Mudaraba Hajj Savings Scheme (MHSS)

Mudaraba Hajj Savings Scheme is opened under the Mudaraba principle of Islamic Shari’ah. Under the above principle the client is the owner of the fund (Shaheb-Al Mal) and the Bank is just Manager of the Fund (Mudarib). This scheme is basically a savings scheme for any Muslim citizen intending to perform the holy Hajj by building up savings on monthly installment basis that may be required in future to meet his/her Hajj related expenses.

Product Features

  • Fully Shari’ah compliant
  • Profit is calculated on daily closing balance
  • Can be opened for any tenor between 1 to 20 years

Basic Requirements

  • Complete account opening form
  • Personal Information of Account Holder
  • 2 copiesof passport size photograph of Account Holder duly attested by introducer
  • 1 copy passport size photograph of nominee duly attested by Account Holder
  • Identification proof like National ID Card/Passport/Driving License ofAccount Holder
  • Signature of Introducer (if required)
  • Updated TIN Certificate
  • Minimum Account opening deposit will be the installment size mentioned in the Form

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