Al Wadeeah Current Account (NGB AWCA)
Nature of Account Current  Account
Eligibility Any Legitimate business entity like Sole Proprietorship, Partnership or Private limited Company, Clubs/Societies/NGOs/Charitable Organizations/School/College/ University with valid trade license and other documents as per Bangladesh Bank requirements.
Currency BDT
Islamic Principle Under Al- Wadeeah Principles
Opening Balance BDT 1,000/-
Mudaraba SavingS Account (NGB MSA)

Eligibility

Any Citizen of Bangladesh/Legally approved person/entity 

Minimum Age 18 years

Currency

BDT

Account Type

Mudaraba Savings Account ( MSA)

Islamic Principle

Under Mudaraba Mode as per Depositor-Bank Income Sharing Ratio (ISR) approved by ALCO/BoD

Final/Actual Profit

Final Profit will be disbursed after finalization of Bank’s Accounts for the respective year.

Identification Document

– Complete Account Opening Form with TP & KYC

– Photocopy of NID/Passport/Driving License/Ward Commissioner certificate with photo (Photo must be attested by ward commissioner)

– 2 copies Passport size photograph of each account holder.

– Passport size photograph of nominee (attested by the account holder)

– Proof of Address- Copy of Utility Bill for last 3 months.

– Updated TIN (Optional), (In case of TIN holder income Tax will be deducted from profit @ 10% and without TIN @ 15% as per NBR rules)

– Any other documents as required under prevailing rules & regulations of the Bank considering the nature of the Depositor(s)

Opening Balance

BDT 1,000/-

MUDARABA SHORT NOTICE DEPOSIT ACCOUNT (NGB MSND)

Account Type

NGB Mudaraba Short Notice Deposit (NGB MSND)

Islamic Principle

Under Mudaraba Mode as per Depositor-Bank Income Sharing Ratio (ISR) approved by ALCO/BoD

Final/Actual Profit

Final Profit will be disbursed after finalization of Bank’s Accounts for the respective year.

Eligibility

Any Legitimate business entity like Sole Proprietorship, Partnership or Private limited Company, Clubs/Societies/NGOs/Charitable Organizations/School/College/University with valid trade license and other documents as per Bangladesh Bank requirements.

Currency

 BDT

Opening Balance

BDT 20,000/-

Mudaraba Queen Account (NGB MQA)

Product Name

Mudaraba NGB Queen Account (NGB MQA)

Account Type

Savings Account

Islamic Mode

Under Mudaraba Mode as per Depositor-Bank Income Sharing Ratio (ISR) approved by ALCO/BoD

Final/Actual Profit

Final Profit will be disbursed after finalization of Bank’s Accounts for the respective year.

Eligibility

-Any Female Citizen of Bangladesh

-Minimum Age 18 years

Currency

BDT

Identification Document

-Complete account opening form with TP & KYC

      – Photocopy of NID/passport/Driving License/Ward Commissioner certificate with photo (Photo must be attested by ward commissioner)

–  2 copies Passport size photograph of each account holder.

–  Passport size photograph of nominee (attested by the account holder)

–  Proof of Address- Copy of Utility Bill from latest 3 months.

–          Updated TIN (Optional)

Opening Balance

BDT 1,000/-

Profit Forfeiture Rule

No profit forfeiture rule will be applicable for number of withdrawals and transaction volume.

Mudaraba PERFECT SAVINGS Account (NGB MPSA)

Product Name

NGB Mudaraba Perfect Account (NGB MPSA).

Account Type

Monthly profit  bearing Savings Account.

Eligibility

Any Citizen of Bangladesh/Legally Approved Person

Minimum Age 18 years

Currency

BDT

Islamic Principle

Under Mudaraba Mode as per Depositor-Bank Income Sharing Ratio (ISR) approved by ALCO/BoD

Final/Actual Profit

Final Profit will be disbursed after finalization of Bank’s Accounts for the respective year.

Identification Document

-Complete Account Opening Form with TP & KYC

–      Photocopy of NID/passport/Driving License/Ward Commissioner certificate with photo                  (Photo must be attested by ward commissioner)

–      2 copies of Passport size photograph of each account holder.

