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Perfprmance Analysis of Different Modes of Investment

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Aklima Khatun (

). Dept. of Accounting & Information Systems.
Islamic University, Kushtia

This Report is Submitted to the Department of Accounting & Information Systems, Islamic
University, Kushtia in partial fulfillment of the requirement for the degree of Bachelor of
Business Administration (B.B.A) in Accounting & Information Systems.

Supervised By:

Submitted By:

Mr. Md. Ruhul Amin
Assistant Professor
Dept. of Accounting &
Information Systems
Islamic University, Kushtia

Aklima Khatun
B.B.A (Hon’s)
Roll No: 0704058
Session: 2007-2008
Dept. of Accounting &
Information Systems
Islamic University, Kushtia



Respectable Parents,
Honorable Supervisor


I hereby declare that the internship report entitled “Mode of Investment of Islami Bank Bangladesh
Limited.” is my original research work and pursued under the special supervision of Mr. Md. Ruhul
Amin, Assistant Professor, Department of Accounting & Information Systems, Islamic University,

I further affirm that work reported in this term paper is original and no part or whole of the term paper has been submitted to, in any form, any other university or institution for any degree or any other purpose.


Aklima Khatun
Roll No: 0704058
Session: 2007-2008
Dept. of Accounting & Information Systems
Islamic University. Kushtia

Letter of Submission
Date: 20th November, 2012
Mr. Md. Ruhul Amin
Assistant Professor,
Dept. of Accounting & Information Systems
Islamic University, Kushtia.
Subject: Submission of Internship Report on “Mode of Investment of Islami Bank Bangladesh
Dear Sir,
It is my pleasure to submit the internship report on “Mode of Investment of Islami Bank Bangladesh
Limited.” which has been prepared as a part of partial fulfillment of B.B.A. Program. I have tried my best to follow the guidelines that you have provided.
I will be always available for answering any queries on the paper. Hope you will consider the mistakes that may take place in the report in spite of my best effort
Sincerely Yours

Aklima Khatun
Roll No.0704058
Session: 2007-2008
Dept. of Accounting & Information Systems
Islamic University, Kushtia

Certificate of Supervisor
This is to certify that, the report entitled “Mode of Investment of Islami Bank Bangladesh Limited.” submitted by Aklima Khatun student of B.B.A. Dept. of Accounting & Information Systems, Islamic
University, Kushtia is the candidate’s own achievement.

I also certify that, I have gone through the draft copy of the report thoroughly & found it satisfactory for submission to the Department of Accounting & Information Systems, Islamic
University, Kushtia as a part of partial fulfillment of B.B.A. program.


Mr. Md. Ruhul Amin
Assistant Professor,
Dept. of Accounting & Information Systems
Islamic University, Kushtia,

First of all I would like to thank the Almighty Allah for blessing me to complete this report on safe and sound mind.
I owe a great deal of gratitude to my supervisor Mr. Md. Ruhul Amin, Assistant Professor, Dept. of
Accounting & Information Systems, Islamic University, Kushtia.
He offered me continuous guidance and many insightful and constructive observations throughout the study. Basically his support encouragement and availability to discuss ideas and problems have contributed much in completing this report.
I would like to thank AVP, Muhammad Shahidul Islam Manager of Islamic Bank Bangladesh Limited,
Jhenidah Branch for allowing me to do my practical orientation in this bank. I am also grateful to
Investment In-charge, Senior Officer, Md. Robiul Islam and finally want to convey my gratitude to all employees of Jhenidah Branch, Islami Bank Bangladesh Limited.
Actually it was a great pleasure to work in Jhenidah Branch of IBBL every one in there are very much cooperative and they are too much good enough to work any new internship student. My heart mainly goes for Investment area.
I wish to convey my profound gratitude to all of the officers and staffs of IBBL again of Jhenidah
Branch who spent their valuable time to share their experience with me in gathering information.
I am thankful to my friend’s classmates as well as other internship students who are continuing internship program besides me who helped me to complete this report.
After all, my
Almighty Allah for giving me courage and ability to complete this report.
Aklima Khatun
Roll: 0704058
Session: 2007-08
Dept. of Accounting & Information Systems
Islamic University, Kushtia

List of Abbreviation
B.B.A= Bachelor of Business Administration
SEVP= Senior Executive Vice President
IBBL= Islamic Bank Bangladesh Limited
Ltd. = Limited
Govt. = Government
M.D= Managing Director
A.M.D= Additional Managing Director
D.M.D= Deputy Managing Director
E.V.P= Executive Vice President
S.V.P= Senior Vice President
V.P= Vice President
S.A.V.P= Senior Assistant Vice President
A.V.P= Assistant Vice President
F.A.V.P= First Assistant Vice President
S.E.O= Senior Executive Officer
CIB= Credit Information Bureau
ZO= Zonal Office
HO= Head Office
DP Note= Demand Promissory Note
PO= Pay Order
DD= Demand Draft
TT= Telegraphic Transfer
MDTD= Memorandum of Deposit of Title Deed

T/R= Trust Receipt

Table of Contents



Part – One









Submission of Letter



Certificate of Supervisor









List of Abbreviation



Table of contents


Part- Two
Chapter – One





Statement of the Problem.



