Manarah Monthly Benefit Scheme is a term deposit operated under the principle of Mudaraba. It is an Islamic financial partnership contract where one party provides capital and the other party provides labor. Income generated from the venture is distributed between the parties with predetermined profit sharing ratio.
Overview
Premature Closure
| No. of Year | Applied profit |
|---|---|
| Less than 3 months | Customer will not get any profit and profit already paid to customer's CASA account will be deducted from his principal amount. |
| More than 3 months but less than product tenure | Customer will get profit @ SB* rate for the deposit period. Excess profit already paid to customer's CASA account will be deducted from his principal amount. |