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Social Islami Bank

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545: 29: 320:, director of Policy Research Institute of Bangladesh, alleged S. Alam Group had taken 800 billion BDT from banks it owns. In December, Bangladesh Securities and Exchange Commission allowed Social Islami Bank Limited and Islami Bank Bangladesh Limited to raise funds through issuing bonds. Bangladesh Bank appointed observers for the First Security Islami Bank Limited, and Islami Bank Bangladesh Limited. S. Alam Group filed a 1273: 1744: 256:, who are shareholders of the bank, with having links to terror organizations. The bank has denied all allegations of terror financing and has claimed that they are trying to get the two Saudi companies in dispute to sell their shares in the bank. After the report came out, the bank filed a case with a local court to remove the two organizations as shareholders. 267:. Bangladesh Bank did not follow its own rules so that it could quickly accept the resignation letter of the bank chairman Md Rezaul Haque. Two days later the number of resigning directors increased to nine. Seven new independent directors and two shareholding directors were appointed to replace them. The changes took place after 213:) is a Shari'ah based Islami Bank in Bangladesh. It was established on 22 November 1995 as Social Investment Bank Limited. Later it changed name to Social Islami Bank Limited. Up to October, 2021, SIBL has 172 branches including 22 AD (Authorized Dealer) branches, 104 subbranches & 200 agent banking outlets. 221:
Social Islami Bank Limited is a Sharia compliant bank in Bangladesh which started operations on 22 November 1995. SIBL was founded by M. A. Mannan, Dr. Hamid Al Gabid, Former Secretary General of O.I.C., Dr. Abdullah Omar Nasseef, and Ahmed M. Salah Jamjoom, Former Commerce Minister, Kingdom of Saudi
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In 2022, it emerged that S. Alam Group had purchased the banks, including Social Islami Bank Limited, with bank loans. In November, 1.64 billion USD was stolen from the bank through letter of credits. The Bank protested the report while Bdnews.com defended their report based on the report of
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took over 50 per cent shares of the bank. The replacement had ties to S. Alam Group. The group had purchased the shares through 19 subsidies violating the Banking Company Act, 1991. The chairman of S. Alam Group, Mohammed Saiful Alam, also owns other banks in Bangladesh which are
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The bank engages in corporate social responsibility through donations. SIBL apologized to Bangladesh Bank over financial irregularities in 2015. According to International Consortium of Investigative Journalists, the bank had suspicious transactions from 2014 to 2016.
316:. On 4 December, the High Court Division ordered the government of Bangladesh to investigate loans scams at Social Islami Bank Limited, First Security Islami Bank Limited, and Islami Bank Bangladesh Limited. According to 300:
was made chairman of the new board of the bank. The managing director of First Security Islami Bank, Quazi Osman Ali, was appointed managing director of Social Islami Bank Limited. Former governor of Bangladesh Bank,
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In January 2023, Bangladesh Bank approved emergency loans for Social Islami Bank Limited, First Security Islami Bank, Global Islami Bank, and Union Bank worth 67 billion BDT.
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In 2019, the bank rescheduled a record number of loans, 29.5 billion BDT, accounting for 50 per cent of all rescheduled loans in Bangladesh that year.
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Arabia. It is a public limited company registered under the Companies Act of 1994 and regulated by Bank Company Act 1991. The bank is an
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against a insurance agent who had posted posters alleging the group had stolen funds from Social Islami Bank and six other banks.
1418: 973: 513: 495: 277: 855: 1609: 1548: 605: 248:. They also found evidence of impropriety against the founder of the bank and first chairman, MA Mannan. They identified the 1139: 1594: 1574: 1448: 293: 273: 946: 1766: 1690: 1473: 1310: 1084: 302: 1392: 1333: 268: 223: 1599: 1589: 321: 285: 253: 1650: 1635: 1483: 59: 660: 305:, described the situation as concerning since S. Alam Group had taken control over a large number of banks. 1721: 1685: 1579: 1538: 1478: 263:
In November 2017, seven directors of the Social Islami Bank Limited resigned following a board meeting at
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In 2009, the bank changed their name from Social Investment Bank Limited to Social Islami Bank Limited.
