Murabaha Against Mudaraba Term & Scheme Deposit Account:

Murabaha Against Mudaraba Term & Scheme Deposit Account is refer to Sale of Goods / Commodities at cost plus on agreed profit mark-up. The scheme is developed to meet up emergency requirement for working capital of Business legitimate (Halal) by Shariah.

Key Features:

• Mode of Investment is Revolving & EMI based.
• Investment Size/Limit is
  1. Minimum Tk.50,000/-.
  2. Maximum 90% of the Face Value of Mudaraba Deposit.
  3. Maximum 80% of the Face Value of Monthly Paying MTDRs.
• Rate of Profit is
  1. Mudaraba Term Deposit & Deposit Scheme Provisional Profit rate + 3 % p.a
  2. EMI based facility, Mudaraba Fixed Deposit & Deposit Scheme rate + 2.5 % p.a
  3. Various types of MTDR or Scheme Deposits with different rates, weighted average rate will be assessed and 3% spread will be added.
• Profit Calculation on daily basis.
• Profit will not be capitalized with the Principal Amount.
• Processing Fee 0.50% on investment amount which is negotiable / may be waived on the basis of Bank-Customer relationship
• Tenure & Renewal is 12 months on revolving basis & 60 months on term investment basis.

Bankers’ Obligations / Customers’ Obligations:

• Early Adjustment & Partial Adjustment is allowed any time without any types of Fee/Charges.
• Compensation / Penalty will be charged on Overdue Liability / Installment amount as decided by Concerned Authority in CHQ or as per Bank’s existing policy.
• The Quotation and sale receipt of the Goods concern to the investment should be in the name of the Bank. There must be three parties (a) Bank, (b) Client & (c) Seller of commodities.
• Repayment procedure from business / own sources or by encashment of Security Instrument.