ISLAMABAD – The National Savings Centre or Qaumi Bachat Bank offers investment avenues which are fully compliant to the principles of Sharia in line with the long outstanding desire of public.
The national savings has launched a dedicated Islamic window, named as Rafa National Savings (RNS) under which various products are offered to the customers.
Sarwa Islamic Savings Account (SISA) is one of the key Sharia-compliant products that is based on the structure of Wakala-bil-Istismar which is an Investment Agency or a delegated authority whereby a Muwakkil (principal) appoints the Wakeel (agent) to carry out a specific job on behalf of the Muwakkil.
In SISA, he accountholders act as principal and request RNS/CDNS to appoint Ministry of Finance (MoF) as its agent in relation to the investment of the Muwakkil’s funds under the respect SISA and SITA (as the case may apply) on an unrestricted basis in Government’s projects/ revenue generating assets (the Shariah Approved Project Portfolio).
Pursuant to request, CDNS requests the ministry to enter into Shariah based arrangements for managing the investments and generating profit for the accountholders.
Accountholders are entitled to the actual profit under the relevant Wakala-bil-Istismar investment made under the respective SISA product and the anticipated profit rates for such investments are calculated and disclosed by RNS/CDNS on the basis of their pro rata investments.
If profit earned is higher than anticipated profit rates, the excess shall be an incentive granted to MoF as the agent. In case of any loss on the investments, the SISA accountholder has to bear proportionate risks under the agreement.
Sarwa Islamic Savings Account Profit Rate in September 2025
The national savings revised the profit rates on August 21, 2025, and they are still applicable. It has fixed the profit rate for SISA at 9.5 percent.
If you invest Rs100,000 in Sarwa Islamic Savings Account, the customer will receive Rs950 in wake of profit per month. However, the profit is subject to certain tax deduction .
Tax Deduction
Reports said there is a withholding tax on the profit earned from the account, which is 15% for taxpayers (filers) and 35% for non-taxpayers (non-filers).
Investment Limit
An individual can invest minimum Rs50,000 in SISA while there is no cap on maximum investment.
