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Manarah Current Account | Manarah Savings Account | Manarah Term Deposit Receipt | Manarah Monthly Deposit 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
Manarah Monthly Deposit Scheme is a recurring monthly savings scheme and is 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 a predetermined profit sharing ratio. The scheme is designed in such a way that the fixed income group will be able to save money and get an attractive lump sum amount at the end of deposit period.
This account is suitable for any Bangladeshi citizen above the age of 18 years
No minimum balance is required
Minimum tenor of 1 year is required to earn profit at the savings account rate
Minimum installment is BDT 500/- and maximum is BDT 50,000/- per month
This account can be operated for 3, 5, 7 or 10 years period
Premature Closure
No. of Year Applied profit
Less than 1 year No profit is applicable. Account holder will get only the amount of self deposited portion.
More than 1 year but less than 3 years Account holder will get the amount of self deposited portion along with profit at the prevailing savings profit rate.
More than 3 years but less than 5 years Account holder will get the amount of matured value of 3 years and the amount of self deposited portion for the fraction period at prevailing savings profit rate.
More than 5 years but less than 7 years Account holder will get the amount of matured value of 5 years and the amount of self deposited portion for the fraction period at the prevailing savings profit rate.
More than 7 years but less than 10 years Account holder will get the amount of matured value of 7 years and the amount of self deposited portion for the fraction period at the prevailing savings profit rate.
* For details, please contact nearest City Manarah Branches.
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