A Wakala Deposit works like an Islamic bank account and is essential for managing your personal finances while living in Dubai and Al Hilal Bank is one of the best banks that can serve you very well if you open such an account with them.
The Islamic bank industry has expanded rapidly over the last decade, growing at the rate of 15%.
If you don’t want to create an account at Al Hilal Bank check out the List of Banks in Dubai and their classifications.
If you love banking from the convenience of your home then you should see how you can register for internet banking.
Numerous foreign and local banks have entered the Shariah-compliant financial sector by creating Islamic divisions and wings inside their current banking systems as a result of the expanding advantages of Islamic banking.
If you want details on How to Open an Al Hilal Bank Account Online and to know more about their accounts check out the Types of accounts offered by Al Hilal Bank.
Maybe you’re moving to Dubai to work or study, opening a Dubai business, or are a regular visitor who needs ways to hold, receive, send, and spend dollars easily. Opening an Islamic bank account in Dubai should be pretty easy as long as you have all the right documents to hand.
If you using an Android device it is best you check out the How to download and register for Al Hilal Bank mobile banking app on Android but if you are using an iPhone you can check out How to download and register for Al Hilal Bank mobile banking app on iPhone.
This guide walks through everything you normally need to open a Wakala deposit bank account at Al Hilal Bank.
To see all the bank’s branches go to this page Al Hilal Bank Branches or you can just check out Credit Cards offered by Al Hilal Bank.
Requirements to Open a Wakala Deposit Bank Account at Al Hilal Bank
To open an Islamic bank account you need to have these documents at hand.
- Passport (for non-residents) or Emirates ID (for residents)
- A deposit of AED 5,000
- You must be over 18 years old
Now that you have seen the documents that are required to open a bank account, we should look at the process involved in creating the Wakala Deposit Account.
To open a savings account click here, but if it is a current account check out, readers who want to create a Wakala account should click here instead.
4 steps to Open a Wakala Deposit Bank Account at Al Hilal Bank
- Step 1: You must first research and compare the different Islamic accounts to find one that offers the services and benefits you need.
- Step 2: You can either visit the bank branch or apply online. To apply online check out
- Step 3: Assemble and compile the necessary paperwork mentioned above. Confirm that you include all of your names, including your middle and last names, precisely as they appear on your documents.
- Step 4: Following the processing and approval of your application, you will receive a notification with the information of your new account. You will be able to send money after your bank account has been verified. Additionally, a debit card for cash withdrawals will be provided. Furthermore, you will be able to register for online and phone banking.
If you have any questions, then use the information on this page Al Hilal Bank Contact Details to contact the bank.