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IBBL launched “Mudaraba Bibaho Savings Account (MBSA)” for the people who are planning to save money for bearing the marriage costs. Youths and parents having plans to start a new family in near or distant future may build-up savings under this scheme.
MBSA account operates on Mudaraba (Profit-Loss sharing) principle of Islamic Shariah. This principle offers depositors an agreed portion of business profit and assigns risk for any genuine loss. Islami Bank distributes a minimum 65% of its investment income among all Mudaraba accounts as per weightage. Hereby the rate of profit paid is variable.
**Bank may ask for any other additional document