Islamic Banking in Bangladesh: Commendable contribution to the country's economic growth
, April 28 -- The journey of Islamic banking in Bangladesh started in 1983 with the inception of Islami Bank Bangladesh PLC. Over the past 41 years, the Sharia'h-based banking has gained popularity in Bangladesh. This banking system contributes significantly to the national economy and supports entrepreneurial activities by expanding Sharia'h-compliant, service-oriented, and financially inclusive banking services nationwide. According to statistics, almost one-third of the country's banking sector is now under Islamic banking. Due to this popularity, conventional banks are also accepting the Sharia'h-based banking activities. Even many conventional banks are operating Islamic banking activities through specialized branches and windows.
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