Islami Bank Bangladesh

Islami Bank Bangladesh PLC (IBBPLC), also known as IBBL, is a commercial bank operating in Bangladesh. The bank’s official website describes it as the country’s largest commercial bank and says it was established in March 1983 as the first Shariah-based scheduled commercial bank in South and South-East Asia. It is a joint-venture public limited company, with shares listed on the Dhaka and Chattogram stock exchanges. The bank says it provides commercial banking services in accordance with Islamic Shariah principles. Its activities also include offshore banking, mobile financial services, agent banking, subsidiary companies and corporate social responsibility work. The official site describes it as a global pioneer and the largest operator of Islamic microfinance. Its stated network includes branches, sub-branches and agent banking outlets across Bangladesh. Its product range includes deposit accounts structured around Mudaraba and Al-Wadiah principles, as well as corporate services. Examples of deposit offerings listed on the website include savings, pension, monthly-profit, term-deposit, Muhor-savings and Hajj-savings accounts. The site also highlights salary payment and payment-transfer facilities for corporate customers. Recent items featured on the homepage include a Hajj Agent Kafela Card, co-branded debit cards for Jagannath University students, and a refinancing agreement with Bangladesh Bank. The bank’s current ownership details, headquarters, and named senior executives are not established by the supplied evidence.

The supplied official homepage states that Islami Bank Bangladesh PLC was established in March 1983. It characterizes the institution as the first Shariah-based scheduled commercial bank in South and South-East Asia. The available evidence does not identify individual founders or provide a detailed account of the bank’s early formation. The bank operates as a joint-venture public limited company. Its shares are listed on the Dhaka and Chattogram stock exchanges. The homepage describes it as Bangladesh’s largest commercial bank and reports a network of 400 branches, 271 sub-branches and 2,793 agent banking outlets. These figures are presented in the supplied homepage text; no date for the figures is given there. Its stated business has developed beyond conventional branch banking to include commercial banking under Islamic Shariah principles, offshore banking, mobile financial services, agent banking and subsidiary companies. The bank also reports substantial corporate social responsibility activities and describes itself as a global pioneer and the largest operator of Islamic microfinance. The deposit-products page describes accounts based on Mudaraba, a profit-and-risk-sharing principle, and Al-Wadiah. The examples shown include savings, pension, monthly-profit, term-deposit, Muhor-savings and Hajj-savings accounts. For Mudaraba accounts, the page says the bank distributes a minimum of 65% of its investment income among those accounts according to weightage; profit rates are variable, provisional payments are made twice a year, and amounts are adjusted after final annual profit calculation. The homepage’s current featured updates include the launch of a Hajj Agent Kafela Card and co-branded debit cards for Jagannath University students, as well as an announced refinancing agreement with Bangladesh Bank. The supplied material does not establish the dates of these items, the bank’s current headquarters, detailed ownership beyond its joint-venture description, or the names of its executives.

• 1983

  Established in March as a Shariah-based scheduled commercial bank

• Listed on the Dhaka and Chattogram stock exchanges

• Homepage reports a nationwide network of branches, sub-branches and agent banking outlets

• Homepage features launches of a Hajj Agent Kafela Card and co-branded debit cards for Jagannath University students

A large Bangladesh commercial bank differentiated by Shariah-based banking, a broad domestic service network, and Islamic microfinance.

• Mudaraba Savings Account (MSA)

• Mudaraba Special Savings (Pension) Account (MSSA)

• Mudaraba Monthly Profit Deposit Account (MMPDA)

• Mudaraba Term Deposit Account (MTDR)

• Mudaraba Muhor Savings Account (MMSA)

• Mudaraba Hajj Savings Account (MHSA)

• Hajj Agent Kafela Card

• Co-branded debit cards for Jagannath University students

1. 1Islami Bank Bangladesh PLC.islamibankbd.com
2. 2Corporate Services | Islami Bank Bangladesh PLC.islamibankbd.com
3. 3Deposit Products | Islami Bank Bangladesh PLC.islamibankbd.com
4. 4Concept and Ideology | Islami Bank Bangladesh PLC.islamibankbd.com