Fund which is deposited with banks by the depositors with clear permission to utilize/invest the same is called Al-Wadeeah. Islamic banks receive deposits in Current Accounts on the basis of this Al-Wadeeah principle. Islamic banks obtain permission from the Al-Wadeeah depositors to utilize the funds at its own responsibility and the depositors would not share any profit or loss earned/incurred out of using of this funds by the bank. The banks have to pay back the deposits received on the principle of Al-Wadeeah on demand of the holders.
- Institution and individual are eligible to open this account
- Minimum opening balance is Tk. 5,000/- while Tk. 5,000/- requires Keeping the account running.
- No profit or loss is calculated.
- Depositor enjoys right to draw any amount on demand.
- The depositors have to pay govt. taxes and other charges, if any.
Privilege of the Customer
- Cheque book facility
- Pay Order, T.T, D.D facility
- Fund transfer facility from Islami banking Branch to any other branches of the bank
- Cost free half-yearly and yearly account statement and balance confirmation certificate
- Locker service facility