Mudaraba Special Savings (Pension) Account

Islami Bank Bangladesh Limited, in keeping with its welfare-oriented ideals based on Shariah Principles, has developed a deposit pension scheme named "Mudaraba Special Savings (Pension) Scheme", in order to mobilise and encourage the middle and lower middle class professional and service holders to save as per their capacity for their old age when they will normally retire from their active service life who otherwise do not like to keep and invest their savings and funds in interest bearing deposit pension schemes. Due to lack of or limited scope for savings and investment in non-interest bearing schemes, most of these individuals either consume their savings/funds or spend the same in unproductive expenditures. Thus a substantial amount of Savings/funds remain out of the production cycle.

National Board of Revenue (NBR) may be approached for exemption of excise duty and tax on the profits earned in the account and to treat the deposit under the scheme as investment allowance as provided under income tax rules since similar schemes of NCB's enjoy such exemptions.

Tk. 100/-, Tk. 200/-, Tk. 300/-, Tk. 400/-, Tk. 500/-, Tk. 1000/-, Tk. 1500/-, Tk. 2500/- and Tk. 5000/- only.

05 years
10 years