Mudaraba School Banking Account

Nature of the Product:

Mudaraba School Banking Account is a Savings Deposit Account opened under the Mudaraba principle of Islamic Shari’ah. Mudaraba School Banking Deposit accounts are mainly meant for school going children who have some potential savings with small number of transactions asking place. This account is to be treated as “Minor Account”.

Key Features:

• Minimum opening balance is BDT 100.00
• Account Maintenance Fee is Free
• Cheque Book will not be applicable for this account.
• VISA Embedded Debit Card will be issued in the name of Student/ Children.
• Withdrawal limit is ATM & POS – BDT 2,000.00 (Daily) May be extended to BDT 5,000.00 upon guardian’s written request
• Debit Card Issuance/Replacement/Pin reissue/ Renewal Charges is Free

Requirements for opening:

• Passport size photograph (Student – 2 copies & Nominee – 1 copy)
• Account holder’s birth certificate.
• ID card of the educational institute.
• Reference letter from the institute.
• Attested copy of the last month tuition fee.
• Photocopy of Parents National ID/Passport.
• Duly filled KYC form for both student and guardians individually.
• Both the student and guardian must be Bangladeshi citizen.