IPDC Finance gets central bank nod to launch Islamic finance window
Once the conditions are fulfilled, IPDC Finance will apply to the Bangladesh Bank for final approval to commence its Islamic Shariah-based financing business, according to the disclosure.
IPDC Finance, a listed non-bank financial institution, has received in-principle approval from the Bangladesh Bank to launch Shariah-based financing through a dedicated Islamic Finance Wing, subject to fulfilling stipulated terms and conditions.
In a disclosure published on the Dhaka Stock Exchange today (27 September), the NBFI said it will now take the necessary steps to meet the central bank's requirements before applying for final approval to commence the business.
The company will amend its Memorandum and Articles of Association, form an independent Shariah supervisory committee, establish a separate Islamic finance division, segregate Islamic funds, and implement prescribed policies, an operational manual and separate accounting arrangements.
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Once the conditions are fulfilled, IPDC Finance will apply to the Bangladesh Bank for final approval to commence its Islamic Shariah-based financing business, according to the disclosure.
The company's board decided in August to commence Shariah-compliant business operations through an Islamic finance window, subject to approval from the relevant regulatory authorities. The Islamic finance operations will run alongside its existing conventional operations, according to an earlier disclosure.
Profit rises 37.6%
IPDC Finance reported a 37.6% year-on-year increase in net profit after tax to Tk20.7 crore in the first half of 2026, driven by higher net interest and investment income and prudent cost management.
Its total operating income rose 28.9% to Tk206.4 crore during January–June, according to its financial statement.
Net interest income increased 22.5% year-on-year to Tk116.8 crore, supported by continued asset growth and disciplined lending, while gross interest income rose 5.3% to Tk488.9 crore.
In the second quarter, net interest income increased 22.6% year-on-year to Tk58.7 crore, while investment income rose 39.2% to Tk78.6 crore, supported by higher returns from government securities and expansion of the company's treasury portfolio.
Operating income in the second quarter reached Tk112.2 crore, up 33% from the corresponding period of 2025.
IPDC Finance said around 60% of its operating income came from core financing activities, underscoring its focus on sustainable growth.
