Islamic Monthly Benefit Scheme

Enjoy the little joys of life and have a peace of mind of being Shariah-compliant. Grow your savings in Halal way and enjoy life by receiving monthly profits.

Features and Benefits

  • Minimum account opening balance BDT 50,000
  • Higher monthly profit
  • Profit amount varies each month based on the Mudarabah activity
  • Flexible tenure choice


  • Must be a citizen of Bangladesh
  • Above 18 years old
Required Documents
  • NID/Birth certificate/Passport
  • Photograph – 2 Copies
  • Nominee photograph – 1 Copy
  • Nominee’s NID/Birth certificate/Passport
  • Income source document
  • E-TIN

*Above documents are not required, if customer already having current /savings account with CBL.
*Bank may ask any additional document if required so.

Profit Sharing Ratio

The profit sharing ratio will be determined based on IISR from time to time. To know more about IISR please click here.

Premature Closure

  • Less than 3 months: No profit will be provided because of breach of promise. Any profit previously provided will be deducted from the principal.
  • More than 3 months but less than product tenure: Customer will receive profit based on savings account rate. Excess profit will be deducted from the principal.

How does it work?

  • Customer provides funds to the Bank for fixed time.
  • Bank pools funds from the customers and invest them in Shariah-compliant activities.
  • Profit derived from the activities are shared between Bank and customer based on the agreed IISR.
  • Any losses will be borne by the customer except when Bank is negligent.

Shariah Pronouncement

﴿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

  • This is an investment account based on partnership contract Mudarabah
  • Under this contract, the customer (Rab-ul-Mal) places fund as capital with the Bank
  • Islamic as Mudarib allocates the fund in deposit pool and invest 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 deposit pool is shared between the customer and Bank based on IISR
  • 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 customer from time to time

Approval of Shariah Supervisory Committee

The Shariah Supervisory Committee of City Bank has reviewed the Islamic Monthly Benefit documentation, related contracts and process.

Therefore, We the “Shariah Supervisory Committee” for City Bank confirm that in our opinion the “Islamic Monthly Benefit” 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 Monthly benefit Scheme is based on Islamic partnership contract Mudarabah.