Mudaraba Education Savings Scheme

In Bangladesh, dreams of many students for higher education don’t come true due to lack of proper savings plan. To assist students in pursuing higher education, this monthly Savings Scheme has been designed. Any Bangladeshi parent or legal guardian can open and operate this Account in the name of their under-aged (below 18) children.


  • Fixed installment savings scheme
  • Monthly installment: Tk.1,000 or its multiple
  • Tenure: 3, 5, 10 or 15 years
  • Deposit Card available for cash deposit thru CRM/IDM
  • Standing instruction available for paying installment from same branch account
  • Free deposit from any branch, agent  banking, Internet Banking or Cellfin

Special Facilities

  • Qard facility: Qard against lien of the account may be allowed up-to 90% of the outstanding balance for those accounts completing minimum 50% of its tenure.
  • Scholarship priority: Children will get special priority for availing IBBL scholarship subject to fulfillment of 10 & 15 years tenure of the account and IBBL scholarship criteria.


Any Bangladeshi parent or legal guardian can open and operate this account in the name of their children aged below 18 years.

Profit policy

MESS 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.

  • Profit on provisional basis is paid twice a year.
  • Additional amount (if any) is paid after annual calculation of Final Rate
  • Advance Income Tax as per Govt rules is deducted each time of profit payment
  • Excise duty may be realized as per Govt norms

Required Documents

  • Complete and duly signed account opening form
  • NID/ Valid Passport/Driving License for parent/guardian
  • Birth Certificate/Student ID/Vaccine Card for child
  • Photograph: for child and gurdian each, passport size, attested by introducer
  • Nominee’s NID & photo (attested by applicant)
  • Recent electricity/ other utility bill in case of present address differing to NID/Passport
  • Receipt copy of last year’s Income Tax return (optional)

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