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found evidence of terrorism financing after examining the bank documents in their investigation of
1743: 1731: 1655: 1640: 1518: 1508: 1453: 1438: 1397: 151: 77: 113: 429: 1458: 1443: 1428: 1423: 297: 1503: 1382: 1357: 264: 206: 28: 1347: 289: 155: 147: 101: 746: 769:"AB Bank, SIBL tender unconditional apology to BB for irregularities in buyer's credit" 317: 143: 1760: 1543: 1528: 1192: 1116: 63: 55: 45: 1747: 1726: 1711: 1625: 1278: 1242: 1062: 1035: 886: 773: 711: 634: 600: 1558: 1523: 1387: 1377: 1372: 552: 105: 1665: 1302: 1268: 1217: 163: 117: 91: 882:"Anwarul Azim Chairman, Osman Ali MD of Social Islami Bank in major shake-up" 531: 109: 1057: 1030: 796:"Three local banks' names come out in suspicious cross-border transactions" 1630: 1498: 1493: 575: 1413: 139: 73: 227: 712:"Social Islami Bank goes to court to clear terror financing charges" 1297: 1058:"Social Islami Bank protests LC scam report, bdnews24.com responds" 242:
US Senate Permanent Subcommittee on Investigations, a Congressional
231: 174: 87: 601:"Islamic banking moving fast for economic exigencies: SIBL chief" 1645: 245: 1306: 1031:"$ 1.6bn vanishes from Social Islami Bank through rogue LCs" 1005:"Islami Bank's loan scams were not unknown to policymakers" 1287: 547:āĻĸāĻžāĻ•āĻž āĻ“ āĻšāĻŸā§āĻŸāĻ—ā§āĻ°āĻžāĻŽā§‡āĻ° āĻŦāĻžāĻ‡āĻ°ā§‡ āĻŦā§āĻ¯āĻžāĻ‚āĻ•ā§‡āĻ° āĻŦāĻŋāĻ¨āĻŋāĻ¯āĻŧā§‹āĻ—ā§‡āĻ° āĻ¸ā§āĻ¯ā§‹āĻ— āĻ¸ā§€āĻŽāĻŋāĻ¤ 1112:"Bangladesh Bank appoints new observers to IBBL, FSIBL" 856:"Quizzical Changes in SIBL: BB rushes to approve it" 187: 1704: 1678: 1618: 1567: 1406: 1365: 1356: 1340: 1140:"S Alam Group files DSA case over slapping posters" 182: 161: 135: 123: 97: 83: 69: 43: 35: 1168:"Four more Islamic banks take BB emergency loans" 1085:"IBBL, SIBL allowed to float bonds of Tk 1,400cr" 974:"Record loan rescheduling at Social Islami Bank" 1318: 635:"US panel exposes governance failure at HSBC" 8: 1772:Companies listed on the Dhaka Stock Exchange 21: 686:"SIBL, Islami Bank clarify their positions" 661:"Bangladesh: Banking For Terror – Analysis" 1534:South Bangla Agriculture and Commerce Bank 1362: 1325: 1311: 1303: 27: 20: 250:International Islamic Relief Organisation 1580:Export Import Bank of Bangladesh Limited 737:"SIBL donates clothes among poor people" 334: 487: 314:Bangladesh Financial Intelligence Unit 998: 996: 994: 941: 939: 912: 910: 908: 906: 904: 850: 848: 821: 819: 817: 398:02. SIBL Investment Limited (SIBLIL) 395:01. SIBL Securities Limited (SIBLSL) 178:(US$ 57 million) (December,2018) 7: 629: 627: 625: 623: 1166:Uddin, AKM Zamir (3 January 2023). 1585:First Security Islami Bank Limited 1003:Mortoza, Golam (6 December 2022). 