Islami Bank Student Mudaraba Savings Account

Islami Bank Student Mudaraba Savings Account:

 

• The future of the younger ones and our achievements are being coincidentally now Juniors are getting welfare-oriented Islamic banking services.

• To provide free-of-cost banking facility for students of school-college-madrasa-university, Islami Bank has introduced the Student Mudaraba Savings Account. 

The purpose of this scheme:

This account will motivate students to develop the mentality of savings, to make wise decision-making and to provide higher education funds to meet future needs in a well planned way.

For whom this account:

Students studying in any educational institution in Bangladesh. 

Benefits of this scheme:

• * Basic deposit is only 100 taka.

• * There is no charge other than government taxes and taxes.

• * Free ATM card payment. There is no renewal fee for ATM card or any other charge.

• * The facility to withdraw money from the bank's own 500 and shared 7,000 ATM booths across the country.

• * The facility of deposit and withdrawal facility in any branch of 304 branches spread over 64 districts through online banking.

• * Special privileges of mobile recharge and fund transfer at any time from anywhere through internet banking.

• * Know the balance of the account and view the statement through SMS.

• * Opportunity to withdraw and withdraw remittances from abroad.

• * The benefit of all types of scholarship / leverage to be deposited in the account.

• * The opportunity to represent the bank at the school banking conference abroad and abroad (subject to nomination).

• * The opportunity to pay all the dues of the educational institution including education fees, tuition fees, transfer of funds through internet banking / mobile banking (mCash) from this account.  

 Student Account Opening Requirements:

Those students who are away from the family and have to bring the regular cost of money from the family, they can accept the money in the fastest time from any part of the country through the online services of the vast branches of Islami Bank. Besides, the relatives of those who are abroad can also send money from abroad to the students' accounts at the minimum cost.

Terms:

* Both students and guardians must be citizens of Bangladesh.

* Parents / legal legal guardian will handle the accounts for students under the age of eighteen.

* Adult (18 years +) students can manage their accounts themselves.

Need to open an account:

* Instructions given by educational institutions or ID cards.
* Two copies of passport size certified photograph (in case of unmarried adults, the guardian will take two copies of passport size photograph).
Photocopy of Parental ID (NID) / Passport / Citizen Certificate / Driving License of Guardian, Passport size photograph of a copy (attested by guardian in the case of students or unmarried adults). 

 

Institution fees collection system:

 Accounting opened in the name of educational institution:

For the collection of tuition fees and other fees for the students, the management company's decision to open a Savings Account in the name of the organization. In the decision of the committee, there should be mention of the name and surname of account managers. The list of account holders, voter ID (NID) / passport / citizen certificate / photocopy of driving license, by-laws of the school, certified copy of the resolution of the managing committee, and the members of the approved managing committee must be taken. In order to change the authority, new resolutions / information must be provided to the bank.  

 

Account Management:

1. Authorized by: As a educational institution, the amount of money can be deposited through cash or checks in the cash counter or deposit machine of the bank.
2. Deposit by the student / guardian: In case of educational institution, the student / guardian can deposit cash or check in the cash counter of the bank or through cash. Besides, you can deposit money through internet banking / mobile banking or any other way through transfer of funds. When submitting, the student must provide the necessary information and submission of the information.
3. Standing Instruction: In order to pay monthly wages or other fees, the students or guardians will be able to order a monthly amount from their account by giving Standing Instruction to the organization of the educational institution. No need to come to the bank every month.
4. Other deposits: Anyone else can also deposit money / checks as educational institution. 

Money withdrawal:

Account managers who have been set up by the educational institution will be able to withdraw their money through checks. Besides, withdrawal of money from the booth through ATM card and transfer of funds through internet banking can be done.

Account Statement:

Regular account statements may be required to update the internal accounts of the educational institution. Banks will provide the statement on their demand. Moreover, they can view or print the statement immediately via the internet banking office or from anywhere. 

Facilities of educational institutions:

1. Be free from the hassle of cash-money transactions.
2. The job of the accounting will be reduced.
3. Students will live in the time of parents / guardians.
4. Money transaction information will be stored in a more stable and reliable manner.
5. The accounting system will be more acceptable and transparent.
6. Students will gain financial knowledge about financial institutions and the practical experience of transactions, which will make teaching easier for teachers.
7. It is easy to pay teachers' salaries through bank accounts.
8. Modern and best services will be ensured.
9. It will be helpful to implement the government's decision and to build a Digital Bangladesh. 

Financial education activities:

On behalf of the bank branch, the educational institution will arrange financial education programs with all the students / teachers and teachers on the day of convenience. Where the discussion about school banking, documentary displays and distribution of leaflets will give a good idea about the need for school banking, opening and managing the account. At the program, attractive gifts will be given to the students on behalf of the bank.