Islami Bank Reviews Shari‘ah Governance Framework

Islami Bank Bangladesh PLC convened a meeting of its Shari‘ah Supervisory Committee on Tuesday, 27 January 2026, at the Islami Bank Tower, reaffirming the institution’s commitment to strict adherence to Islamic banking principles and robust governance standards. The meeting formed part of the bank’s regular oversight process to ensure that all products, services and operational activities remain fully compliant with Shari‘ah guidelines.

The session was presided over by Mufti Shamsuddin Zia, Chairman of the Shari‘ah Supervisory Committee, who underscored the importance of continuous monitoring and scholarly guidance in a rapidly evolving financial landscape. According to a media release, the committee engaged in in-depth deliberations on Shari‘ah compliance issues, ongoing reviews of banking operations, and the alignment of the bank’s practices with both national regulatory requirements and international Islamic finance standards.

During the meeting, committee members examined reports submitted by the bank’s management on Shari‘ah audits, product approvals and implementation of previous recommendations. Particular emphasis was placed on ensuring transparency in profit-and-loss sharing mechanisms, ethical investment screening, and the avoidance of interest-based transactions, which are fundamental tenets of Islamic finance. The committee also discussed emerging challenges in the sector, including the need for enhanced Shari‘ah governance frameworks amid technological innovation and growing customer expectations.

Managing Director Md. Omar Faruk Khan briefed the committee on the bank’s overall performance and strategic initiatives, highlighting the management’s efforts to strengthen compliance culture across all levels of the organisation. He reiterated that Shari‘ah compliance is not merely a regulatory obligation but a core value that underpins customer trust and the bank’s long-term sustainability. The committee acknowledged these efforts and offered further guidance aimed at reinforcing internal controls and staff awareness.

The meeting concluded with a set of observations and directives intended to enhance operational efficiency while maintaining uncompromised Shari‘ah integrity. These recommendations are expected to guide management actions in the coming months and contribute to the bank’s broader objective of promoting ethical and socially responsible banking practices in Bangladesh.

Participants at the Meeting

Through such structured and scholarly engagements, Islami Bank Bangladesh PLC continues to reinforce its position as a leading Islamic financial institution, committed to upholding Shari‘ah principles while supporting sustainable economic development.