Mudaraba Millionaire Scheme (MMS) is a mode of deposit under Mudaraba principles of Islamic Shariah. The Depositors will deposit a monthly amount and expected to get a BDT10.00 lac at the maturity before tax and other charges. IT can be opened for 5 years, 7 years, 10 years, 12 years, 15 years, 18 years and 20 years tenure.
- The name of the Scheme is “Mudaraba Millionaire Scheme”. In short the name is “MMS”.
- This deposit product is guided by the Mudaraba principles of Islamic shariah.
- Until otherwise decided, the profit sharing ratio of Mudaraba deposits is 70:30 between Client (minimum 70%) & the bank.
- Actual profit on the MMS will be calculated at the year end on the basis of weightage fixed by the bank. Until otherwise decided weightage of MMS is 1.00
- Bank will invest the MMS fund through shariah compliant investment modes along with the other Mudaraba fund to earn profit.
- All Govt. Taxes, VAT, Excise duty etc imposed by the regulatory bodies time to time including management charges are applicable on MMS.
- MMS can be opened for 5 years, 8years, 10 years, 12 years, 15 years, 18 years & 20 years tenure or for any other tenure as approved by the bank.
|
Tenor (Years) |
Provisional Profit Rate |
Monthly Installment |
Estimated amount at Maturity |
|---|---|---|---|
|
5 |
6.00% p.a. |
14,320 |
1 (One) Million |
|
7 |
9,620 |
||
|
10 |
6,125 |
||
|
12 |
4,785 |
||
|
15 |
3,470 |
||
|
18 |
2,615 |
||
|
20 |
2,200 |
Any Person eligible to open account.
- National ID Card/Passport/Chairman certificate for A/C Holder and Nominee.
- 03 Passport size photographs of account holder duly attested by introducer
- 1 photograph of nominee duly attested by the account holder
