Hajj Finance Company Limited
 
Depository Services

Hajj Development Mudaraba Term Deposit (HDMTD)

   The opening of the account and money deposited into it is governed by the Mudaraba rules      of Islamic Shariah.
   Hajj Development Mudaraba Term Deposit (HDMTD) account may be opened in the name      of individual or institution.
   Tenure of HDMTD rangs from 1year to 10 years, however for an institution, the minimum      tenure is 6 months.
   The depositor, with the approval of the company, may lien upto 80% of the amount in his      HDMTD account for financing facility under quard system.
     The company (HFCL) will set aside 10% of the profit it earns from investing this deposit      and credit it to "Hajj Development Fund" which will be utilized for Hajj development (Hajj      training, publication and distribution of Hajj literature for would be Hajjees etc.) and      welfare of Hajjees while they are performing their Hajj in the Holy Land (for hiring      religious teachers or guides, medical expenses, burial expenses etc.).
     Account holder gives his consent to HFCL to utilize the whole or part of money to the credit      of his account in the manner that the company shall deem fit.