Features and Benefits

• Minimum Balance to open by individual and other non-individual entity: Tk.1000/-
• Minimum Balance to open by any Bank or NBFI: Tk.5,00,000/-
• Half-yearly profit payable
• Internet Banking, e-Statement, SMS Alert
• Digital banking facility, if applicable

Eligibility

• Any Bangladeshi Individuals having contractual capacities
• Any permitted non-individual entity registered in Bangladesh
• Any scheduled Bank or Non-Bank Financial Institution (NBFI)

Contract

• Islamic Savings Account is based on the Islamic partnership contract Mudarabah.

Shariah Structure of the Product

• Under this contract, the customer (Rab-ul-Mal) places fund as capital with the bank
• EBL Islamic Banking as Mudarib allocates the fund in deposit pool and invests them in Shariah-compliant way
• These financing transactions and their documents are vetted and supervised by the Shariah Supervisory Committee
• Profit generated from the investment of the deposit pool is shared between the customer and Bank based on PSR
• In terms of loss, the customer will bear all the monetary loss whereas the bank will bear the loss of its effort
• Bank on its sole discretion can provide Hibah (gift) to customers from time to time

PSR, Weightage and Provisional rate

• The Profit Sharing Ratio (PSR), weightage and provisional profit rate will be set by the Bank as per approved policy from time to time. For details click here.

Required Documents

To open Islamic SND 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