UCB Taqwa – Islamic banking declares Income Sharing Ratio (ISR) between Bank and Customer, which is applicable on its Bangladeshi Taka UCB Taqwa Mudaraba Savings Account, UCB Taqwa Mudaraba SND Account, UCB Taqwa Mudaraba Term Deposit Account, UCB Taqwa Monthly Income Term Deposit, UCB Taqwa Monthly Deposit Scheme
UCB TAQWA profit bearing accounts are operated under Shariah Mode “Mudaraba” where, it is a partnership business contract between Bank & Customer. Customer provides capital (Shaheb Al Maal) and Bank manages the business (Mudarib). Income generated is distributed between partners as per agreed Income Sharing Ratio (ISR)
Current month’s ISR of each types of Deposit Account Customers
| Name of the deposit product | Business Segment | Customer’s Share (ISR) | Indicative Rate |
|---|---|---|---|
| Mudaraba Savings Account | Retail/ SME | 22% | 2.00% |
| Mudaraba Imperial Savings Account | Retail | 25% | 2.25% |
| Mudaraba SND Account | SME/ Corporate | 25% | 2.50% |
| Mudaraba Term Deposit 3 Months | Retail/ SME/ Corporate | 65% | 3.00% |
| Mudaraba Term Deposit 6 Months | Retail/ SME/ Corporate | 70% | 3.50% |
| Mudaraba Term Deposit Mudaraba 12 Months | Retail/ SME/ Corporate | 73% | 4.00% |
| Mudaraba Term Deposit 24 Months | Retail/ SME/ Corporate | 62% | 4.50% |
| Mudaraba Term Deposit 36 Months | Retail/ SME/ Corporate | 62% | 4.50% |
| Mudaraba Monthly Income Term Deposit (1/2/3/4/5) Years | Retail/ SME/ Corporate | 62% | |
| Al-Wadia Current Account | Retail/ SME/ Corporate | 0% | 0% |
Note: Effective from 2nd November 2020
