Mudarabah Cash Waqf Deposit

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Mudarabah Cash Waqf Deposit

Human life is fleeting. It is a short period. After it a life will start which is endless. We generally  keep ourselves busy for well being of this materialistic life forgot about the life of here after. To ensure wellbeing in the life after death it is way to spend money in the cause of Almighty Allah. Allah says in the holly Quran ‘Spend the properties bestowed upon you by me before the death meets you. Mudarabah Cash Waqf Deposit (MCWD) is an opportunity to obtain long lasting wellbeing in the life of here after.

In this type of account deposit once made cannot be withdrawn. Profit paid on this deposit is spent according to the instruction of the depositor, such as Social Welfare, Isamic Education, Proverty Alleviation, Health Service etc.

Key Features

  • Any adult Bangladeshi citizen can open this account.
  • Amount may be deposited once or by installment.
  • Bank issue a certificate of deposit to the client.
  • In life time client may draw the profit and use it as he desires but after his death bank utilize the profit as per clients instruction.
  • Deposit of this account is not refundable.
  • Principal amount remains unchanged for all times to come.
  • Profit is applied considering weightage at higher side.

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