Mankind is the best creation of Allah. Allah has created all over the world for the welfare of mankind.
Allah is the best creator. Allah has sent Prophets with a proper guidebook to direct the mankind into righteous way, this is Islam.

AL NOOR Islami Banking

Islami Banking

Islami Banking has experienced a phenomenal growth and expansion in Bangladesh in the backdrop of strong public demand and supports for the system alongwith its gradually increasing popularity across the world. As a result, a number of full-fledged Islami Banks has been established, while a good number of Conventional Banks have come forward to offer services compliant with Islami Shari’ah through opening of Islami Banking Branches along with Conventional ones. There is also a trend of conversion of Conventional Banks into Islami Bank.


Objectives

The objectives of Islami Banks are to promote, foster and develop the application of Islami principles in the financial sector in such a manner that it helps achievement of the above objectives of the Islami Economy.

  • To establish Adl (justice), attain Hasanah (good) and Falah (welfare) in this life and the life hereafter.
  • To establish Ihsan (gracious conduct or kindness) in economic affairs.
  • To establish Ma’roof (proper or good acts, institutions) in economic life.
  • To eliminate Munkar (evil, wrong or injurious practice from economic life)
  • To free the humanity from un-wanted burdens and hackles and to make life easier for them.
  • To achieve maximum economic growth.
  • To maximize employment to ensure proper distribution of wealth in the society.
  • To achieve universal education.
  • To encourage cooperation in the Society.
  • To favoring the weaker sections of the society to establish them in life.


Difference Between Islami Banking and Conventional Banking

Sln Conventional Banking Islami Banking
01 The functions and operating modes of Conventional Banks are based on man-made principles. The functions and operating modes of Islami Banks are based on the principles of Islamic Shari’ah.
02 Lending money and getting it back with interest is the fundamental function of the Conventional Banks. Participation in partnership business & Asset based transactions is the fundamental function of the Islami Banks.
03 It can charge additional money (compound rate of interest) in case of default. The Islami Banks have no provision to charge any extra money from the defaulters & no Compounding in Capital.
04 Since income from the advances is fixed, it gives little importance to developing expertise in project appraisal and evaluations. Since it shares profit and loss, Islami Banks pay greater attention to developing project appraisal and evaluations.


OBL Al NOOR Islami Banking

Alhamdulillah, with great pleasure & shukria to Allah (Sub), ONE Bank Limited has started “Al NOOR Islami Banking Operations” with the objective to serve the Customers who prefer Islami Shari’ah-based Banking and committed to holistic belief alongwith Islami lifestyle. The brand name of ONE Bank Islami Banking is “Al NOOR”. To establish OBL Al Noor Islami Banking Operations through an introduction to diversified Investment Operations and deposit mobilizations to ensure equity and justice in all economic activities. Initially, OBL Al NOOR Islami Banking Operations is striving for inaugurating Two (02) full-fledged Islami Banking Branches in Gulshan, Dhaka and Agrabad, Chattogram. Islami Banking Operations will be operated parallel with the conventional Banking of OBL.

To ensure proper shari’ah compliance, in the meantime, a strong & competitive Shari’ah Supervisory Committee has since been constructed with the renowned Islamic Scholars, veteran experts & deep knowledge in Islami Economy, Banking & Finance, Jurisprudence and expert lawyer in Islami Baking Law. ONE Bank Limited will provide these services by separate Islami Banking Software. For distributing profit among the Mudaraba Depositors, the profit will be calculated on the basis of Income Sharing Ratio-ISR. Profit earned from investment is to be distributed among the depositors following Income Sharing Ratio-ISR system periodically & distributed profit to the Customers account can be converted into a rate each period which is final.

Initially the following Two (02) full-fledged Islami Banking branches will be opened and gradually it will be extended to the branches & windows all over the country through OBL’s Branch Network.

