Social Islami Bank PLC (সোশ্যাল ইসলামী ব্যাংক পিএলসি) is a prominent Shariah-based commercial bank in Bangladesh, offering a range of Islamic banking products and services. Established with the goal of fostering ethical banking practices, SIBL operates under the principles of Islamic finance, which prohibits interest (Riba) and focuses on profit-sharing, risk-sharing, and ethical investments. Social Islami Bank PLC is committed to providing innovative Islamic banking solutions while adhering to ethical and moral standards rooted in Shariah principles. Through its diverse product offerings and modern banking facilities, SIBL plays a significant role in the financial inclusion and economic development of Bangladesh.
Overview of Social Islami Bank PLC:
Social Islami Bank PLC (সোশ্যাল ইসলামী ব্যাংক পিএলসি) is one of the leading Shariah-based commercial banks in Bangladesh. Established in 1995, SIBL is committed to promoting and implementing Islamic banking principles, which prohibit the payment or acceptance of interest (Riba) and are based on the concepts of profit-sharing, ethical investments, and risk-sharing. The bank’s primary focus is on fostering economic development through ethical finance, financial inclusion, and the development of the underprivileged segments of society.
SIBPLC’s operations are governed by a Shariah Supervisory Board to ensure compliance with Islamic principles. Social Islami Bank PLC (SIBPLC) stands out for its commitment to providing Islamic banking solutions while playing a critical role in Bangladesh’s socio-economic development. With a focus on ethical and inclusive finance, modern technology, and community-oriented initiatives, SIBPLC continues to grow as a leading player in the country’s banking sector.
See also:
❏ Banks in Bangladesh
Social Islami Bank PLC at a glance: | |
| Bank Name | Social Islami Bank PLC (সোশ্যাল ইসলামী ব্যাংক পিএলসি) |
| Logo |  |
| Legal Status | Public Limited Company |
| Established | 1995 |
| Type | Private Bank |
| Category | Commercial Bank & Islamic Bank |
| Origin | Local Bank |
| Address | City Center, Level: 19-23, 28 and 29, 90/1, Motijheel Commercial Area, Dhaka-1000, Bangladesh |
| Call Center | 16491, +880 96 12001122 |
| Telephone | +880 961 200 1122 |
| PABX | |
| Fax | +880 2 7113481 |
| Bank Code | 195 |
| Stock Code | SIBL – DSE CSE |
| SWIFT Code | SOIVBDDH |
| info@sibl-bd.com | |
| Website | www.siblbd.com |
| Service Hours | Business day (Sun ~ Thu) 10:00 am ~ 4:00 pm * (Fri ~ Sat) Closed |
| Services |
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History of Social Islami Bank PLC:
Social Islami Bank PLC (SIBPLC) – সোশ্যাল ইসলামী ব্যাংক পিএলসি (পিএলসি) an interest free leading value-added financial institution based on Shariah’ Principles islami bank in Bangladesh. It commenced banking activities on 22 November, 1995 under the Companies Act 1994. The founding initiators of the bank were Dr. Hamid Ali (former general secretary of OIC), Dr. Omar Nasif (former general secretary of RABETA and deputy speaker of Saudi Arabia), Saleh Jamjum (former Commerce Minister of Saudi Arabia), Islami International Fund (IIF) and International Islami Relief Foundation (IIRO).
SIBPLC comprises of SIBPLC Securities Ltd, SIBPLC Investment Ltd, SIBPLC Foundation Hospital. The three-tier banking model (Formal, Non-formal & Voluntary), the first of its kind in the banking arena of Bangladesh, brings a new dynamism in welfare banking targeting eradication of poverty of the country with a motto of “Working Together for a Caring Society”. Working closely with our valued clients and stakeholders to provide them one-stop services, access to the very latest products using technology. Our unrivaled customer services has made us unparalleled in the industry. They build a long-term business partnership with their clients helping them grow profitable.
A 13-member board of directors headed by a chairman approves business policy, supervise administration and management of the bank. There is a 5-member Shariah Council of the bank to ensure the compliance of Islamic rules in its activities. Besides a foreign honorary international advisory council is consist of 13 members provides direction and adviser the bank on international banking business affairs. They are always ready to serve you with 4000 employees in 180 branches and 236 subbranches across the country. It has also 375 Agent Banking Outlets to cater financial services to the remotest parts of the Land.
