Withholding Ratios

• You can open your profitable account with a starting limit of at least TL/USD/EUR 250.
• As long as you stay above the minimum limit, two withdrawals or withdrawals of up to half the opening balance can be made during the term.
• If at least one of these two rules is violated, Albaraka Türk shall reclaim half of the gross profit share given to the customer according to related law.
• The profit share accumulated in the interim period can be transferred to your special current account.
• The portion of real person accounts up to 150.000 TL is guaranteed by the Savings Deposit Insurance Fund (SDIF).

According to the Decision of the Council of Ministers No.(*)2012/4133, partial withdrawal can be made up to two times before the maturity date and in total up to 50% of the main investment amount in the 1 Year and Long Term Profit Sharing Payments (1 month, 3 month, 6 month) accounts. The profit can not be added to the principal, it is transferred to the customer’s current account determined by the customer while openning account. In the case of transactions realized apart from these rules, or in case of closing the account before the due date, 50% of the profit paid from the date of opening / renewing of the account is taken back due to legal requirement.

To open a participation account, you can visit the nearest Albaraka Turk Branch with the following documents.

Turkish Citizens

1. ID Card: ID card, driver's license or passport

2. Address Document: Any utility bills (telephone, electricity, water, etc.) issued in the last three months, place of residence, or any document containing address information issued by official authorities.

Foreigners with Residence Permit in Turkey

1. ID Card:Passport or Residence Permit Card

2. Foreign Identification Number

3. Address Document: Passport with address information, any utility bill issued in the last three months (telephone, electricity, natural gas, water, etc.) or any document containing address information issued by official authorities.

Foreigners Living Abroad

1. ID Card: Passport or ID document *

2. Tax Identification Number

3. Address Document: A copy of any utility bill for the last three months showing the address of the passport with the address information or the address of the country in which the person lives (This document may be delivered to our branch by fax, e-mail or mail.)

(*)a) The "European Agreement on the Travel of Persons among the Council of Europe Member States" states that the Contracting Parties shall provide the identity documents (with the entry and exit form which must be filled in at the border gates) issued by the authorities of the country of origin of the non-commercial citizens for a period of not more than three months
b) The identity card of the citizens of the Turkish Republic of Northern Cyprus (issued by the TRNC. Ministry of Interior)

NOTE: According to Article 27 of the Turkish Citizenship Law No. 5901, those who lose their Turkish citizenship are accepted as foreign nationals.

• The portion of real person accounts up to 150.000 TL is guaranteed by the Savings Deposit Insurance Fund (SDIF).
• The accounts opened in foreign branches and subsidiaries including the coastal banking zones are not included in the scope of the Savings Deposit Insurance Fund.
• At the end of the operating permit, payments for participation accounts are based on the date on which the permission is revoked and calculations are made on the liquidation balance sheet. The amount is based on the unit account value. Payments within the scope of the Savings Deposit Insurance Fund are made with Turkish Lira. At the conversion of foreign currency accounts into Turkish Lira, the Central Bank's foreign exchange buying rates on that date is applied.
• If the shares of the persons with joint private current account or participation account are known, payment shall be made according to these shares within the amount of insurance, if not certain, it can be paid without t exceeding the insurance amount for each person.

The rate initially quoted represents the profit share of the account holder of the other rate bank.