Islami Bank Bangladesh Limited
Job Category: Banking/Non-Banking
Job Source: Bangladesh Daily
Posted On: 18 Jul 2023
Application Deadline: 3 Aug 2023
Islami Bank Bangladesh Limited (IBBL) is the first Shariah-based bank in Bangladesh. It was established on March 30, 1983, with the aim of providing banking services in compliance with Islamic principles. The bank is governed by a Shariah Board consisting of renowned Islamic scholars and economists.
IBBL operates under the principles of participatory banking, profit-sharing, and risk-sharing. It offers a wide range of banking products and services, including deposit accounts, investment schemes, trade finance, remittance services, and project financing. The bank follows a unique model where it shares profits and losses with its clients, ensuring a fair and equitable distribution of wealth.
One of the key features of IBBL is its commitment to social responsibility. The bank focuses on promoting economic development, poverty alleviation, and social welfare through various initiatives. It provides interest-free loans to small and medium-sized enterprises (SMEs) and agricultural projects, empowering local entrepreneurs and farmers. Additionally, IBBL supports education, healthcare, and other social development programs to uplift underprivileged communities.
IBBL has been successful in establishing a strong presence in the banking sector of Bangladesh. It has a network of over 350 branches across the country, providing banking services to a diverse range of customers. The bank also has a significant presence in international markets, with branches in different countries, including the United Kingdom, Qatar, and Bahrain.
As a pioneer in Islamic banking, IBBL has played a crucial role in shaping the financial landscape of Bangladesh. It has introduced innovative products and services that cater to the needs of both individuals and businesses. The bank offers various types of deposit accounts, such as Mudaraba Savings Account, Mudaraba Term Deposit Account, and Mudaraba Special Notice Deposit Account, which provide attractive returns for customers.
IBBL's investment schemes are designed to promote ethical and responsible investment practices. The bank offers different modes of investment, including Mudaraba, Musharaka, and Bai-Muajjal, to cater to the diverse needs of its clients. These investment schemes provide financing for various purposes, such as trade, agriculture, real estate, and infrastructure development.
IBBL has also made significant contributions to the development of the capital market in Bangladesh. It has established an investment subsidiary, Islami Bank Securities Limited, which provides brokerage services and facilitates investment in the stock market. This subsidiary has played a vital role in attracting local and foreign investors to the capital market, contributing to its growth and development.
In recognition of its outstanding performance, IBBL has received numerous awards and accolades over the years. The bank has been recognized as the Best Islamic Bank in Bangladesh by various international organizations, including Global Finance and Islamic Finance News. These awards reflect the bank's commitment to excellence and its efforts to provide innovative and customer-centric banking solutions.
In conclusion, Islami Bank Bangladesh Limited is a pioneering institution in the field of Islamic banking. It has successfully established itself as a leading bank in Bangladesh, providing Shariah-compliant banking services to a wide range of customers. With its commitment to social responsibility and innovation, IBBL continues to contribute to the economic development and welfare of the country.
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