IDLC Asset Management holds 24th Shariah Board meeting
The twenty-fourth Shariah Supervisory Board meeting of the IDLC Asset Management Shariah Fund, managed by IDLC Asset Management Limited, was held on 13 October 2025 with Dr Syed Muhammed Emdad Uddin in the chair.
Board members Allama Dr Sayed Kamaluddin Abdullah Zafree, Dr M Mahabbat Hossain, Professor Mamtaz Uddin Ahmed, FCMA, Dr Muhammad Manzur-E-Elahi and Mufti Dr Yusuf Sultan attended the meeting.
The Board reviewed the Fund's Shariah-based activities for the first quarter of the 2025–26 financial year (July to September 2025) and approved all Shariah compliance reports. It also discussed matters relating to Shariah-based laws and operational guidelines for the Fund.
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The IDLC Asset Management Shariah Fund has gained strong recognition in Bangladesh for offering attractive tax rebates and steady profits through Shariah-compliant investments. Its investment policy has been endorsed by the Dubai-based Shariah finance advisory firm, Amanie Advisors.
Similar to a Mudaraba DPS, investors can contribute a fixed amount starting from Tk5,000 per month and enjoy up to Tk75,000 in tax rebates – more than four times higher than that of a conventional Mudaraba DPS.
Along with tax benefits, the Fund ensures security by prioritising investments in Sukuk – a widely preferred Islamic financial instrument in countries such as Saudi Arabia and Malaysia – to deliver stable and attractive returns for investors.
