Islami Bank Bangladesh Limited (IBBL)

Registered Name: Islami Bank Bangladesh Limited
Legal Status: Public Limited Company
Established: 1983
Category: Commercial Bank
Origin: Local Bank (with majority foreign shareholding)

Overview

Islami Bank Bangladesh Limited (IBBL) is the first Islamic bank in South and Southeast Asia, operating under the principles of Shariah-based banking. Incorporated on 13 March 1983 as a Public Limited Company under the Companies Act 1913, IBBL started its operations with a vision to provide interest-free banking and promote ethical investment in Bangladesh.

The bank has a unique ownership structure: 36.91% local shareholders and 63.09% foreign shareholders, making it one of the largest foreign investment institutions in the country’s banking sector. Over the decades, IBBL has built the largest branch and ATM network in Bangladesh and has become a pioneer in Islamic finance.

Services Offered

• Retail Banking – Savings, current, and Islamic deposit schemes.

• Corporate Banking – Trade finance, investment projects, and corporate accounts.

• NRB Banking – Specialized services for Non-Resident Bangladeshis (NRBs).

• SME Banking – Tailored financing for small and medium enterprises.

• Foreign Exchange – International trade settlement and remittance.

• Offshore Banking – Offshore financial services under special banking rules.

• Deposits – Shariah-compliant deposit products.

• Investments – Interest-free, profit-and-loss sharing investment schemes.

• Rural Development Scheme (RDS) – Microfinance program for poverty alleviation and rural empowerment.

• Locker Service – Safe deposit lockers for valuables.

Significance

IBBL is regarded as the largest private commercial bank in Bangladesh, both in terms of deposits and investment. It is a trendsetter in Islamic banking practices, contributing to financial inclusion, rural development, and ethical investment in Bangladesh’s economy.