Mudaraba Term Deposit Receipt (MTDR)

The Mudaraba Term Deposit Receipt (MTDR) Account is opened according to Shari’ah Principles of Mudaraba. According to Mudaraba principles the Mudaraba depositor is the Sahib-Al-Maal (owner of the fund) and the bank is the Mudarib (investor/entrepreneur of the fund). The bank is authorized by the depositor to invest the Mudaraba fund at the risk of the Sahib Al-Maal. Mudaraba Term Deposit Receipt (MTDR) account falls under the category of time restricted Mudaraba in which the Sahib Al-Mal gives a fixed amount of money/capital to the Mudarib for a fixed period of time after expiry of which the Mudaraba contract stands automatically terminated.

  • Islamic Principles
    • Mudaraba is a partnership in profit whereby one party provides capital and the other party provides skill and labour. Profit distributed as per agreed ratio and loss is borne by Sahib AL Maal.
  • Customer Type/Eligibility
    • Any Citizen of Bangladesh/Legally approved person/entity Minimum age 18 years
  • Required/Identification Document
      1. Complete account opening form with TP & KYC.
      2. Photocopy of NID/Passport/Driving License/Ward Commissioner certificate with photo (Photo must be attested by ward commissioner).
      3. Two recent Passport size photographs of each account holder duly attested by Introducer.
      4. Introducer’s signature in the A/C opening form and at the back of the photograph(s) of signatories.
      5. Passport size photograph of nominee (attested by the account holder).
      6. Proof of Address- Copy of Utility Bill for latest 3 months.
      7. Updated TIN (Optional).
      8. Any other documents as required under prevailing rules & regulations of the Bank considering the nature of the Depositor(s).
      Charges: See schedule of charges of the bank.
  • Payment on maturity
    • On maturity of a regular instrument the bank will pay the balance amount (after deducting Tax, VAT, Excise duty etc.) as per customer preference either by cash, payment order or to the linked Current or Savings account or will be capitalized and rolled over for the further period of time.
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