Dukhan Bank Thara’a Islamic Account - Terms and Conditions

In order to avail Dukhan Bank (the Bank) Thara’a Islamic Account, prospective customers must open an account, if they don’t already maintain one:

The expected profit rate will be up to 0.15% per annum to be distributed on Dukhan Bank Accounts. The actual distributed profit rate will be published on bank’s website.

Deposits 

1. The Bank shall open an account for the depositor for which an account number will be designated and ATM cards issued. 
2. Deposit of funds will take place by visiting any of the Bank branches personally. Cheques may be sent by mail or deposited through the Automated Teller Machine (ATM) or through authorized collection agents of the bank for depositing the amounts thereof in the account.
3. In case of non-cash deposit such as cheques, commercial instruments and other Banking and/or negotiable instruments, the Bank will be deemed as a mere collector of such cheques or papers, the depositors should be the payee or beneficiary therein. 
4. In the two cases mentioned in clauses 2 and 3 above, the credit balance shown in the account shall not be considered final except after clearance and the receipt by the Bank of the amounts of these cheques or papers and in case of non-collection of the amounts credited, a reverse entry may be made in the account to show the actual balance. 
5. The account number should be indicated in the deposit and withdrawal forms and in case the account number is not shown the Bank will not process the depositor’s request shall not assume any responsibility in this request. 

Withdrawals 

1. Withdrawals will be allowed through ATM Cards or by visiting the branch personally or through E-Channels (internet banking, mobile banking etc.) and will be affected by verifying the credentials electronically or by authorized representatives by verifying the signatures with the specimen available at the Bank. 
2. Any amount paid by the Bank to the user of the ATM card or who’s signature appears on the Bank’s withdrawal form will be considered as a valid and proper withdrawal. In case of loss of the ATM card, the depositor should immediately notify the Bank in writing to this effect. In such event the Bank will take necessary action for suspending the use of the lost card and at the card holder’s expense will issue a new replacement card.

 Inclusion in prize draws 

1. For Monthly Prizes: By keeping a minimum balance of QAR 10,000 per month, every QAR 1,000/- will give the depositors one chance in the monthly draws. Customers entering in the middle of the month will be eligible from next calendar month. 
2. For the One Million Prizes: By keeping a minimum balance of QAR 10,000 per month for a consecutive period of 4 months, every QAR 1,000/- will give the depositor once chance in the Million draw. If the minimum balance goes down in all or any single month of 4 months period the customer will not earn any chance.
3. Prize draws on this Dukhan Bank Islamic Account will take place accordingly to the prize schedule and are subject to eligibility requirements as announced by the Bank from time to time. The Bank reserves the right to change these terms and conditions, the frequency of draws (including eligibility criteria) prizes and the prize structure at its absolute discretion any time with a 1 month prior notice to customers through any means of communication as decided appropriate by the Bank. 
4. All the prizes will only be credited to the customer’s account maintained with the Bank 
5. In case the Monthly winners leave the country before the completion of the full tenor of the prize payment, the Bank will continue to credit the account if maintained with the Bank. The Bank will not incur any additional cost of repatriating the money. 

Exclusion in prize draws 

1. If the monthly minimum balance goes below QAR 10,000 then the customer will not be counted in the draw for that month. For every after 4th Month draws the minimum balance in each month for 4 consecutive months should not go lower than QAR 10,000. 
2. If the number of withdrawal transactions exceeds more than 1 time in a month then the customer will be excluded from the monthly draw and if the number of withdrawals exceeds more than 4 times in a 4 months period (taken for every after-4th Month draw) then the customer will be excluded from the One Million Draw. 
3. The customer should not be a defaulter of the Bank for any of the credit facilities if obtained from the Bank and should not be in the blacklisted database and/or not have any criminal offence as per the laws of Qatar. 

