Bengal Commercial Bank has launched “Bengal Mudaraba Cash Waqf” scheme for the welfare of people which is a substitute of any kind of conventional Waqf we are used to do, said a press release.
The Cash Waqf is a deposit which is irredeemable & perpetual in nature, donated in cash form in order to ensure regular flow of income for using in permitted social welfare sectors in a shariah complaint way.
Md Jashim Uddin, Chairman of the Board of Directors of the Bank & President of FBCCI, officially launched the scheme on Monday at the Bank’s Head Office in Dhaka’s Gulshan. Tarik Morshed, Managing Director & CEO of the Bank, presided over the launching ceremony.
Mufti Mohammad Muhibullahil Baqee, Chairman of the Shariah Supervisory Committee of the Bank & Pesh Imam of Baitul Mukarram National Mosque, and S M Faruqi Hasan, Director of the Bank & Chairman of Risk Management Committee, were also present at the ceremony along with other Directors, Deputy Managing Directors and other High Officials.
