What are savings certificates bought with a gift and donation condition? | Ask Banky

Editor-in-Chief Mohamed Salah

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Editor-in-Chief Mohamed Salah

What are savings certificates bought with a gift and donation condition?

Asked by Banky team 2 months ago
Banky team Reviewed editorial answer

This is a feature that allows the customer to buy a certificate and donate its return or its principal to a charitable entity, or to buy it in the name of another person while keeping the right to break it or to change its payout frequency throughout his lifetime (the conditional gift, al-hiba al-mashruta).

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