Introducer:

Definition

The person interested to open an Al-wadiah Current Deposit account or a Mudaraba Savings Deposit Account or a Mudaraba Short Notice Deposit (MSND) Account in a Bank is required to provide the name and address of a referee from whom the banker may get necessary information (if requires) about the applicant. Such referee is known as introducer. The introducer must authenticate his/her introduction by putting his signature in the account opening form and on the back of the account holder's photograph and the same to be acceptable to the bank.
Persons eligible to be introducer:

An existing account holder of the Bank or a socially recognizable person or any person acceptable to the bank may be the introducer. After opening the account, the banker must send a letter of thanks to the introducer in his address given in the account opening form to confirm his identity.
Risks in opening account without proper introduction

The risks involved in the case of opening an account without proper introduction are as follows:

    The banker cannot avail the statutory protection.
    Risk in case of overdrafts: Ifa banker grants an overdraft even by mistake

or by negligence to a customer who is not properly introduced, he bears the risk of loss in case it is not repaid by the customer.

    Risk in case of bogus cheques: There are innumerable instances where fraudulent person got held of cheque books and successfully deceived businessmen by giving cheques in exchange for goods, without keeping sufficient money in the bank.

Nominee:

Nominee is nomination of a person nominated by the account holder who can take care of the account in the event of account holder's death. A nominee can be a family member or a friend or any other person.
Importance of appointment of Nominee of an Account:

Amount deposited by the customer must be returned by the bank to the successors if the account holder(s) dies. It is experienced that the payment from the deceased account to the respective successors of the deceased person is a very difficult job as it leads the banker to identify the successors properly observing due formalities as per law of land. Therefore a provision has been kept in "Section 103 of Banking Company Act-199l" for appointment of nominee(s) in the prescribed manner by the depositor(s) with the view to make it convenient to release balance of account after death of certain account holder(s). Beside this, Bangladesh Bank, vide their BRPD Circular No. 01, dated 14.01.2001 instructed all banking companies in Bangladesh to confirm the appointment of nominee invariably at the time of opening any deposit account.

In case of opening any deposit account, appointment of nominee is very important. Because-

. It helps the Bankers to disburse the amount of deceased account to the certain person(s) easily without requiring any succession certificate issued by the court or competent authority.

. It confirms the compliance of provision of Banking Company Act-1991 and instruction of Bangladesh Bank.

. Finally, unexpected hassle to find out the successors or any fraud and forgeries can be avoided if the nominee of the account is appointed beforehand.

Note:

. A nominee can be minor too. In that case, the depositor(s) shall mention the name of a person, who, on behalf of the nominee shall receive money after the death of account holder(s) if the nominee remains minor.

. Every person domicile in Bangladesh attains majority at the age of 18 (Eighteen)

. If a person domicile in Bangladesh, before he has completed the age of 18 (Eighteen) years, a guardian of his person or property or booth, has been appointed by a court, or the superintendence of his property is assumed by a court of ward, then he shall be deemed to have attained majority at the age of 21 years.