Islami Bank Bangladesh LTD has recently declared new schemes called Urban Poor Development Scheme, and a deposit scheme for students titled Mudaraba Students Savings Scheme.
According to the bank statement the new scheme will focus on income generation for the poor to eradicate poverty and better the quality of life of the target population.
The two fold financial activities of the bank will include investing in income generating activities for marginal poor from the banks fund and the hardcore poor from charity like Zakat and Sadaqa.
Two separate primary groups of 10 women and 10 men from slums will be formed, and a man and a woman between 15-50 years will be made members from each family. Under this scheme aach member will deposit money weekly. They can later take out money for earning activities within 3 months of forming of the groups for various purposes like buying rickshaw, van, sewing machines etc.
The deposit scheme for students titled Mudaraba Students Savings Scheme pre-primary school will also be conducted for slum children and school dress and re-admission scholarship will be given for dropouts. Some selected children will also get lunch money.
Mudaraba for students intends to encourage savings among school students. Children under 18 studying in Bangladesh can avail this offer with an opening balance of Tk100. The accounts will be operable online and through ATMs. No charge will be taken for closing the account.
Guardians of the students will operate the accounts and these can be continued after the holders maturity as Mudaraba Savings Account.
Top ten depositors under the scheme will be awarded every month.

Source: Daily Star