List of Islamic Commercial Private Banks in Bangladesh

Islami Bank Bangladesh Limited is a Joint Venture Public Limited Company engaged in commercial banking business based on Islamic Shari'ah with 63.09% foreign shareholding having largest branch network ( total 332 Branches) among the private sector Banks in Bangladesh. It was established on the 13th March 1983 as the first Islamic Bank in the South East Asia.

It is listed with Dhaka Stock Exchange Ltd. and Chittagong Stock Exchange Ltd. Authorized Capital of the Bank is Tk. 20,000.00 Million and Paid-up Capital is Tk. 16,099.90 Million having 33,686 shareholders as on 31st December 2016.

2. Al-Arafah Islami Bank Limited:

Al-Arafah Islami Bank Limited is a sharia compliant bank in Bangladesh founded on 27 September 1995. A sharia council of the bank is responsible for ensuring the bank activities meet sharia requirements. The headquarters are located in Motijheel, Dhaka.

3.Exim Bank (Bangladesh):

The Bank starts functioning from 3rd August, 1999 with its name as Bengal Export Import Bank Limited. On 16th November 1999, it was renamed as Export Import Bank of Bangladesh Limited with Mr. Alamgir Kabir as the Founder Advisor and Mr. Mohammad Lakiotullah as the Founder Managing Director respectively. Both of them have long experience in the financial sector of our country. By their pragmatic decision and management directives in the operational activities, this bank has earned a secured and distinctive position in the banking industry in terms of performance, growth, and excellent management. Under the leadership of Mr. Lakiotullah, the Bank has migrated all of its conventional banking operation into Shariah Based Islami Banking in the year July 2004. 

4.First Security Islami Bank Limited:

First Security Islami Bank Limited was incorporated on 29 August 1999 as a commercial bank. It started operations on 25 October 1999 with an authorized capital of 1 billion taka. From 2009 the bank started sharia banking.[2] Bangladesh Sports Press Association (BSPA) in 2014 awarded the bank best sponsor.[3] The Bank sponsored the National School Hockey Tournament.

5.ICB Islamic Bank Limited:

The Bank has been incorporated on April, 1987 as a public limited company under the Companies Act, 1913 to undertake and carry out all kinds of banking, financial and business activities, transactions and operations in strict compliance with the principles of Islamic Law (Shariah) relating to business activities in particular avoiding usury in credit and sales transactions and any practice which amounts to usury. Certificate for commencement of business has been issued to the bank on April, 30, 1987. The Bank has been authorized by the Bangladesh Bank to carry on the banking business in Bangladesh with effect from May 4, 1987. However, actual banking operations commenced on May 20, 1987.

6. Shahjalal Islami Bank Limited (SJIBL)

Shahjalal Islami Bank Limited (SJIBL) commenced its commercial operation in accordance with principle of Islamic Shariah on the 10th May 2001 under the Bank Companies Act, 1991. During these years SJIBL has diversified its service coverage by opening new branches at different strategically important locations across the country offering various service products both investment & deposit. Islamic Banking, in essence, is not only INTEREST-FREE banking business, it carries deal wise business product thereby generating real income and thus boosting GDP of the economy. Board of Directors enjoys high credential in the business arena of the country, Management Team is strong and supportive equipped with excellent professional knowledge under leadership of a veteran Banker Mr. Farman R. Chowdhury.

7:Social Islami Bank Limited:

The SOCIAL ISLAMI BANK LTD (SIBL), a second-generation commercial bank, operating since 22nd November, 1995 based on Shariah' Principles, has now 139 branches all over the country with two subsidiary companies - SIBL Securities Ltd. & SIBL Investment Ltd. Targeting poverty, SOCIAL ISLAMI BANK LTD, is indeed a concept of 21st century participatory three sector banking model in one. In the formal sector, it works as an Islamic participatory commercial bank with human face approach to credit and banking on the profit and loss sharing. It has a Non-formal banking sector too with informal finance and investment package that empowers and humanizes real poor family and create local income opportunities and discourages internal migration. The bank has another sector to monetize the voluntary sector and management of Waqf, Mosque properties and has introduced cash Waqf system for the first time in the history of banking. In the formal corporate sector, this Bank, among others, offers the most up-to-date banking services through opening of various types of deposit and investment accounts, financing trade, providing letters of guarantee, opening letters of credit, collection of bills, leasing of equipment and consumers' durable, hire purchase and instalment sale for capital goods, investment in low-cost housing and management of real estates, participatory investment in various industrial, agricultural, transport, educational and health projects and so on. 

8: Union Bank:

Emancipate our poor people from abject poverty by empowering them with smooth banking service. Be the leading provider of Islamic Shariah compliant banking services in Bangladesh.Provide fast, accurate and satisfactory customer service by maintaining corporate & business ethics and transparency at all levels.Ensure technology based professional banking environment with strong capital base.Thrust on investment facilitating banking product.