–      Passport size photograph of nominee (attested by the account holder)

–      Proof of Address- Copy of Utility Bill for last 3 months.

–      Updated TIN (Optional)

Opening Balance

BDT 20,000/-

Mudaraba JUNIOR SAVINGS Account (NGB MJSA)

Product Name

NGB Mudaraba Junior Savings Account (NGB MJSA).

Account Type

Savings Account for Minors.

A No Frill Savings Account for actual Students considering Financial Inclusion as instructed by Bangladesh Bank

Eligibility

This Account is only for Children but operated by parents until Child attain his/her maturity (Age 18).

Account agreement to be signed by the father or mother on behalf of the Minor. Children must be 6- 18 years old

Currency

BDT

Islamic Principle

Under Mudaraba Mode as per Depositor-Bank Income Sharing Ratio (ISR) approved by ALCO/BoD

Final/Actual Profit

Final Profit will be disbursed after finalization of Bank’s Accounts for the respective year.

Identification Document

For Child

-Complete account opening form with TP & KYC

-Photocopy of School ID(Optional)

-Photocopy of Birth Certificate/Passport/ Certification of age from School (original copy of certification of age must be produced)

-Two copies of attested Photo, attestation done by parents

For Parents

›National ID/Passport/driving License

›Two copies photo of parents

›Utility Bill Copy for latest 3 months

Opening Balance

BDT 100/-

MUDARABA FRESHER’S SAVINGS ACCOUNT (NGB MFSA)

Product Name

NGB Mudaraba Fresher’s Savings Account (NGB MFSA)

Account Type

Savings

Eligibility

·Actual Students of Bangladesh

·Citizen of Bangladesh

·Age between 18 to 25 years

Islamic Principle

Under Mudaraba Mode as per Depositor-Bank Income Sharing Ratio (ISR) approved by ALCO/BoD

Final/Actual Profit

Final Profit will be disbursed after finalization of Bank’s Accounts for the respective year.

Provisional Profit Rate

As approved by ALCO (Changeable from time to time)

Currency

BDT

Opening Balance

BDT. 500/-

MUDARABA FARMERS SAVINGS ACCOUNT (NGB MFRSA)

Product Name

NGB Mudaraba Farmers Savings Account (NGB MFRSA)

Nature of Account

A No Frill Savings Account for Actual Farmers considering Financial Inclusion as instructed by Bangladesh Bank

Eligibility

·Actual Farmers of Bangladesh

·Minimum age 18 years

Account Type

Savings

Islamic Principle

Under Mudaraba Mode as per Depositor-Bank Income Sharing Ratio (ISR) approved by ALCO/BoD

Final/Actual Profit

Final Profit will be disbursed after finalization of Bank’s Accounts for the respective year.

Provisional Profit Rate

As approved by ALCO (Changeable from time to time)

Currency

BDT

Opening Balance

BDT. 10/-

Mudaraba Salary Account (NGB MSSA)

Product Parameter

Details

Product Name

NGB Mudaraba SALARY Account

Account Type

Account Type profit bearing savings account for any salaried employee of corporate bodies in Bangladesh.

Eligibility

Salaried individuals of any corporate bodies in Bangladesh, who are Bangladeshi Nationals, with necessary photo ID document as applicable for savings account.

However, it is imperative that the corporate bodies will have a salary A/c relationship with us. No walk-in customers will be able to avail this product. Without the salary relationship we will not offer this product to anybody.

Minimum Age I8 years

Currency

BDT

Islamic Principle

Under Mudaraba Mode as per Depositor-Bank Income Sharing Ratio (ISR) approved by ALCO/BoD

Final/Actual Profit

Final Profit will be disbursed after finalization of Bank’s Accounts for the respective year.

Identification Document

Complete account opening form with TP & KYC,

NID, Employee ID, Business card,

Two passport size photographs of applicant,

One Passport size photograph of Nominee (attested by the account holder)

Updated TIN (optional)

Opening Balance

Without any Balance.