The first step to Makkah…

O Allah, make every muslim / muslima join this project and become a Hajji. Ameen

Concept

Hajj, one of the five pillars of Islam, is compulsory for all Muslims once in a lifetime if they have the financial means. No single event in the life of a Muslim is more spiritually uplifting and rewarding than to embark on the journey of Hajj. It is the desire of everyone to accomplish this duty and thus, is inspired to save to accomplish it. The Hajj Savings Account (HSA) gives you an opportunity to save and prepare for Hajj and turns your pilgrimage dream into a reality.

How does it work?

The HSA is an ideal savings account for you if you are an individual saver and wish to save for your spouse, children and parents for the purpose of performing the Holy Pilgrimage. You can take advantage of this special Mudarabah based Savings account (available in various tenure periods) for Umrah & Hajj where you will also be entitled for profits on the deposited amount based on a pre-agreed profit sharing ratio.

On agreeing to become a HSA holder, you will enter into the contract of Mudarabah with Al Barakah. Under this relationship, you will be the Investor (Rab-ul- Maal) and Al Barakah will be the Manager (or Mudarib) of the funds deposited by you in the deposit pool. These funds will be utilized and invested in an ethical and responsible manner only in Shari’ah approved business activities.

Key Features

• An ideal savings plan for you and your family for Hajj or Umrah
• A Mudarabah-based account with attractive halal returns through a profit distribution ratio
• Account can be opened with as little as Rs. 3,000.00
• Available for different tenures and enable prospective Hajjis plan their tentative date for Hajj
• No withdrawals before six months from the date of opening of the HSA
• Funds invested in Shari’ah-compliant business activities
• No service charges

Eligibility

• Initial deposit of Rs. 3000.00 to open the HSA
• Additional savings on a monthly basis or at any time of a multiple of Rs. 500.00

Apart from regular monthly deposit contributions, if you wish to make the desired journey earlier than initially scheduled, you can deposit additional amounts in order to complete the savings amount. After completion of the desired deposit amount, you have the right to redeem your funds to go for Hajj or Umrah.

Can I withdraw my money?

In general, withdrawal is not encouraged and is subject to the terms and conditions of the Agreement. However, in case of dire necessity and emergency, withdrawals can be made on a case-to-case basis.

Who can apply?

The HSA is designed for all those intent on saving for the pilgrimage of Hajj. Both members of Al Barakah & non-members can join.

How can I apply?

• Visit our Head Office or contact and discuss the Hajj Savings Account with one of our Regional Representatives.
• Complete our Hajj Savings Account application form and submit the required documents.

What are the documents required?

• Copy of ID Card / Passport
• Copy of Birth certificate
• Utility bill (not older than 3 months)
• Copy of Marriage / Nikah Certificate
• Copy of ID Card / Passport and Birth Certificate of Beneficiary/(ies)
• Bank Statement (if applicable)

For Minors (individuals below the age of 18): Copy of Birth Certificate; Copy of ID Card of guardian / parents; and Utility bill of guardian / parents (not older than 3 months)

* Al Barakah MCSL reserves the right to request further documentation, if required.