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Bawaqar Bachat Account

IMD receives deposit under this product from the general public with monthly, quarterly and semi-annually profit payout. 

Main feature of Bawaqar Bachat Account are as under.

Name of the product/service

Bawaqar Bachat Account

(Profit and Loss Distribution Policy Framework)

Underlying Islamic mode

PLS Deposit on Modarba basis

Acceptable currency

PKR

Type of product (Saving/Current/ Term/ Others)

Saving

Minimum balance requirement, if any

No minimum balance

Tenors (minimum and maximum)

Saving

Profit calculation (daily product, monthly, etc.)

Daily closing balance

Periodicity of Profit distribution (Monthly, quarterly, annual, etc.)

Monthly/Quarterly/half yearly profit payment

Target Customers

PLS Account holders

Service charges leviable, if any

As per Schedule of Service Charges

Other salient features/services

Nil

Launch date of the product

Oct 30, 2015

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