Islamic Savings Account In UAE
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I open Islamic saving account in UAE. They its sharia compliant, based on profit/loss sharing, however, there is always a profit historically but at different rates may be. Its not fixed deposit, I can withdraw money any time and any amount.
Attached document defines the account mechanism. Please review the attached.
They usually pay 1.70% per annum (historically).
Based on above facts, is this Ribba?
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