This product is tailored to corporate and high-net-worth individuals that need high returns with commensurate risk on their investment. Under Wakala, the Bank will collect deposits from its customers and invest in a specific business venture to be agreed with the customer. The Bank however acts as an agent to invest the depositor's funds ethically. The Bank will indicate the expected profit rate to the customer on the agreed period for the investment.
- Minimum investment of N300,000,000.00 (three hundred million naira only) or its equivalent in any other currency acceptable to the Bank.
- Funds collected from the investor is deployed towards financing a specific project/transaction to be agreed upon.
- Expected rate of return on each transaction is agreed between the parties involved in the transaction before commencing the investment
- The Bank undertakes the pre-investment appraisal and due diligence on behalf of the the investing customer