Al-Ameen Islamic Cash Fund (AICF)*
*formerly UBL Islamic Cash Fund (UICF)
This scheme provides an ideal short-term avenue for your surplus or idle cash allowing you to earn a healthy riba free return while having instant access to your money at all times.
About the scheme
There are times when you may have access to surplus cash that you would like to earn a halal return on while still being able to access your money when needed. You can achieve this by depositing your money in a current account, but you won’t be earning any return on it. If you decide to place this money in a short-term savings account, the return you are likely to earn is generally quite low.
Al-Ameen Islamic Cash Fund (AICF) [formerly UBL Islamic Cash Fund (UICF)] is a mutual fund investment scheme that offers an ideal investment facility that allows you to earn an attractive and stable riba free return on your money while providing you the flexibility of withdrawing your money any time you want.
For your surplus cash
You can use the Al-Ameen Islamic Cash Fund (AICF) [formerly UBL Islamic Cash Fund (UICF)] account as a ‘parking place’ for money that you have access to for a limited period of time. For example, if you have sold an asset like a car or house, and have cash in hand that is not ready to be used yet, you can place this money in the AICF account. For the time your money is placed in this fund – whether it is for a day, a week or a couple of months, you can earn a riba free daily return. And unlike a savings account, there is no fixed term holding period requirement – which mean you enjoy instant access to your money at all times.
Managed as per Shariah Law
AL-Ameen Islamic Cash Fund (AICF) [formerly UBL Islamic Cash Fund (UICF)] is managed by UBL Fund Managers. All investments in the scheme are made strictly in Shariah-compliant instruments under the supervision of a Shariah Advisory Board which comprises of renowned Islamic scholars Mufti Muhammad Hassan Kaleem and Mufti Najeeb Khan.
More about AICF
Disclaimer: All investments in mutual funds are subject to market risks. The NAV of units may go up or down based on the market conditions. Past performance is not necessarily indicative of the future results and investors are not offered any guaranteed/fixed returns. Please read the Offering Document of relevant fund to understand the investment policies and the risks involved.