Miscellaneous 

1. The Bank reserves the right to use winners name and photographs in all current/future promotional, advertising campaigns and/or marketing material. 
2. In the unfortunate event of the death of the winner post announcement of the results the amount will be credited in the customer’s legal heir as (appointed by the court) maintained with the Bank. 
3. All accounts of Staff and Directors of the Bank and its subsidiaries/affiliate Banks and their immediate family members (parents, spouse and children) will be excluded from the prize draws it shall be the responsibility of such staff member to notify the Bank if any of their immediate family member as specified above wins any prize draw. In the event any Director /Staff representing Dukhan Bank entity/group, or his/her immediate family member wins the prize draw. The Bank reserves the right to deny the prize money or claim refund of any prize paid (without prejudice) and conducts another draw to determine the eligible winner. 
4. All eligible customers of Dukhan Bank are allowed to participate in this Islamic account prize scheme. There will not be any monthly draws during the Million draws. The maximum number of chances per customer is 10,000 only. 
5. All prizes are available to all eligible customers of the Bank participating in the scheme. 
6. All draws shall be held under the supervision of representatives of the Bank’s, Shari’a compliance and the relevant govt. representative (Ministry of Commerce). The result of the draw is final. 
7. These terms and conditions shall be governed by and construed in accordance with the Laws of the State of Qatar provided non-contradiction to the rules and principles of Islamic Shari’a and customer hereby submits to non-exclusive jurisdiction of the Qatari courts. 
8. These terms and conditions are subject to Bank’s general account opening terms and conditions. In case of conflict between the Bank’s general account opening terms and conditions and these terms and conditions, the Bank’s general account opening terms and conditions shall apply. 
9. Fees and Charges: The customer agrees, accepts and authorizes the Bank to debit his account of all fees, charges and expenses arising from his account with the Bank, if the customer does not accept the increase or new charge, he/she has the option of terminating the relationship within 15 days of application of the charge. If the customer does not terminate the relationship within this time, it will be deemed as accepted. 
10. The Bank as a Mudarib according to the absolute Mudaraba provisions will invest the funds of the accounts on the basis of the minimum monthly balance available in the account. Funds of the account shall be invested according to unrestricted Mudaraba basis in the joint investing pool between depositors and the shareholders. The Bank shall invest a percentage of the balances in accordance with its standard practice and the net profits from the joint investment pool shall be distributed between the depositors and shareholders according to the irrespective shares in the investment. The Bank as Mudarib shall be entitled to a percentage of the realized net profit. As agreed, Mudarib shall bear any loss attributable to negligence or violation of Mudaraba terms. The percentages mentioned above are available upon request. 
11. The investment period is one calendar month commencing from the 1st day of the month with auto renewal unless the whole or part of the balance is drawn whenever the Customer desires, and in this case they shall be subject to the profits for the period prior to the withdrawal date. For accounts closed during the month, calculation shall be done on the day prior to the day of closure basis. Profits of the saving account shall be credited to the same account as per the Bank’s declared frequency, unless the Customer requests otherwise, and the Customer authorizes the Bank to invest the realized profits following the credit date with the same investment terms and conditions of the savings account. The minimum balance required to participate in the pool is QAR 3,000. 
12. Any winner of Millionaire draw will be out of the draws for all million draws for 2 years and for monthly prizes for the year in which he has won the prize.
13. Maximum number of monthly prizes won by any customer will not exceed 1 time the maximum monthly prize. Any customer who has won monthly prizes once will be excluded from the subsequent monthly draws during that calendar year. 

Information of the Customer 

1. The customer hereby undertakes to provide the Bank all information, explanation and relevant supporting documents related to opening an account when requested to do so. 
2. The customer should notify the Bank upon any change in any customer information provided to the Bank. 
3. The customer undertakes to provide to the Bank with updated copies of his/her identification documents should they expire or there be a change.

General Conditions 

The Bank shall have the right, without giving a prior notice to seize and to set off account balances against any accrued obligation on the account in favor of the Bank under any other account or for any reason whatsoever and whether the obligations of the account holder towards the Bank are present or future. The account holder hereby waives any right whatsoever to dispute the validity of the Bank’s records, provided that this shall not be construed as any approval or obligation by the Bank to grant any credit facilities of whatever kind.