Shahjalal Islami Bank

Summary

Shahjalal Islami Bank PLC is a shariah-compliant private commercial bank headquartered in Dhaka, Bangladesh. ¹ It was incorporated on 10 May 2001, and the Shahjalal Islami Bank Foundation is its corporate social responsibility arm. ¹

Management

Bangladeshi business figures have chaired its board in turn, among them Anwer Hossain Khan in 2011 and A. K. Azad of Ha-Meem Group in 2015, who was elected again in February 2024 and re-elected in January 2025. ¹

Cases

In 2012 the Anti-Corruption Commission sued a former vice-president and five others for embezzling 131.7 million taka, and in 2014 it arrested a director and former chairman on charges of embezzling 1.4 billion taka through bad loans. ¹ In 2015 and 2016 it charged borrowers and a former deputy managing director with embezzlement through fake letters of credit. ¹ The Daily Star reported that Prashanta Kumar Halder used the bank to launder money from his embezzlement. ¹

References

English Wikipedia, "Shahjalal Islami Bank", revision 1359480281. ¹

Islamic banks and conventional banks — the difference, the doubts and the performance

The two 'Al-Wasatiyya' episodes on Islamic banks. In the first, 56% of the studio audience said they could not define riba, 79% that they knew nothing of the murabaha, mudaraba, tawarruq and salam contracts, and they split into thirds on whether Islamic banks are free of doubt; in the second, 65% chose to buy by murabaha from an Islamic bank, 57% thought abolishing riba impossible while the world economy runs on interest, and 49% judged Islamic banks' social role weaker. The guests agreed that conventional bank interest is riba and differed over the existing Islamic banks.

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Islamic banks and conventional banks — the difference, the doubts and the performance