will be visible in the list of accounts associated with the product. A product can have any number of linked accounts.

To view the accounts linked to a product, in the Products section of Profit Sharing, click Actions > View accounts.

view accounts

Common parameters​

The fields available in a Shari'ah-based account are restricted compared to an interest-based account. Users can enter the following fields, depending on the product type:

  • Product association
  • ID
  • Name
  • Maximum Withdrawal Amount
  • Recommended Deposit Amount
  • Whether the account permits technical overdrafts
  • Account Notes
  • Deposit account custom fields

Shari'ah attributes​

The Shari'ah attributes can be added to the product in Profit sharing functionality (please check Profit Sharing process in Configuration section).