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Mudaraba Umrah Savings Scheme


Many people cherish a noble will to visit Makkah and Madina in order to perform umrah. But they are not always successful to go there due to insolvency. These people will be able to perform umrah by saving money under this scheme.

Features

  • Fixed installment savings scheme
  • Tenure: 1, 2, 3, 4, 5, 6, 7, 8, 9, 10 or 12 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

Instlallment Amount

Term (year)

Monthly Deposit

  
1 Tk. 12,000
2 Tk. 7,000
3 Tk. 5,000
4 Tk. 4,000
5 Tk. 3,500
6 Tk. 3,000
7 Tk. 2,500
8 Tk. 2,000
9 Tk. 2,000
10 Tk. 2,000
12 Tk. 1,000

 

Eligibility

  • Any Muslim Citizen aged from 18 years and above.
  • Minor (below 18 years) can also open the Account where parent or legal guardian will operate the same.

Premature Encashment

  • If the client intends to perform Umrah earlier, he can close the Account for full encashment before maturity.
  • Closing charge to be applicable in this Account as per Mudaraba policy.
  • If the closing amount does not cover the total cost of Umrah, Rest amount have to be borne by the client.
  • Profit rate will not be changed if prematured.

Profit policy

Umrah 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 time to time.

  • 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
  • Recent Photo: 2 copy, 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)

**Bank may ask for any other additional document

Important Downloads


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40, Dilkusha C/A
Dhaka - 1000, Bangladesh

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