FAQs

The price or NAV a unit holder is charged while investing is called the sales price.

Repurchase or redemption price is the price or NAV at which the fund purchases or redeems its units. In both cases there may be entry and exit load.

SIP means Systematic Investment Plan. Actually, it is an alternative to DPS (Deposit Pension Scheme), where an investor can invest in open end unit funds with a monthly fixed amount. The minimum investment amount will be BDT 1000/- (Taka One Thousand Only) or you can invest a multiplier of BDT 1000/- per month. The minimum investment period is of 3 (Three) years. The payment for the SIP period is generally done by Auto Debit System from the investors bank account with the consent of the investor. SIP units are issued with a discount of 1 percent from the regular sales price of the week.

CIP means Cumulative Investment Plan. Actually, it is a system of dividend payment, where the investor can get the dividend of the investment in the form of units re-invested in lieu of cash dividend. CIP units are also issued with a discount of 1 percent from the opening sales price of the Financial Year for the funds.

Anybody can invest in the Open End Mutual Funds by filling up the application form (available in IAMCL/ in our Selling Agents’ Office/in the website of IAMCL: www.icbamcl.com.bd or www.icbamcl.gov.bd), some other documents related to KYC along with the investment amount required through A/c payee cheque of the investor/Pay order/Cash (upto eight lac only)/Online Bank Transfer/MFS i.e. bKash, Nagad, Ekpay in favor of the Open End Mutual Fund.

For Individual:

• Filled up application form (KA form) of the fund;
• 1 (one) copy of passport size photograph of the applicant and the nominee each;
• 1 (one) photocopy of NID/Smart Card/Birth registration/Passport of the applicant and the nominee each;
• 1 (one) photocopy of Investors’ MICR cheque leaf;
• 1 (one) photocopy of Investors’ eTIN (If applicable);
• 1 (one) photocopy of Investors’ utility bill (as proof of present address);
• 1 (one) photocopy of Investors’ BO Setup/BO Acknowledgement (In case of investment in CDS Open End Mutual Funds).

For Institute/company:

• Filled up application form (KA form) of the fund;
• 1 (one) copy of passport size photograph of each signatory;
• 1 (one) photocopy of NID/Smart Card/Passport of each signatory;
• 1 (one) attested photocopy of the Memorandum of Articles and Association;
• 1 (one) attested photocopy of the Board Resolution;
• Power of Attorney;
• 1 (one) photocopy of the MICR cheque leaf of the institute;
• 1 (one) photocopy of Institute’s eTIN (If applicable);
• 1 (one) photocopy of the Institute’s BO Setup/BO Acknowledgement (In case of investment in CDS Open End Mutual Funds).

For Benevolent/Provident/Mutual Funds:

• Filled up application form (KA form) of the fund;
• 1 (one) copy of passport size photograph of each signatory;
• 1 (one) photocopy of NID/Smart Card/Passport of each signatory;
• Attested signatory list;
• 1 (one) attested photocopy of the Board Resolution;
• 1 (one) attested photocopy of the Trust Deed;
• 1 (one) photocopy of the MICR cheque leaf of the fund;
• 1 (one) photocopy of Fund’s eTIN (If applicable);
• 1 (one) photocopy of the Fund’s BO Setup/BO Acknowledgement (In case of investment in CDS Open End Mutual Funds).

• CO: Charitable Organization
• RPF: Registered Provident Fund
• RTF: Registered Trust Fund
• CIP: Cumulative Investment Plan

You can easily get those from:

• IAMCL Head Office (Authorization letter is required if it is collected by any person other than the investor)
• Through the User A/c in the web portal of IAMCL
• Branches of ICB, ICB Capital Management Ltd., ICB Securities Trading Company Ltd. (If it is invested from there)
• Head Office or Branches of all other selling agents of IAMCL (If it is invested from there)

Yes, the investors will be entitled to Investment and Tax rebate for their investment here according to the Income Tax Act 2023.

The investors can redeem/repurchase the units of the Open End Mutual Funds by filling up the application form (available in IAMCL/ in our Selling Agents’ Office/in the website of IAMCL: www.icbamcl.com.bd or www.icbamcl.gov.bd) and with some other documents given as follows:

• 1(one) photocopy of Investors’ MICR cheque leaf;
• 1(one) photocopy of NID/Smart Card/Passport of the applicant;
• 1(one) copy of Investors’ DP-40 report (In case of redeem/repurchase in CDS funds).

The mutual funds of IAMCL generates variable return or dividend complying the Mutual Fund Rules-2001 of Bangladesh Securities and Exchange Commission (BSEC) along with following other accounting standards i.e. IFRS or BFRS.

Yes, the dividend of IAMCL’s Islamic Shariah based mutual funds comply with Islamic Shariah. IAMCL has a Shariah Advisory Board comprising with renowned scholars and practitioners of the country. The board looks into every detail of the fund with a standard set of Shariah based guidelines and after their purification and observation the Trustee of the fund declares the dividend.

Although every effort is made to minimize non-permissible or Haram income, when it cannot be avoided, the Shariah Advisory Board distributes it to a selection of charitable or other institutions in accordance with the applicable Shariah guidelines. This takes place prior to declarations being made to investors and does not form part of the investment income paid to investors. Therefore, the income you will receive is pure.

The fund's independent Shariah Advisory Board, which is made up of nationally renowned scholars, evaluates the appropriateness of any asset suggested by the fund managers. Every year, they issue Shari'ah certificates to confirm that the funds are in compliance. Furthermore, funds are audited by a Shariah Compliance Auditor to make sure that the management of the funds complies with Shariah and other guidelines that the Shariah Advisory Board has established.

Yes, IAMCL operates ICB AMCL Pension Holders’ Unit Fund which is designed for the Pension holders.

Persons who can invest in the fund:

The retired Honorable Judges of Bangladesh Supreme Court, employees of Government, Semi-Government, Autonomous Body, Sector Corporations, Nationalized Commercial Banks, Financial Institutions and Insurance Corporations, Defense Personnel, any Private Employees who are entitled for enjoying recognized provident fund, pension fund/superannuation fund and gratuity fund shall be eligible for investment in the ICB AMCL Pension Holders’ Unit Fund. Spouse/children of the above mentioned deceased service holders, nominees of the aforesaid schemes can also invest in the Fund. Retired employees of the Universal Pension Scheme are also eligible to invest in the Fund.

Lien is a type of Mortgage facility that is provided to the investors of IAMCL Open End Mutual Funds by ICB. The loan is calculated on the opening redeem/repurchase value of the fund which is a maximum of 80 (eighty) percent of that redeem/repurchase amount.