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Term deposits

Term deposits

They are sums that are held and booked for an agreed period of time, such as being months or a year, and profits are given twice a year, i.e. if the deposit ends, you must wait until the date of distribution of the profits if they are achieved.

It includes the principal of the deposit and profit, where the bank does not guarantee the original and is not subject to a specific rate, but rather
The role of the bank as an agent of the depositor in the face of users having money includes two types of agency:

1- An agency that has a mandate from the depositor to invest deposits in any project.
2- An agency in which the applicant is restricted by investing deposits in specific projects (earmarked deposits).

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