Standard Islami Bank BABBOSHA KARMA UDDOGH
To contribute to public and private developmental projects, Standard Islami Bank offers "Standard Islami Bank Karma Uddogh" Investment facility with/without collateral to Sole Proprietorship Firms, Partnership Firms, and Private Limited Companies under SME business to meet revolving cash requirements for completion of the project.
Key Features
- To meet revolving cash requirements for completion of public and private developmental projects against particular development project (Commercial)/work order/assignment offered by Government and semi-government organizations.
- Facility Type: Continuous Investment [SOD (General)/SOD (WO)/SOD (FO)] and Term Investment.
- Investment Ceiling: Tk. 0.50 Lac to Tk. 20.00 Lac.
- Investment Tenure:
- Maximum 12 months with renewal option for Continuous Investment.
- Maximum 60 months for Term Investment.
- Nominal Profit Rate.
Eligibility
- Age: At least 21 years.
- Any Small and Medium sector enterprise (Proprietorship/Partnership/Private Limited Company) having experience of successfully completing different projects for at least 2 (two) years may apply for the Investment.
Required Documents
- Valid trade license.
- Special license/permission (if applicable) for business operation.
- Notarized partnership deed/registered by Sub-Register Officer (in case of partnership).
- Memorandum and Articles of Association in case of Limited Company.
- Passport/National Voter ID/Ward Commissioner/UP Chairman certificate of the Proprietor/Partner/Directors.
- Photo of the Proprietor/Partners and Guarantors.
- Statement of all active bank Investments (if any).
- Last 12 months' bank statement of transactional account.
Security Arrangement
Primary Security
- Letter of Acceptance of Assignment by the work-giving authority (for work order).
- Personal guarantee of Proprietor/Partner/Directors and their spouse.
- 02 (two) 3rd-party Guarantors whose Net Worth must not be less than the proposed Investment amount/Investment limit.
Collateral
Not compulsory for credit facility up to Tk. 5.00 Lac.
- Registered mortgage of property/ownership of the space/possession right purchased in Bank's name.
- Lien of cash collateral (FDR) and other encashable financial instruments (if any).