MUDARABA MONEY
SPINNING (MMS) ACCOUNT

Mudaraba Money Spinning Account is a sub product of Mudaraba Savings deposit account. The Accounts are mainly applicable for highest net worth customers who have savings need. Profit sharing and loss bearing of this account is shared based on Mudaraba principle of Islamic Shariah.

Feature Of MMS

•   The Bank will utilize all such deposits as the Bank may deem appropriate in approved Shariah compliant modes of investments.
•   The Bank pays profit/loss according to Mudaraba Principle on the account as per Bank policy and acts as the Mudarib as well as custodian of money.
•   During banking hour multiple deposit & withdrawal possible.
•   Provisional profit of MMS account will be calculated on a daily basis. However, earned provisional profit is to be credited on a monthly basis.
•   The life cycle of the account is perpetual.
•   The account shall not be allowed for overdrawn.
•   One MICR Cheque book (@ 10 Leaves) Free annually, Free SMS, Internet Banking for statement/Balance checking.
•   Debit Card Issuance Charges- 1st year free.
•   Profit calculation on daily retention balance (Minimum Tk.50,000.00) and transfer to account monthly.
•   Minimum opening balance Tk.10,000.00 and retention balance Tk.5,000.00.

Eligibility