Probashi Kallyan Bank is set to launch Sharia-compliant loans tailored specifically for overseas citizens. The announcement was made by Dr Asif Nazrul, Advisor to the Caretaker Government on Law, Expatriate Welfare and Foreign Employment, and Youth and Sports.
Dr Nazrul shared the update on his verified Facebook page, stating, “Good news for our expatriate brothers. Probashi Kallyan Bank will very soon commence Sharia-compliant lending operations. I spoke with the Managing Director of the bank today, who confirmed that the programme could be operational within this month.”
The advisor also credited Sheikh Ahmadullah for inspiring this initiative, expressing his gratitude for the guidance and support provided. The programme aims to offer financial assistance to expatriates in line with Islamic principles, providing an alternative to conventional interest-based lending.
Sharia-compliant loans, which operate under Islamic banking regulations, are interest-free and rely on permissible investment practices. Common methods include profit-sharing agreements (Mudaraba), cost-plus financing (Murabaha), or leasing contracts (Ijara), allowing borrowers to access finance ethically while ensuring transparency.
The planned features of Probashi Kallyan Bank’s Sharia-compliant loan programme are outlined below:
| Feature | Details |
|---|---|
| Type of Loan | Mudaraba, Murabaha, Ijara |
| Interest Rate | Interest-free; profit-sharing or predetermined profit margin |
| Eligibility | Bangladeshi expatriates |
| Approval Time | 7–10 working days from application |
| Maximum Loan Limit | Determined by bank policy during initial phase |
Dr Nazrul emphasised that this initiative is poised to play a crucial role in ensuring the financial security of Bangladesh’s expatriate population. By offering accessible, interest-free, and Sharia-compliant financing, the bank also anticipates positive impacts on foreign currency earnings and domestic investment.
In addition to providing loans, the bank plans to offer regular advisory services and financial education for borrowers, enabling them to utilise the funds effectively and maintain long-term financial stability. Initially, the scheme will primarily cater to mid-level expatriate workers, with plans to gradually extend the service to a broader segment of the overseas workforce.
With this step, Probashi Kallyan Bank positions itself as a pioneering institution supporting ethical finance, economic empowerment, and sustainable development for Bangladeshis living abroad.