This product is designed under Mudaraba principles of Islamic Shariah. Here Bank is 'Mudarib' and customers are 'Shahib Al-Mal'. On behalf of depositors, the Bank invests their deposited money and distributes investment-income earned from the Mudaraba funds. Provisional profit is paid half yearly and final profit rate is adjusted at the year end.
Provisional Profit rate: 3.50% p.a.
- Any Bangladeshi citizen (singly/jointly) age of 18 years are eligible to open the account.
- Minor account can be opened under the supervision of his / her / their guardian.
- Institution also can open the account.
- Copy of National ID/Passport/Proof of Citizenship etc. of A/C Holder and Nominee.
- 03 passport size photographs of each Signatory duly attested by the introducer.
- 01 passport size photograph of nominee duly attested by the account holder.
- Source of income document (Employee ID card for individual).
- Trade License, Partnership deed, Certificate of Incorporation, Articles and Memorandum of Association, Board Resolution, Form-XII, Personal Information of Directors, TIN Certificate of directors.
- Introduction of the account.
- Initial deposit BDT1000.