.jpg "Mudaraba Term Deposits (MTDR)")
Mudaraba Term Deposits (MTDR)
- Shari’ah Contract: The MTDR product is administered on the basis of Shari’ah-compliant Mudaraba Contract. DBH Islamic provides assurance of the highest degree of Shari’ah compliance.
- Profit Calculation: DBH Islamic follows more Shari’ah-compliant Income Sharing Ratio (ISR) method in profit distribution. The product offers a lucrative ISR and distributes attractive and comparative higher rate in the industry on the basis of Earned Rate of Return (ERR).
- Eligibility: All individuals and corporate customers can open this account.
- Deposit Amount: Minimum BDT 10,000 and any amount at maximum.
- Tenure: 3, 6, 12, 24 and 60 months.
- Withdrawal Method: On maturity, the profit or the profit with principal is credited to the Bank account automatically as insturcted by the concerned customers without any hassle.
- Auto Renewal: Embedded auto-renewal option at maturity.
Required Documents
For individual clients, the following documents are required to be submitted along with the deposit application form. Generally, these documents are needed to be submitted once if you even maintain multiple deposits with DBH Islamic.
- Properly filled-up Mudaraba Deposit Application Form and Customer Registration Form.
- Photocopy of valid identification document - NID of Depositor(s) and Nominee(s)
- Passport size Photos of Depositor(s) and Nominee(s)
For existing client, only Application Form, cheque and nominee's photo (where applicable) will be required.
For corporate clients following documents are required:
- Properly filled-in Corporate Customer Registration Form (CCRF) and Corporate Application Form.
- Properly filled-in Corporate Signatory Form with Passport size photo(s) of all signatories along with a photocopy of NID
- Forwarding letter on their Letterhead
- Board Resolution on Signatories
- Trade License (In case of Proprietorship)
- Memorandum of Association and Articles of Association or By-Laws (where applicable)
For existing client, only Application Form, Cheque and Forwarding Letter will be required.
