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Basel –II Market Disclosure
Mudaraba Denmohor / Marriage Deposit Scheme
Mudaraba Denmohor/Marriage Deposit Scheme  is a contract between the depositor & EXIM Bank where the account will be governed by the Mudaraba Principles of Islami Shariah.
In this contract, the depositor will be termed as “Saheb-Al-Maal or owner of fund” and the Bank as “Mudarib or business organizer”.
An adult person having sound mind can open only one Mudaraba Denmohor Deposit Scheme account in his/her single name and multiple numbers of Mudaraba Marriage Deposit Scheme account in any single name at any branch of the bank with monthly installment as prescribed in clause 21 (twenty o) of this section.
Marriage account can be opened in the name of a minor and non-muslim too. In case of minor, account to be operated by a guardian.
The account holder must be Bangladeshi by birth.
To open Denmohor account by an unmarried male, account to be opened in his own name. In case of married male/female, account to be opened in the name of female. But the account may be operated by the male or any other operator.
The tenure of Mudaraba Denmohor/Marriage Deposit Scheme will be 3, 5, 8, 10, 12 and 20 years. The depositor will have the option to choose any tenure at the time of opening the account and it cannot be changed afterwards.
The account is transferable within the branches of the bank under special arrangement.
Account can be opened in any banking day of the month. But the subsequent installments to be deposited within the 10th day (incase of holiday next working day) of each month.
Account opened within 10th day of the month will be considered as opened in that particular month. If the account is opened after 10th day of the month, the account will be considered as opened in the following month.
If a depositor fails to deposit any installment in time, he/she will be penalized with 2.00% per month on outstanding installment amount and must pay the installment(s) due as well as penalized amount with the subsequent installment.
If the depositor fails to deposit 03 (three) consecutive installments at any point of time, it will cease the right of depositor to remain within the purview of the account and profit against balance of deposited amount will be allowed as per terms & conditions mentioned in the following clause (clause-13).
Normally, deposited amount of Mudaraba Denmohor/Marriage Deposit Scheme account is not encashable before maturity. If any depositor intends to encash his/her account before maturity due to certain unavoidable circumstances, the following terms & conditions will come into force:
  • No profit shall be allowed for premature encashment within 01 (one) year.
  • Profit shall be allowed at the provisional rate of Mudaraba Savings Deposit  if it is encashed after 01 (one) year but before maturity.
In case of death of account holder(s), the account shall cease to be operative and the entire deposited amount with profit (if applicable) shall be paid to the nominee(s) or the legal guardian of the nominee (minor) as per Bank’s prevailing rules & regulations. In other cases, the amount shall be released as per rules in force.
Advance payment for any number of installments will be received by the bank but profit will be allowed there-against considering the installment deposited for each succeeding month.
No cheque book will be issued under the scheme as the deposited amount of Mudaraba Denmohor/Marriage Deposit Scheme is not chequeable.
The depositor(s) under this scheme shall get maximum 65% of investment income or the percentage as the bank decides from time to time to their proportion of deposit.
Achievement from the scheme
If there occurs any loss in the business, the same to be borne by the Saheb-Al-Maal.
Before declaration of final rate of profit, monthly profit amount will be credited to the account as per provisional rate of profit offered by the bank from time to time. Profit under this scheme shall be adjusted annually i. e. after declaration of final rate of profit of the bank.
Expected amount of the account on maturity shall be paid to the account holder after one month from the date of depositing the final installment.
The account is transferable within the branches of the bank under special arrangement.
Depositor can give standing instruction to the bank to transfer regular installment from his/her account maintained with the branch provided that bank will realize Tk. 100.00 from the depositor’s account for one time in the tenure of account. In case of individual debit instruction, branch will realize Tk. 10.00 per instance from the depositor’s account.
Operation of this account will be guided by the Money Laundering Prevention Act-2012 and other terms & conditions as prescribed by the Bank from time to time.
VAT/Tax or other charges (if applicable) to be deducted from the account as per prevailing rules of competent authority(ies).
Any field and/or terms & conditions of Account Opening Form may be changed by the Management of the bank (if deems necessary) from time to time.
Expected amount of the Account on maturity will be calculated as per Rate Circular and an additional sheet showing the expected amount in tabular form to be attached with the Account Opening Form by putting initials of 02 (two) authorized officials. Account Holder(s) will sign on the sheet.