FIRST SECURITY ISLAMI BANK LIMITED

Company Profile: FIRST SECURITY ISLAMI BANK LIMITED

Nature of Business:

FIRST SECURITY ISLAMI BANK LIMITED is neither a factory nor a trading company. It is a private commercial bank operating under Islamic Shariah principles.

Company Introduction:

FIRST SECURITY ISLAMI BANK LIMITED (FSIBL) is a leading private commercial bank in Bangladesh, established on October 25, 1999. The bank is committed to providing a comprehensive range of modern and technology-driven banking services, strictly adhering to the principles of Islamic Shariah.

Headquartered in Dhaka, Bangladesh, FSIBL offers a wide array of financial products and services to individuals, small and medium-sized enterprises (SMEs), and corporate clients. These services include various deposit schemes, investment products (financing), foreign exchange services, trade finance (import and export), online banking, mobile banking, and ATM services, all designed to meet the diverse needs of its customers while ensuring compliance with Islamic ethical guidelines.

FSIBL's primary objective is to contribute to the socio-economic development of Bangladesh by offering ethical, transparent, and Shariah-compliant banking solutions. The bank focuses on fostering strong customer relationships through excellent service, innovative financial tools, and a robust network of branches and alternative delivery channels across the nation. It strives to be a trusted financial partner, promoting economic justice and social welfare in line with Islamic values.

FIRST SECURITY ISLAMI BANK LIMITED, being a financial institution, primarily offers a range of Shariah-compliant banking products and services rather than manufacturing or selling physical goods. These include:

Deposit Products:

Mudarabah Savings Account

Mudarabah Term Deposit (Fixed Deposit)

Al-Wadiah Current Account

Mudarabah Special Notice Deposit

Mudarabah Hajj Savings Scheme

Mudarabah Education Savings Scheme

Mudarabah Millionaire Savings Scheme

Mudarabah Monthly Savings Scheme

Mudarabah Monthly Income Scheme

Financing Products (Shariah-compliant alternatives to conventional loans):

Murabaha (Cost-plus sale for trade financing, asset financing)

Ijara (Leasing for assets like vehicles, machinery)

Musharakah (Partnership financing)

Mudarabah (Profit-sharing investment)

Bai-Muajjal (Deferred payment sale)

Istisna (Manufacturing finance)

Salam (Advance payment for future delivery of goods, often for agriculture)

Small and Medium Enterprise (SME) Financing

Agricultural Financing

Home and Real Estate Financing

Car Financing

Card Services:

Debit Cards (e.g., Visa, MasterCard)

Credit Cards (Shariah-compliant versions)

Digital Banking Services:

Internet Banking

Mobile Banking (App-based and USSD)

SMS Banking

Remittance Services:

Inward Remittance (from abroad)

Outward Remittance

Trade Finance Services:

Letter of Credit (LC) Issuance and Advising

Bank Guarantees

Export and Import Financing

Other Services:

Locker Services

Treasury Services

Agent Banking Services