Social Islami Bank Limited

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Social Islami Bank Limited
Formerly
Social Investment Bank Limited
IndustryBanking and Financial Services
FoundedDhaka, Bangladesh
Headquarters90/1, City Center, Motijheel, Dhaka-1000, Bangladesh
Key people
Mr. Anwarul Azim Arif[1][2] (Chairman)
Quazi Osman Ali (Managing Director)[3][4]
ProductsBanking services
Consumer Banking
Corporate Banking
Investment Banking
Islamic Banking
668 crore (US$79 million) (December,2018)
Websitesiblbd.com

Social Islami Bank Limited (SIBL) (Bengali: সোশ্যাল ইসলামী ব্যাংক লিমিটেড) is a Shari'ah based islami bank in Bangladesh. It has started journey on 22 November 1995 as Social Investment Bank Limited. Later it changed name to Social Islami Bank Limited. Up to March, 2019, SIBL has 160 branches including 22 AD (Authorized Dealer) branches & 108 agent banking outlets.[5][6]

History[edit]

Social Islami Bank Limited is a Sharia compliant bank in Bangladesh which started operations on 22 November 1995.[7] SIBL was founded by Prof. Dr. M. A. Mannan; Dr. Hamid Al Gabid- Former Secretary General, O.I.C.; Dr. Abdullah Omar Nasseef-Former Secretary General, World Muslim League; and Mr. Ahmed M. Salah Jamjoom-Former Commerce Minister, Kingdom of Saudi Arabia. It is a public limited company registered under the Companies Act of 1994 and regulated by Bank Company Act 1991. The bank is an Islamic bank, based on Islamic Sharia law forbidding usury.[8]

The Bank engages in corporate social responsibility through donations.[9] This bank is consistently becoming one of the best banks in Bangladesh. Over the time, it has expanded its service channel through Branches, Banking Booth and Agent Banking Outlets. With traditional ATM services and internet banking at has introduced its own mobile app 'SIBL NOW'. Therefore, SIBL customers now can have the app facilities for modern and instant banking.

Key Persons:

1. Mr. Anwarul Azim Arif[10] , Chairman

2. Mr. Belal Ahmed[11] , Vice Chairman

3. Mr. Md. Sayedur Rahman , Vice Chairman

4. Mr. Quazi Osman Ali , Managing Director & CEO[12]

Shareholding[edit]

Shareholding Position [as on 28 February 2019][13]
Type Percentage
Sponsor/Director 30.23%
Institute 48.10%
Foreign 1.36%
Public 20.21%

Subsidiaries[edit]

01. SIBL Securities Limited (SIBLSL)[14]

02. SIBL Investment Limited (SIBLIL)

Banking Products and Services[edit]

  • Investment Products
    • Bai-Muazzal[15]
    • HPSM[16]
    • HPSM-Ijara
    • Murabaha
    • Musharaka
    • Bai-Salam[17]
    • Quard and others
  • Deposit Products
    • Mudaraba[18] Scheme Deposits
    • Al Wadiah Current Account
    • Mudaraba Savings Deposit
    • Mudaraba Savings Deposit
    • Mudaraba Term Deposit
    • Cash Waqf Deposit
  • Card Products
    • SIBL Credit Card
    • SIBL Zameel Debit Card
    • SIBL Hajj Card

References[edit]

  1. ^ "The Financial Express". The Financial Express Online Version.
  2. ^ "Mr. Anwarul Azim Arif elected SIBL chairman". The Independent.
  3. ^ "SIBL gets new MD". The Independent.
  4. ^ "Quazi Osman Ali new MD of SIBL".
  5. ^ https://www.siblbd.com/home/agent_banking
  6. ^ "ঢাকা ও চট্টগ্রামের বাইরে ব্যাংকের বিনিয়োগের সুযোগ সীমিত". প্রথম আলো (in Bengali). Retrieved 26 November 2019.
  7. ^ "SIBL". www.siblbd.com. Retrieved 25 January 2016.
  8. ^ "Islamic banking moving fast for economic exigencies: SIBL chief". Retrieved 25 January 2016.
  9. ^ "The Financial Express". The Financial Express Online Version. Retrieved 25 January 2016.
  10. ^ "SIBL » Board of Directors". www.siblbd.com. Retrieved 29 March 2019.
  11. ^ "SIBL » Board of Directors". www.siblbd.com. Retrieved 29 March 2019.
  12. ^ "Quazi Osman Ali, Managing Director and CEO of Social Islami Bank Limited,". today.thefinancialexpress.com.bd. Retrieved 29 March 2019.
  13. ^ "Display Company Information". www.dsebd.org. Retrieved 30 March 2019.
  14. ^ "SIBL". www.siblbd.com. Retrieved 29 March 2019.
  15. ^ "Islamic banking and finance", Wikipedia, 21 March 2019, retrieved 29 March 2019
  16. ^ "Hire Purchase under Shirkatul Melk", Wikipedia, 9 September 2017, retrieved 29 March 2019
  17. ^ "Bai Salam", Wikipedia, 28 November 2018, retrieved 29 March 2019
  18. ^ "Mudaraba - Islamic Finance WIKI". wiki.islamicfinance.de. Retrieved 29 March 2019.

External links[edit]

https://www.siblbd.com/about/bod