ALWADIAH Current Deposit A/cs are opened on proper introduction with minimum initial deposit fixed by the Bank.
ALWADIAH Deposit is accepted on ALWADIAH principles which mean al Amanah with permission to use. According to this principle Bank can use the fund of the account alongwith other funds as per Shariah at bank's own risk. Account holder(s) will not share any profit/loss.
The Law and regulation of Bangladesh, usual customs and procedures common to banks in Bangladesh including Islamic Banking Principles shall apply to and govern the conduct of account opened with the Bank.
Withdrawal can be made only through cheques issued by the bank.
The A/c. holder(s) shall preserve the cheque book with utmost care so that it might not be lost or stolen. For any misappropriation taken place through any such stolen or lost cheque, the Bank shall not be held responsible.
The depositor shall take back the pay-in-slip after deposit of any money or cheques etc. clearly specifying the number and title of account in the slip. All cheques, DD/PO etc shall be crossed before deposit.
Bankers shall note "Stop payment" of the account holder with due care. Payment of any such cheque, the Bank shall not be held responsible.
Any change in the address of the depositor should be immediately communicated to the bank. No responsibility can be accepted by the bank for delay, non-delivery etc. of letters, remittances etc sent through Post office and other agents.
Bank makes entry in the account with due care. However, for any wrong entry, the Bank reserves the right for adjustment/correction and no responsibility can be accepted by the bank for any loss caused by the caused by the account holder due to such inadvertent/wrong entry passed by the Banker.
The Bank reserves the right to close any account without notice and alter, add any or all of the rules and such altered/additional rules shall immediately thereafter be deemed to be binding on the account holder.