Mudarabah Cash Waqf Deposit Account (MCWD)

Features and Benefits
  • Based on Mudarabah Principle of Islamic Shari'ah.
  • Timeless Account for permanent endowment/ Sadaqah Zaariah.
  • Waqf amount can be deposited at a time or by installment.
  • Waqf Account can be opened in FC complying concerned regulations.
  • Profit is up for charity; principal will remain intact.
  • Profit is distributed as per instruction of the Waqif
  • No cheque book is issued.
  • Installment can be deposited on any working day of the month.
  • Eligibility
  • A/C may be opened by any Bangladeshi citizen severely or jointly.
  • Income Distribution Method
  • Income is distributed between the Bank (Mudarib) and the Depositor (Waqif) as per Weightage Average Method. .
  • Requirements
  • Photocopy of NID/Passport/Driving License/Certificate of Employer/Certificate of dignitaries.
  • Two copies of recent passport size photograph duly attested by the introducer.
  • Fees/ Service Charges
  • No Fee or Service Charge.