Terms and Conditions

1. The investor can place their funds through cash, cheque, demand draft or pay order.
2. The certificates are non-negotiable and non-transferable. In case the certificates are lost, stolen or destroyed, the investor will have to inform IIBL in writing immediately. The investor may obtain duplicate certificates from IIBL against indemnity.
3. The certificates will be issued for a minimum investment of Rs. 50,000/-
4. In case the investor makes payment in the form other than cash, the certificates will be issued after the realization of the proceeds.
5. The investor will be required to fill the form provided by IIBL, submit a specimen signature card and a copy of CNIC.
6. Joint application for more than three persons will not be accepted. Each of the applicants has to sign the application form. In case of death of any one of the applicant, only the next surviving holder(s) will be recognized as having the title of the certificates.
7. All profits are expected and subject to deduction of withholding tax according to the Income Tax Ordinance 1979. However, if the investor wants exemption, an exemption certificate (duly obtained from the income tax department) will have to be provided by the investor.
8. Zakat will be deducted in accordance with the Zakat and Usher Ordinance 1980. Those investors who want exemption from the provision of the Ordinance would be required to file declaration at least one month before the evaluation date that is first of Ramadan.
9. All levies/ taxes imposed by the federal and provincial government on the deposit or the profits thereon shall be on the account of depositor and shall be deducted from the proceeds of encashment or profit payable to investor.
10. Rates are subject to change as per rules and regulations of the State Bank of Pakistan or other regulatory authorities.
11. IIBL may exercise the right to change, modify or amend the conditions set by itself at any time without prior notice.