Sadaqah Jariyah means "ongoing charity" or "continuous charity". It refers to a donation that continues to benefit others even after the donor's death. It is narrated in Hadith - "When a person dies, his/her deeds come to an end except for three things: Sadaqah Jariyah: beneficial knowledge. or a virtuous descendant who prays for the deceased". [Sahih Muslim: Hadith 1631].
Sadaqah Jariyah Account (SJA) is a special kind of account (cash waqf) where the customer can deposit an amount for a perpetual tenor. The profit earned from this deposit will be used for the purpose of Sadaqah at the end of every calendar year and will be sent to the Sadaqah pool fund for donation keeping the principal intact.
There are three modes of deposit which are:
- 1. Sadaqah Jariyah Account (Fixed) – Here a customer can deposit a fixed amount onetime
- 2. Sadaqah Jariyah Account (Installment) - Here a customer will make a monthly fixed deposit for a fixed tenor of 36 or 60 months
- 3. Sadaqah Jariyah Account (Flexo) - Here a customer can deposit a variable amount at any time and frequency for a period of 120 months
Eligibility
Any Bangladeshi aged 18 years or above can open this account
Features
- Perpetual account
- Based on Mudaraba principle
- Annual donation of profit
- Non-withdrawable deposits
- Attractive provisional profit rate
- Tenors of deposit:
- Sadaqah Jariyah Account (Fixed): One time
- Sadaqah Jariyah Account (Installment): 36 or 60 months
- Sadaqah Jariyah Account (Flexo): 120 months
Donation through the below charity organizations
As-Sunnah Foundation
Center for Zakat management
Bangladesh Thalassemia Foundation
Dhaka Ahsania Mission
MASTUL Foundation
