The profit sharing ratio will be determined based on IISR from time to time. To know more about IISR please click here.
﴿بسم الله الرحمن الرحيم﴾
الحمد لله رب العالمين، والصلاة والسلام على رسول الله، وعلى آله وصحبه أجمعين.
All praise to Allah and May peace and blessings be upon his messenger, his family, his companions and all followers of his guidance.
Shariah Structure of the Product
Approval of Shariah Supervisory Committee
The Shariah Supervisory Committee of City Bank has reviewed the Islamic City Alo High Value Savings Account documentation, related contracts and process.
Therefore, We the “Shariah Supervisory Committee” for City Bank confirm that in our opinion the “Islamic City Alo High Value Savings Account” is in accordance with the Mudarabah principle of Islamic finance and hence we allow the bank to provide this product to its customer.
And Allah Knows Best.
Dr. Md. Anwar Hosain Molla
Shariah Supervisory Committee, City Bank
This certificate was signed on Tuesday 11th May 2021
Islamic City Alo Savings Account is based on Islamic partnership contract Mudarabah.