Gulshan Islami Banking Branch
Holdings # 97, Bir Uttam Mir Shawkat Sarak,
Gulshan Avenue, Gulshan
Dhaka-1212
Cell: 01313-799134

Agrabad Islami Banking Branch
HRC Bhaban (Ground Floor)
64-66, Agrabad Commercial Area
Chattogram - 4100
Cell: 01313-799135




Deposit Products

Al-Wadeeah Current Deposit Account
Nature of the Product:
Fund received by banks from the depositors/customers with clear permission to utilize/invest the same its own responsibility under obligation to return the entire money on demand by the customer as and when required. In this principle Islamic banks are treated as a keeper and trustee of funds as Al-Amana (on Trust). Islamic banks would not share any profit or loss earned/incurred out of using of this fund by the bank.

Key Features:
  • Institution and individual are eligible to open this account.
  • No withdrawal and deposit limit.
  • 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.
  • Cheque book facility.
  • Pay Order, e-statement facility, Standing Instruction, 24/7 Call Centre.
  • Tax, VAT, Excise Duty and other levy will be deducted at source as per Government declaration.
  • 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.

Mandatory documents:
  • Duly filled up account opening form.
  • Copy of valid Photo ID for Applicant & Nominee (such as Passport / National ID / Driving License etc).
  • Photocopy of Trade License/ MOA
  • Photograph of the applicant duly attested by the introducer.
  • Photograph of the nominee duly attested by the applicant.
  • Copy of e-TIN Certificate.
  • Resident address verification document (eg. Utility Bill).

Mudarabah Savings Deposit (MSD)
Nature of the Product:
Mudarabah Savings Deposit (MSD) Account is operated under the Mudarabah principles. It is a partnership contact between the Bank and the Client. The client provides fund and the bank does business complying the Shari’ah Principles. Earned profit distributed among the partners as per pre-agreed ratio and loss (if any) goes to the account of the depositor.

Key Features:
  • Individuals are preferred for this account.
  • Age minimum 18 years old, below 18 years account will be opened with legal guardian as a authorized signatory; it will be treated as a Minor account.
  • Profit bearing account.
  • Provisional Profit will be distributed on half yearly basis. Final profit is credited to the account after finalization of the Balance Sheet of the Bank.
  • Dual Currency Debit Card.
  • Full access to ONE Bank APP
  • Full access to Internet Banking.
  • Full access to OK Wallet (MFS)
  • Cheque book facility
  • Pay Order, e-statement facility, Standing Instruction, 24/7 Call Centre
  • Fund transfer facility through BEFTN, RTGS
  • Locker service facility
  • Tax, VAT, Excise Duty and other levy will be deducted at source as per Government declaration.
  • Online Banking Facility available for easy and convenient banking.

Mandatory documents for all:
  • Duly filled up account opening form.
  • Copy of valid Photo ID for Applicant & Nominee (such as Passport / National ID / Driving License etc).
  • Photograph of the applicant duly attested by the introducer.
  • Photograph of the nominee duly attested by the applicant.
  • Copy of e-TIN Certificate.
  • Resident address verification document (Utility Bill).

Mudarabah Short Notice Deposit (MSND) Account
Nature of the Product:
Mudarabah Short Notice Deposit (MSND) Account bears the combined character of Al-Wadeeah Current Account and Al-Mudaraba Savings Account. MSND account holder gets profit in this account and enjoys drawing facility. MSND account serves the purposes of those firms or individuals have handsome fund at the same time needs frequent deposit and withdrawal facility.

Key Features:
  • Institution and individual are eligible to open this account.
  • Profit is allowed.
  • Depositor enjoys right to draw any amount on demand.
  • Provisional Profit will be distributed on half yearly basis. Final profit is credited to the account after finalization of the Balance Sheet of the Bank.
  • Dual Currency Debit Card.
  • Full access to ONE Bank APP & Internet Banking.
  • Cheque book facility.
  • Pay Order, e-statement facility, Standing Instruction, 24/7 Call Centre.
  • Fund transfer facility through BEFTN, RTGS.
  • Locker service facility.
  • Tax, VAT, Excise Duty and other levy will be deducted at source as per Government declaration.
  • Online Banking Facility available for easy and convenient banking for Client’s.

Mudarabah Term Deposit
Nature of the Product:
Mudarabah Mudaraba Term Deposit (MTD) is a profit sharing product. The bank receives deposit on Mudarabah principle and invests it in Halal (permissible in Isalmic Shariah) business. Profit is shared as per pre-agreed ratio and loss if any, goes to the account of the depositor.

