AB Bank launches three new Islamic banking deposit schemes

AB Bank PLC has unveiled three new Shariah-compliant deposit schemes for its customers: AB Maahir, AB Islamic DPS, and the AB Hajj Deposit Scheme.

Syed Mizanur Rahman, managing director and CEO of the bank, inaugurated the schemes at a function held at the bank's head office in the capital's Gulshan-1 recently, said a press release.

Among the new offerings, AB Maahir provides a higher quarterly profit than standard Mudarabah savings accounts, requiring a minimum balance of Tk 5,000 and offering enhanced features.

AB Islamic DPS is a monthly instalment-based deposit plan with a tenure of up to 20 years, inclusive of complimentary Takaful insurance coverage of up to Tk 50 lakh.

The AB Hajj Deposit Scheme assists customers in setting aside funds for hajj, with tenures ranging from 1 to 20 years. It offers a competitive half-yearly profit along with an attractive premature encashment facility.

Hafiz Muztaba Riza Ahmed, chairman of the Shariah supervisory committee of the bank, was also present, along with the senior management team of the bank.