Mudaraba Deposit Pension Account (MDPA)

Features and Benefits
  • Based on Mudarabah Principle of Islamic Shari'ah.
  • 5 and 10 years’ duration.
  • Monthly installment of Tk.100/- and its multiple up to Tk.900/- and Tk 1,000/- and its multiple.
  • Withdrawal facility up to 90% of present encashment value of the MDPA.
  • Monthly installment can be deposited on any working day.
  • Advanced installment allowed.
  • Profit on advanced installment.
  • Installment can be deposited by transfer from other Acount..
  • Transaction notification through SMS.
  • Eligibility
  • Any Bangladeshi national. Parents/guardians can open this account in the name of their minor children.
  • 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.
  • One copy of recent passport size photograph of the nominee duly attested by the A/C holder.
  • Fees/ Service Charges
  • No Fee or Service Charge.