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Mudaraba Term Deposit Receipt (MTDR) account is opened under the Mudaraba (Profit Sharing) principal of Islami Shariah. Under the above principal the clients known as Shaheb-Al Mal provides 100 percent of the capital and the Bank known as Mudarib is the one providing its specialist knowledge to invest the capital and manage the investment project. It is issued by our Bank branches against deposit of certain amount of money by customer(s)/person(s)/organisation, after observing the rules of Anti Money laundering, for a fixed period but not less than one month with a commitment to return his/their deposited money with more or less certain percentage of profit (Tax applicable) after expiry of the period. The minimum amount of MTDR, rate, renewal procedure and premature encashment rules determined & circulate by our Head Office from time to time. These deposits are repayable subject to a period of notice and hence known as time deposit or time liabilities meaning thereby that these are withdraw able subject to a period of notice and not on demand.
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Security Feature
