Mudaraba Special Notice Deposit (MSND) is a profit bearing Mudaraba deposit suitable for frequent business transactions. It is a kind of Current Account which incurs profit.

Features:

• This deposit product is guided by the Mudaraba principles of Islamic Shariah
• Profit bearing but like Current Account
• Until otherwise decided, the profit-sharing ratio is 35:65 between IFIC & the depositor in SND.
• Unlimited transactions
• Cheque Book facility
• Country’s largest banking network for banking Service
• SMS notification & query service
• 24/7 Contact Center support
• Fees and Charges as per Schedule of Charges will be realized twice a year.
• Separate charges applicable for debit card and SMS service subscription
• Excise duty may be realized as per Govt rules and regulations

Eligibility:

• Any Business entity/Farm/Company/Organization etc. operating in Bangladesh
• Any Bangladeshi citizen with minimum age 18 years
• Minimum balance for account opening: Tk.25,000/-

Required Documents:

• Trade License for business enterprise
• TIN Certificate
• 2 copy of recent passport size photo for each signatory
• NID/ Valid Passport/Driving License
• Nominee’s NID & photo (attested by applicant)
• Recent utility bill (electricity/gas/WASA/telephone)

*Bank may ask for any other additional document (if required)