947:"Change of guards raises eyebrows" 742:The Financial Express (Bangladesh) 710:Rahman, Sajjadur (1 August 2012). 416:Hire Purchase under Shirkatul Melk 14: 1243:"Mudaraba – Islamic Finance WIKI" 972:Uddin, AKM Zamir (17 July 2019). 129:Mr. Md. Mahbub ul Alam(chairman) 16:Bangladeshi Sharia-compliant bank 1742: 1298:https://www.siblbd.com/about/bod 1271: 606:The Daily Observer (Bangladesh) 131:Zafar Alam (managing director) 39:Social Investment Bank Limited 1: 1595:Shahjalal Islami Bank Limited 1575:Al-Arafah Islami Bank Limited 1193:"Display Company Information" 402:Banking Products and Services 252:and Lajnat-al-Birr-al-Islam, 1691:Rajshahi Krishi Unnayan Bank 918:"9 directors of SIBL resign" 532:"Social Islami Bank Limited" 211:āĻ¸ā§‹āĻļā§āĻ¯āĻžāĻ˛ āĻ‡āĻ¸āĻ˛āĻžāĻŽā§€ āĻŦā§āĻ¯āĻžāĻ‚āĻ• āĻĒāĻŋāĻāĻ˛āĻ¸āĻŋ 1782:Islamic banks of Bangladesh 1393:Bangladesh Development Bank 1334:List of banks in Bangladesh 1798: 1600:Social Islami Bank Limited 1590:Islami Bank Bangladesh Ltd 282:First Security Islami Bank 254:Islamic Charitable Society 1777:Banks established in 1995 1740: 1651:National Bank of Pakistan 1636:Commercial Bank of Ceylon 827:"7 SIBL directors resign" 447:Al Wadiah Current Account 210: 26: 1419:Bangladesh Commerce Bank 546: 453:Mudaraba Savings Deposit 450:Mudaraba Savings Deposit 444:Mudaraba Scheme Deposits 278:Bangladesh Commerce Bank 336:Shareholding Position 22:SOCIAL ISLAMIC BANK PLC 1722:Ansar-VDP Unnayan Bank 1686:Bangladesh Krishi Bank 1554:United Commercial Bank 1247:wiki.islamicfinance.de 472:SIBL Zameel Debit Card 286:Islami Bank Bangladesh 199:Social Islami Bank PLC 1696:Probashi Kallyan Bank 456:Mudaraba Term Deposit 294:Al-Arafah Islami Bank 274:Al-Arafah Islami Bank 1145:New Age (Bangladesh) 1090:New Age (Bangladesh) 322:Digital Security Act 1767:Banks of Bangladesh 1717:Karmasangsthan Bank 1661:State Bank of India 1029:Taleb, Sheikh Abu. 802:. 23 September 2020 408:Investment Products 337: 226:, based on Islamic 23: 1732:Palli Sanchay Bank 1656:Standard Chartered 1641:Habib Bank Limited 1610:Union Bank Limited 1454:Global Islami Bank 1398:BASIC Bank Limited 1120:. 13 December 2022 924:. 15 November 2017 833:. 14 November 2017 749:on 31 January 2016 514:"SIBL gets new MD" 335: 240:In July 2012, the 152:Investment Banking 78:financial services 1754: 1753: 1674: 1673: 1484:Mutual Trust Bank 953:. 31 October 2017 862:. 