Social Islami Bank

Social Islami Bank Limited
Private (Non-Government)
Industry Banking
Founded Dhaka, Bangladesh
Headquarters Dhaka, Bangladesh
Key people

Md. Rezaul Haque[1][2] (Chairman)

Md. Shafiqur Rahman (Managing Director)[3][4]
Products Banking services
Consumer Banking
Corporate Banking
Investment Banking
Islamic Banking
Increase
Website www.siblbd.com

Social Islami Bank Limited is private commercial bank in Bangladesh.

History

The Bank was founded in 22nd November, 1995.[5] The bank is an Islamic bank, based on Islamic Sharia law forbidding usury.[6]

SIBL apologised to Bangladesh Bank over financial irregularities in 2015.[7]

In 2016, the bank was one of two Bangladeshi banks implicated in the money laundering and terror financing investigation of HSBC by the US Senate Subcommittee. Its two Saudi Arabia based shareholders, the International Islamic Relief Organization and Lajnat-al-Birr-al-Islam, have been implicated in terrorism financing. [8] The bank has denied all allegations of terror financing and has claimed that they are trying to get the two Saudi companies in dispute to sell their shares in the Bank.[9]

The Bank engages in corporate social responsibility through donations.[10]

References

  1. ↑ "The Financial Express". The Financial Express Online Version. Retrieved 25 January 2016.
  2. ↑ "Rezaul Haque re-elected SIBL chairman". The Independent. Retrieved 25 January 2016.
  3. ↑ "SIBL reappoints managing director". The Daily Star. Retrieved 25 January 2016.
  4. ↑ "Social Islami Bank Limited". Retrieved 25 January 2016.
  5. ↑ "SIBL". www.siblbd.com. Retrieved 25 January 2016.
  6. ↑ "Islamic banking moving fast for economic exigencies: SIBL chief". Retrieved 25 January 2016.
  7. ↑ "AB Bank, SIBL tender unconditional apology to BB for irregularities in buyer's credit". bdnews24.com. Retrieved 25 January 2016.
  8. ↑ "Bangladesh: Banking For Terror – Analysis". Eurasia Review. Retrieved 25 January 2016.
  9. ↑ "SIBL, Islami Bank clarify their positions". archive.thedailystar.net. Retrieved 25 January 2016.
  10. ↑ "The Financial Express". The Financial Express Online Version. Retrieved 25 January 2016.
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