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Padma Bank launches interest-free Islamic Shariah banking

Published : Wednesday, 20 September, 2023 at 12:00 AM  Count : 150
Business Desk

Padma Bank Limited has introduced interest-free Islamic Shariah-based banking facilities since Islamic banking services are gaining popularity day by day now-a-days in Bangladesh.
The journey of "Padma Bank Islamic" has officially started on May 25 with the promise to give modern and digital banking services. All the transactions are being managed by a completely separate Islamic software-based accounting system, said a press release.
Padma Bank Limited has opened the doors of interest-free banking services for all customers irrespective of religion and caste through 60 branches and 14 sub-branches across the country.
From now on, any customer can avail Islamic banking services from anywhere of the country at any time. Anyone can open a "Padma Bank Islamic" account instantly through Padma Wallet and Padma Internet Banking.
With the "Padma Bank Islamic" Debit Card, clients can withdraw money from any ATM booth of any bank in the country which is completely free of cost.
Besides, a free SMS alert service for ATM and POS transactions will reach the customer's phone. Balance check and mini-statement facilities are available from any ATM booth in the country. In addition, there are "Padma Bank Islamic" Debit Card offer, attractive discounts on shopping, foods & beverages at different outlets.
The release said Padma Bank Limited has introduced 19 different types of Islamic deposit services, including the Al Wadeeah Current Account, Mudarabah Savings Account and Mudarabah Hajj Savings Scheme. Provisional profit rate on Mudarabah Deposit Accounts is very attractive. Pay-order, free first cheque book, student & medical file and locker service are also available.

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