Dhaka, Bangladesh (BBN) – The principles of Islami banking and regulations of Islami Shariah will be complied strictly in running the Islami Bank Bangladesh Limited (IBBL), said Arastoo Khan, the newly elected chairman of the bank on Sunday.
The deposit, investment and all other activities of the bank will be conducted as per Shariah rules and interest-free and profit-loss-sharing principles, Khan said.
The IBBL chairman made the comments while formally exchanged views with the media in a press briefing at Islami Bank Tower Sunday, said a press statement of the bank.
The preamble of the bank will be followed, without change, he added.
He also urged the media to convey this message to bank’s customers, stakeholders and people of the country.
The bank’s investment will be diversified in the secured and welfare sectors, he added.
The trust, confidence and love to Islami bank of the religion-loving people of Bangladesh made this bank a success one, he told the briefing.
The first interest free bank of the south and south-east Asian region through its success validated that the system of Shariah based banking is possible, he said adding that system has come into reality through establishing Shariah based banking over the last three decades.
The bank’s CSR will be deployed for the betterment of poor, destitute and hapless people with priority in education and health sector, the statement added.
Special attention will be given to enhance the safeguard of depositors and staff facilities, he added.
Prof Syed Ahsanul Alam, vice chairman of the bank; Major General (Rtd) Engr Abdul Matin, chairman of the Executive Committee; Dr Md Zillur Rahman, chairman of the Audit Committee; Md Abdul Mabud, PPM and chairman of the Risk Management Committee; Professor Dr Qazi Shahidul Alam, director of the bank; and Md Mahbub-ul-Alam, acting managing director of the bank; along with top executives of the bank were present at the briefing.