EBL launches Islamic Banking services
Eastern Bank PLC. (EBL), a leading private sector financial institution in Bangladesh, has launched Shariah-based Islamic banking services. The services will primarily be provided in 20 branches across the country through 20 Islamic Banking Windows.
In the remaining branches, there will be Islamic banking help desks for customers. Md. Showkat Ali Chowdury, chairman of the EBL board of directors, formally inaugurated the operations as the Chief Guest at a ceremony held at the bank's head office in the city today.
"We are launching Islamic Banking operations to meet the needs of Shariah-based banking. Islamic Finance is gaining popularity across the world including Bangladesh. As a modern and dynamic banking services provider EBL could not but respond to customers' need. As always, we seek your support and cooperation to take Islamic banking to a new height," said Showkat Ali Chowdhury while addressing the ceremony.
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EBL Managing Director and CEO Ali Reza Iftekhar, Additional Managing Director and Chief of Islamic Banking Ahmed Shaheen, and Shariah supervisory Committee (SSC) chairman Shahed Rahmani also spoke on the occasion.
"As a compliant Bank, we are committed to fully ensuring Shariah rules and principles in our Islamic Banking operations. All EBL Islamic Banking products and policies are fully Shariah compliant. We are offering a wide array of Islamic Banking products and services to cater to the diversified needs of customers, "said Ali Reza Iftekhar.
Shahed Rahmani expressed his hope that EBL it will not compromise on Shariah issues in its Islamic Banking operations. He also invited clients to avail EBL Islamic Banking services for an enjoyable experience.
A.K.M. Mizanur Rahman, deputy Chief of EBL Islamic Banking, presented the products and services to customers.
EBL offers a wide range of deposit and financing products based on Al-Wadiah, Mudarabah, Musharkah, and Ijarah contracts. All sorts of Banking services, such as retail, SME, corporate, and trade, will also be available strictly in compliance with Shariah. EBL also offers a unique product: Continuous Musharakah Finance (CMF), which will fulfill the need for capital financing to meet overhead costs.
