Mudaraba Millionaire Scheme (MMS)

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