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There are 10 Islami Shariah-based PCBs in Bangladesh and they execute banking activities according to Islami Shariah-based principles i.e. Profit-Loss Sharing (PLS) mode. [1] Exim Bank PLC; Al-Arafah Islami Bank PLC; First Security Islami Bank PLC; Global Islami Bank PLC; ICB Islamic Bank PLC; Islami Bank Bangladesh PLC; Shahjalal Islami Bank PLC
The Bank was founded as NRB Global Bank on 25 July 2013 targeting not resident Bangladeshis. [6] Bangladesh Bank provided licenses to nine banks including NRB Global Bank in 2013 on the condition that the bank will eventually list on the stock market. [7] On 14 August 2013, Md Abdul Quddus was appointed managing director of NRB Global Bank. [8]
As of 2017, Islami Bank Bangladesh commands 90% of Islamic-banking assets and deposits in Bangladesh, is the country's biggest private lender overall, has 12 million depositors and a balance-sheet of $10 billion. [7]
It has 133 branches. [1] The bank is a licensee to issue Visa and MasterCard Debit and Credit Cards and it is the sole licensee of American Express Cards in Bangladesh. [4] The bank is a real-time online bank, having its branches, SME/Agri branches spread across Bangladesh along with a full-fledged Islami Banking branch.
ICB Islamic Bank was established in 1987 and started operations on 20 May 1987 as Al-Baraka Bank. [5] [6] The bank listed on Dhaka Stock Exchange in 1990. [7] By 1994, the bank ran into financial troubles. [6] In 2004, the bank was reorganized and renamed to Oriental Bank. [6]
"Branch has provided Walmart and their driver partners valuable services allowing quick and easy access to funds via their business accounts — a key fact the bureau's press release omits," it said.
A security officer of Al-Arafah Islami Bank PLC. was killed in May 2015 during a bank robbery attempt in Chittagong. [10] The Bank signed an agreement with Islamic Development Bank, based in Saudi Arabia, for investment. [11] In May 2016, Abdus Samad, vice-chairman of S. Alam Group, was elected chairman of Al-Arafah Islami Bank PLC. [12]
NRBC Bank PLC. was established on 2 April 2013. [5] It was launched at Sonargaon Hotel and at the time was the first NRB bank of Bangladesh. [6]In April 2016, Farasath Ali was re-elected chairman of the bank and Toufique Rahman Chowdhury, founder of Metropolitan University, Sylhet, was reelected vice chairman of the bank.