Name of the Organization : Shahjalal Islami Bank Limited
Type of Facility : Mudaraba Savings Deposit Accounts
Country : Bangladesh
Website : https://www.sjiblbd.com/
Mudaraba Savings Deposit Accounts:
Minimum amount for Mudaraba Savings Deposit Account:
Mudaraba Savings Deposit Account shall be opened with a minimum of Tk.2,000/ which is also the minimum balance required to be maintained by the Account holder for sharing profit on his deposit.
Related : Shahjalal Islami Bank Bangladesh Apply For Internet Banking : www.statusin.org/6762.html
The deposit is accepted on the basis of Mudaraba principle of Islamic Shariah and the fund is invested in accordance with Islamic principles and the Bank will have the right to invest such fund, at its own judgment in any Halal business with the consent with the depositors signing the rules contained on the reverse of the relative AOF.
One account in one name:
Not more than one account should be opened in one name for the same purpose.
Rate of profit:
Profit on Mudaraba Savings Deposit Accounts shall be allowed at the rate as advised by Head Office from time to time under Mudaraba Principle.
Profit application of:
Profit is to be applied on half yearly basis i.e. in June & December and Profit shall be accrued in each month.
Two withdrawals a week:
Maximum withdrawals of Tk.25,000/ from Mudaraba Savings Deposit Account twice a week are admissible.
Withdrawals from Mudaraba Savings Deposit Account upto a maximum 25% of deposits, which should not exceed Tk. 25,000/ in a week. For withdrawals of amounts over the above limit, the customer shall be required to give 7 days’ prior notice in writing. But any amount can be withdrawn on surrender of profit for the month.
No profit will be paid in a Mudaraba Savings Deposit Account for the month in which withdrawals have been made more than four times in a month or over 25% of the total deposit and above Tk. 25,000/ without notice.
Service charge is applicable as in the case of Al-Wadiah Current Deposit Account and profit may be forfeited from the customers in cases where withdrawal is made more than twice a week or 25% of the deposit as detailed above
The Bank at its discretion may realize maximum of Tk.50/ for each cheque returned unpaid in Mudaraba Savings Deposit Account outside Clearing House area.
The Bank may at its discretion and without assigning any reason stop issuance of new chequebook or any form to a customer.
The Bank may close the Account without assigning any reason therefor.
No Overdrawing:
No Mudaraba Saving Account shall be allowed to be overdrawn
* For Schedule of Profit Rate, please click here Schedule of Profit Rate
* For details, please contact nearest SJIBL Branch.
About Us :
Shahjalal Islami Bank Limited (SJIBL) commenced its commercial operation in accordance with principle of Islamic Shariah on the 10th May 2001 under the Bank Companies Act, 1991.
During these years SJIBL has diversified its service coverage by opening new branches at different strategically important locations across the country offering various service products both investment & deposit.