Key Features:
  • Deposit tenor is 1, 3, 6, 12, and 24 months.
  • Premature encashment is allowed with due profit reduction.
  • Quard & Murabaha Investment facility against MTD is available.
  • Profit Sharing & Loss Bearing.
  • Auto- Renewal Facility.

Mudaraba Deposit Pension Scheme (MDPS)
Nature of the Product:
Planed savings in the job life brings financial security and peace of mind in the retired life. Many of those presently engaged in job, trade and business, other professions and earn limited perquisite, suffer financial constraint in the retired life. For bringing smile in the life of these peoples AL NOOR OBL Islami Banking Branches has introduced Mudaraba Pension Deposit (MPD) Scheme. Deposit is received here on monthly basis and profit is paid on yearly basis.

Key Features:
  • Any adult Bangladeshi citizen can open this account.
  • Account may also be opened in the name of minors.
  • One or more account may be opened in a single name.
  • Non-resident Bangladeshies also can open this account.
  • Tenor of the deposit is 3, 5, 8, 10, 12 and 15 years.
  • Profit is applied considering weightage at higher side.
  • After maturity total amount with profit can be drawn at a time or on installment basis in pension for a certain period.
  • No Closing fee/No Early Closing fee

Mudaraba School Banking Account
Nature of the Product:
Mudaraba School Banking Account is a Savings Deposit Account opened under the Mudaraba principle of Islamic Shari’ah. Mudaraba School Banking Deposit accounts are mainly meant for school going children who have some potential savings with small number of transactions asking place. This account is to be treated as “Minor Account”.

Key Features:
  • Minimum opening balance is BDT 100.00
  • Account Maintenance Fee is Free
  • Cheque Book will not be applicable for this account.
  • VISA Embedded Debit Card will be issued in the name of Student/ Children.
  • Withdrawal limit is ATM & POS – BDT 2,000.00 (Daily) May be extended to BDT 5,000.00 upon guardian’s written request
  • Debit Card Issuance/Replacement/Pin reissue/ Renewal Charges is Free

Requirements for opening:
  • Passport size photograph (Student – 2 copies & Nominee – 1 copy)
  • Account holder’s birth certificate.
  • ID card of the educational institute.
  • Reference letter from the institute.
  • Attested copy of the last month tuition fee.
  • Photocopy of Parents National ID/Passport.
  • Duly filled KYC form for both student and guardians individually.
  • Both the student and guardian must be Bangladeshi citizen.

Mudarabah Monthly Income Deposit Scheme
Nature of the Product:
Depositors who need monthly return on deposit such as Retired Service Holders, Idle Fund Holders who have no scope to invest in business are entertained in this scheme. Different organization/firms can also open MMIDS account. The depositor avail profit at the end of month at the provisional rate. Provisional profit is adjusted after declaring final rate to depositors account.

Key Features:
  • The client has to open a link account to transfer profit.
  • Tenor of deposit is 1, 3 & 5 years.
  • Premature encashment is allowed with due reduction of profit.
  • Auto- Renewal Facility

AL NOOR Mudaraba Ratib Payroll Account
Nature of the Product:
AL NOOR Mudaraba Ratib Payroll Account is a benefit-rich Mudaraba Savings Account in Taka for a salaried employee. This is a salary account in which the employer will credit / remit the salary of their employees on pay day at regular basis during the service period with the employer.

Key Features:
  • A standard Mudaraba Savings Account with debit card and cheque book.
  • Free Internet Banking & SMS Banking.
  • Reduced Maintenance Fee.
  • First Cheque Book Free.

Requirements for opening:
  • Photograph of Account Holder – 02 (Two) copies
  • Photocopy of Valid NID / Passport / Driving License
  • Photograph of Nominee – 1 copy
  • Photocopy of Valid NID/Passport/Driving License of Nominee
  • Copy of Utility Bill
  • Photocopy of Employee ID
  • Salary Certificate / Pay Slip

Mudarabah Hajj Deposit
Hajj is one of the five pillars of Islam. It is compulsory for capable Muslim men and women to perform the Holly Hajj at least once in lifetime. It needs big amount of money to perform the job. It is too hard for the limited earning peoples to manage so big amount at a time. Our Mudaraba Hajj Deposit (MHD) Scheme has opened a close door for them. In this scheme the depositor may open an account for a period between 1-15 years. Installment size is fixed forecasting the amount may be needed at the end of the tenor.

