FIRST SECURITY ISLAMI BANK LTD

Company Type: Financial Institution (Bank)

First Security Islami Bank Ltd is a private commercial bank operating in Bangladesh. Established in 1999, it conducts its business activities based on Islamic Shariah principles. The bank offers a comprehensive suite of financial products and services, including various deposit schemes, financing facilities, trade finance, foreign exchange services, and other banking solutions for individuals, businesses, and corporations.

It is not a factory, as it does not manufacture any physical goods. It is also not a trading company that buys and sells commodities or products. Instead, it is a service provider in the financial sector, facilitating monetary transactions, providing credit, and managing funds for its clients.

FIRST SECURITY ISLAMI BANK LTD offers a range of Shariah-compliant financial products and services. These primarily include:

Deposit Products:

Mudarabah Savings Accounts

Mudarabah Term Deposit Accounts

Al-Wadiah Current Accounts

Mudarabah Special Notice Deposit Accounts

Mudarabah Hajj Savings Schemes

Mudarabah Millionaire Deposit Schemes

Mudarabah Monthly Savings Schemes

Mudarabah Double Benefit Deposit Schemes

Mudarabah Education Savings Schemes

Mudarabah Marriage Savings Schemes

Mudarabah Pension Savings Schemes

Financing Products (Shariah-compliant modes):

Murabaha (Cost-plus financing for various purposes like consumer durables, trade finance)

Ijarah (Leasing for assets like vehicles, machinery, real estate)

Musharakah (Partnership financing)

Mudarabah (Profit-sharing financing)

Bai-Salam (Advance payment for future delivery of goods)

Bai-Istisna'a (Manufacturing finance)

Quard (Interest-free loan for specific purposes)

SME Financing

Corporate Financing

Retail Financing (Home finance, auto finance, personal finance)

Agricultural Financing

Other Services:

Foreign Remittance Services

International Trade Finance (Import and Export services including Letter of Credit, Letter of Guarantee)

ATM and Debit Card Services

Internet Banking

Mobile Banking

SMS Banking

Locker Services

Treasury Services

Government Securities Trading

Bill Payment Services (Utility bills, etc.)

Islamic Credit Card (Based on various Shariah contracts like Ujrah)