Labbaik Mudarabah Saving Account
Labbaik Mudarabah saving account is opened for Hajji and Umrah Pilgrimage; thus, the customer will share the profit as well as be forced to saving for the purpose. The available tenure for the account ranges from one to three years for Umrah. For Hajji program, the available tenure ranges from five to fifteen years. Customers will have to monthly deposit in their account as per the proposed deposit plan. However, they are required to deposit any amount more than the agreed fund. Once the deposited amount reaches the proposed package amount, they can apply for withdrawal by filling the appropriate withdrawal format to credit Ethiopian Islamic Affairs account. As the case may be, the bank allots a higher profit sharing ratio with Labbaik mudarabah saving account holders as compared with ordinary mudarabah saving accounts.