Objectives of the Study.



Rationale of the Study.



Review of Related Literature



Scope of the Study



Plan of the Study.


Chapter- Two

A Brief Profile of IBBL


Concept of Islami Bank.



Historical Background of Islamic Banking.



Overview of Islami Bank Bangladesh Ltd.



Establishment of Islami Bank Bangladesh Ltd.



Management structure of the Islami Bank


Bangladesh Ltd.

Shariah Council of Islami Bank Bangladesh



Mission of Islami Bank Bangladesh Ltd.



Vision of Islami Bank Bangladesh Ltd.



Corporate Information of IBBL


Special Features of Islami Bank Bangladesh




Important Milestones of IBBL.


Chapter- Three

Methodology of the Study




Types and sources of Data



Methods of Data Collection.



Reliability of data.



Analysis of Data



Limitations of the Study


Chapter- Four

Mode of Investment of IBBL





Prior Consideration to Investment.



Steps of Investment Operations.


Different Modes of Investment.


Investment under Special Schemes of Islami


Bank Bangladesh Limited.

Chapter- Five

Analysis and Findings of the Study

Mode-wise Investment
Sector wise RDS Investment.


SME Investment during the year 2007-2011


Problems, Recommendations &

Problems Relating to Bangladesh.



Problems Relating to Islami Bank Bangladesh
Problems Relating to Investment
Recommendation for Islami Bank Ltd.







Banking becomes popular with the industrial revolution. Now a day’s modern civilization is fully dependable on banking system. Bangladesh is one of the largest Muslim countries in the world.
The people of this country are deeply committed to Islamic way of life as enshrined in the holy
Quran and Sunnah. Naturally, it remains a deep cry in their hearts to fashion and design their economic lives in accordance with the precepts of Islam. The establishment of Islami Bank
Bangladesh Limited on March 13, 1983, is the true reflection of this inner urge of its people. It is committed to conduct all banking and investment activities on the basis of interest–free profitloss sharing system. Islami Bank Bangladesh Limited has by now earned the unique position of a leading private commercial Bank in Bangladesh.

This report contains Investment operation, Investment policy, and various mode of Investment procedures. It also includes features and organizational structure of Islami Bank Bangladesh
Limited. At last, conclusion, findings, & few recommendations have been suggested, which will be helpful to remove some problems existing in the Investment Department.

1.1 Introduction
1.2 Statement of the Problem.
1.3 Objectives of the Study.
1.4 Rationale of the Study.
1.5 Review of Related Literature.

1.6 Scope of the Study.
1.7 Plan of the Study.



Theoretical knowledge doesn’t highlight the reality about any topic as clearly as practical knowledge. Theoretical knowledge is the guideline to gain knowledge about a subject, but practical knowledge is the experience to do something about that subject. So both two are required in our practical life. When we go to work field in order to gain practical knowledge is called internship training and when we achieve theoretical


applied on actual work then it is called internship knowledge.
Internship training is divided into two parts:
(a) Theoretical part: The pre-requisition of practical knowledge is known as theoretical knowledge. As by reading different books, lecture etc.
(b) Practical part: When any particular subject is directly observed and it is analyzed on the basic of theoretical knowledge..


Statement of the Problem

The main business of banking is to provide credit to the branches and take deposits from customers. The success of a bank largely depends upon its efficient lending, earning more profitability, productivity, financial solvency, investing and foreign exchange operations.
Convectional bank charges fixed rate of interest on their credit and the Islamic Bank supplies money to purchase any commodity and then add a specific mark-up or shares with any business or projects and take profit and /or bears losses proportionate to the capital supplied. Interest taking is sinful act in Islamic Shariah. Here the problem leading to a long debate is that whether an effective banking system can run with or without interest? In this connection it is seen that Islamic banks are operating successfully not only in Muslims

countries but also in non-Muslims countries like Argentina, Australia, Denmark, Djibouti,
Germany, Gambia, India, Luxembourg, Philippines, South Africa, Switzerland, Thailand, U.K, and U.S.A. Based on profit and loss sharing concept with disregard to interest based activities the fundament concept on which traditional banks being run. So acceptability of Islamic
Banking is grounding day by day all over the world.

