Islam is the complete code of life. It has rules and guidelines for every section of individual, social, national and international life and these guidelines are perpetual. It addresses human problems by divine solutions. Economics is an integral part of human life for which Islam gives unique guidelines. Islamic banking is an essential part of Islamic Economy. Principles of Islamic Shariah are the main guideline of Islami Banking. It avoids charging or giving interests in all its operations and aims at welfare-based banking.
To provide Islamic Banking service to the valued clients with the latest Islamic banking products, AB Bank opened it’s first “Islami banking Branch” on 23rd December 2004. The branch is now located at 82, Kakrail, Ramna, Dhaka. The branch is being operated duly complying with the principles of Islamic Shariah and the guidelines of Islamic Banking, given by Bangladesh Bank, the central bank of the country as well as follow the standard rules & procedures of banking both at home and abroad and other operational procedures of the Bank.
The branch has been running its business under active guidance of a competent Shariah Supervisory Committee consisting of Islamic scholars, Ulema, Fukaha and Islamic Bankers headed by Janab M. Azizul Huq prominent Islamic banker & founder CEO of Islami Bank Bangladesh Ltd. the first Islamic Bank of South-East Asia. A dedicated team of experienced Islamic bankers has been working under his prudent guidance. We are also a member of Islamic Banks Consultative Forum (IBCF) and Central Shariah Board for Islamic Banks of Bangladesh.
Funds related to Islami Banking Branch is kept totally separate from conventional operation maintaining separate books of accounts. We also maintain separate Al-Wadiah Current Account with Bangladesh Bank to manage long term and short term funds. In brief AB’s Islamic banking operation is completely based on Islamic Shariah, free from Riba(interest) and separate from it’s conventional operation.
AB Bank Islami Banking has been trying to provide excellent banking services to the valued client complying with the Shariah rules and banking norms. Day by day our business volume has been increasing which has strengthened us to provide competitive profit to the valued depositors as well as attractive investment facilities for the investment client.
For our Islamic banking operation following basic principles of Islamic banking is being followed: