PAn adult person or persons having sound mind individually or jointly can open this account.
Islamic Principles
Mudarabais a partnership in profit whereby one party provides capital and the other party provides skill and labour. Profit distributed as per pre-agreed ratio and loss is borne by Sahib Al Maal.
Required/Identification Document
Complete account opening form with TP & KYC.
Photocopy of NID/Passport/Driving License/Ward Commissioner Certificate with photo (Photo must be attested by ward commissioner).
Two recent Passport size photographs of each account holder duly attested by introducer.
Introducer’s signature in the A/C opening form and at the back of the photograph(s) of signatories.
Passport size photograph of nominee (attested by the account holder).
Proof of Address- Copy of Utility Bill for latest 3 months.
Updated TIN (Optional).
Any other documents as required under prevailing rules & regulations of the Bank considering the nature of the Depositor(s).
Charges: See schedule of charges of the bank.
Payment on maturity
On maturity of a regular scheme the bank will pay the balance amount (after deducting Tax, VAT, Excise duty etc.) as per customer preference either by cash,
payment order or to the linked Current or Savings account or will be capitalized and rolled over for the further period of time.
Installment Deposit
Installment may be deposited within 25 th of every month by cash/cheque or under the depositor’s instruction from another deposit account.
if the 25 th day of the month happens to be a holiday, the installment will be deposited by the next working day.
