SIBL introduced Al-Wasiyah Bil Cash Waqf Account for the first time in the country. This is also a perpetual endowment like cash waqf. This deposit product can be a beautiful tool for earthly and heavenly purposes.
Any solvent persons aged 40 years or above can open this account.
This account can be opened by depositing Tk.05.00 Lac (Taka Five Lac) and above.
The waqif (account holder) can enjoy the full or partial profit in his life time for his livelihood and after death the profit can be spent on social, religious, educational purposes according to his wish.
For unavoidable or emergency reasons, the waqif can encash the whole amount or part of it.
Waqif can make one-third of his asset as waqf but if he wants to make more than one-third of his asset, he has to take written consent from his descendants.