Bangladesh Islami Bank Ltd : Household Durables Scheme (HDS)
Name of the Organization : Islami Bank Bangladesh Ltd
Type of Facility : Household Durables Scheme (HDS)
Country : Bangladesh
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Website : http://www.islamibankbd.com/prodServices/inv_detail.php?inv_id=4
Islami Bank Household Durables Scheme
Objective:
To increase standard of living and quality of life of the fixed income group by extending them investment facilities to purchase household articles.
Related : Bangladesh Islami Bank Safe Deposit Locker Service : www.statusin.org/6774.html
Target Group:
Permanent Officials of Govt. / Semi-Govt. / Autonomous Body / Corporations / Banks & FIs / Defense Forces / Madrasah / School / College / University Teachers / Businessmen / House owners of Metropolitan & other District Head Quarters / Professionals (Doctors / Engineers / Lawyers etc.) / Existing clients / Wage Earners / University / Medical Students / Officials of renowned Private Firms.
Nature of Goods / Items:
Electronics & electrical goods, Motor cycle / Bi-cycle, Furniture / Fixtures, Ornaments, Instruments / Equipments for Medical & Engineering students etc.
Mode of Investment:
Bai-Muajjal / HPSM (item wise).
Period of Investment:
Maximum 3-years
Rate of Return:
16.00% or rate to be determined by the Bank from time to time.
Amount of Investment:
For All Metropolitan Cities Tk.0.30 million
For Districts & Municipalities Tk.0.20 million
Others Tk.0.10 million
Bank’s Participation:
30% or as per Guideline of Bangladesh Bank.
Age of Clients:
Service holders : 3-yrs unexpired service
Other than service holders : Minimum 27-years & Maximum 65 years
Students : Minimum 18-years
Security:
Hyp. on HDS Goods + PG + Spouse / Guardian Guarantee + Employer Certificate / Marking lien on MSS / MTDR (if applicable).
How to Apply:
Application Form shall have to be collected from nearest Branch of Islami Bank Bangladesh Ltd.
Rural Development Scheme :
Bangladesh with its 38% people living below poverty line and 18% living in absolute poverty is suffering from acute rural-urban economic disparity coupled with illiteracy, lack of proper health and sanitation facilities.
The country’s economy is basically an agrarian one with vast majority living in rural areas. The agriculture sector is unable to provide any further scope for employment resulting in influx of rural population towards urban areas. Rural areas are characterized by stagnant agriculture and scanty industries.
Underemployment and unemployment is a regular phenomenon particularly in rural areas. The vast human resources have remained unutilized due to lack of education, proper training and concerted efforts to help grow the rural economy.
It results in uneven distribution of income which causes serious set back in balanced geographical growth as well as growth of GDP.
Savings Plan :
MSA-RDS :
The members of the Group have to open Mudaraba Savings Account (MSA-RDS) in their individual names with the Branch from the very inception of the Group activity. The weekly compulsory savings is minimum Tk.20.00 only.
MSS-RDS :
Able members can open Mudaraba Special Savings(MSS-RDS) by depositing minimum Tk.100/- only per month
About Us :
Islami Bank Bangladesh Limited is a Joint Venture Public Limited Company engaged in commercial banking business based on Islamic Shari’ah with 63.09% foreign shareholding having largest branch network ( total 329 Branches) among the private sector Banks in Bangladesh. It was established on the 13th March 1983 as the first Islamic Bank in the South East Asia.