A Wakalah Deposit is a Shariah-compliant investment arrangement where you appoint the bank as your agent (wakeel) to invest your funds on your behalf. The bank manages the money according to agreed terms and aims to generate a target profit, which is returned to you, while charging a small agency fee. It offers ethical, transparent, and halal savings or investment options, making it popular among individuals seeking riba-free returns and low-risk Islamic financial products.