Mudarabah Savings Account (MSA)

Features and Benefits
  • Based on Mudarabah Principle of Islamic Shari'ah.
  • MICR Cheque facility and automated clearing facility.
  • Debit Card Facility with wider ATM access.
  • Online Transaction facilities through largest online network across the country.
  • Electronic Fund Transfer and Internet Banking facility.
  • Charge free Statement of A/C to be provided twice in a year.
  • Standing Instruction Arrangement is available.
  • Minimum initial deposit is Tk 500/-.
  • 7 days' notice required for withdrawal of Tk.50,000.00 or ¼ of the Balance.
  • A/C can be opened in joint name and in the name of organizations.
  • Transaction notification through SMS.
  • Eligibility
  • Individual, Corporate Body, Trust, Club, Association, Society, Non-trading Concerns may open and operate an A/C.
  • 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.
  • Deposit can be drawn 4 times a month and 1/4th of the deposit.
  • Specific papers/documents as required.
  • Fees/ Service Charges
  • Nominal Fee/ Service Charge as per Schedule of Charges.