Features and Benefits

• Minimum BDT 1,000 only for opening
• Unlimited transactions
• Visa Islamic Debit card facility (if applicable)
• Cheque book facility
• 'No profit no loss' on balance
• Internet Banking, e-Statement, SMS Alert
• Digital banking facility
• 24/7 Contact Center support

Eligibility

• Any Business entity/Farm/Company/Organization operating in Bangladesh.
• Any Bangladeshi citizen with minimum Age 18 years.

Contract

• Islamic Current Account is operated based on Islamic trust contract Al-Wadiʻah.

Shariah Structure of the Product

• This is a trust account based on safekeeping contract Al-Wadi‘ah.
• Under this contract, the customer entrusts fund to the bank as ‘Amanah’.
• Bank guarantees that the fund will be returned immediately if customer demands.
• Bank can use the fund by taking permission from the customer.
• These financing transactions and their documents are vetted and supervised by the Shariah Supervisory Committee.
• Bank is not obliged to share the profit with customer. However, Bank at its sole discretion can share the profit with customers as ‘Hibah’ or ‘gift’.
• Bank bears the risk of any losses from investment of the fund.
• Customer will not bear any losses from investment of the fund and Bank is obliged to pay back the fund upon demand.

Required Documents

To open Islamic Current Account

For Individual Customer:

Common Documents for Individual Account

• Account Opening Form (AOF) filled in and signed by all applicants
• Separate Customer Information Form (CIF) for each, if there is more than one applicant.
• “Contract and General Rules and Terms & Conditions for EBL Islamic Banking Account” signed by all applicants/signatories.
• One copy Passport size photo of each applicants (attested by introducer, if applicable).
• Copy of applicant's NID card/ Valid Passport/ Driving License or Birth Registration Certificate with duly attested photo ID.
• Recent copy of any Utility Bill (i.e. GAS/Electricity/WASA/Telephone) as proof of Mailing Address, if NID/passport address is different.
• One Introducer holding NID/EBL account (applicable only if Customer open account without NID).
• E-TIN certificate and Proof of Submission of Tax Return (if available).
• Copy of Nominee's NID/Valid Passport/ Birth Registration Certificate.
• One copy Passport size photograph of nominee (attested by the account holder)
• Beneficial owner's NID copy, Photograph/s and others documents (as and when applicable).
• Photocopy of Passport with valid Visa and work permit (for foreign citizen in Bangladesh).
• Any other document required by the Bank from time to time.

Additional Documents for NRB Customer

• Photocopy of Passport along with valid Visa and work permit.
• In case of Foreign Passport holder, the Customer needs to provide the copy of “No Visa required for Bangladesh” page.
• Proof of employment / income (employment Certificate/ Pay Slip/ Employment Contract mentioning annual income/ Bank Statement mentioning monthly salary or last Tax return paper).
• Documents must be in English (if in any other language, it has to be translated into English).
• Any document sent from abroad by the Customer must be verified and attested by the respective authority accepted by the Bank.

For Non- Individual Customer:

Common Documents for all Non-Individual Account

• Account Opening Form (AOF) filled in and signed by all signatories.
• Separate Customer Information Form (CIF) for each, if there is more than one signatory.
• “Contract and General Rules and Terms & Conditions for EBL Islamic Banking Account” signed by all applicants/signatories.
• Photocopy of NID/Passport or Birth Registration Certificate with duly attached Photo ID and Photograph/s of all Signatories.
• Copy of any recent Utility Bill (i.e. GAS/ Electricity/ WASA/ Telephone) as proof of Mailing Address, if NID/passport address is different.
• E-TIN certificate and Proof of Submission of Tax Return (if available).
• Beneficial owner's NID copy, Photograph/s and other documents (as and when applicable).
• Any other document required by the Bank time to time.

Additional Documents for Sole Proprietorship

• Copy of valid Trade License.
• Copy of NID and a photo of the Nominee (if applicable)
• Any other document as per required by the Bank time to time

Additional Documents for Partnership

• Copy of Partnership Deed of the Firm
• List of Partners with their addresses
• Copy of Valid Trade License
• Extract of Resolution of the Partnership of the Firm for opening the account and authorization for its operation duly certified by the Managing Partner of the Firm.
• Beneficial owner's NID copy, Photograph/s and others documents (as and when applicable).
• Any other document as per required by the Bank time to time

Additional requirements for Registered Partnership

• Copy of Certificate of Registration of the firm

Additional Documents for Limited Liability/ Public / Private Company

• Certified true copy of the Memorandum and Articles of Association and Certificate of Incorporation of the Company.
• Certified copy of the Letter of Commencement of the Business (in case of Public Limited Company).
• Certified true copy of Form - XII.
• Extract of the Resolution of the Board / General Meeting of the Company for opening the account and authorization for its operation duly certified by the Chairman / Managing Director of the Company.
• List of Directors with addresses.
• Copy of valid Trade License.
• Completed CIF, Photograph & Photo ID of the Director/s holding 20% and above shares of the concern
• Any other document as per required by the Bank time to time

Additional Documents for Association/ Club/ Charity / Trust / Society, etc.

• Certified true copy of the Constitution / By-laws / Trust Deed/ Memorandum and Articles of Association.
• Certificate of Registration of the Association/ Club/ Charity / Trust / Society for inspection and return (along with a duly certified photocopy for Bank's records).
• List of members of the Governing body / Executive Committee of the Association / Club/ Charity / Trust / Society with their addresses
• Extract of Resolution of the Association / Club / Charity / Trust / Society for opening the account and authorization for its operation duly certified by the Chairman / Secretary of the association / Club / Charity / Trust / Society etc.
• Any other document as per required by the Bank time to time