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Islami Bank’s Mudaraba Hajj and Umrah Savings Scheme
Fulfilling Dreams Through Savings
Hajj
Islami Bank Bangladesh PLC offers Mudaraba Hajj Savings Account and Mudaraba Umrah Savings Scheme to support individuals aspiring to perform Hajj and Umrah as a part of long-term financial planning. These schemes assist customers in saving systematically to ensure financial and mental preparedness for a smooth pilgrimage experience.
These savings accounts enable customers to take advance preparations to cover various expenses related to Hajj and Umrah, such as visa fees, airfare, accommodation, food and other associated costs.
Individuals intending to perform Hajj can open the Mudaraba Hajj Savings Account for a period ranging from one to twenty-five years, based on their financial capacity and planning. This account offers the highest profit rates under the Mudaraba system. Customers can determine the monthly installment amount according to their chosen tenure that makes it easier to save for Hajj. If a depositor wishes to perform Hajj before the predetermined tenure, they can do so by depositing the remaining amount required for that year’s Hajj expenses along with the savings accumulated in their Mudaraba Hajj Savings Account.
Similarly, those interested in performing Umrah can save through monthly installments over a term of 1-12 years, depending on their financial plan and capability. Individuals aged 18 and above can open this account in their own name, while parents or legal guardians can open accounts on behalf of minors.
Profit is provided under Mudaraba system to this account as well.
Both these accounts can be opened at any branch, sub-branch or agent outlet of Islami Bank. Applicants need to submit two attested passport-size photographs (one of the account holder and one of the nominee), along with a copy of their National ID or passport to open this account. Customers can also open these accounts at home using bank’s CellFin app.
There’s no hassle in paying monthly installments. Customers can provide a “special instruction” to automatically transfer the installment amounts from their savings account to the Hajj or Umrah account. Alternatively, installments can be transferred using CellFin or i-Banking services. – Press release