Mudarabah Hajj Savings Scheme (MHSS)

Features and Benefits
  • Based on Mudarabah Principle of Islamic Shari'ah.
  • Duration: 1 year and its multiple up to 20 years.
  • Monthly Installment is determined on the basis of target year of Hajj.
  • Payment on maturity or premature encashment.
  • Advanced monthly installment is allowed.
  • Installment can be deposited on any working day of the month.
  • Profit calculation on daily product basis.
  • No cheque book is issued.
  • Surplus amount over the actual Hajj expenses will be paid to the customer.
  • Deficit amount over the actual Hajj expenses will be provided by the customer.
  • Eligibility
  • A/C may be opened in the name of any Individual Person.
  • Income Distribution Method
  • Income is distributed between the Bank (Mudarib) and the Depositor (Saahibul Maal) as per Weightage Average Method.
  • Requirements
  • Photocopy of NID/Passport/Driving License.
  • 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.