1 November 2017 459:Cash Waqf Deposit 388: 387: 298:Anwarul Azim Arif 196: 195: 148:Corporate Banking 1789: 1746: 1363: 1327: 1320: 1313: 1304: 1294: 1291: 1289: 1281: 1276: 1275: 1274: 1258: 1257: 1255: 1253: 1239: 1233: 1232: 1230: 1228: 1214: 1208: 1207: 1205: 1203: 1189: 1183: 1182: 1180: 1178: 1163: 1157: 1156: 1154: 1152: 1136: 1130: 1129: 1127: 1125: 1108: 1102: 1101: 1099: 1097: 1081: 1075: 1074: 1072: 1070: 1054: 1048: 1047: 1045: 1043: 1026: 1020: 1019: 1017: 1015: 1000: 989: 988: 986: 984: 969: 963: 962: 960: 958: 943: 934: 933: 931: 929: 914: 899: 898: 896: 894: 878: 872: 871: 869: 867: 852: 843: 842: 840: 838: 823: 812: 811: 809: 807: 792: 786: 785: 783: 781: 765: 759: 758: 756: 754: 745:. Archived from 733: 727: 726: 724: 722: 707: 701: 700: 698: 696: 682: 676: 675: 673: 671: 657: 651: 650: 648: 646: 631: 618: 617: 615: 613: 597: 591: 590: 588: 586: 572: 566: 565: 563: 561: 542: 536: 535: 528: 522: 521: 510: 504: 503: 496:"The Daily Star" 492: 469:SIBL Credit Card 440:Deposit Products 434:Quard and others 350:Sponsor/Director 338: 303:Salehuddin Ahmed 265:The Westin Dhaka 212: 192: 189: 177: 172: 144:Consumer Banking 140:Banking services 31: 24: 1797: 1796: 1792: 1791: 1790: 1788: 1787: 1786: 1757: 1756: 1755: 1750: 1736: 1700: 1670: 1614: 1563: 1474:Mercantile Bank 1402: 1352: 1348:Bangladesh Bank 1336: 1331: 1286: 1277: 1272: 1270: 1267: 1262: 1261: 1251: 1249: 1241: 1240: 1236: 1226: 1224: 1216: 1215: 1211: 1201: 1199: 1191: 1190: 1186: 1176: 1174: 1165: 1164: 1160: 1150: 1148: 1138: 1137: 1133: 1123: 1121: 1110: 1109: 1105: 1095: 1093: 1083: 1082: 1078: 1068: 1066: 1056: 1055: 1051: 1041: 1039: 1028: 1027: 1023: 1013: 1011: 1002: 1001: 992: 982: 980: 971: 970: 966: 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Bank 1536: 1531: 1526: 1521: 1516: 1511: 1506: 1501: 1496: 1491: 1486: 1481: 1479:Modhumoti Bank 1476: 1471: 1466: 1461: 1456: 1451: 1446: 1441: 1436: 1434:Community Bank 1431: 1426: 1421: 1416: 1410: 1408: 1404: 1403: 1401: 1400: 1395: 1390: 1385: 1380: 1375: 1369: 1367: 1360: 1354: 1353: 1351: 1350: 1344: 1342: 1338: 1337: 1332: 1330: 1329: 1322: 1315: 1307: 1301: 1300: 1295: 1283: 1282: 1266: 1265:External links 1263: 1260: 1259: 1234: 1222:www.siblbd.com 1209: 1184: 1172:The Daily Star 1158: 1131: 1103: 1076: 1049: 1021: 1009:The Daily Star 990: 978:The Daily Star 964: 951:The Daily Star 935: 922:The Daily Star 900: 873: 860:The Daily Star 844: 831:The Daily Star 813: 800:The Daily Star 787: 760: 728: 716:The Daily Star 702: 690:The Daily Star 677: 665:Eurasia Review 652: 641:. 18 July 2012 639:The Daily Star 619: 592: 580:www.siblbd.com 567: 537: 523: 518:The Daily Star 505: 500:The Daily Star 486: 485: 483: 480: 479: 478: 477: 476: 475:SIBL Hajj Card 473: 470: 462: 461: 460: 457: 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Retrieved 556:(in Bengali) 551: 540: 526: 517: 508: 499: 490: 464: 439: 407: 397: 394: 391:Subsidiaries 379: 369: 359: 349: 331:Shareholding 326: 310: 307: 269:S Alam Group 262: 258: 241: 239: 236: 