Mudaraba Hajj Scheme A/C
Hajj is one of the fundamental worship (Ibadah) of Islam. However, because of the prevailing socio-economic situation in the country, the people interested to perform Hajj cannot arrange the required amount of money at a time to perform Hajj. The desire of many to perform Hajj is thus never fulfilled. Over twenty five thousand devoted Muslims from Bangladesh perform holy Hajj every year. Financial solvency and physical fitness are the pre-requisites of performing Hajj. The majority of the people, however, reach the fag end of their life in arranging the required amount of money for Hajj. Islami Bank Bangladesh Limited has, therefore, introduced "Hajj Savings Scheme" so that persons eager to perform holy Hajj may build-up savings through 'Mudaraba Hajj Savings Account'.

Salient Features

  • Mudaraba Hajj Savings Account can be opened in the name of the individual only.

  • Deposits in this account are received on the basis of Mudaraba principle of Islamic Shariah.

  • No photography is required to open this account.

  • The Bank issues pass-book against this account. After the deposit of each instalment, the depositor must ensure that such deposit is recorded in the pass-book. If the pass-book is lost, the Bank shall charge Taka 10/- for issuance of new pass-book.

  • The account holder must immediately communicate to the Bank of any change of the address.

  • Persons eager to perform Hajj within the period of one to twenty five years may build-up savings to perform Hajj by depositing monthly instalment.

  • The under mentioned chart indicates the year-wise monthly instalments of persons intend to perform Hajj in 2012 to 2015. The monthly instalment shall be applicable on the basis of opening year of the account.

  2012 2013 2014 2015
Term/year Monthly installment (Tk.) Estimated expenditure related Hajj (Tk.) Monthly installment (Tk.) Estimated expenditure related Hajj (Tk.) Monthly installment (Tk.) Estimated expenditure related Hajj (Tk.) Monthly installment (Tk.) Estimated expenditure related Hajj (Tk.)
25 1,510 14,00,000 1,575 14,60,000 1,640 15,20,000 1,700 15,80,000
24 1,580 13,40,000 1,650 14,00,000 1,725 14,60,000 1,800 15,20,000
23 1,660 12,80,000 1,735 13,40,000 1,815 14,00,000 1,870 14.60.000
22 1,745 12,25,000 1,820 12,80,000 1,905 13,40,000 2,000 14,00.000
21 1,830 11,70,000 1,920 12,25,000 2,005 12,80,000 2,100 13.40,000
20 1,925 11,15,000 2,020 11,70.000 2,120 12,25,000 2,210 12.80.000
19 2,020 10,60,000 2,125 11,15,000 2,230 11,70,000 2,340 12,25,000
IS 2,122 10,05,000 2,240 10,60,000 2,355 11,15,000 2,470 11,70,000
17 2,240 9,55,000 2,360 10,05,000 2,485 10,60,000 2,620 11,15,000
16 2,364 9,05,000 2,495 9,55,000 2,625 10,05,000 2,770 10,60,000
15 2,495 8,55,000 2,640 9,05,000 2,775 9,55,000 2,930 10,05,000
14 2,635 8,05,000 2,800 8,55,000 2,965 9,05,000 3,130 9,55,000
13 2,788 7,55,000 2,970 8,05,000 3,155 8,55,000 3,350 9,05,000
12 2,931 7,10,000 3,160 7,55,000 3,370 8,05,000 3,580 8,55,000
11 3,175 6,65,000 3,390 7,10,000 3,600 7,55,000 3,850 8,05,000
10 3,435 6,20,000 3,685 6,65,000 3,935 7,10,000 4,200 7,55,000
9 3,700 5,75,000 3,980 6,20,000 4,270 6,65,000 4,570 7,10,000
8 4,000 5,30,000 4,335 5,75,000 4,675 6,20,000 5,015 6,65,000
7 4,400 4,90,000 4,760 5,30,000 5,170 5,75,000 5,560 6,20,000
6 4,920 4,50,000 5,350 4,90,000 5,785 5,30,000 6,300 5,75,000
5 5,600 4,10,000 6,150 4,50,000 6,690 4,90,000 7,250 5,30,000
4 6,580 3,70,000 7,280 4,10,000 8,000 4,50,000 8,700 4,90,000
3 8,150 3,30,000 9,100 3,70,000 10,100 4,10,000 11,100 4,50,000
2 12,000 3,10,000 12,700 3,30,000 14,250 3,70,000 15,750 4,10,000
1 23,200 2,90,000 24,800 3,10,000 26,400 3,30,000 29,600 3,70,000

    Profit shall be disbursed over the deposit on the basis of daily balance by giving 1.10 weightage, which is more than that of 3 year term deposit.

  • If any depositor intends to perform Hajj before the maturity of deposit, then he can do so by depositing the balance amount fixed for the year alongwith his savings in the Mudaraba Hajj Savings Account.

  • If any depositor, for some reasons, is unable to perform Hajj and wants to withdraw the deposited money, he shall get profit over the deposit at the rate of profit applicable for Mudaraba Savings Account.

  • Mudaraba Hajj Savings Account can be transferred from one Branch to another upon application from the depositor on genuine ground.

  • Money can not be withdrawn from Mudaraba Hajj Savings Account and as such no cheque-book is issued.

  • In a year there shall be 12 instalments, 60 instalments in 5 years and 300 instalments in 25 years.

  • Regular instalment shall have to be deposited within first 10 days of the month. Advance deposit of investment is acceptable.

  • If any depositor fails to deposit 3 instalments consecutively then his Mudaraba Hajj Savings Account shall be void and such depositor shall get profit at the rate of profit given to Mudaraba Savings Account. But if the arear of one or two instalments are deposited alongwith the next regular instalment, the account shall remain operative. But if such irregular practice is repeated within the same year the account shall become void.

  • At the end of the period if the total deposited amount including profit becomes less than the actual expenditure for Hajj in that particular year then the depositor may perform Hajj by depositing the balance amount.

  • At the end of the period, if it appears that the actual expenditure for Hajj in that particular year is less than the deposited amount including profit, then the excess amount shall be refunded.

  • In case any depositor under Hajj Savings Scheme fails to perform Hajj in the year of maturity and desires to perform Hajj subsequently, he may be allowed the benefit of Hajj Savings Account up-to the date of maturity and for the subsequent period till performance of Hajj at Mudaraba Account rate of profit.

  • All categories of employees of Islami Bank Bangladesh Limited are eligible to participate in this Scheme.

  • The Bank, at any time, may modify, revise and cancel, amend and rescind any rule of this account and the depositor shall be bound to abide by them.

 

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