Mudaraba Peoples Pubali Pension Scheme (MPPP)

Features and Benefits
  • Based on Mudarabah Principle of Islamic Shari'ah.
  • Maturity at 60 years of age; but can continue without further deposit.
  • Pre-matured encashment is allowed.
  • Initial deposit is Tk.100/- and its multiple.
  • Profit @ 6 Months MTDR rate plus 1% p.a. on daily product basis.
  • Withdrawal facility up to 90% of present encashment value.
  • Option to deposit as many times as desire.
  • Online transaction is allowed.
  • PI banking facility using e-KYC.
  • Transaction notification through SMS.
  • Joint Account not allowed.
  • Cheque Book available after maturity.
  • Debit Card available after maturity.
  • Eligibility
  • Any Bangladeshi individual of 18 to 59 age group; but people having dual citizenship not eligible.
  • Income Distribution Method
  • Income is distributed between the Bank (Mudarib) and the Depositor (Rab al-Maal) 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.