In the Voluntary Sector, SIBL has also introduced Cash Waqf Certificate, a new product for the first time in the Banking history so that a new beginning can be made for a participatory economy. 

This scheme has been well received by the people in general for its unique features. SIBL as a pioneer of this innovative financial product of social capital mobilization has received both local & international accreditation. 

By opening a Cash Waqf Deposit A/C someone can get an opportunity to do welfare to the mankind through Sadaka-e-Jariah. SIBL urges to all religious & affluent persons of the society to come forward to mobilize Cash Waqf Deposit so that the profit may be utilized for the well-being of mankind.

The Guidelines for operation of this scheme are stated below:

Cash waqfs shall be accepted as endowment in conformity with the Shariah. Bank will manage the waqf on behalf of the waqif. Waqfs are done in perpetuity and the account shall be opened in the title given by the waqif. 

The 32 purposes under 4 major fields like (1) Family Rehabilitation (2) Education & Culture (3) Health & Sanitation (4) Social Utility and (5) Others are considered as General Guidelines for distribution of profit of Cash waqf A/Cs. In the case, where only fields(s) for distribution of profit are mentioned without specifying the name of the beneficiary(s) whether individual(s) or institution(s), those Cash Waqf will be treated as General Cash Waqf and the profit of those A/Cs will be spent for welfare of mankind in the field of (1) Family Rehabilitation (2) Education & Culture (3) Health & Sanitation (4) Social Utility and (5) Others. On the other hand, Waqif may choose distribution of the profit to any specific individual(s)/ institution(s). Those A/Cs will be treated as Specific Cash Waqf, the profit of those A/Cs will be sent to the beneficiary(s) as specified by the Waqif.

• The amount deposited in the Cash Waqf A/Cs will be invested as per Bank's own decision in conformity with the Shariah and the Cash Waqf amount will earn profit at the highest rate offered by the Bank from time to time. The waqf amount will remain intact and only the profit amount will be spent for the purpose(s) specified by the Waqif. Unspent profit amount will automatically be added to waqf amount and earn profit to be grown over the time. No cheque book will be issued in this account.
• Waqif may also instruct the Bank to spend the entire profit for the purpose specified by him/her.
• Waqif has the opportunity to create cash waqf at a time. Otherwise he/she may declare the amount he/she intends to build up and may start with a minimum deposit of Tk. 1,000/= (one thousand) only (or equivalent foreign currency). The subsequent deposits shall also be made in hundred or in multiple of hundred Takas. However, General Cash Waqf A/Cs (where name of beneficiary whether Individual(s) or Institution(s) are not mentioned) may be opened by depositing a minimum sum of Tk. 1,000/= only. Specific Cash Waqf A/Cs (where name of beneficiary whether Individual(s) or Institution(s) are mentioned) by depositing a minimum sum of Tk. 5,000/= & above
• Waqif shall also have the right to give standing instruction to the bank for regular realization of cash waqf at a rate specified by him/her from any other A/C maintained with SIBL.
• Cash waqf shall be accepted in specified endowment Receipt Voucher and a Certificate for the entire amount shall be issued as and when the declared amount is built.
• Account of Cash Waqfs are maintained in a separate ledger and necessary charges as per rules may be deducted therefrom.
• In case of any change of address of the Waqif or beneficiary, must be informed by the Waqif to the Bank immediately
• Bank however reserves the right to regret to open any Cash Waqf Account.
• The rules of Cash Waqf Account are subject to amendment in conformity with the Shariah at any time by the Bank.