StanChart Launches Profit Donor Account | The Daily Star
Standard Chartered Bank yesterday launched a Standard Chartered Saadiq Sadaqah account allowing customers to donate the profits generated from the account to a charity of their choice.
The mudaraba-based savings account is designed to support the philanthropic expectations of the Sadaqah (charity) which leads to the sustainable development of society as a whole, according to a press release.
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Profits will be calculated within the framework of the mudaraba pool respecting the principles of Sharia law and will be transferred to the association’s account after applicable tax deduction.
Partner charities work for causes aligned with the United Nations Sustainable Development Goals.
“The launch of the Sadaqah account is our effort to ensure that the positive changes in individual philanthropy triggered by the Covid-19 pandemic can take root and grow,” said Naser Ezaz Bijoy, CEO of Standard Chartered Bangladesh.
“If there was a time for us to consider continuously increasing the pace and volume of donations, it is now. The Sadaqah account can help us with this. It’s a new way of giving, which will allow our customers to leave a lasting memory. impact on our communities, ”said Sabbir Ahmed, Head of Personal, Personal and Business Banking.