ISLAMIC BANK BANGLADESH LTD

ISLAMIC BANK BANGLADESH LTD is a bank.

Company Introduction:

Islamic Bank Bangladesh Limited (IBBL) is a leading private commercial bank in Bangladesh, established on March 13, 1983. It was the first Islamic bank in Southeast Asia and a pioneer in introducing Islamic banking principles in Bangladesh. IBBL operates under the principles of Islamic Shariah, offering a wide range of banking products and services that are compliant with Islamic law, such as Mudaraba, Musharaka, Murabaha, and Ijara.

The bank provides services including retail banking, corporate banking, foreign exchange, and treasury operations. It caters to a diverse customer base, from individual depositors and small and medium enterprises (SMEs) to large corporations. With a vast network of branches, sub-branches, and ATM booths across the country, IBBL plays a significant role in the financial sector of Bangladesh, promoting ethical and interest-free financial practices. It is committed to socio-economic development through its various financial products and services, aiming to achieve welfare-oriented economic activities.

Islamic Bank Bangladesh Ltd (IBBL) primarily provides a wide range of Shariah-compliant banking and financial products and services. These include:

Deposit Products

Mudaraba Savings Account

Al-Wadiah Current Account

Mudaraba Term Deposit Account (MTDR)

Mudaraba Special Savings Account (e.g., Pension Scheme, Hajj Savings, Education Savings)

Foreign Currency Deposit Accounts

Non-Resident Bangladeshi (NRB) Accounts

Investment (Financing) Products

Murabaha (Cost-plus financing)

Ijara (Leasing)

Musharaka (Partnership financing)

Bai-Salam (Advance payment for future delivery)

Bai-Muajjal (Deferred payment sale)

Istisna'a (Manufacturing finance)

Housing Investment Scheme

Car Investment Scheme

Small and Medium Enterprise (SME) Investment

Agricultural Investment

Rural Development Scheme

Industrial Investment

Card Services

IBBL Debit Cards (Visa, MasterCard)

IBBL Shariah-compliant Credit Cards (Visa, MasterCard)

Prepaid Cards

Digital Banking Services

IBBL iBanking (Internet Banking)

mCash (Mobile Banking Service)

SMS Banking

ATM Services (Cash withdrawal, balance inquiry, fund transfer)

Online Utility Bill Payment

Trade Finance Services

Import Financing (e.g., Letter of Credit - LC)

Export Financing (e.g., Export Bills Purchase, Pre-shipment finance)

Local and Foreign Guarantees

Remittance Services

Inward Remittance (Sending money from abroad to Bangladesh)

Outward Remittance (Sending money from Bangladesh abroad, for approved purposes)

Other Banking Services

Locker Services

Bank Guarantees

Pay Orders and Demand Drafts

Collection of Bills and Cheques

Treasury Functions