Salam Saving Account-i


Salam Saving Account-i

Salam Saving Account-i is a shariah-compliant deposit or savings product that is open to all citizens, permanent residents, cooperatives, companies, associations and other organizations whether among CBP Members or Non-Members.


Salam Saving Account-i

Bai' Salam Concept


Competitive Profit Rates

Shariah Compliances

Register Interest


  • Citizens & Permanent Residents
  • Individual / Non - Individual
  • Member / Non - Member
  • Non bankrupt

Asset Portfolio of Salam Fund

  • Asset Portfolio of Salam Fund is used for the general purpose of CBP business in Islamic financial activities and Shariah - compliant Islamic banking.
  • Minimum Deposit is RM20.00.
  • The agreed rate of profit shall be paid in July and January of each year.
Account Types Eligibility
Salam Saving Account-i Open for public aged 18 and above (Basic Product)
Mystar Salam Saving Account-i Open for children and teenagers under the age of 18
Ahliyyah Salam Saving Account-i Open for CBP’s members who are still active
Baitullah Salam Saving Account-i Open for public aged 18 and above with the objectives to perform Hajj & Umrah
Murabbi Salam Saving Account-i Open for civil servants aged 18 and above among educators and teachers
Masajid Salam Saving Account-i Open for Mosque and Surau
Ijtimaie Salam Saving Account-i Open for any organizations, i.e. Cooperatives, Associations, Clubs and others
Tijari Salam Saving Account-i Open for any companies under Companies Act and registered with ‘SSM’
Account Types Profit Rate (%) Annually
Salam Saving Account-i Balances = 0.25%
Mystar Salam Saving Account-i

Balances Up To RM50,000.00 = 3.00%

Balance Above RM50,000.01 = 0.05%

Ahliyyah Salam Saving Account-i Balances = 0.25%
Baitullah Salam Saving Account-i Balances = 0.25%
Murabbi Salam Saving Account-i Balances = 0.25%
Masajid Salam Saving Account-i Balances = 0.25%
Ijtimaie Salam Saving Account-i Balances = 0.25%
Tijari Salam Saving Account-i Balances = 0.25%
Effective 01 January 2024
  • Agreed with Terms & Conditions of Akaun Simpanan-i Salam (click here).
  • Only senior citizens will be given a passbook.
  • Statement of account will be delivered periodically at least once a year / upon request.
  • The Shariah concept used is the Salam Commodity Concept using the Tawarruq platform arrangement based on the Salam or the Salaf Contract or al-Bai 'Mawsufah Fi Zimmah. It is a sales and purchase contract in which a commodity transaction is carried out on a specified quality and quantity with the delivery of the commodity subject to the future date but the payment of the salam price is made at the time of the contract and/or throughout the time before maturity. The Salam contract is deemed as Harusby jumhur ulama’ including the Mazhab As-Syafie as a form of rukhsah from the usual type of sales and purchase contract.
  • In the Salam commodity structure, CBP will act as the seller of the commodity and the depositor or savings accountholders as the buyer of the Salam commodity. Any deposit received by CBP is treated as a Salam price on a commodity order purchased to be handed over by CBP to the depositor or savings accountholders constructively (hukmi) in the future based on a stipulated period.
  • During the commodity is delivered by CBP on a stipulated date for every six (6) months, the depositor or savings accountholders agreed for CBP as a representative to resell the commodity to a third party or a specific commodity broker. Salam commodity transactions will generate cash with a profit margin to depositors or savings accountholders at an agreed rate.
  • All cash from the transaction is then used as the Salam price for a consecutive series of Salam commodity transactions for the next six (6) months repeatedly until such time as the balance of savings account is withdrawn or no longer has a current balance exceeding the minimum limit (RM20.00), inactive or closed.

Asset Portfolio of Salam Fund is used for the general purpose of CBP business in Islamic finance and Islamic banking activities that comply with shariah principles.

Withdrawal of Savings Account can be made repeatedly without penalty subject to the minimum limit balance and the maximum daily of withdrawal limit.

Salam Saving Account-i accountholders have the opportunity to get other benefits such as Group Takaful Protection, will writing services, excellence rewards (Mystar Salam Saving Account-i) and other benefits as decided by CBP Management from time to time.

Salam Saving Account-i which has an inactive status within two (2) years from the last date of the transaction will become a Dormant Account.

Unclaimed Money (UMA/WTD) within seven (7) years if there is any balance below the minimum limit will be donated to the Infaq Fund with the objectives to cater for charitable purposes as agreed in the Terms and Conditions. Meanwhile, any balance above the minimum limit will be submitted to the Registrar of Unclaimed Money in accordance with the Unclaimed Money Act Procedure.