UAN: 111-331-331 04 February, 2012 | Rabi-ul-Awal 11, 1433

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Dollar Mudarabah Certificate

Halal, Riba-Free Investment with Competitive Returns
The Dollar Mudarabah Certificate (DMC) is a deposit product through which you can invest your US Dollars with Meezan Bank for periods ranging from 3 months to 3 years and earn six-monthly or at maturity profit payments on your investment.

 

Dollar Mudarabah Certificates (DMC) work on the principle of Mudarabah under which the customer is an Investor (Rab-ul-Maal), and the Bank is the Manager (Mudarib) of the funds deposited by the customer. The Bank allocates the funds received from the customers to a Deposit pool; funds from the pool are utilized to provide financing to customers under Islamic modes that include, but are not restricted to Murabaha, Ijarah, Istisna and Diminishing Musharakah.

 

The Dollar Mudarabah Certificate is an ideal investment for Individuals, Sole Proprietorships, Partnerships and Limited Companies.

 

 

Invest in Dollar Mudarabah Certificate!

Visit any of Meezan Bank’s branches, fill-in the Application Form and complete a few simple formalities required for investing in Meezan Dollar Mudarabah Certificate. This is all you need to do to enjoy our personalized banking services.

Enjoy a range of valuable features including:

 

  • Minimum Investment required is USD 10,000/-
  • Investment tenures are 3 months, 6 months, 1 year and 3 years
  • Profit payment will be made either at maturity or on a  six-monthly basis to your Meezan Bank Dollar Saving Account
  • Pre-mature withdrawal options available as per approved Early Redemption Schedule

 

Profit sharing & Distribution Method

 

The Bank calculates the profit of the deposit pool every month. Gross income of the deposit pool is shared between the Bank (Mudarib) and customers (Rab-ul-Maal) on the basis of a predetermined profit-sharing ratio announced at the beginning of the month. The profit is distributed amongst the Account holders on the basis of predetermined weightages, announced at the beginning of the month. In case of a loss, as per the rules of Mudarabah, the Rab-ul-Maal shall bear the loss in the ratio of their investment.

 

 

Profit Sharing Ratio

  • Bank will share 50% of Gross Income as Mudarib
  • Depositor will share 50% of Gross Income as Rab-ul-Maal

 

Weightages for the Month of February 2012

 

Account Categories
Profit Distribution Periods/
Tier groups
Weightage Assigned
Dollar Mudarabah Certificate - 3 months
Maturity
10K - 49.9K
0.77
Dollar Mudarabah Certificate - 3 months
Maturity
50K & Above
0.87
Dollar Mudarabah Certificate - 6 months
Maturity
10K - 49.9K
0.84
Dollar Mudarabah Certificate - 6 months
Maturity
50K & Above
0.91
Dollar Mudarabah Certificate - 1 year
6 Monthly
10K - 49.9K
0.87
Dollar Mudarabah Certificate - 1 year
6 Monthly
50K & Above
0.94
Dollar Mudarabah Certificate - 1 year
Maturity
10K - 49.9K
0.91
Dollar Mudarabah Certificate - 1 year
Maturity
50K & Above
0.98
Dollar Mudarabah Certificate - 3 years
6 Monthly
10K - 49.9K
0.94
Dollar Mudarabah Certificate - 3 years
6 Monthly
50K & Above
1.01
Dollar Mudarabah Certificate - 3 years
Maturity
10K - 49.9K
0.98
Dollar Mudarabah Certificate - 3 years
Maturity
50K & Above
1.03

Consolidated Weightages

Profit Rates for the month of December 2011

Period
Profit Rates (% per annum) 10K - 49.9K
 
Six Monthly
Maturity
Three Months
-
1.83%
Six Months
-
2.00%
One Year
2.07%
2.17%
Three Year
2.24%

2.33%

 

Period
Profit Rates (% per annum) 50K & Above
 
Six Monthly
Maturity
Three Months
-
2.07%
Six Months
-
2.17%
One Year
2.24%
2.33%
Three Year
2.40%
2.45%

 

Historical Profit Rates

Shariah Fatwa 

Premature Encashment of a Certificate(s)



In case of Premature Encashment of a certificate(s), profit will be paid with respect to the applicable product category rate mentioned below.

 

Early Redemption Schedule for the Dollar Mudarabah Certificate (Effective: Nov 1, 2009)
S No.
Tenure
Rates Applicable on Premature Encashment within
    1 Months 3 Months 6 Months 1 Year 2 Years 3 Years
1.
3 Months
 No Profit $ Saving Rate        
2.
6 Months
 No Profit $ Saving Rate 3 Months
$ COII		      
3.
1 Year - 6 Monthly
 No Profit $ Saving Rate 3 Months
$ COII		 6 Months
$ COII		    
4.
1 Year - Maturity
 No Profit $ Saving Rate 3 Months
$ COII		 6 Months
$ COII		    
5.
2 Years - 6 Monthly
 No Profit $ Saving Rate 3 Months
$ COII		 6 Months
$ COII		 1 Year -
$COII 6monthly 		  
6.
2 Years - Maturity
 No Profit $ Saving Rate 3 Months
$ COII		 6 Months
$ COII		 1 Year -
$COII 6monthly		  
7.
3 Years - 6 Monthly
 No Profit $ Saving Rate 3 Months
$ COII		 6 Months
$ COII		 1 Year -
$COII 6monthly		 1 Year -
$ COII maturity
8.
3 Years - Maturity
 No Profit $ Saving Rate 3 Months
$ COII		 6 Months
$ COII		 1 Year -
$COII 6monthly		 1 Year -
$ COII maturity

 

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