Mudaraba Kotipati Scheme

Mudaraba Kotipati Scheme (MKS) is a mode of deposit under Mudaraba principles of Islamic Shariah. It is a profit / loss bearing product. These deposits are repayable subject to a period of notice and hence known as time deposits or time liabilities meaning thereby that these are withdraw able subject to a period of notice and not on demand. Deposits under MKS are accepted for different tenures as decided by the Bank and are entitled to receive profit on their deposit on the basis of weightage as decided by the management. A receipt is issued against each deposit under MKS. With this deposit, customers have option how quickly he/she can be a Kotipati. This product is specially designed for the parents who have already started thinking of their children’s future. This product is also suitable as Pension Plan for individuals.

  • The name of the Scheme is “Mudaraba Kotipati Scheme”. In short the name is “MKS”.
  • This Scheme is designed under the “ Mudaraba” principles of Islamic Shariah.
  • Provisional profit rates, as decided by the management, will be declared & calculated prior to working out the year-end actual profit position. Any surplus/short-fall will be adjusted with the provisional position calculated earlier.
  • Until otherwise decided, the profit sharing ration of Mudaraba Deposits will be 70:30 between the client and bank. Profit shall be calculated on the basis of daily product as per weightage approved by the Management.
  • All Govt. Taxes, VAT, Excise duty etc imposed by the regulatory bodies time to time are applicable.
  • Under this scheme, accounts can be opened for 7 terms:  5 years, 7 years, 10 years, 12 years, 15 years, 18 years & 20 years respectively.

Any citizen of Bangladesh can open this account and the account can be opened in the name of an Individual only.