Having Too Many Bank Accounts?

6/30/2013 11:06:00 pm


This is the continuation of the previous blog post topic, which is on Savings. Recently I was helping to sign-up my clients for Islamic Savings Account which does not requires initial deposit as the company is having a promotion which lasted till today, 30 June 2013. I have some clients who gave a common excuse like "Oh! I have alot of bank accounts" or "I would rather stick to bank 'A' which has Islamic Bank facility but will consider changing it later" or "I am not interested".

As a graduate from Diploma in Fund Management and Administration who learns about investment, I was constantly reminded "Do not put all your eggs in one basket". This phrase applies not only to investment, but also in savings. There is actually no harm in having alot of savings account. Frankly speaking, I myself have various savings account: 2 Conventional and 2 Islamic savings account. Secret to saving your money is to spread it out. Like the following diagram [Diagram 1.1] (Continuation on Aminah's story in the previous blog post [Diagram 1]):

Diagram 1
Diagram 1.1

Well, now you see, no excuse to be made on, to open another Islamic savings account. Show your support for strengthening the Islamic economy. If we Muslims do not support the Islamic economy, who else will do it for us? NO ONE. Let's do our part to come together and support the Islamic economy, for ourselves and for our future generations. Insyaallah. Amin.


PS: Do feel free to share my blog post or provide constructive comments regarding my blog or blog posts as I appreciate your feedbacks, so that I can provide better understanding for everyone's benefit. I am here to share to all of you what I have learnt and also learn from all of you. Sharing is caring. If you are shy, you can email me at nur.farhanah.jasni@gmail.com or FB message me or Google Chat me. Don't be afraid or shy, I am your friendly friend and personal wealth manager, always at your service. 

You Might Also Like



My objective of creating this page is to reach out to more people, to educate about Islamic Finance and Individual Finance, share tips on financial planning and also be able to answer to everyone's queries. So, feel free to share this page and ask me questions. Let's share the knowledge and practice them together. In syaa Allah. Aamiin.