Islami Bank Waqf account: A path to Sadaqah Jariyah

Islami Bank Bangladesh's Mudaraba Waqf Cash Deposit Account (MWCDA) offers affluent individuals an opportunity to participate in a simple form of Sadaqah Jariyah (continuous charity).

In this permanent voluntary account, the principal amount remains preserved while the income generated is utilised for the welfare of humanity, according to a press statement.
Essentially, the funds donated by wealthy and well-off individuals through this account are invested in Shariah-compliant profitable sectors and the resulting profits are spent on various welfare-oriented initiatives.
Applicants can open the account with a minimum deposit of Tk 1,000, either in a lump sum, or, in installments. Once the declared amount is fully deposited, the Waqf donor is issued a Cash Waqf Certificate.