MUDARABA TERM DEPOSIT RECEIPT (NGB MTDR)

Product Name

NGB Mudaraba Term Deposit Receipt (NGB MTDR)

Account Type

Term Deposit

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.

Customer Type/Eligibility

Any Citizen of Bangladesh/Legally approved person/entity 

Minimum age 18 years

Minor Account

May be opened on behalf of minor by his/ her natural guardian/ guardian appointed by the competent jurisdiction.

Currency

BDT

Minimum Amount

BDT 50,000.00

Identification Documents

– 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)

Tenor

1, 3, 6, 12, 24, 36 months and 100 days.

Mudaraba Double Benefit Scheme (NGB MDBS)

Product Name

NGB Mudaraba Double Benefit Scheme

Nature of Account

Term Deposit

Islamic Principle

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

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 as per capital ratio.

Final/Actual Profit

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

Eligibility

Any citizen of Bangladesh/Legally approved person/entity

Minimum Age 18 years

Currency

BDT

Required/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), (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)

Minimum Amount

Minimum: BDT 50,000/-

Maximum Amount

Multiples of BDT 50,000/- & No upper ceiling

Tenor

(As approved by ALCO (Changeable from time to time))

MUDARABA MONTHLY PROFIT DEPOSIT SCHEME (NGB MMPDS)

Product Name

NGB Mudaraba Monthly Profit Deposit Scheme (NGB MMPDS)

Account Type

Term Deposit Account with monthly profit payment

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.

Eligibility

·Any Citizen of Bangladesh/legally approved person/entity

·Minimum age 18 years(Minor also allowed)

·Must have current or savings account with NRBGBL.

Purpose

Mudaraba Monthly Profit Deposit Scheme is a term deposit product and offers monthly return on depositor’s fixed deposit over a certain period of time.

Minimum Amount

BDT 5000/-

Tenor

6,12,36 months.

MUDARABA WAQF CASH DEPOSIT ACCOUNT (NGB MWCDA)

Product Name

NGB Mudaraba Waqf Cash Deposit Account (NGB MWCDA)

Account Type

Term Deposit of Perpetual Nature

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.

Eligibility

·Any Citizen of Bangladesh/legally approved person/entity

·Minimum age 18 years(Minor also allowed)

·Must have current or savings account with NRBGBL.

Purpose

Perpetual Nature Deposit for Social Welfare.

Profit will be distributed as and when instructed by the Depositor

Minimum Amount

BDT 5000/-

Tenor

Perpetual

Mudaraba DPS Account (NGB MDPS)

Product Name

NGB Mudaraba DPS Account (NGB MDPS)

Account Type

Recurring Deposit

Eligibility

NGB Savings/ NGB current Account Holders/Any Bangladeshi citizen/Legally approved person without having any Deposit account with NGB.

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 DPS account opening form along with NGB CASA accounts documentation as and when required.

updated Tin(Optional)

Minimum Monthly

installment

BDT 100.00

Upper Limit

BDT 100.00, 200.00, 300.00, 400.00, 500.00 or any multiple of BDT 500 i.e. 500, 1000, 1500 etc. & upper limit is BDT 25,000/-

Monthly Contribution

Collection Method

Demand will be generated on the transactional account in the monthly installment collection due date- Then system will transfer the installment amount to DPS Account.

The account may be opened at any date of the month and subsequent installment will be realized on the same date of the every month (in case of holiday, the immediate next banking day.)

Tenure

 Any tenure from 3, 5, 8 and 10 Years

Mudaraba Lakhpoti Deposit Scheme (NGB MLDS)

Product Name

NGB Mudaraba Lakhpoti Deposit Scheme (NGB MLDS)

Account Type

Recurring Deposit where the terminal amount on maturity shall be more or less BDT 1,00,000.00 (Approximately)

Eligibility

NGB Savings/ NGB Current Account Holders/ Any Bangladeshi citizen (Age 18+) without having any Deposit account with NGB.

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

Account Introduction & KYC

As per Policy & Circulars of Bangladesh Bank

Initial Payment

Initial Payment of BDT 1,000.00, If initial Payment imposes then instalment payment will be revised

Tenure

Any Tenure from 3, 5, 10, 15 years

Mudaraba MILLIONAIRE Deposit Scheme (NGB MMDS)

Product Name

NGB Mudaraba Millionaire Deposit Scheme (NGB MMDS)

Account Type

Recurring Deposit where the terminal amount on maturity shall be more or less BDT 10,00,000.00 (Approximately)

Eligibility

NGB Savings/ NGB Current Account Holders/ Any Bangladeshi citizen (Age 18+) without having any Deposit account with NGB.