Key Features:
  • Any adult Bangladeshi citizen can open this account.
  • Account may also be opened in the name of minors.
  • One or more account may be opened in a single name.
  • Non-resident Bangladeshis also can open this account.
  • Profit is applied considering Income Sharing Ratio (ISR) at higher side.
  • After maturity total amount with profit can be drawn at a time for performing Hajj. If closing amount does not serve Hajj expenditure, the client will manage the deficit amount.

Mudaraba Imraah Monthly Savings Scheme
Nature of the Product:
“Mudaraba Imarrah Monthly Savings Scheme” is a designed by OBL (Islamic Banking Operations) for help the female employees of all races & communities maximization their wealth by providing remarkable return of their savings.

Key Features:
  • No cheque book will be issued under the scheme.
  • The savings period is for 3,5,8,10 & 12 years.
  • Monthly installment is Tk. 200.00 and multiple of Tk. 500.00.
  • The savings amount is to be deposited within the 10th of every month. In case of holidays the deposit amount is to be made on the following day.
  • The deposits may also be made in advance.
  • The depositor can have a separate account in the bank from which a standing instruction can be given to transfer the monthly deposit to the scheme account.

Mudaraba Waqf Cash Account
Nature of the Product:
Waqf Cash provides a unique opportunity for making investment in different charity activities related to religious, educational and social services. Savings made from earning by the well off and the rich people of the society can be utilized in our organized manner. Income earned from these funds will be spent for different charitable purposes mostly administered under the waqf estate/properties authority itself.

By opening a Mudaraba Waqf Cash Deposit Account someone can get an opportunity to do welfare to the mankind through Sadaqa-e-Jariah ((صَدَقَةُ جَارِيَةُ ONE Bank Limited urges to all religious & affluent persons of the society to come forward to mobilize Waqf Cash Deposit so that the profit may be utilized for the wellbeing of mankind

Product Type:
  1. Mudaraba Term Deposit (Auto Renewal) &
  2. Mudaraba Savings Account
Account Types:
  1. Specific Account (MTD/MSA) i.e. Account in the name of individual(s) or organization(s)
  2. General Account (MSA) i.e. A Single Account multiple depositors
Key Features:
  1. Both individual and organizations. In case of individual the account can be opened for deceased person by his/her heirs, In the following manner,
Mudaraba Waqf Cash Deposit Account:
  • A person or organization can open this account with an initial deposit of Tk.5000.00 with a declaring of total Waqf amount.
  • Account can be opened in joint name and can be operated Singly/Jointly/Either or Survivor.
  • Title of the account can be different from Account holder/ Waqif/ Fund Provider. This account can be opened in the name of a deceased person also. In that case Account holder/ Waqif/ Fund Provider will sign the AOF and operate the account. Organization can also open this account.
Mudaraba Waqf Cash General Account:
  1. This is a collection account opened by the Bank in Islami Banking Branches to collect waqf deposits from various customer segments (persons / organizations).
  2. Income Sharing Ration between Client and Bank is 62:38, provisional profit rate will set by the bank at the time of booking.
  3. Profit will be calculated on Day End Balance, Profit will be liquidated at Monthly in MWCA product. But beneficiaries' accounts will be credited as per instruction of Waqif (Account Holder) i.e. Monthly, Quarterly, Half-yearly or Yearly basis.

Mudaraba Millionaire Scheme
Nature of the Product:
Mudaraba Millionaire Scheme is an installment based deposit scheme for deposit purpose to build up a sizable fund equivalent to a Million of Taka after the contracted period including Principle plus Profit before deduction of tax on Profit.

