MUDARABA HAJJ DEPOSIT
SCHEME (MHDS) ACCOUNT

Mudaraba Hajj Deposit Scheme (MHDS) is to cater to the need of those Muslims who intends to perform the Holy Hajj after a certain period of time.

Feature

  •   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 (provisional) according to Mudaraba Principle on the account as per Bank policy and acts as the Mudarib as well as custodian of money.
  •   Depositing a sizeable amount of money monthly, the scheme holders can withdraw the total deposited amount with profit after completing contact period to meet up Hajj expense.
  •   Any sound Bangladeshi Muslim citizen attaining 18 years of age can open Mudaraba Hajj Deposit Scheme account.
  •   Monthly deposit amount is predetermined by the bank based on the contact period & rate of profit.
  •   All govt. Taxes, excise Duty impose by the regulatory bodies time to time are applicable.
  •   Account cannot be renewed for further period and no profit be paid after maturity.
  •   A demand deposit account is required to be opened.

Eligibility

Any mentally sound person over 18 years of age can make a contact with Bank’s Branch to open an individual MHDS A/c according to the Banks Mudaraba Scheme Deposit Principle.

Required Documents

Mandatory

  •   Account opening form duly filled up and signed by the applicant
  •   One copy of recent passport size photograph of the applicant
  •   Photocopy of National ID Card / valid Passport / Birth Certificate of the applicant


Additional

  •   One copy of nominee's recent passport size photograph (signature attested by the applicant)
  •   Photocopy of National ID Card / valid Passport / Birth Certificate of Nominee
  •   Tax Certificate (TIN) with proof of updated tax submission receipt
  •   Utility copy for proof of address
  •   Document related to source of fund