Mudaraba Savings Account

Mudaraba Savings Account

Mudaraba savings account 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).

Mudaraba Saving’s accounts are mainly meant for Non-Trading customers who have some potential saving with a few number of transactions taking place. More than one person can open and operate a Mudaraba Savings Account. A guardian on behalf of a minor can open a Mudaraba Savings Account. In such case if the minor’s age is 12 years he/she can open the account in his name provided that he/she can understand, read and write independently.

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 of Account Holder
  • Signature of Introducer (if required)
  • Updated TIN Certificate
  • Left hand thumb impression and physical attendance (if Account Holder is illiterate)
  • Club/Society/School/College – Certified copies of ‘Memorandum & Articles of Association’, Bye Laws & Regulations/Constitution, Resolution for opening and operation of account
  • Minimum Account opening deposit is BDT 1,000/-

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