IDLC finance launches shari’ah compliant financing window
IDLC Finance PLC, the nation's largest non-bank financial institution (NBFI), proudly announces the launch of IDLC Islamic - its Shari'ah-compliant financing window.
The launch ceremony was held on January 21, 2025, at the Pan Pacific Sonargaon Hotel in Dhaka. Shari'ah scholars, esteemed guests, industry leaders, and key stakeholders attended.
The event was graced by Mr Zakir Hossain Chowdhury, Honourable Deputy Governor of Bangladesh Bank, as the Chief Guest. Besides, speeches and insights from Mr. Aziz Al Mahmood, the Chairman of IDLC Finance, Mr M Jamal Uddin, CEO & Managing Director of IDLC Finance, Professor Dr Mohammad Gias Uddin Talukder, Chairman of Central Shariah Board for Islamic Banks of Bangladesh (CSBIB), Dr. Mohammad Manzur-e-Elahi, Chairman of IDLC's Shari'ah Supervisory Committee (SSC), Shari'ah scholars, and other stakeholders enriched the event. The evening featured a presentation on "Succeeding Sustainability through Shari'ah-compliant Financing," followed by an engaging panel discussion on the same theme, highlighting IDLC Islamic's alignment with Shari'ah finance and sustainability.
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IDLC Islamic embodies IDLC's commitment to fostering innovation in Shari'ah-compliant financing and serving the growing demand for Shari'ah-compliant financial products in Bangladesh. Its offerings include Mudarabah Deposit Schemes, which provide various term and recurring deposit options for individuals and institutions. Shari'ah-compliant financing Solutions, including Ijarah Muntahia Bit Tamleek (IMBT) and Murabaha, are tailored to meet the needs of CMSMEs, corporates, and individuals.
Speaking at the event, M Jamal Uddin, CEO and Managing Director of IDLC Finance, remarked: "IDLC Islamic is a significant step in our journey to create Shari'ah-based ethical, sustainable financial solutions. It reflects our commitment to addressing the diverse needs of our customers while adhering to the highest standards of governance and Shari'ah compliance."
IDLC Islamic is governed by a distinguished Shari'ah Supervisory Committee (SSC), which ensures that financial products and processes comply with Shari'ah principles. This new initiative aligns with IDLC's legacy of transparency and governance.
The ceremony featured the unveiling of the IDLC Islamic logo, a symbol of IDLC's commitment to Shariah-compliant and sustainable finance. Guests also enjoyed a Nasheed performance and shared their expectations and experiences with IDLC Islamic, underscoring the relevance and timeliness of this new financial offering.
