Hire Purchase under Shirkatul Melk is a synthesis of three contracts:

1. Shirkat
2. Ijarah and
3. Sale

SHIRKAT

Shirkat means partnership. Shirkatul Melk means share in ownership. When two or more persons supply equity, purchase an asset, own the same jointly, and share the benefit as per agreement and bear the loss in proportion to their respective equity, the contract is called Shirkatul Melk contract

IJARAH

Target Customers:

Any credit worthy individuals like:

• Salaried Executives
• Professionals: Doctors, Engineers, Chartered Accountant and Certified Consultants, IT Professionals etc.
• Business Person
• Land Lord / Lady
• Freedom Fighters

Tenor: Up to 25 years(Must be within the maximum allowable age of the Applicant & property)

Approved Plan & Deviation of Plan :

Quard facility is allowed maximum up to 90% of the face value of the Term Deposit.

Features:

• Account can be opened in the name of an individual only, applicant must have a SB/Current/TUD account with TBL.
• Account can be opened for 3, 5, 7 or 10 years.

Features:

• Targeted Segment :Senior Citizens aged 60 years and above

• Opening Balance: BDT 1000/― only

• First Cheque Book Free

• Profit Rate:0.25% p.a. higher than the Mudaraba Savings Account provisional profit rate [may be changed from time to time as decided by ALCO] Profit will be credited on monthly basis Profit will be applied on monthly average balance.

Import business

Import business is predominantly conducted through Letter of Credit. A letter of Credit (LC) is a written undertaking given by the Bank to a seller / exporter to the effect that the Bank will pay the seller a certain amount stipulated in the LC, provided that the seller complies with the terms and conditions of the LC. The Bank issues the LC mainly under the following contractual concepts:

• Wakala/ Agency contract
• Murabaha / Bai-Muajjal
• Musharaka

Export business

Money Double in 3 years

Minimum amount: BDT 10,000.00

Minimum amount to open account: BDT 10,000.00