ISLAMI BANK BANGLADESH LTD

Company Type: Financial Institution (Bank)

Company Introduction:

Islami Bank Bangladesh Ltd is a prominent private commercial bank in Bangladesh, established in 1983. It holds the distinction of being the first Islamic bank in Southeast Asia, pioneering the concept of banking operations based on Islamic Shariah principles in the region.

The bank offers a comprehensive array of financial products and services to individuals, corporations, and small and medium enterprises (SMEs). These services encompass various types of deposits, investments, foreign exchange, remittance services, corporate finance, project finance, and other banking facilities, all conducted in strict adherence to Islamic Shariah.

Islami Bank Bangladesh Ltd has grown to become the largest private bank in Bangladesh in terms of deposits, investments, and branch network, serving a vast customer base across the country. It plays a significant role in the socio-economic development of Bangladesh, making substantial contributions to trade, industry, agriculture, and rural development. The bank is also a major facilitator of foreign remittances, which are a crucial source of foreign exchange for the nation. Its commitment to ethical banking practices and community development distinguishes its operations within the financial sector.

ISLAMI BANK BANGLADESH LTD offers a wide range of Shariah-compliant banking products and services. These include:

Deposit Products:

Mudarabah Savings Accounts

Mudarabah Term Deposit Accounts

Al-Wadiah Current Accounts

Mudarabah Special Savings Accounts

Hajj Savings Accounts

Mudarabah Millionaire Schemes

Mudarabah Crore Schemes

Mudarabah Pension Schemes

Financing Products (based on Islamic modes):

Murabaha (Cost-plus sale) for trade, industry, working capital, and consumer goods

Mudarabah (Profit-sharing)

Musharakah (Equity participation)

Ijarah (Leasing) for assets and equipment

Bai-Salam (Advance payment for future delivery)

Bai-Istisna (Manufacturing finance)

Hire Purchase Under Shirkatul Melk (HP-SM) for vehicles and durable goods

SME Financing

Agricultural Financing

Rural Development Scheme Financing

Real Estate Financing

Card Services:

IBBL Debit Cards

IBBL Credit Cards (Shariah-compliant)

IBBL Prepaid Cards

Digital Banking Services:

Internet Banking

Mobile Banking (mCash)

SMS Banking

ATM Services

Online Account Opening

Remittance Services:

Inward and Outward Foreign Remittance

Trade Finance Services:

Letter of Credit (LC) Issuance and Advising

Bank Guarantees

Export Financing

Foreign Exchange Services:

Buying and Selling Foreign Currencies

Other Services:

Locker Services

Treasury Services

Investment Banking Services

Zakat Fund Management