IDLC Finance PLC., the nation’s largest non-bank financial institution (NBFI), announced the launch of IDLC Islamic - its Shariah-compliant financing window.
The launch ceremony was held on January 21 at the Pan Pacific Sonargaon Hotel in Dhaka, attended by Shariah scholars, esteemed guests, industry leaders, and key stakeholders.
The event was graced by Md Zakir Hossain Chowdhury, deputy governor of Bangladesh Bank, as the chief guest.
Besides, speeches and insights from Aziz Al Mahmood, chairman of IDLC Finance, M Jamal Uddin, CEO & managing director of IDLC Finance, Professor Dr. Mohammad Gias Uddin Talukder, chairman, Central Shariah Board for Islamic Banks of Bangladesh (CSBIB), Mohammad Manzur-e-Elahi, chairman of IDLC's Shariah Supervisory Committee (SSC), Shariah scholars, and other stakeholders enriched the event.
The evening featured a presentation on “Succeeding Sustainability through Shariah-compliant Financing,” followed by an engaging panel discussion on the same theme, highlighting IDLC Islamic's alignment with Shariah finance and sustainability.
IDLC Islamic embodies IDLC’s commitment to fostering innovation in Shariah-compliant financing and serving the growing demand for Shariah-compliant financial products in Bangladesh.
Its offerings include Mudarabah Deposit Schemes, providing various term as well as recurring deposit options for individuals and institutions.
Shariah-Compliant Financing Solutions, including Ijarah Muntahia Bit Tamleek (IMBT) and Murabaha, are tailored to meet the needs of CMSMEs, corporates, and individuals.
M Jamal Uddin, CEO and managing director of IDLC Finance, remarked: "IDLC Islamic is a significant step in our journey to create Shariah-based ethical, and sustainable financial solutions. It reflects our commitment to addressing the diverse needs of our customers while adhering to the highest standards of governance and Shariah compliance."
IDLC Islamic is governed by a distinguished Shariah Supervisory Committee (SSC), ensuring that the financial products and processes comply with Shariah 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.