1.3 Objectives of the Study
Main Objectives:
The main objective of this report is to fulfill the requirement of BBA program. On the contrary, it is an attempt to apply the theoretical knowledge gained from the coursework of the BBA program in a specific field.

Other objectives:
The other objectives of this report are to study the Investment Mechanism and policy of
Islamic Bank Bangladesh Limited (IBBL).
There are some other objectives which are equally important. The other objective of the study is to examine the problems relating to investment operation of Islami Bank
Bangladesh Limited (IBBL). However, the specific objectives are the followings:

To get real life experience from the organization which will help in the future job field.

To get an overall idea about the Islamic Banking & IBBL.
To understand the different modes of deposits of IBBL
To review the especial investment services and operating system of IBBL.

 To study the importance of especial investment both from the viewpoint of the bank itself and customers

To identify the major especial investment mechanisms that guides the especial investment transaction of IBBL.

To highlight the problems and necessary recommendations to overcome the problems in investment of IBBL

1.4 Rationale of the Study
There are two types of banking system in Bangladesh. One is conventional which is interest based and another is Islamic, which is interest free, Islamic banks operate their transactions in accordance with the principles of Islamic Shariah. In Islamic Shariah interest is strictly prohibited. Since Bangladesh is a Muslim country and services of the Islamic banks are also good, the acceptability of Islamic banking has been growing day by day. A non-Muslim can also get this opportunity. A lot of research has been conducted on this bank. In feet, Islamic ideology may persist only in an Islamic country but in a country where conventional systems of banking prevail, it may a lot of problems. It is descried that the problem and prospects of
Islamic bank and conventional bank have some different activities. People of Bangladesh generally do not understand this difference. So, the problems and prospects of Islami bank
Bangladesh system vis-à-vis. the conventional banking system should bring to light the operational aspects of both types of banks along with performance. Such as study is considered necessary and this study aims to fulfill this demand of the time. A study convening all these issues becomes and expected to be very significant both from the practical and academic view points to the best of knowledge of the researcher.

1.5 Review of Related Literature
A good number of researchers were conducted on the field of conventional banking as well as Islamic banking, but unfortunately, comparative study on Performance Evaluation of
Islami Bank Bangladesh Limited reveled to be inadequate. A brief summary of the researcher relevant to Performance evaluation of IBBL is enumerated below will support this assumption. A) Dissertations.

1. Chichi (1989) expressed in his PhD. Thesis entitled “Islamic Banking” that Islam may lead to a more just and more beneficial way of development though the western and pro-western economics believe that interest is a must for financial analysis is the study showed that Islamic banking is more appropriate and more relevant to the economic growth and development.
2. Ahmed (1990) has showed in his PhD thesis entitled the contribution of Islamic
Banking to economic Development. A case of the Sudan that the Islamic banks investment and in short term and finance and have done little to promote long-term finance. The researcher also found that these are different factors affecting this role such as the character and strength of demand for financing productive projects.
3. Shallah (1989) made a study on Islamic Banking in an interest based economy - A case study of Jordan. The findings of the research showed that the Jordan Islamic bank has proved viable compared to interest based banks on Jordan.

B) Paper of the seminars and conference
1. Hamid (1999)

presented a paper at the international conference on Islamic

Economics in the 21st century (held) in Malaysia from 09 to 12 August 1999) entitled
Islamic Banking in Bangladesh ; Expectation and realities” and argued that these to types of banks differ only in appearance but not in substance. He compared briefly between the performance of Islami Bank Bangladesh Ltd. and conventional two banks
Arab Bangladesh Bank Ltd. and Pubali Bank Ltd. The author viewed that the people have now great confidence in the Islamic banking activities. He suggested that it is needed to develop appropriate Islamic instruments acceptable to the Shariah and to the practitioners as the basic course of action.

C) Research Articles
1. Alam and Misir (1998)7 made an important study on “Analysis of comparative financial performance in banking sector of Bangladesh. A study of interest free and traditional banks” the study on Arab Bangladesh banks Ltd. and Islami bank

Bangladesh Ltd. was made in terms of profitability productivity, liquidity and contribution to National Exchequer. They found that interest free banking system provides better service to the customers and contributions to the economy as a whole with high stream of moral values that of traditional banking system operating in
Source: phD thesis of professor Dr. Abu Sina,

1. 6 Scope of the Study
As a student of BBA, it is normally essential to know the banking system of any other bank.
In modern world without banking system any organization cannot run in any moments.
Basically my topic is Investment Mechanism and Policy of IBBL, knowing scope is available but time is very short yet I went to bank for my internship report to collect information. At first they taught us to various aspects of Islamic banking system, mainly theoretical knowledge and for practical knowledge. I especially worked Jhenidah Branch of IBBL and take some help besides other Branch of IBBL like Kushtia Branch.