224:Islamic bank 220: 202: 198: 197: 98:Headquarters 18: 1679:Specialized 1559:Uttara Bank 1524:Pubali Bank 1469:Meghna Bank 1464:Jamuna Bank 1388:Janata Bank 1383:Rupali Bank 1378:Sonali Bank 1373:Agrani Bank 1366:State-owned 560:26 November 553:Prothom Alo 412:Bai-Muazzal 344:Percentage 106:City Center 1761:Categories 1666:Woori Bank 1549:Trust Bank 1519:Prime Bank 1509:Padma Bank 1439:Dhaka Bank 1358:Commercial 1177:12 January 1151:12 January 1124:12 January 1096:12 January 1069:12 January 1042:12 January 1014:12 January 983:12 January 957:12 January 928:11 January 893:12 January 866:12 January 837:11 January 806:12 January 780:25 January 753:25 January 721:11 January 695:25 January 670:25 January 645:11 January 612:25 January 585:25 January 482:References 420:HPSM-Ijara 164:Net income 125:Key people 118:Bangladesh 114:Dhaka-1000 92:Bangladesh 1459:IFIC Bank 1429:BRAC Bank 1424:Bank Asia 430:Bai-Salam 426:Musharaka 360:Institute 110:Motijheel 46:Traded as 1631:Citibank 1504:One Bank 1499:NRB Bank 1494:NCC Bank 1252:29 March 1227:29 March 1202:30 March 423:Murabaha 136:Products 70:Industry 36:Formerly 1619:Foreign 1568:Islamic 1414:AB Bank 1407:Private 1290:.siblbd 384:20.21% 370:Foreign 364:48.10% 354:30.23% 217:History 207:Bengali 183:Website 84:Founded 74:Banking 62::  54::  1748:Portal 1218:"SIBL" 576:"SIBL" 380:Public 374:1.36% 292:, and 228:Sharia 203:SIBPLC 188:siblbd 341:Type 232:usury 175:crore 88:Dhaka 1646:HSBC 1292:.com 1254:2019 1229:2019 1204:2019 1179:2023 1153:2023 1126:2023 1098:2023 1071:2023 1044:2023 1016:2023 985:2023 959:2023 930:2023 895:2023 868:2023 839:2023 808:2023 782:2016 755:2016 723:2023 697:2016 672:2016 647:2023 614:2016 587:2016 562:2019 246:HSBC 190:.com 173:668 102:90/1 76:and 64:SIBL 56:SIBL 1288:www 284:, 60:CSE 52:DSE 1763:: 1245:. 1220:. 1195:. 1170:. 1142:. 1114:. 1087:. 1060:. 1033:. 1007:. 993:^ 976:. 949:. 938:^ 920:. 903:^ 884:. 858:. 847:^ 829:. 816:^ 798:. 771:. 739:. 714:. 688:. 663:. 637:. 622:^ 603:. 578:. 550:. 516:. 498:. 296:. 288:, 280:, 276:, 234:. 209:: 205:; 116:, 112:, 108:, 104:, 90:, 1326:e 1319:t 1312:v 1256:. 1231:. 1206:. 1181:. 1155:. 1128:. 1100:. 1073:. 1046:. 1018:. 987:. 961:. 932:. 897:. 870:. 841:. 810:. 784:. 757:. 725:. 699:. 674:. 649:. 616:. 589:. 564:. 534:. 520:. 502:. 201:( 171:ā§ŗ

Index


Traded as
DSE
SIBL
CSE
SIBL
Banking
financial services
Dhaka
Bangladesh
90/1
City Center
Motijheel
Dhaka-1000
Bangladesh
Banking services
Consumer Banking
Corporate Banking
Investment Banking
Islamic Banking
Net income
crore
siblbd.com
Bengali
Islamic bank
Sharia
usury
HSBC
International Islamic Relief Organisation
Islamic Charitable Society

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