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EXIM MIHNAT - Mudaraba Mihnat Monthly Savings Deposit Scheme:
Terms & Conditions of the Scheme
Any working people of labour-class (individually or jointly) having sound mind can open one or more Mudaraba Mihnat Monthly Savings Deposit Scheme in the same name with any branch of the bank with monthly installment of Tk. 100 only and its multiple but not more than Tk.2500 only.
Account can be opened in the name of a minor under operation of a guardian.
The account will be operated as per Mudaraba Principles.
One or more account can be opened in the same name at the same branch of the bank.
Account can be opened in any banking day of the month. But the subsequent installments shall become due for deposit on day the account was opened/the next working day if that day be a holiday.
Depositor will have a Mudaraba Mihnat Savings Deposit account which can be opened depositing minimum Tk.10.00 only and will give standing instruction to the bank to transfer regular installment from his/her account maintained with the branch.
The depositors shall have the options to deposit monthly installment gradually over the month in his/her Mudaraba Mihnat Savings Deposit Account.
In case of nonpayment of installment timely, the account will not get the expected benefit.
In case of unexpected situation
In case of death of account holder(s), the nominee(s) may continue the account till maturity.
If the depositor fails to deposit 05 (five) 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. However, the depositor may be allowed to continue the account till maturity by depositing the arrear installments with due approval from the competent authority.
Premature encashment of the Scheme
1. Normally, deposited amount of Mudaraba Mihnat Monthly Savings Deposit Scheme 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:
a. Profit shall be allowed on daily product basis at the prevailing provisional rate of Mudaraba Mihnat Savings Deposit if it is encashed before 01 (one) month.
b. If it is encashed after 01 (one) month but before 03 (three) years profit shall be allowed at the prevailing provisional rate for 01 (one) month of Mudaraba Term Deposit.
c. If the account is encashed after completion of any tenure but before maturity, depositor(s) will be entitled to receive full benefit for the completed tenure at the prevailing provisional rate of profit prescribed for this scheme. For remaining period, depositor(s) will receive benefit at the prevailing provisional rate of profit prescribed for 01 (one) month of Mudaraba Term Deposit.
Investment facility under the Scheme
The depositor (except minor) can avail investment facility upto 90% of deposited amount after completion of 02 (two) years subject to application of normal terms & conditions of investment of the bank.
If the depositor expires after availing a investment facility, the balance of the account will be paid to the nominee/heir(s) after making full adjustment of the Investment facility with accrued profit and other charges, if any.
Achievement from the scheme
Two copies of recent passport size photographs of account holder attested by the introducer.
One copy passport size photograph of nominee attested by the account holder.
Copy of Passport/National ID Card/Word Commissioner's Certificate of the account holder acceptable to the bank.
Other conditions of the product:
No cheque book will be issued under the scheme.
If there occurs any loss in the business, the same to be borne by the Saheb-Al-Maal.
The laws, rules & regulations of Bangladesh, custom & procedures applicable to the scheduled bank in Bangladesh shall apply to and govern the conduct of the account opened with bank.
Though the Bank maintains strict confidentiality in all affairs of the account, Bank shall always be entitled to disclose any information regarding customers' account(s) held with the Bank to any of the followings:
i. Any regulatory, supervisory, governmental or quasi governmental authority with the jurisdiction over the bank.
ii. Any person to whom the bank is required or authorized by law or court order to make disclosure.
Any change of the information furnished by the customer herewith must be notified to the bank immediately, otherwise the bank will not be liable for the consequences.
The customer agrees that the bank will not be liable for any loss or any damage if the bank is unable to provide services in connection with any customer's accounts due to postal, courier, electrical, mechanical, telecommunications or by reason of act of god, catastrophe, war, civil or industrial disturbance, computer failure or any other cause beyond Bank's control and that cannot be overcome by reasonable diligence and without unusual expenses.
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/Taxes/Excise Duty or other charges (if applicable) to be deducted from the account as per prevailing rules of competent authority (ies).
Bank reserves right to change/amend/alter/modify the weightage, profit distribution principles or any of the rules of the scheme from time to time as per Bank's standard & policy.

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