SOCIAL ISLAMI BANK LTD

Company Type:

Social Islami Bank Limited is a financial institution, specifically a Shariah-compliant commercial bank. It is neither a factory nor a trading company.

Company Profile:

Social Islami Bank Limited (SIBL) is a prominent Shariah-compliant commercial bank operating in Bangladesh. Established in 1995, SIBL is committed to providing a comprehensive range of banking products and services in strict adherence to Islamic Shariah principles. The bank caters to a diverse clientele, including individuals, small and medium enterprises (SMEs), and corporate entities. Its offerings encompass various deposit schemes, investment and financing products, foreign exchange services, trade finance, and other conventional banking facilities, all structured to comply with Islamic finance guidelines. SIBL aims to contribute to the socio-economic development of Bangladesh by fostering ethical banking practices, ensuring customer satisfaction, and promoting community welfare through its extensive network of branches and alternative banking channels across the country.

Social Islami Bank Ltd (SIBL) offers a comprehensive range of Shariah-compliant banking products and services. These include various deposit accounts such as Mudaraba Savings Account, Mudaraba Special Notice Deposit, Mudaraba Term Deposit, Mudaraba Hajj Savings Scheme, Mudaraba Millionaire Scheme, Mudaraba Double Millionaire Scheme, Mudaraba Monthly Savings Scheme, Mudaraba Monthly Income Scheme, Al-Wadiah Current Account, and Foreign Currency Accounts. For financing and investment, the bank provides Murabaha for consumer durables, business working capital, and other purposes; Bai-Muajjal; Hire Purchase under Shirkatul Melk (HPSM) for housing, vehicles, and machinery; Ijara (leasing); Salam; Istisna; Small and Medium Enterprise (SME) Financing; Agricultural Financing; Women Entrepreneur Financing; Project Financing; and Trade Finance encompassing import, export, and local Letters of Credit. Digital banking services include Internet Banking, Mobile Banking through the SIBL NOW App, SMS Banking, and ATM services. The bank also issues Debit Cards, Credit Cards, and Prepaid Cards. Other key services offered are Inward Foreign Remittance, Outward Foreign Remittance, Locker Services, Bills Collection, Government Treasury Functions, Pay Order and Demand Draft facilities, and SWIFT services.