Meridian Finance and Investment Limited always strives to ensure enjoyable experience in Financing and looks for every opportunity to improving further. In this effort, it gives immense pleasure to inform that MFIL has added another magnificent feather to its hat by inaugurating Shariah based Islamic Financing Solution with brand name ‘Meridian Islamic Finance’. ‘Meridian Islamic Finance’ is committed to offer best-in-class services with uncompromising Shariah adherence. As part of our commitment to that, it would be the catalyst in harnessing Shariah based financial needs from a robust, reliable and highly flexible financing platform.
Muhammad Riazul Hoque
Chairman
Mufti Shawkat Qasemi
Member
Mufti Nurul Ameen Qasemi
Member
Mrs. Shahnaj Kamal
Member
Mr. Md. Rezaul Hossain
Member
Mudaraba is a partnership of labor and capital, where one partner (Sahib-Al-Maal) provides full capital and the other one (Mudarib) manages the business. Profit, if any, is divisible between the Sahib-Al-Maal and the Mudarib at a predetermined ratio, while loss, if any, is borne by the Sahib-Al-Maal.
| Customer Segment |
– Individual (single/joint) – Association, Trusts & Societies – Proprietorship Concern – Partnership Concern – Public or Private Limited Company – Government Bodies etc. |
| Eligibility |
Citizen: Bangladeshi Age: 18 years and above Residency: Resident or Non Resident Bangladeshi Demographic: Urban & Rural |
| Tenor | 1/3/6/12/24/36/48/60 month(s) |
| Profit Rate | Profit Rate will be determined every month according to the Income Sharing Ratio (ISR) between Bank and Customer and Income from investment |
| Premature Encashment | Profit will be given for completed month(s) and year(s) |
| Premature Encashment | Profit will be given for completed month(s) and year(s) |
| Quard Facility | 80% Quard facility may provide against MTDR |
Customers are eligible for receiving profit on monthly or quarterly basis for the entire tenor and the principal will be automatically renewed on maturity.
Mudaraba is a partnership of labor and capital, where one partner (Sahib-Al-Maal) provides full capital and the other one (Mudarib) manages the business. Profit, if any, is divisible between the Sahib-Al-Maal and the Mudarib at a predetermined ratio, while loss, if any, is borne by the Sahib-Al-Maal.
| Customer Segment |
– Individual (single/joint) – Proprietorship Concern |
| Eligibility |
Citizen: Bangladeshi Age: 18 years and above Residency: Resident or Non Resident Bangladeshi Demographic: Urban & Rural |
| Tenor | 12/24/36/48/60 month(s) |
| Profit Rate | Profit Rate will be determined every month according to the Income Sharing Ratio (ISR) between Bank and Customer and Income from investment |
| Premature Encashment | Profit will be given for completed month(s) and year(s) |
| Quard Facility | 90% Quard facility may provide against MTDR |
Bai’ Murabaha may be defined as a contract between a Buyer and Seller under which the Seller sells certain specific goods permissible under Islamic Shariah and the Law of the land to the Buyer at a cost plus agreed profit payable in cash or on any fixed future date in lump sum or by installments. The profit marked-up may be fixed in lump sum or in percentage of the cost price of the goods.
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Corporate Business Medium Enterprises Small Enterprises Woman Entrepreneurs |
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Citizen: Bangladeshi Age: 22 years and above Residency: Resident Bangladeshi Demographic: Urban & Rural |
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10.0 Lac to 10.0 Crore | ||
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1 year to 5 years | ||
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Profit Rate will be determined every month with consent of Shariah Supervisory Committee | ||
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Allowed at any point of time without any types of Fee/Charges. | ||
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ü Payment in favor of vendor/supplier ONLY ü EMI will not be increased over the tenor ü No compound calculation ü No additional charge for partial settlement |
Hire Purchase (participatory ownership) mode both the Financial Institution and the Client supply equity in equal or unequal proportion for purchase of an asset like land, building, machinery, transports etc. Purchase the asset with that equity money, own the same jointly, share the benefit as per agreement and bear the loss in proportion to their respective equity. The share, part or portion of the asset owned by the Financial Institution is hired out to the Client partner for a fixed rent per unit of time for a fixed period. Lastly the Financial Institution sells and transfers the ownership of it’s share / part / portion to the Client against payment of price fixed for that part either gradually part by part or in lump sum within the hire period or after the expiry of the hire agreement.
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Salaried Executives Self Employed Professionals Businessperson Land Lord Corporate Business Medium Enterprises Small Enterprises Woman Entrepreneurs |
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Participatory ownership and lease for Building/ Apartment, Vehicles, Machinery, Equipment etc. | ||
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Citizen: Bangladeshi Age: 22 years and above Residency: Resident Bangladeshi Demographic: Urban & Rural |
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10.0 Lac to 5.0 Crore | ||
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1 year to 4 years for Capital Machinery, Equipment, Transport etc. 3 years to 20 years for Building / Apartment. |
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Profit Rate will be determined every month with consent of Shariah Supervisory Committee | ||
|
Allowed at any point of time without any types of Fee/Charges. | ||
|
ü Payment in favor of vendor/supplier ONLY ü EMI will not be increased over the tenor ü No compound calculation ü No additional charge for partial settlement |
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