NCC Bank has recently inaugurated its Islamic Banking Window at the Motijheel main branch, marking a significant step in its expansion of Shariah-compliant banking services. This initiative aligns with the bank’s vision of catering to the increasing demand for Islamic financial solutions in Bangladesh.
The inauguration ceremony was attended by Managing Director M Shamsul Arefin, along with senior officials including Deputy Managing Director Md Zakir Anam, EVP and Chief of Islamic Banking Division Abul Quasem Md Safiullah, EVP and Head of Motijheel Main Branch Syed Sadiqur Rahman, SVP and Head of Sustainable Banking Nighat Mumtaz, SVP and Head of IT-Enterprise Application Md Sajjadul Islam, and SVP and Head of Operations Syed Towhid Hossain.
Addressing the gathering, Managing Director M Shamsul Arefin reiterated NCC Bank’s commitment to providing ethical and Shariah-based banking solutions, ensuring strict compliance with Islamic financial principles under the supervision of its Shariah Board. He highlighted the bank’s positive customer response following the launch of its first full-fledged Islamic banking branch and expressed optimism about further expansion.
As part of its strategic roadmap, NCC Bank plans to introduce Islamic Banking Windows in all its branches, with an initial rollout across 32 major branches. This move aims to offer seamless Islamic banking services, fostering financial inclusion and catering to a broader customer base.
Arefin also encouraged business clients and general customers to explore the benefits of NCC Bank’s Islamic Banking offerings, assuring them of efficient, technology-driven services through its digital platform (Source: Press Release).
Understanding Islamic Banking and Its Growing Demand in Bangladesh:
Islamic banking operates on the principles of interest-free financial transactions, guided by Shariah law. Instead of conventional interest-based lending, Islamic banks engage in profit-sharing, leasing, and trade-based financing. The demand for Islamic banking in Bangladesh has been steadily increasing, driven by a preference for Shariah-compliant financial solutions and the sector’s growing contribution to the national economy.