Islami Bank Fixed Deposit System

Even though bank islam does not penalize you for making premature withdrawal however you are required to pay 50 of the total brokerage fee to the bank.

Islami bank fixed deposit system. The agreement between the depositor and the islamic banks does not indicate a specific rate of return. Deposit accounts name. It merely sets the ratio in which profits and losses may be distributed between the parties of the contract. Major approaches for islamic banking deposit accounts.

In conventional banking as we know it the relationship between a bank and a customer is that of a debtor and a creditor namely. The bank commits to refund money deposited in these accounts on the demand of customers. Islami bank bangladesh limited mobilizes deposits through different types of accounts. Al wadeah accounts mudaraba accounts.

What s more when you make a premature withdrawal of your fixed deposit before maturity date you will no longer receive any profit payments effective from january 2019. Islamic deposits may be based on mudarabah and wakalah structures.