Mudaraba Foreign Currency Account

Mudaraba Foreign Currency Account is opened under the Mudaraba principal of Islamic Shari’ah. Under the above principal the client is the owner of the fund (Shaheb-Al Mal) and the Bank is just Manager of the Fund (Mudarib).

This Account may be opened by depositing any amount in USD/Pound/Euro or Yen at designated Branches of the Bank. It is basically of term deposit nature. Bangladeshi nationals working/residing abroad, foreign national residing in Bangladesh and also foreign firms registered abroad and operating in Bangladesh, Foreign missions and their expatriate employees are eligible to open this Account. The Account-holder will get profit as per rules and regulation.

Basic Requirements

  • Complete account opening form
  • Personal Information of Account Holder
  • 2 copiesof passport size photograph of Account Holder duly attested by introducer
  • 2 copies of passport size photograph of nominee duly attested by Account Holder
  • Signature of Introducer (if required)

Additional Requirements

  • Photocopy of valid Passport / Photocopy of valid Passport of CEO (for foreign company)
  • Employer Certificate/Work Permit/I-20/Green Card/ Work Permit from Board of Investment
  • Certificate of Incorporation/Articles of Association/Memorandum of Association / Permission of capital issued from SEC or TJSCF/Registration with Board of Investment
  • TIN Certificate & Valid Trade License
  • Board Resolution/IRC/ERC/Schedule X & XII [where applicable]

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