Flexi Certificate of Deposit & Flexi Certificate of Deposit Premium

QIB Flexi Certificate of Deposit and Flexi Certificate of Deposit Premium are fully digital investment Mudaraba products that will enable you to grow your money with the flexibility of partial redemption.

 Flexi Certificate of Deposits (Flexi CD) – Terms & Conditions:

  1.  Flexi CDs are none tradable and none transferrable; they are cashable at QIB counters and only payable to Flexi CD owner.
  2. You can open a Flexi CD with 2 minimum subscription amounts as follow
  • Minimum balance required to open a Flexi Certificate of Deposit Premium is QAR 500,000 or USD
  • 125,000 + multiples of QAR 20,000 or USD 5,000
  • Minimum balance required to open the Flexi Certificate Of Deposit is QAR 100,000 or USD 25,000

and the maximum amount is QR 480,000 or USD 120,000 + multiples of QAR 20,000 or USD 5,000

  1. Flexi CD duration is for 1, 2 and 3 years.
  2. Flexi CD’s are invested in abidance with Islamic Shari’a regulations and the bank will act as the Mudareb to invest on behalf of the owner (Rab al Mal) as per Mudaraba contract, and the fund will be placed in the general deposit pool of the Bank. Share of the Mudareb (QIB) will be 95% and share of Rab Al Mal (Flexi CD owner) will be 5% as per Mudaraba terms. And if the return of the Mudaraba achieved the expected profit rate (EPR) the remainder will be as an incentive to QIB.
  3. In case of redemption, or finance against the pledge of the Flexi CD, original Flexi CD or replacement (in case of loss) has to be presented.
  4. Each party is entitled to the share of the profits. The Mudareb may donate part of his share to Flexi CD owner (Rab Al Mal) in case the share of the Flexi CD owner (Rab Al Mal) is lower than the expected profits.
  5. Expected Profit is credited to client’s account after quarter ends.
  6. Financing facilities against this Flexi CD up to (95%) of its nominal value possible at a rate not less than (1.5%) over applicable Flexi CD profit rate.
  7. Financing tenor against the Flexi CD’s shall not exceed the tenor of the Flexi CD’s.
  8. Flexi CD’s profit or redeemed value will be paid during bank’s working days. If maturity date falls on a vacation date, payment will be executed the next working day.
  9. Early Exit from Flexi Certificate of Deposit:
  • Partial redemption will be allowed a maximum of 2 times for the full tenor of the Flexi CD
  • The total value of both partial redemptions cannot exceed 50% of the original Flexi CD value
  • No penalty charges for partial redemptions
  • Quarter end profit payment will be calculated on the Average balance of the deposits
  • In case of total redemption, at any time, the current terms and penalty clause will be applicable on the principle investment amount
  1. Early Exit from Flexi Certificate of Deposit:
  • In case any client wishes to early exit his/her Flexi CDs prior its maturity, and conditioned 6 months has elapsed, the original EPR on the Flexi CDs will not be applied but rather the profits will be based on the period that the client kept his/her money with QIB, and the profit rate will be the profit rate applied for the subject period at the time of breakage of Flexi CD, accordingly QIB will break the Flexi CD and the outcome of the early exit will be the Flexi CD notional amount plus the actual profit rate that was achieved till the period of breakage minus a 0.10% of notional redemption fee.
  • In case of early exit from Flexi CD before 6 months period, the outcome of the early exit from Flexi CD will be the Flexi CD notional amount minus 0.10% of notional amount as redemption fee.
  1. In case of redemption before Flexi CD’s maturity date, the month on which the redemption takes place will not be calculated.
  2. In the absence of client’s instructions for renewal, the proceeds shall be credited to his/her account at the final maturity date of the Flexi CD.
  3. The bank has the right to close the subscription in the Flexi CD’s once the objective is reached and as per the bank’s discretion.


  1. The bank may in future issue Flexi CD’s under different denominations and conditions as per the bank’s discretion.
  2. Flexi Certificate of Deposit issuance and Profits calculation shall be after five working days from date of investing in the Flexi Certificate of Deposit.
  3. QIB (Mudareb) shall not bear any loss which may arise unintentionally or violation or default. The same shall be solely borne by the customer (capital owner) in case it took place (God forbid that).
  4. QIB may put aside the deposits transferred to the customer’s accounts in case of suspicions inclusive of money laundry, financing terrorism or terrorist organizations.
  5. In case of any dispute arising between the two parties (God forbid that) relating to execution or interpretation hereof, the same shall be settled amicably. But in case of impossibility of that, the matter shall be referred to the competent courts in the State of Qatar to decide on it.


I, the undersigned, confirm having read the terms & conditions in this agreement, and confirm authenticity of my personal details given.

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