Islamic Banking
Islamic banking is a system of conducting banking activities in line with the principles of Shariah while avoiding all the prohibited activities such as Interest/Riba, Gharar (uncertainty), dealing in prohibited businesses (e.g. alcohol, gambling), etc.
Rupali Islamic Banking
To provide Shariah based banking services to the valued clients, Rupali Bank PLC has launched Islamic banking facility through window-based Islamic Banking Service “Rupali Islamic Banking”. In Rupali Bank PLC, Islamic Banking Window is operated under 'Islamic Banking Division' since 11th October 2023. A highly qualified and skilled Shariah Supervisory Committee is formed with renowned scholars of Islami Shahiah and Banking. This committee is chaired by Dr. Mufti Moulana Mohammad Kafiluddin Sarker Salehi, Governor, Islamic Foundation, Bangladesh.
Al-Wadiah Current Account (AWCA)
Terms and Conditions
- Specific papers/ documents on the basis of the type of the customer
- The Client should approach the Bank through AWCA Form.
- Obtain and affix attested National ID card/ Passport
- Photograph of Account holder is required.
- Specimen Signature.
- Nominee required in case of individual.
- Minimum initial deposit (Tk.1000/=).
- Minimum balance should be Tk.1000/-
Eligibility
- Individual (Adult).
- Partnership Firm/ Private & Public Limited Company
- Non Trading Concern (Educational Institute, Club, Society etc).
- Govt./Autonomous Bodies.
Benefits/Features
- Deposit will be received and invested According to Shariah principles.
- Cheque for easy cash withdrawal and no notice is required.
- No Profit is given to AWCA account
- Taka can be deposited any time of the month.
- Maintenance & Service Charge will be deducted as per Charges Schedule
Mudaraba Savings Account(MSA)
Terms and Conditions
- Specific papers/ documents on the basis of the type of the customer is required
- The Client should approach the Bank through Mudaraba Savings Account Form
- Obtain and affix attested National ID card/ Passport
- Photograph of Account holder is required
- Nominee required in case of individual
- Initial deposit Tk.500/= (Minimum)
Eligibility
- Individual
- Partnership Firm
- Non Trading Concern (Educational Institute, Club, Society etc).
- Govt./Autonomous Bodies.
Benefits/Features
- Deposit will be received and invested According to Shariah principles
- Cheque/ATM for easy cash withdrawal
- Profit is given twice a year according to profit/ loss of the year
- Deposit can be withdrawn 4 times a month and 1/4th of the deposit
- Taka can be deposited any time
| Mudaraba Deposit | Income Sharing Ratio | |
|---|---|---|
| Bank | Depositor | |
| Mudaraba Savings Account | 55% | 45% |
Mudaraba Monthly Deposit Scheme (MMDS)
Terms and Conditions
- Specific papers/ documents on the basis of the type of the customer is required
- Specimen Signature is required
- Introducer is required
- Nominee is required
- Installment size: Any amount multiplse of TK.500/- up to a maximum of TK. 25000/-
- Deposit date: At any day of the specific month
Eligibility
- Individual
Premature Profit Rate
- Encashment before one year: only actual deposit will be returned
- Encashment after one year but before three years: profit will be given at MSA rate only
- Encashment after 3 years : profit will be given at the rate of completed years and at the MSA rate for the additional period
Benefits/Features:
| Mudaraba Monthly Deposit Scheme (MMDS) | Income Sharing Ratio | |
|---|---|---|
| Bank | Depositor | |
| For 3 years | 25% | 75% |
| For 5 years | 18% | 82% |
| For 8 years | 16% | 84% |
| For 10 years | 14% | 86% |
Mudaraba Term Deposit Receipt (MTDR)
Terms and Conditions
- Specific papers/ documents on the basis of the type of the customer
- Photograph of Account holder is required
- Specimen Signature
- Nominee required
Eligibility
- Individual (Adult).
Premature Profit Rate
- Encashment before three months: only actual deposit will be returned.
- Encashment after three months but before maturity: profit will be calculated at the maturity rate then profit for three months will be deducted and the rest amount will be returned.
Benefits/Features:
| Mudaraba Term Deposit Receipt (MTDR) | Income Sharing Ratio | |
|---|---|---|
| Bank | Depositor | |
| For 3 Months | 30% | 70% |
| For 6 Months | 25% | 75% |
| For 12 Months | 20% | 80% |
| For 24 Months | 15% | 85% |
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Islamic Banking Windows Of Rupali Bank PLC
| SL | DISTRICT | NAME | ADDRESS | PHONE & E-MAIL |
|---|---|---|---|---|
| 1 | Dhaka | Islamic Banking Window, Rupali Sadan Corporate Branch,Dhaka | 7/8, Central Insurance Bhaban,(1st Floor) Motijheel, Dhaka-1000 | 02-57164330 br-0026-ibw @rupalibank.org |
| 2 | Dhaka | Islamic Banking Window, Purana Paltan Corporate Branch,Dhaka | Monisingh Forhad Smriti Trust Bhaban, 21/2, Purana Paltan, Dhaka-1000 | 02-223380544 ibw-0349 @rupalibank.org |
Shariah Supervisory Committee of Rupali Bank PLC
| 1 | Dr. Mufti Moulana Mohammad Kafiluddin Sarkar Salehi | Chairman |
| 2 | Mr. Moulana Sharif Md. Abu Hanif | Vice Chairman |
| 3 | Prof. Dr. Mohammad Abdur Rashid | Member |
| 4 | Prof. Abu Taleb | Member |
| 5 | Prof. Dr. Md. Shamsul Alam | Member |
| 6 | Professor Dr. Md. Abdul Kadir | Member |
| 7 | Mr. Mohammad Jahangir, Managing Director & CEO | Member |
| 8 | Mr. Kazi Abdur Rahman, Deputy Managing Director | Member |