Al-Wadiah Current Account (AWCA)

Al-Wadiah Current A/C is designed under the Al-Wadiah principles of Islamic Shariah. The Bank commits to refund money deposited in these Accounts on the demand of customers. On the other hand the Bank takes permission from customers that the Bank may utilize their money. Customers may operate these Accounts as their desires. No profit is disbursed in these Accounts and depositors do not bear any loss.

  • This is a non profit and loss bearing product.
  • Bank gives the guarantee to return the full amount on demand / maturity at its own risk (depositor will not share the risk).
  • Bank can invest this deposited fund with the permission of the depositor.
  • Bank may share the profit with the depositors as per management’s decision.
  • Frequent and random transactions do not have any impact on profit calculation as it is a non-profit bearing product.
  • Depending on the amount of deposit there is a yearly excise duty to be charged on this type of account.
  • There is also a specific amount of service charge, chargeable on half-yearly basis.
  • Unlimited transactions are allowed
  • Personalized MICR Cheque Book is available
  • No withdrawal notification required
  • Nominal service charge
  • Any branch Banking facility
  • Bank accepts and supports Standing Instructions
  • Account can be opened by Individual (singly/Jointly)/ Corporate/ Trust/ Club/ Association/ Societies/ Non-Trading Concerns/ Resident and Non- resident Bangladeshi Nationals
  • Age bar for Personal Al-Wadiah Current Account: 18 years or above
  • Minor account can be opened under the supervision of his/her/their guardian.
  • Copy of National ID Card/Passport/ Identification proof of account holder & nominee.
  • 03 passport size photographs of each Signatory duly attested by the introducer
  • 1 photograph of nominee duly attested by the account holder
  • Signature of Introducer
  • Source of income document (Employee ID card).
  • Trade License, Partnership deed, Certificate of Incorporation, Articles and Memorandum of Association, Board Resolution, Form-XII, Personal Information of Directors, TIN Certificate of directors.
  • Initial deposit BDT5000/-