This is a Mudaraba Salary Account for Defence personnel 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.
All active service holders of Defence Services (JCOs & ORs) and civil staffs enrolled by the Ministry of Defence having valid Office ID.
• 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 copy).
• Introduction of the account.