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The monthly account fees on an Islamic cheque/current account can vary depending on the specific bank and the region in which it operates. In general, Islamic banks strive to offer competitive and comparable services to traditional banks, so the account fees are usually similar. However, the fee structures may differ slightly due to the distinct nature of the services offered.

Since Islamic banks follow Shariah principles and avoid interest-based transactions, they might derive their income from different sources than traditional banks. Instead of charging interest or fees for certain services, Islamic banks may impose profit-sharing arrangements or fees for specific value-added services that are compliant with Islamic principles.

It’s essential to compare the fee structures of different banks and account types to make an informed decision. Some Islamic banks may offer fee-free accounts or provide waivers based on maintaining a minimum balance or meeting specific criteria. Additionally, the fees may vary based on the level of service and the features offered with the account, similar to traditional banking.

To get a clear understanding of the fees associated with an Islamic cheque/current account, it’s advisable to contact the bank directly or review their fee schedule and terms and conditions. Keep in mind that competition among banks can also influence fee structures, so it’s essential to explore different options to find an account that suits your needs and offers competitive fees.

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