Islami Bank Bangladesh Limited has launched a new deposit scheme for school student titled “Mudaraba school student savings scheme” with the slogan of “Write, read and make savings”, says a press release. This scheme was launched to promote the habit of savings and planned expenditure among school students. This scheme will enable to raise fund for higher education and economic solvency for students.

Students under 18 years of age studying in Bangladesh can open account under this scheme. The initial balance of this account is Tk 100 and profit will be given on this balance.

Customers can deposit and withdraw money through online branches all over the country. Money can be withdrawn through ATM booths also.
Balance may be known through mobile SMS.

Account can be transferred to any branch of the Bank and no charge will be taken for closing the account.

This account will be run by bonafide guardians with the name of students. Students will be able to continue this account after maturity as “Mudaraba Savings Account”.

The certificate of school headmaster or school authority, two attested photographs of students and guardians and attested photographs of nominee is required to open this account.

It is mentionable that top ten depositors for every month will be awarded.

The Daily Independent/Bangladesh/ 8th Jan 2012