Shariah Supervisory Committee

  • Prof. Mowlana Dr. Md. Shahidul Islam Barakaty

          Director, Southeast University

          Chairman

  • Mufti Mujibur Rahman

          Muhaddis, Jamul-Ul- Quran Madrasha, Dhaka

          Member

  • Maulana Md. Mahmudul Haque

          Khatib, Baitul Mamur Masjid, Uttara.

          Member

  • Mohammad Reyad Hossain

         VP & Head of IBD 

         Member Secretary

Trust Islamic Banking

Name of the Islamic Banking Window

Location

Principal Branch

Dhanmondi Corporate Branch

Gulshan Corporate Branch

Dilkusha Corporate Branch

Millennium Corporate Branch

Uttara Corporate Branch

Mirpur Branch

Karwan Bazar Branch

Dhaka

Bogra Cantonment Branch

Bogura

Islamic Banking

Islam demands all economic activities including banking should run in accordance with the Islamic Shariah i.e. prohibition ofinterest from all transactions and dealing in businesses that are allowed (halal) in shariah. Islamic Banking has potential for earthly returns (earning profit) as well as reward in the Divine world (benefit in hereafter) by abiding the instructions of the Almighty Allah.

Shariah Principals of Islamic Banking

Al-wadiah:

Al-Wadiah is a ‘safe keeping’ arrangement approved in shariah. Islamic Banks use the Al-Wadiah principles to receive deposits in Current Accounts. Islamic Banks obtain permission from the Al-Wadiah depositors to utilize the Funds at its own responsibility and the depositors would not share any profit or loss earned/incurred out of using of this funds by the bank. The Banks have to pay back the Al-Wadiah deposits received on demand of the depositors.

Mudaraba:

Bai-Salam

Salient Features:

  • This is a mode of investment is usually used for working capital finance requirement of the client.
  • The seller have to clearly specify the name, specification, brand, quality, quantity, size etc. of the goods without any ambiguity.
  • In the agreement the unit price and total price of the goods will be fixed and mentioned
  • Exact time and place of delivery will be specified.

Bai-Muajjal

Salient Features:

  • This is a mode of investment is usually used for working capital finance requirement of the client.
  • The Bank will purchase goods according to the client choice for onward sale to the client.
  • Payment of the sale price is deferred for a fixed period.
  • Bank will transfer the ownership and possession of the goods to client before receipt of sale price.
  • Bank will bear the risk of goods after purchase until those are actually delivered to the client.
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