Key Features:
  • Halal way or without Riba (profit or usury) transaction
  • Attractive provisional rate of profit.
  • No cheque book will be issued under the scheme.
  • The savings period is for 3, 5, 8, 10 & 12 years.
  • Bank reserves the right to change the weight age of deposit and percentage of distribution of Investment Income.
  • The savings amount is to be deposited within the 10th of every month. In case of holidays the deposit amount is to be made on the following day.
  • 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.
  • The depositor can have a separate account in the bank from which a standing instruction can be given to transfer the monthly deposit to the scheme account.
  • The depositor (except minor) can avail investment facility upto 90% of deposited amount after completion of 01 (one) year subject to application of normal terms & conditions of investment the Bank.
Product Specific Rules & Regulations:
  • Profit shall be calculated on daily balance of deposit but applied once in a year i.e. at the end of the year.
  • 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 for premature encashment.
  • In case of death of account holder(s), the account will be in-operative and the entire deposited amount with profit (if applicable) shall be paid to the nominee or the legal guardian of minor nominee(s) as mentioned in the account opening form. If the nominee is minor, the same shall be paid to the legal guardian of the minor. In other cases, the amount shall be released as per rules in force.
  • Bank reserves right to change/amend/alter/modify the Income Sharing Ratio (ISR), profit distribution principles or any of the rules of the scheme from time to time as per Bank's standard & policy.
General Conditions for Mudaraba Deposit Accounts:
  1. The law, rules and regulations of Bangladesh, usual customs and procedures common to Banks in Bangladesh will apply to and govern the conducts of the account opened with the Bank.
  2. Any person opening an account will be deemed to have read, understood and accepted the rules governing the account.
  3. Commissions/service or maintenance of account charges will be levied by the Bank as determined by the Bank from time to time and as per Bangladesh Bank regulation.
  4. The Bank reserves the right to close any account without giving prior notice if the conduct of the account is unsatisfactory in the opinion of the Bank or for any other reason(s) whatsoever.
  5. As required by law, while opening this account we will satisfy ourselves about the identity, including verification of address, of person(s) or entity seeking to open an account, to assist in protecting the prospective customer/s, members of the public and ourselves against fraud and other misuses of the banking system.
  6. The manner of calculation of profit is based on Income Sharing Ratio (ISR) principle though a Provisional Profit rate will be declared at the time of booking. At the end of the year final rates shall be declared & necessary adjustment shall be done.
  7. At the time of booking a deposit, explicit maturity instructions are sought from the customer i.e. Credit to linked account or auto renewal on maturity.
  8. In the absence of specific instructions from the customer, a Mudaraba Term Deposit on maturity is automatically renewed for the same period at the rate of profit prevailing on the date of maturity. As a measure of good customer service, the Bank may intimate the depositor in advance regarding date of maturity.
  9. Profit on overdue deposit is paid at a rate equivalent to the profit applicable on Savings account deposits prevailing from time to time during the period from the date when deposit has become overdue till the date of payment. This is, decided by the Bank from time to time.
  10. Govt.income tax, Excise duty etc. will be deducted as per regulations.
  11. Comprehensive Terms and Conditions, for all relevant Current, Savings guidelines & local regulations, are available with our branches as the website.

Asset / Investment Products

AL NOOR Home Investment Scheme
Nature of the Product:
Al NOOR Home Investment Scheme is a terminating facility Equated Monthly Installment (EMI based) for house financing purpose which is operated as per Hire Purchase under Shirkatul Melk (HPSM) mode of Islamic financing.

Key Features:
  • Financing for buying new or old house/flat for own/family living or for renting out. [In case of buying old house / flat it will not be older than 15 years.]
  • To construct/extend of house/apartment.
  • To renovate/alteration/Interior Decoration of existing house/flat.
  • Taking over the existing House Finance facility from other Financial Institutions which is being permissible under Islamic Shariah.
  • Investment up to 2.00 crore (Minimum 5.00 lac) or as directed by Bangladesh Bank.
  • Maximum Tenure up to 25 Years.
  • Rate of Rent will be determined and updated when required by the Bank as per Bangladesh Bank Regulation and Instruction.
  • Rent will be charged as per Reducing Balance Method.

