Islami Bank Bangladesh PLC has undertaken a comprehensive review of its Shariah governance framework as part of its ongoing efforts to strengthen and modernise its Shariah-compliant banking operations. The review was conducted through a key meeting of the bank’s Shariah Supervisory Committee, held on Tuesday, 27 January 2026, at Islami Bank Tower in Dhaka. The meeting formed part of the institution’s regular oversight mechanism aimed at ensuring that all products, services and operational activities remain fully aligned with Shariah principles.
The meeting was chaired by Mufti Shamsuddin Zia, Chairman of the Shariah Supervisory Committee. In his remarks, he emphasised that in a rapidly evolving financial landscape, continuous supervision and scholarly guidance are essential to preserving the foundational values of Islamic banking. He noted that Shariah compliance should be viewed not merely as a religious obligation, but as a cornerstone of ethical conduct, transparency and public trust. According to him, a robust Shariah governance structure enhances institutional credibility and strengthens stakeholder confidence.
During the session, committee members examined a range of reports submitted by the bank’s management. These included findings from recent Shariah audits, the approval status of new and existing products, progress in implementing earlier recommendations, and the ethical standards applied to investment activities. Particular attention was paid to transparency in profit-and-loss sharing mechanisms, the strict avoidance of interest-based transactions, and the expansion of investments that contribute to social welfare and inclusive economic development.
Managing Director Md. Omar Faruk Khan briefed the committee on the bank’s overall performance and strategic initiatives. He highlighted that Islami Bank has intensified training programmes, internal control systems and awareness campaigns at all organisational levels to embed a culture of Shariah compliance across the institution. Committee members welcomed these initiatives and offered further guidance aimed at enhancing the effectiveness and depth of Shariah oversight.
The meeting also addressed emerging challenges such as the rapid expansion of technology-driven banking services, shifting customer expectations, and the need to remain aligned with global developments in Islamic finance. The committee observed that a strong and adaptive Shariah governance framework would be critical in navigating these challenges and ensuring the bank’s sustainable growth in the years ahead.
Participants at the Meeting
| Name | Position |
|---|---|
| Mufti Shamsuddin Zia | Chairman, Shariah Supervisory Committee |
| Professor Dr. Naqib Muhammad Nasrullah | Member, Shariah Supervisory Committee |
| Professor Dr. Md. Shamsul Alam | Member, Shariah Supervisory Committee |
| Professor Dr. Jubayer Muhammad Ehsanul Haque | Member, Shariah Supervisory Committee |
| Dr. Md. Nurullah | Member, Shariah Supervisory Committee |
| Md. Omar Faruk Khan | Managing Director |
| Md. Shamsud Doha | Secretary, Shariah Supervisory Committee and Senior Executive Vice President |
The observations and directives issued at the meeting are expected to be reflected in the bank’s operational and strategic decisions over the coming months. Through this initiative, Islami Bank Bangladesh PLC has reaffirmed its commitment to ethical, transparent and socially responsible banking, further consolidating its position as a leading institution in Shariah-based finance within the country’s financial sector.