Profit Sharing Investment Accounts (PSIA)
SHAPE® has structured Profit Sharing Deposits which comply with FDIC rules in the United States. These are designed to have unique advantages under Basel II regulations in comparison to traditional PSIA accounts at Islamic banks. Our concepts are applicable in all OECD, GCC and ASEAN markets. The PSIA may be used to structure a money market deposit, a term investment, and even a savings account.
In the US, our Profit Sharing Deposits are currently offered by a community bank to any US customer. The SHAPE® Profit Sharing Deposit program invests in the MALT® redeemable lease program currently offered by the bank. The yield of the account can go up or down depending upon the performance of the underlying MALT® portfolio.
SHAPE® must stress the fact that SHAPE® is not a licensed deposit taking institution: we do not take or offer deposits. SHAPE® does not work with consumers. SHAPE® licenses Shariah compliant financial products to authorized banks and financial service companies.
PSIA is available for licensing.