Features and Benefits

• Profit on transaction account by maintaining Tk. 50,000 for Islamic Easy transaction account and Tk. 300,000 for Islamic Easy Plus transaction account day end balance
• Daily profit calculation
• Monthly profit payment
• No account maintenance fee*
• 1st Cheque book free
• Free intercity transaction (Deposit & Withdrawal) charge
• Free E-Statement
• Daily debit card withdrawal limits up to 2 Lac for Islamic Easy transaction account and 3 Lac for Islamic Easy Plus transaction account.

*Conditions Apply

Profit Sharing

Profit will be shared based on the income-sharing ratio between Mudarabah Depositors Pool and the Bank, and assigned weightage as published by the Bank.To know more, please click here.

How does it work?

• The customer provides funds to the Bank.
• Bank pools funds from the customers and invest them in Shariah-compliant activities.
• Income derived from the activities are shared between Mudarabah Depositors pool and the Bank based on agreed income-sharing ratio and distributed among the depositors as per weightage assigned to the product category.
• Any losses will be borne by Rab-ul-Mal except when the Bank is negligent.

Shariah Pronouncement

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 Islamic Easy & Easy Plus Current Account

• This is an investment account based on Mudarabah partnership contract
• Under this contract, the customer (Rab-ul-Mal) places fund as capital with the Bank
• City Islamic as Mudarib, invests the deposits in Shariah-compliant way.
• Income derived from the activities are shared between Mudarabah Depositors pool and the Bank based on agreed income-sharing ratio and distributed among the depositors as per weightage assigned to the product category.
• In terms of loss, the customer will bear all the monetary loss whereas the Bank will bear the loss of its effort.

Approval of Shariah Supervisory Committee

The Shariah Supervisory Committee of City Bank has reviewed the Islamic Easy & Easy Plus Current account structure, related contracts, and process etc.

Therefore, We the “Shariah Supervisory Committee” for City Bank confirm that in our opinion the Islamic Easy & Easy Plus Current account are 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.

_____________________

Mohammad Mizanur Rahman
Chairman

Shariah Supervisory Committee, City Bank