Today United Bank Limited (UBL) converted to UBL Ameen Islamic Banking in Khyber Pakhtunkhwa and Balochistan , Now it has abolished personal loans and also debit card . Know more updates.
Personal Loans and Debit Cards: UBL Ameen Islamic Banking will no longer offer personal loans or debit cards in their accounts.
Savings Account Profit Reduction: The profit rate on savings accounts has decreased from 16% to 8%.
Shift to Islamic Banking: UBL Ameen Islamic Banking has eliminated interest-based services (riba) and is now focusing on profit-sharing and ethical financial practices.
Today in Khyber Pakhtunkhwa and Balochistan UBL converted to UBL Ameen islamic banking, UBL scraps personal loans and debit card , And from 16% profit in savings account it came to 8% profit. UBL is ending interest system,
Before this, many branches of UBL had already converted to UBL Ameen Islamic Banking. Now, as of today, all branches in Khyber Pakhtunkhwa and Balochistan have also converted to UBL Ameen Islamic Banking. UBL Bank is shifting towards becoming an Islamic bank and is completely eliminating the interest-based system from its operations.
Previously, UBL Bank used to offer personal loans, but now they have discontinued them. Along with that, the debit card system has also been shut down. The profit rate on savings accounts, which was 16% earlier, has now decreased to 8% as of today.
In Peshawar, the UBL Bank system was not working today because of this update. People could neither deposit nor withdraw money, as UBL Bank officially converted into UBL Ameen Islamic Bank today.
Earlier, the UBL Bank Board and branding were in blue color. However, all the branches that have converted to UBL Ameen Islamic Banking have changed their exterior signs and the blue-colored interiors to green. UBL is a bank with international branches, including in Qatar and Dubai,
which is a big convenience for Pakistanis living abroad. It’s possible that after this, UBL branches in Punjab, Sindh, and across the rest of Pakistan may also convert to UBL Ameen Islamic Banking.
UBL Ameen Islamic Banking.
UBL Ameen Islamic Banking is eliminating interest (Riba). In UBL Ameen accounts, personal loans and debit cards will no longer be available. The profit rate on savings accounts has decreased from 16% to 8%.
UBL Ameen Islamic Banking has formed a committee to ensure that the funds in your savings accounts will be invested in a halal (legitimate) manner. In return, you will receive an 18% profit. As of today, November 18, 2024, the profit rate on savings accounts is 18%, but this rate may fluctuate in the future.
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UBL Ameen profit rates?
UBL Ameen Islamic Banking decreased saving accounts profits from 16% to 8% profits
What changes has UBL made?
UBL has converted to UBL Ameen Islamic Banking, removing personal loans and debit cards, and lowering the savings account profit rate from 16% to 8%.
Why did UBL Ameen discontinue personal loans and debit cards?
UBL is now following Islamic banking principles, which prohibit interest (riba) and offer profit-sharing instead of interest-based services.
How does Islamic banking work at UBL Ameen?
UBL Ameen operates without interest, focusing on halal profit-sharing investments.