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

Account Introduction & KYC

As per Policy & Circulars of Bangladesh Bank

Initial Payment

Initial Payment of BDT 10,000.00, If initial Payment imposes then instalment payment will be revised

Tenure

Any Tenure from 3, 5, 10, 15 years

Mudaraba Kotipoti Deposit Scheme (NGB MKDS)

Product Name

NGB Mudaraba Kotipoti Deposit Scheme (NGB MKDS)

Account Type

Recurring Deposit where the terminal amount on maturity shall be more or less BDT 1,00,00,000.00 (Approximately)

Eligibility

NGB Savings/ NGB Current Account Holders/ Any Bangladeshi citizen (Age 18+) without having any Deposit account with NGB.

Islamic Principle

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

Provisional Profit Rate

As approved by ALCO (Changeable from time to time)

Final/Actual Profit

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

Currency

BDT

Account Introduction & KYC

As per Policy & Circulars of Bangladesh Bank

Initial Payment

Initial Payment of BDT 100,000.00, If initial Payment imposes then instalment payment will be revised

Tenure

Any Tenure from 3, 5, 10, 15 years

MUDARABA HAJJ SAVINGS ACCOUNT (NGB MHSA)

Product Type

NGB Mudaraba Hajj Savings Account (NGB MHSA)

Type of account

Recurring Deposit.

Customer Type/Eligibility 

NGB Mudaraba Savings/ NGB Al-Wadeeah Current Account Holders/ Any Citizen of Bangladesh/Legally approved person

Minimum Age 18 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.

Currency

BDT.

Identification document

Complete MHSA account opening form along with NGB DPS accounts documentation as and when required.

Updated TIN (Optional).

Minimum Monthly Installment

BDT 500/-

Upper Limit

Any multiple of BDT 500/- up to BDT 25,000/-

Tenor

From 1 to 25 years.

Mudaraba Higher Education Scheme (NGB MHES)

Product Name

NGB Mudaraba Higher Education Scheme (NGB MHES)

Account Type

Recurring Deposit

Eligibility

NGB Savings/ NGB Current Account Holders/ Any Bangladeshi students or their natural/legal guardian without having any Deposit account with NGB.

Islamic Principle

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

Provisional Profit Rate

As approved by ALCO (Changeable from time to time)

Final/Actual Profit

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

Currency

BDT

Identification document

Complete account opening form along with NGB CASA Accounts documentation as and when required.

Updated TIN (Optional)

Minimum Monthly Installment

BDT 500

Upper Limit

Any multiple amount of BDT 500 i.e. 500, 1000, 1500 etc.  & upper limit is BDT 25,000/-

Account Introduction & KYC

As per Policy & Circulars of Bangladesh Bank

Tenure

Any Tenure from 3, 5, 8, 10 years

Mudaraba SWADESH ACCOUNT (NGB MSWA)

Product Name

NGB Mudaraba SWADESH Account (NGB MSWA)

Account Type

A Tier Based Savings Account for NRB’s

Eligibility

Any Bangladeshi passport holder who is living outside Bangladesh for at least six months and working there with a valid work permit/resident visa.

Any Bangladeshi living outside Bangladesh holding foreign passport (migrated) or having dual citizen or born & living abroad but is of Bangladeshi origin and legally working there.

Islamic Principle

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

Provisional Profit Rate

As approved by ALCO (Changeable from time to time)

Final/Actual Profit

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

Currency

BDT

Identification document

Copy of passport along with valid visa (In case of foreign passport customer needs to provide the copy of “No visa required traveling to Bangladesh” page

Proof of Employment/income— (Not mandatory)

One copy passport size photograph of account holder

One copy passport size photograph of the Nominee which must be attested on the back by the Account holder

Proof of Address (applicable for overseas address only)

Minimum Initial Amount

Minimum BDT1,00.00 during account opening (if customer visits our branches)

Account can be opened with NIL balance (without any further approval) but in that case Debit Card will be issued only after crediting the minimum deposit amount his/her birthplace is in abroad)

Account Introduction & KYC

As per Policy & Circulars of Bangladesh Bank