Islami Bank Bangladesh PLC

Islami Bank Bangladesh PLC (IBBPLC) is the largest commercial bank of Bangladesh. It is the first Shariah-based Islamic bank in South-East Asia established in March 1983. The Bank is a joint venture Public Limited Company with majority shareholding by foreign institutions and enlisted with Dhaka & Chattogram stock exchanges. With 394 branches, 237 sub-branch & 2722 Agent Banking Outlets, the Bank possesses the largest branch network among the private sector banks in Bangladesh. It renders general banking, commercial investment and foreign exchange services with substantial CSR activities. Besides, the Bank is a global pioneer in and largest operator of Islamic microfinance.

To establish Islamic Banking through the introduction of a welfare oriented banking system and also ensure equity and justice in the field of all economic activities, achieve balanced growth and equitable development through diversified investment operations particularly in the priority sectors and least developed areas of the country. To encourage socio-economic upliftment and financial services to the loss-income community particularly in the rural areas.

It was founded by Saudi and Kuwaiti investors who provided 70 percent of the initial capital. It is a public limited company registered under the Bank Companies Act of 1913. IBBPLC is a joint venture of the government of Bangladesh, 22 businessmen of Bangladesh, Islamic Development Bank, and investment firms and banks from Muslim Middle Eastern countries. According to The Economist, “Islami Bank was a pioneer in financing Bangladesh’s rise as the apparel industry’s main production base outside China.”