Bawaqar Bachat Account
IMD receives deposit under this product from the general public with monthly, quarterly and semi-annually profit payout.
Main feature of Bawaqar Bachat Account are as under.
|
Name of the product/service |
Bawaqar Bachat Account (Profit and Loss Distribution Policy Framework) |
|
Underlying Islamic mode |
PLS Deposit on Modarba basis |
|
Acceptable currency |
PKR |
|
Type of product (Saving/Current/ Term/ Others) |
Saving |
|
Minimum balance requirement, if any |
No minimum balance |
|
Tenors (minimum and maximum) |
Saving |
|
Profit calculation (daily product, monthly, etc.) |
Daily closing balance |
|
Periodicity of Profit distribution (Monthly, quarterly, annual, etc.) |
Monthly/Quarterly/half yearly profit payment |
|
Target Customers |
PLS Account holders |
|
Service charges leviable, if any |
As per Schedule of Service Charges |
|
Other salient features/services |
Nil |
|
Launch date of the product |
Oct 30, 2015 |