Bankers' Obligations/ Customers' Obligations:
  • Purchase, Construction, Renovation and/or Refurbishing of Apartment/Flat.
  • Purchase individual house, multistoried residential building for own/family living or for renting out.
  • Financing Registration Cost of procured residential properties.
  • Settlement of personal debt incurred during construction or buying of the property.
  • Other purposes approved by Bangladesh Bank and other govt. authorities under this scheme from time to time.
  • This investment cannot be taken for purchase of any property prohibited by Bangladesh Bank and other govt. authorities under this scheme from time to time.
  • Approved plan of the building should not be older than 20 years at the time of financing.
  • Moratorium Period: Maximum 12 months.
  • Maximum debt equity ratio: 70:30 (Bank : Client) or Prescribed by Bangladesh Bank from time to time .
  • 2% of the approved limit (Min. Tk. 2,000/-). No processing fee for OBL employee. [As per schedule of charges from time to time].
  • Early Adjustment & Partial Adjustment is allowed any time without any types of Fee/Charges.

AL NOOR Car Investment Scheme
AL NOOR Car Investment Scheme (ANCIS) is a terminating financing facility based on Hire Purchase under Shirkatul Melk (HPSM) where both customer and the bank have joint ownership of the vehicle.

Key Features:
  • Financing for buying new or Reconditioned Vehicles (Private Car, Microbus, Jeep)
  • Investment up to 40.00 Lac (maximum 50% of the quoted value of the car )
  • For Full Cash Covered Investment: Maximum 90% of Cash Security [i.e. OBL Term Deposit/Deposit Scheme/WEBD/Govt. Bonds etc).
  • Maximum Tenure up to 05 Years for Brand new Car & 04 Years for Reconditioned car.
  • Rent will be charged as per Reducing Balance Method.

Bankers' Obligations/ Customers' Obligations:
  • Purchase of brand new and reconditioned vehicle for personal use only.
  • Vehicle should not be older than 5 years or decided by Bangladesh Bank from time to time.
  • Age Minimum 21 years Maximum 60 years or retirement age whichever is earlier at the investment maturity date. However, applicant having age over 60 may apply jointly with spouse, son daughter etc.
  • Maximum debt equity ratio: 50:50 (Bank : Client) or Prescribed by Bangladesh Bank from time to time .
  • Early Adjustment & Partial Adjustment is allowed any time without any types of Fee/Charges.
  • 2% of the approved limit (Min. Tk. 2,000/-). No processing fee for OBL employee. [As per schedule of charges from time to time].

AL NOOR Household Investment Scheme
AL NOOR Household Investment Scheme (ANHIS) is a terminating financing facility under the Bai-Murabaha Principle for any Shariah compliant purpose. Under this facility, a commodity is sold for a deferred price which includes an agreed profit added to the cost. This financial facility is specially designed to meet the needs of our day to day life which is fully Shariah compliant.

Key Features:
  • Financing for following purpose permitted under Islamic Shariah.
    • Purchase of miscellaneous household appliances.
    • Purchase of furniture.
    • Purchase of House renovation items.
    • Purchase of Personal Computers.
    • Purchase of Interior Decoration items.
    • Other legitimate purposes.
  • Investment up to 15.00 Lac.
  • Maximum Tenure up to 05 Years.
  • Rent will be charged as per Reducing Balance Method.

Bankers' Obligations/ Customers' Obligations:
  • This Investment cannot be taken for business purposes like working capital requirement and industrial machinery purchases, etc. But self employed professionals, who performs private practices can avail this investment to buy their office equipments, machines, and accessories related to their professions.
  • Maximum debt equity ratio: 30:70 (Bank : Client) or Prescribed by Bangladesh Bank from time to time .
  • Early Adjustment & Partial Adjustment is allowed any time without any types of Fee/Charges.
  • 2% of the approved limit (Min. Tk. 2,000/-) No processing fee for OBL employee. [As per schedule of charges from time to time].

AL NOOR Investment Scheme for Professionals
AL NOOR Scheme for Professionals (ANSP) is an Equal Monthly Installment (EMI) based Investment facility for professionals like Doctors, Accountants, Engineers, and Architects and other professionals involved in self-practice or consulting under the Islamic Shariah.

Key Features:
  • Financing for buying items to support professional needs of the following professional,
    • Doctors or Medical professionals.
    • Engineers.
    • Chartered Accountants.
    • Architects
    • IT professionals.
    • Other self employed persons.
  • Investment under Murabaha (Term)/HHPS Hire Purchase under Shirkatul Melk (HPSM) principle.
  • Investment up to 20.00 Lac
  • Maximum Tenure up to 05 Years
  • Rent will be charged as per Reducing Balance Method.

