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» Prime Bank Shari'ah Supervisory Committee
» Weightage and Distribution of profit under Islamic Banking
Weightage and Distribution of profit under Islamic Banking
Prime Bank Limited is operating 05 (five) Islamic Banking branches based on Islamic Shariah, which absolutely prohibits receipts and payments of interest in any form. The operation of these 05 (five) branches are totally different from other conventional banking branches as they operate on the basis of profit sharing arrangement.

Provisional profit are applied to the different types of depositors at the rates to be decided by the Bank from time to time taking into consideration of the industry trend and that of the rates of other Islamic Banks in Bangladesh. Final rates of profit are declared annually as at 31 December in every year on the basis of income earned from different investments and other business by individual branches and distributed as per weightage of the different deposit products.

For the year ended 31 December 2016, 70% of total investment income shall be distributed to the different types of Mudaraba depositors (except no cost fund) according to the weightage. The remaining 30% of the investment income will be retained by the Bank as Management fee (25%) and Investment loss Off-setting Reserve (5%).

Weightageand Final Profit rate for the year 2016 is given below:
Deposit types Weightage Final rate of profit for the year 2016(%)
Mudaraba Saving Deposits 0.75 4.34
Mudaraba Saving Deposits (Daily basis) 0.75 4.34
Mudaraba Short Notice Deposits 0.52 4.34
Mudaraba Payroll 0.75 4.34
Mudaraba Term Deposits
        36 Months 1.00 6.87
       24 Months 0.98 6.73
       12 Months 0.96 5.84
       06 Months 0.92 5.29
       03 Months 0.88 4.81
       01 Month 0.84 4.59
Mudaraba Education Savings Scheme 1.20 8.24
Mudaraba Monthly Contributory Savings Scheme 1.05 7.21
Mudaraba Monthly Benefit Deposit Scheme 1.02 7.01
Mudaraba Double Benefit Scheme 1.02 7.01
Mudaraba Hajj Savings Scheme 1.20 8.24
Mudaraba Lakhpoti Deposit Scheme 1.05 7.21
Mudaraba Lakhpoti Deposit Scheme>3 1.05 7.21
Mudaraba Millionaire Deposit Scheme 1.05 7.21
Mudaraba House Building Deposit Scheme 1.05 7.21
Mudaraba My First Account 0.75 4.34
Mudaraba Sukonna Deposit 0.75 4.34
Mudaraba Nobagoto Deposit 1.05 7.21
Mudaraba 150% Deposit Scheme 1.01 6.94
Mudaraba LaksmaPuran Saving Scheme 1.05 7.21
Mudaraba Brighter Tomorrow 0.96 5.84
Mudaraba Cash Waqf (Fixed) 1.20 8.24
Mudaraba Waqf (Installment) 1.20 8.24
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