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.

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 at the product in Profit sharing functionality (please check Profit Sharing process in Configuration section).