Bankers' Obligations/ Customers' Obligations:
  • For purchasing different professional equipments, tools, small machineries for installation at their chambers, clinics and/or hospitals to support the professional needs of the doctors or for any professional equipment for selective professionals or to renovate / decorate professional chambers.

AL NOOR Cash Withdrawal (Quard) against Mudaraba Deposit
The word “Quard” ’ قرض is derived from Arabic “Qirad” which means ‘to cut’. It is called “Quard”, as it cuts certain part of the lender’s property by giving Loan to the borrower. Cash Withdrawal (Quard) refers to an Interest‐free Loan intended to help a person who is in dire need of cash. To meet emergency cash need / requirement legitimate (Halal) by Shariah.

Key Features:
  • Cash loan facility (legitimate by Shariah) to meet emergency cash need / requirement.
  • Minimum limit Tk.50,000/- & Maximum limit 90% of the Face Value of Mudaraba Deposit.
  • Management fees/charges is 2.50% p.a. will be charged on daily outstanding amount and realized in every quarter.
  • Tenure & Renewal is 12 months on revolving basis & renewable
  • Cheque will be issued against the account on client request

Bankers' Obligations/ Customers' Obligations:
  • No profit will be credited/calculated/given by the Bank on the amount equal to the Cash Withdrawal (Quard) amount against the Mudaraba Term Deposit/ Recurring Deposit Scheme.
  • Early Adjustment & Partial Adjustment is allowed any time without any types of Fee/Charges.
  • Bank has to bear all overhead expenses related to maintenance of Deposits & Cash Withdrawal (Quard) against thereof. Maintenance of SLR & CRR, payment of insurance premium to Bangladesh Bank is mostly mentionable.
  • Management Fees will be realized at Actual on Cash Withdrawal (Quard) Amount.
  • In case of additional cash withdrawal over the preliminary amount, Management Fees to be taken for the additional / enhanced amount.
  • Customers having Mudaraba Term Deposit (MTD), Mudaraba Monthly Income Deposit Scheme (MMIDS), Mudaraba Deposit Pension Scheme (MDPS) & other eligible MTD/MRDS in Islami Banking Branches except Hajj and Mohor Deposit Scheme.

Murabaha Against Mudaraba Term & Scheme Deposit Account:
Murabaha Against Mudaraba Term & Scheme Deposit Account is refer to Sale of Goods / Commodities at cost plus on agreed profit mark-up. The scheme is developed to meet up emergency requirement for working capital of Business legitimate (Halal) by Shariah.

Key Features:
  • Mode of Investment is Revolving & EMI based.
  • Investment Size/Limit is
    1. Minimum Tk.50,000/-.
    2. Maximum 90% of the Face Value of Mudaraba Deposit.
    3. Maximum 80% of the Face Value of Monthly Paying MTDRs.
  • Rate of Profit is
    1. Mudaraba Term Deposit & Deposit Scheme Provisional Profit rate + 3 % p.a
    2. EMI based facility, Mudaraba Fixed Deposit & Deposit Scheme rate + 2.5 % p.a
    3. Various types of MTDR or Scheme Deposits with different rates, weighted average rate will be assessed and 3% spread will be added.
  • Profit Calculation on daily basis.
  • Profit will not be capitalized with the Principal Amount.
  • Processing Fee 0.50% on investment amount which is negotiable / may be waived on the basis of Bank-Customer relationship
  • Tenure & Renewal is 12 months on revolving basis & 60 months on term investment basis.

Bankers' Obligations / Customers' Obligations:
  • Early Adjustment & Partial Adjustment is allowed any time without any types of Fee/Charges.
  • Compensation / Penalty will be charged on Overdue Liability / Installment amount as decided by Concerned Authority in CHQ or as per Bank’s existing policy.
  • The Quotation and sale receipt of the Goods concern to the investment should be in the name of the Bank. There must be three parties (a) Bank, (b) Client & (c) Seller of commodities.
  • Repayment procedure from business / own sources or by encashment of Security Instrument.


Copyright © 2022 ONE Bank Limited.