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Manarah Current Account | Manarah Savings Account | Manarah Term Deposit Receipt | Manarah Monthly Deposit Scheme | Manarah Monthly Benefit Scheme | Manarah Personal Finance | Manarah Auto Finance | Manarah Home Finance |Manarah Hajj Deposit Scheme| IISR: Mudarabah Profit Sharing Mechanism | Schedule of Charges | Islamic Banking Investment Rate| Islamic Banking Deposit Rate
Manarah Monthly Benefit Scheme is a term deposit operated under the principle of Mudaraba. It is an Islamic financial partnership contract where one party provides capital and the other party provides labor. Income generated from the venture is distributed between the parties with predetermined profit sharing ratio.
Eligibility:
This account is suitable for any Bangladeshi citizen above the age of 18 years
Features:
This account can be operated from 1 year to 3 years period
Profit Rate:
MMBS deposit holder shares 70% of yield from investment
Profit (on the deposited amount) calculated and accrued at the end of each month based on pre-determined profit sharing ratio
Profit payable end of every month
Profit amount varies every month
Pre-mature encashment:
Less than 3 months – Customer will not get any profit & profit already paid to customers CASA a/c will be deducted from his principal amount.
More than three months but less than product tenor– Customer will get profit @ SB rate for the deposit period. Excess profit already paid to customers CASA a/c will be deducted from his principal amount.
What are the document require to open the account
Individual Information in the prescribed form
Any photo ID (NID/Driving License/Passport /Chairman certificate & Birth registration certificate) of the Applicant
Proof of Income (Employee ID/Trade License/Association Certificate/Rental deed or Ass applicable)
Proof of residence (Utility bill/rental agreement) as appropriate
2 copies of passport size photograph of the applicant attested by the introducer
1 copy passport size photograph of the nominee attested by the applicant
Any photo ID (NID/Driving License/Passport/Chairman certificate & Birth registration certificate) of the Nominee
Nominee Details
* For details, please contact nearest City Manarah Branches.
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