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Functions, Prospects, and Challenges of Shari’ah-Based Banking: Islami Bank Bangladesh Limited

In: Management of Shari’ah Compliant Businesses

Author

Listed:
  • Jashim Uddin Ahmed

    (School of Business & Economics North South University)

  • Hafiza Sultana

    (InterResearch)

  • Mohammad Tayeenul Hoque

    (School of Business & Economics, North South University)

Abstract

The case study discusses Islamic banking activities in Bangladesh by focusing on Islami Bank Bangladesh Limited (IBBL), the pioneer in Shari’ah-based banking in the country. Although Islamic banking started with limited resources and a few participants, it has shown strong growth potential with a high level of customer acceptance. The introduction of profit and loss sharing banking system proved its worth since IBBL started rendering banking services with goals for social and economic development in 1983. Therefore, there are significant opportunities for the growth of Islamic banking in the country. Several challenges, on the other hand, are needed to be addressed, for example, inadequate diversification of products, lack of regulatory standard, complexity in investment opportunities, wobbly compliance with the Islamic Shari’ah, and intense competition from conventional banks with Islamic products and service, in order to improve the efficiency of this sector.

Suggested Citation

  • Jashim Uddin Ahmed & Hafiza Sultana & Mohammad Tayeenul Hoque, 2019. "Functions, Prospects, and Challenges of Shari’ah-Based Banking: Islami Bank Bangladesh Limited," Management for Professionals, in: Ezlika M. Ghazali & Dilip S. Mutum & Mamunur Rashid & Jashim U. Ahmed (ed.), Management of Shari’ah Compliant Businesses, pages 55-70, Springer.
    • Handle: RePEc:spr:mgmchp:978-3-030-10907-3_6
    DOI: 10.1007/978-3-030-10907-3_6
    as

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