More Money & Capital Market Instruments to be Introduced for Islamic Banks

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IBCF Research & Training Academy arranged a daylong workshop on “Shariah Principles of Distribution of Profit to Participating Fund: Global & National perspective” held on Saturday May 6, 2017 at BAB office, Gulshan Dhaka. 26 top &mid Level Executives of 13 Islamic Banks and conventional banks having Islamic Banking Branches & windows took part in the workshop. The participants  discussed the pros and cons of the weightage based system and the Income Sharing Ratio based system and recommended further study for introduction of an uniform system of distribution of profit  to Mudaraba Depositors.

Mr. Arastoo Khan, Chairman of Islamic Banks Consultative Forum & Islami Bank Bangladesh Limited distributed certificates among the participants as the Chief Guest. The Chief Guest in his speech stressed the need for introduction of more Money & Capital Market Instruments including Sukuk for Islamic Banks in Bangladesh and bringing in uniformity in the system of profit distribution to the Mudaraba depositors. He also advised the participants to be more knowledgeable in Banking in order to compete with the global financial institutions.

The Key resource persons of the workshop were eminent Islamic Banker Mr. M AzizulHuq, former Managing Director & CEO of IBBL, SIBL, IFIL & Mr. Md. Fariduddin Ahmed former Managing Director & CEO of IBBL & EXIM Bank and former Advisor of EXIM Bank.

Mr. Omar Farooque, MD & CEO of Union Bank Ltd  was present on the  occasion as special guest while A K M Nurul Fazal Bulbul, Vice Chairman, IBCF presided over the certificate awarding ceremony. Among others BAB Secretary General Mr. Md. Abdur Rahman Sarker was also present.

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