Mudaraba Foreign Currency Term Deposit Receipt Account (MFCTDRA)
Eligibility of open Account
Person resident outside Bangladesh including NRBs
Foreign nationals
Persons of Bangladeshi origin (Bangladeshi holding foreign citizenship)
Companies/Firms registered and operating abroad
Foreign institutional investors
FEATURES
Based on the Mudaraba principle of Islamic Shari’ah.
Attractive profit. Profit will be paid as per Benchmark rate. Approximate profit rate is 6.5% p.a- 8.25% p.a (considering present Benchmark rate against USD)
Repatriation of Principal including profit to abroad
No Vat/Tax on profit
Balances of FC enchased into BDT at any time
Balances held in account can be used for transfer to on-shore bank accounts for meeting necessary payment and various Investments.
Minimum deposit is USD 5,000 or equivalent and any multiple amount of USD 1,000 for tenor of 3 , 6, 12, 24, 36 & 60 months
The Account will be automatically renewed if the funds are not withdrawn within the next 30 days of the maturity.
Eligible Currency for opening Account
US Dollar, Pound, Euro, Australian Dollar, Canadian Dollar , Singaporean Dollar, Japanese Yen, Swiss Franc & Chinese Yuan,
Required Documents
National ID Card/Passport/Driving License
Residency Card/Work permit (if required) for foreign National
Related document/ paper in case of company/farm/institution.
02 (Two) copies of passport size recent photograph of applicant
1 (one) copy of passport size recent photograph of Noninee’s ( to be attested by the applicant)
Account opening from to be filled in & signed by the applicant.
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