Banky team Reviewed editorial answerوهل الصكوك اللي في البنك هي نفسها صكوك الحكومة؟
Some Islamic banks name certificate-like products 'sukuk'. That is the name of a bank product, on the bank's terms, and not the sovereign sukuk the government issues.
'Mudaraba' and 'wakala' are names of Islamic contract structures that banks use for deposits and savings products. The details of each structure, i.e. how the profit is calculated and distributed, are in the bank's documents and the product's terms.
What these Islamic products share is that the published figure is an expected profit, settled on the bank's actual results, so it is not a contractual rate. Some banks publish the rates they actually distributed in past periods.
A Sharia ruling on any product is a question for the bank and its Sharia board or a fatwa authority; we describe only the structure the bank states.
Before choosing, check the key-facts statement: the structure's name, how profit is calculated and paid, the term, the minimum, and the early-redemption terms.