ISLAMI BANK

Nature of Business:

Islami Bank Bangladesh Limited is a financial institution, specifically a commercial bank. It is neither a factory nor a trading company. Its primary business involves providing banking and financial services.

Enterprise Introduction:

Islami Bank Bangladesh Limited (IBBL) is a prominent private commercial bank in Bangladesh and a pioneer in Islamic banking in Southeast Asia. Established in 1983, it was the first interest-free bank in the region. IBBL operates strictly under Islamic Shariah principles, offering a comprehensive suite of banking products and services that comply with Islamic law. These services encompass various types of deposits, investment schemes (financing), foreign exchange transactions, international remittances, and other modern banking facilities, all structured to adhere to Shariah guidelines.

The bank is a key player in the financial sector of Bangladesh, contributing significantly to the country's socio-economic development. It boasts an extensive network of branches, sub-branches, and ATM booths nationwide, serving a large customer base. IBBL is committed to promoting a just and equitable economic system through its ethical, transparent, and socially responsible banking practices.

Islami Bank Bangladesh Limited offers or sells a wide range of Shariah compliant banking products and services. These include:

Deposit Products:

Mudaraba Savings Account

Mudaraba Special Savings Account

Mudaraba Hajj Savings Account

Mudaraba Millionaire Savings Scheme

Mudaraba Monthly Profit Deposit Scheme

Al-Wadiah Current Account

Mudaraba Short Term Deposit Account

Mudaraba Term Deposit Account

Mudaraba Waqf Cash Deposit Account

Various other special deposit schemes

Investment Products (Financing):

Murabaha (Cost Plus Profit Sale)

Mudaraba (Profit Sharing)

Musharaka (Partnership)

Ijara (Leasing)

Salam (Advance Purchase)

Istisna (Manufacturing Order)

These are applied across sectors like agriculture, industry, trade, real estate, small and medium enterprises (SME), and microfinance.

Cards:

Debit Cards

Credit Cards (Shariah compliant versions)

Prepaid Cards

Digital Banking:

Internet Banking (iBanking)

Mobile Banking (mCash)

SMS Banking

Remittance Services:

Inward Foreign Remittance

Outward Foreign Remittance

Trade Finance:

Import Financing (Letter of Credit L/C)

Export Financing

Local L/C

Other Services:

Locker Services

Treasury Services

Agent Banking

Rural Development Scheme (Microfinance)

ATM Services

Cash Management Services