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State of banks following Islamic shariah better

State of banks following Islamic shariah better

Bashundhara Group Chairman Ahmed Akbar Sobhan said on Saturday that the condition of banks which are being run under Islamic shariah is better than that of other banks.
He made the remarks while addressing a customers’ conference held at International Convention City, Bashundhara in the capital on the occasion of the 22nd founding anniversary of Social Islami Bank Limited (SIBL).
Mentioning that there is a great problem in the country’s banking sector, he said the state of three to four new banks is very moribund apart from some old banks.
But the condition of the banks which follow Islamic banking is well till now, as the rate of their default loan is the lowest than other banks.
Welcoming the new SIBL board, the chairman of Bashundhara Group, a leading business conglomerate of the country, said those who have taken charge of the bank are established.
They will work well, he hoped.
Praising the SIBL banking activities, he said the bank also stands by customers during their rainy days.
The conference was inaugurated by cutting a mega cake in the evening. Jatiya Party Chairman Hussain Muhammad Ershad, Bashundhara Group Chairman Ahmed Akbar Sobhan, SIBL Chairman Prof Anwarul Azim Arif, Managing Director Quazi Osman Ali, Islami Bank Chairman Arastoo Khan and Managing Director Abdul Hamid Miah, among others, were present on the occasion.
Top officials of different banks and some 7,000 guests were also present at the function.
The SIBL started its operation on November 22, 1995, focusing on banking service as per Islamic

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