Social Islami Bank Limited SIBL Bengali: সোশ্যাল ইসলামী ব্যাংক লিমিটেড) is a Shari’ah-based Islami bank in Bangladesh. It was established on 22 November 1995 as Social Investment Bank Limited. Later it changed its name to Social Islami-Bank Limited. Up to October 2021, SIBL has 172 branches including 22 AD (Authorized Dealer) branches, 104 subbranches & 200 agent banking outlets.
The government’s vision for the country, as contained in the NIS, is ‘A happy & prosperous Golden Bengal’. To that end, the Government is committed to implementing the NIS to achieve the Mission that ‘Establishment of good governance in state institutions and society.
The NIS is an instrument to enhance the integrity and eliminate corruption within institutions. Improved honesty and morality in people, policies, and procedures are seen as a vehicle to address and rectify the crisis of integrity that the institutions are presently in.
History of Social Islami Bank
Social Islami-Bank Limited is a Sharia-compliant bank in Bangladesh that started operations on 22 November 1995. SIBL was founded by M. A. Mannan, Dr. Hamid Al Gabid, Former Secretary-General of O.I.C., Dr. Abdullah Omar Nassef, and 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 the Bank Company Act 1991. The bank is an Islamic bank, based on Islamic Sharia law forbidding usury.
The Bank engages in corporate social responsibility through donations.