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

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Monthly Mudarabah Certificate

Ensuring Short-term Halal Investments with Competitive Returns

The Riba-Free Monthly Mudarabah Certificate (MMC) is a short-term deposit product which has been designed to give you expected monthly returns.

 

Monthly Mudarabah Certificates 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 Monthly Mudarabah Certificate is available for Individuals and businesses including Sole Proprietorships, Partnerships and Limited Companies.

 

Invest in Monthly 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 Amdan Certificates. This is all you need to do to enjoy our personalized banking services.

 

  • Minimum Investment required is Rs. 100,000/-
  • Investment period is one month with re-investment option available on a continuous basis
  • Monthly profit payment will be made to your Meezan Bank account
  • Pre-mature withdrawal can be made as per approved 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
Monthly Mudarabah Certificate
100K and above
0.99

 

Consolidated Weightages

Profit Rates for the month of December 2011

Average Monthly Balance (PKR)
 
Profit Rates (% per annum)
 
100K & Above
6.51%

 

 

 Historical Profit Rates

Shariah Fatwa 
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