*Above documents are not required if customer already having current/savings account with City Bank.
*Bank may ask any additional document if required so.
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 High Value Term Deposit documentation, related contracts and process.
Therefore, We the “Shariah Supervisory Committee” for City Bank confirm that in our opinion the “Islamic High Value Term Deposit” 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 High Value term deposit is based on Islamic partnership contract Mudarabah