MDB Salam Mudaraba Personal Retail Account for Merchants

The Salam Mudaraba Personal Retail Account for Merchants is a Mudaraba-based, profit-bearing Special Notice Deposit (SND) account designed for business owners and individual entrepreneurs.

This account facilitates Bangla QR merchant acquiring by providing a convenient and value-added Shariah-compliant settlement account with profit benefits under the applicable Mudaraba framework. It is designed to support merchant transactions and Bangla QR settlements while encouraging merchant onboarding and greater participation in the digital payment ecosystem.

With Midland Bank PLC., merchants can manage their business transactions through a dedicated account while enjoying convenient banking services and applicable Mudaraba profit benefits.

Title		Details
Key Features		Mudaraba-based Profit-bearing Special Notice Deposit (SND) account. Account maintained in local currency (BDT) No minimum initial deposit required. Free Debit Card facility for the first year. Free SMS Alert facility for the first year. Suitable for Bangla QR merchant settlement.
Customer Segments		Business owners and Individual entrepreneurs.
Eligibility		Any business owner or individual entrepreneur aged 18 years or above.
Account Opening Channels		Available at all Midland Bank branches, sub-branches, and Agent Banking Centers.
Required Documents		Bank's prescribed Account Opening Form (AOF), and KYC documents. Applicant's and nominee's National Identity Card (NID). Two (2) copies of the applicant's passport-size photograph and one (1) copy of the nominee's passport-size photograph. Copy of Utility Bill (Gas, Electricity, or Water). Trade License (where applicable). Attestation from the Local Representative (Union Chairman/Ward Commissioner/City Corporation) or Trade Association is required only for high-risk customers. Other documents as prescribed by the Bank.
Nominee Facility		Multiple nominees are allowed, as decided by the account holder(s). Nominees may be changed at any time through written instructions. In the case of a minor nominee, a legal guardian's photograph and photo ID are also required. If a nominee dies during the lifetime of the account holder(s), the nomination will be cancelled, and the account holder(s) must provide written instructions to appoint a new nominee. In the event of the account holder's death, the nominee will not be allowed to continue the account. The balance deposited before the account holder's death will be paid to the nominee(s).
Profit Rate		Profit will be distributed based on the applicable deposit balance slab and the approved Mudaraba profit-sharing arrangement.
Debit Card Facility		A Debit Card is available at the customer's request. The annual Debit Card fee is waived for the first year. The annual fee after the first year and re-issuance fee will be applicable as per the Bank's Schedule of Charges (SOC).
SMS Alert Facility		SMS Alert facility is free for the first year. After the first year, applicable charges will be as per the Bank's Schedule of Charges (SOC).
Account Maintenance Fee		No account maintenance fee is applicable.
Account Closure		The account can be closed at any time upon submission of written instructions from the account holder. Applicable account closure fees will be charged as per the Bank's Schedule of Charges (SOC).
Other Fees & Charges		Government Excise Duty is applicable All applicable taxes, duties, levies, and surcharges imposed by the Government of Bangladesh from time to time will be deducted or recovered from the account.
Terms & Conditions		Midland Bank PLC. reserves the right to amend the rules and procedures governing the product, whenever deemed necessary.