I.B.B.L.

Company Introduction:

Islami Bank Bangladesh Limited, commonly known as IBBL, is a leading private commercial bank in Bangladesh. Established in 1983, it was the first Islamic bank in Southeast Asia and a pioneer in Islamic banking in Bangladesh. IBBL operates under Shariah principles, offering a wide range of banking and financial services including deposits, loans, foreign exchange, remittance, and investment banking, all compliant with Islamic law. It serves individuals, small and medium enterprises (SMEs), and corporate clients through an extensive network of branches, sub-branches, and ATM booths across the country. The bank is committed to socio-economic development through ethical banking practices and corporate social responsibility initiatives.

Company Type:

IBBL is a bank. It is neither a factory nor a trader. It is a financial institution providing banking services.

ISLAMI BANK BANGLADESH PLC (IBBL) PRODUCTS AND SERVICES

As a premier Islamic financial institution in Bangladesh, Islami Bank Bangladesh PLC (IBBL) does not manufacture physical goods. Instead, it offers and "sells" a wide range of Shariah-compliant financial products, investment schemes, and digital banking services.

Below is the list of products and services offered by IBBL:

DEPOSIT PRODUCTS

1. Mudaraba Savings Account (MSA): A profit-sharing savings account for general depositors.

2. Al-Wadeah Current Account (AWCA): A non-profit-bearing transaction account based on the Al-Wadeah principle (safekeeping).

3. Mudaraba Term Deposit Receipt (MTDR): A fixed-term deposit account offering profit at maturity.

4. Mudaraba Special Savings Scheme (MSSS): A monthly deposit-based pension scheme.

5. Mudaraba Hajj Savings Scheme (MHSS): A savings plan designed for performing the holy Hajj.

6. Mudaraba Savings Bond (MSB): A medium to long-term investment bond for individual and institutional investors.

7. Mudaraba Waqf Cash Deposit Account: A perpetual deposit scheme where profit is spent on designated charitable purposes.

INVESTMENT AND FINANCING PRODUCTS

1. Bai-Murabaha: Cost-plus sale financing, where the bank purchases goods and sells them to the client with a declared profit margin.

2. Bai-Muajjal: Deferred payment sale financing for purchasing raw materials, machinery, or merchandise.

3. Hire Purchase under Shirkatul Melk (HPSM): Joint ownership leasing, commonly used for purchasing vehicles, machinery, apartments, and equipment.

4. Bai-Salam: Advance payment financing for agricultural products or manufactured goods.

5. Istisna: Financing for manufacturing, construction, or structural development.

6. Musharaka: Equity partnership financing where profits and losses are shared based on an agreed ratio.

7. Mudaraba: Profit-sharing investment where the bank provides capital and the entrepreneur provides expertise.

CARD PRODUCTS

1. Khidmah Credit Card: Bangladesh's first Shariah-compliant credit card, operating on a fee-based system instead of interest.

2. Visa and Mastercard Debit Cards: Cards linked directly to savings or current accounts.

3. Prepaid Cards: Gift cards, travel cards, and virtual cards for secure online shopping.

DIGITAL AND RETAIL BANKING Services

1. CellFin: An omni-channel digital wallet app providing instant bank account opening, fund transfers, utility bill payments, and mobile recharges.

2. iBanking: Comprehensive internet banking services for personal and corporate clients.

3. Agent Banking: Banking services extended to rural and remote areas through authorized agents.

4. SMS Banking and ATM Services: Real-time transaction alerts and 24/7 cash withdrawal facilities.

INTERNATIONAL BANKING AND REMITTANCE

1. Foreign Currency Accounts: Accounts for expatriates, exporters, and foreign nationals.

2. Foreign Remittance Services: Facilities for receiving funds safely and quickly from abroad.

3. Trade Finance: Letters of Credit (L/C), post-import financing, and export financing for international trade.