The strong conviction to create a caring society is the cornerstone of SIBPLC’s all activities. They feel a strong affinity to the emotions of people. They believe that only banking activities can’t usher our society to a just and equitable stage. Thus they are extensively engaged in CSR activities on humanitarian grounds. They work in the fields such as from poverty eradication to family empowerment. Unlike others, the Bank’s criteria for success are not only the key objective to make profit but also landmarks to become the country’s most humanitarian and complete Bank.
In the voluntary sector, Social Islami Bank starts ‘Cash Waqf Certificate’ scheme as the process to form the social capital. The capital of cash waqf has been deposited permanently in the bank. Only the profit of that amount consumes in different social welfare activities like family rehabilitation, education, health, and social utilities on the basis of Islamic sharia. Moreover, the bank helps paralyzed people through CRP, provides spectacles and removed the cataract of poor people by a surgical operation through sight savers, established a child-friendly ward in the Bangladesh National Blind Welfare Samity Hospital, provide treatment of eye-damaged poor people through Fashion Eye Hospital and provide scholarship, books, shoes, school bag to the poor but meritorious students of different schools. Provide financial aid to the voluntary institutions, different social welfare institutions engaged with handicapped people, Bangladesh Cancer Foundation Hospital and Kidney Foundation.
As a part of modern banking system, it provides online banking services with other Islami banks through first banking institution, SIBL makes a bridge between non-formal and formal sectors through offering investment facilities doing the upgradation of SME entrepreneurs.
Services Offered by Social Islami Bank PLC (SIBPLC):
Social Islami Bank PLC (SIBPLC) is a leading Shari’ah-based bank in Bangladesh, providing a wide range of financial products and services that align with Islamic principles. The bank operates with a vision of achieving a balanced development of the economy through socially responsible banking.
Key Services:
- Retail Banking:
- Deposit Schemes: Savings accounts, Mudaraba term deposit schemes, and various specialized savings plans.
- Investment Schemes: Islamic-compliant investment schemes like Mudaraba savings and profit-sharing plans.
- Debit & Credit Cards: Islamic Shari’ah-compliant debit cards and credit cards.
- Home and Auto Finance: Islamic home finance (Household Durable Investment) and car finance products.
- SME Banking:
- SME Investment: Financial products tailored for small and medium enterprises, including working capital finance and term loans under Islamic principles.
- Agriculture and Rural Financing: Supporting agriculture-based businesses and rural communities through Shari’ah-compliant financing models.
- Corporate Banking:
- Working Capital Finance: For corporate clients needing liquidity management, structured under Islamic banking laws.
- Project Financing: For large-scale projects, especially in industrial and infrastructure sectors, based on profit-sharing (Musharaka) and lease-based models (Ijarah).
- Trade Services: Facilitating import and export through Islamic trade finance solutions such as Letter of Credit (LC) and Murabaha.
- Islamic Investment Banking:
- Capital Market Services: Investment in equity markets through Islamic investment principles.
- Advisory Services: Offering corporate advisory and structuring services that comply with Islamic law.
- Remittance Services:
- Facilitating quick and reliable remittance services for overseas Bangladeshis through various channels.
- Mobile and Internet Banking:
- SIBL NOW: Offering real-time banking services via mobile and internet, including balance inquiries, fund transfers, bill payments, and mobile top-up services.
- Agent Banking:
- Extending banking services to rural areas through a network of agents, focusing on financial inclusion and reaching underserved communities.
- Islamic Insurance (Takaful):
- Offering Islamic insurance products through partnerships with Islamic insurance providers.
Specialized Services:
- Hajj and Umrah Services: Providing financial solutions for pilgrimage-related expenses.
- Zakat and Charity Fund Management: Assisting customers with Zakat calculation and distribution to ensure compliance with Islamic obligations.
Social Islami Bank PLC (SIBPLC) emphasizes socially responsible banking while fostering economic growth by adhering strictly to Islamic financial principles.
Contact
Social Islami Bank PLC, Head Office: City Center, Level: 19-23, 28 and 29, 90/1, Motijheel Commercial Area, Dhaka-1000, Bangladesh or contact any Branch/ Sub-Branch/ Agent Banking Outlet of the Bank
✆ Call Center: 16491, +880 96 12001122
Telephone: +880 961 200 1122
Fax: +880 2 7113481
Bank Code: 195
SWIFT Code: SOIVBDDH
Email: info@sibl-bd.com
Website: www.siblbd.com
