Restrictions on opening an account/ closing an account/ transfer of funds by customers:
- Account holders of age below 18 years (minors) are not allowed to open Mudarabah Savings accounts.
- Sri Lankans who do not hold a valid NIC/PP are not eligible.
- Foreigners who do not hold residence visas in Sri Lanka are not eligible.
- Limits have been set by the company for fund transfers which can be customized on the customer’s request.
- Contract Law
- Directions & Circulars of Central Bank
Policies and procedures on dormant accounts and abandoned properties:
- Mudarabah savings accounts with no transactions for a one-year period are classified as Dormant Accounts.
- A duly filled Dormant Account Activation Form along with identity confirmation are required to reactivate a dormant account.