Alongside regular DPS service of Dhaka Bank, customers can now avail of Islamic DPS services of the bank through the bKash app, anytime and anywhere. This development expands bKash customers’ access to shariah-based Islamic DPS service from two banks along with DPS services from four banks and one financial institution.
As the largest MFS in the country, bKash introduced monthly DPS services from various banks and financial institutions to its platform in 2021. Subsequently, the company launched both Islamic DPS and weekly DPS services. To date, customers have opened over 3 million monthly and weekly DPS accounts through the bKash app with these four banks and one financial institution.
From bKash app, customers can easily open Islamic DPS accounts of various tenures and amounts in just a few minutes, without the hassle of paperwork or filling out forms. To open an Islamic savings account of Dhaka Bank, customers need to click on ‘Savings (in bank and financial institution)’ icon from the home screen of bKash app, then select savings tenor, type and follow a few easy steps. They can avail the savings schemes in monthly instalments of Tk 500, Tk 1000, Tk 2000, Tk 2500, Tk 3000, Tk 5000 and 10,000 starting from a minimum period of one year to a maximum of four. After maturity of the scheme, customers can cash out the entire amount including profit from their bKash account without any charge.
The savings instalments will be transferred automatically from bKash account to Dhaka Bank’s Islamic account on a specific date of each month. The customer will be notified before each due date to keep sufficient balance in the account. They can also see all the important information anytime directly from the bKash app, including total savings amount, savings period and profits.
Customers are relieved from the hassle of opening a new bank account during the banking hours to start a monthly savings plan for future financial security. As a result, everyone including banked and unbanked population can now easily avail Islamic shariah-based savings service. This will encourage savings practices and contribute to the economy.
Any customer, who is currently registered through e-KYC, can avail of this Islamic Savings service using bKash app. They can also update their account information through bKash app anytime.
