WAKALA DEPOSIT is an Islamic contract in which the customer (Muwakil / Principal) provides the capital and authorizes the Bank (Wakkil / Agent) to act on his/her behalf to invest the funds in Shari’ah compliant activities for returns and profits. The Muwakil / Principal and the Wakkil / Agent may agree in advance on the expected profit amount that the investment may generate before signing the Wakala agreement. The Wakala account is managed by a Wakkil/Agent.