Now customers can avail of the fully Shariah-based savings scheme of City Bank through their bKash app from anywhere in the country.
Customers can open the ‘Islamic DPS Savings’ scheme of different tenures and amounts from the comfort of their homes in just a few minutes, avoiding the hassle of paper documents or forms, reads a press release.
The service through the bKash app was launched at a hotel in the capital on October 10.
Aziz Al Kaiser, chairman; Dr Md Anwar Hosain Molla, chairman of Shariah Supervisory Committee; Mashrur Arefin, managing director and CEO of City Bank and Kamal Quadir, chief executive officer of bKash along with senior officials of both organizations were present at the event.
Due to this collaboration, customers will no longer need to visit the bank and open a new account to save money for future financial security and needs.
As a result, everyone including the banked and unbanked population can now easily avail of Islamic Shariah-based savings services.
To open Islamic savings account at City Bank, customers need to click on the ‘Savings (in the bank and financial institution)’ icon from the home screen of the bKash app, then select savings tenor, type and follow a few easy steps.
They can avail of the savings schemes in monthly instalments of Tk500, Tk1,000, Tk2,000 and Tk3,000 starting from a minimum period of two years to a maximum of four.
After the maturity of the scheme, customers can cash out the entire amount including profit from their bKash account without any charge.
The savings instalments will be transferred automatically from the bKash account to City Islamic account on a specific date of each month.
The customer will be notified before each due date to keep a sufficient balance in the account.
Customers will be able to see all the important information anytime directly from the bKash app, including total savings amount, savings period, and profits.
Any customer, who is currently registered through e-KYC, can avail of this Islamic Savings service and can also update their account information through the bKash app anytime.