1.7 Plan of the Study
Since it has been stated earlier that the major objectives of the present study are to know the investment planning, sanctioning and recovering of Islami Bank Bangladesh Limited .To do so, the whole research work has been divided into the following chapters:
Chapter-1: Introduction
Chapter-2: A brief profile of Islami Bank Bangladesh Limited.
Chapter-3: Methodology of the Study
Chapter-4: Mode of Investment of IBBL
Chapter-5: Findings and Analysis of the Study
Chapter-6: SWOT Analysis of IBBL.

Chapter-7: Problems, Recommendations and Conclusion.
In fine, the report has been come to an end by dint of a reference section, which includes bibliography, appendix etc.



2.1 Concept of Islami Bank
The bank, which operates under the principles of Islam like based on business and not on the basis of interest of general commercial banks, is called the Islami bank. In broad sense,

an Islami bank is a financial institution that operates with the objective to implement and materialize the economic and financial principles of Islam in the banking arena.
The Organization of Islamic Conference (OIC) defined an Islamic bank as, “A
Financial institution whose statutes, rules and procedures expressly state its commitment to the principles of Islamic Shariah and to the banning of the receipt and payment of interest on any of its operation.”
According to Islamic Banking Act 1983 of Malaysia, “An Islamic Bank is a company, which carries on Islamic Banking Business and holds a valid license, and all the offices and branches
Malaysia of such a bank shall be deemed to be one bank. Islamic Banking Business means banking business whose aims and operations do not involve any element which is not approved by the religion Islam.”

2.2 Historical Background of Islamic Banking
In the early period of Islam, the financial transactions of that period were not as like as today.
As such, the very word banking was not used in that period. But all the transactions in early period of Islam had been completed without resorting to interest. The Muslim world has been in a state of degeneration for a number of centuries. The social breakdown and weakness brought about by this degeneration paved the way for foreign domination, which led to further disintegration and decline.

This decline is decline reflected in all aspects of Muslim life and has been accompanied by poverty, flagrant inequalities of income and wealth, socio-economic injustice, social disharmony and loss of creativity. Nevertheless, the undeniable fact is that the Muslim masses are intensely attached to Islam all over the Muslim world and sincerely crave for its revival and supremacy. The intelligentsia has been always for interest-free economy. But political subjugation defeated them for long to succumb to interest-based economic system.
But the

Early period of the present century received a good manifestation for the cause of Islamic banking i.e. the Islamic economic system.

During the 1930s revival for Islamic banking has been noticed gradually since literatures on the interest-free economy particularly interest-free banking have been developing. During the 1940s after political independence from the colonial rules, most of the Muslim countries faced the struggle for revival of Islamic economy particularly Islamic banking. And the 1970s took a new shape for practical materialization of Islamic banks and financial institutions.

The first attempt to establish an Islamic financial institution took in Pakistan in late 1950s.
It was a local Islamic bank in a rural area of erstwhile Pakistan (Wilson, 1983). It was an experiment initiated by some pious landlords. They deposited funds at no interest on the credit advanced, but they had to pay a small service charge to cover the banks operational expenses. The charge was lower than the fate of interest.
Although the experience was encouraging but two main factors were responsible for its failure. First the deposits made were regarded by depositors (landlords) as once and for all deposits. With the increasing number of borrowers the gap between capital available and credit demanded was huge. Second, the bank staff did not have complete autonomy over the bank's operation and depositors showed considerable interest in the way their money was lent out (Wilson, 1983).
The second attempt began in Egypt in 1963. It was established in a rural area of Nile Delta and was called Mit Ghamr Saving Bank. This attempt may be called the first modern experiment with Islamic banking without projecting an Islamic image, for fear of being seen as a manifestation of Islamic fundamentalism, which was anathema to the political regime.
The pioneering effort, led by Ahmed El Najjar, took the form of a savings bank based on profit sharing in the Egyptian town of Mit Ghamr in 1963. This experiment lasted until 1967
(Ready) 1981), by which time there were nine such banks in the country. These bank which

neither charged nor paid interest, invested mostly by engaging in trade and industry, directly or in partnership with others and shared the profits with their deposits (Siddiqi 1988).
Thus they functioned essentially as saving investment institutions rather than as commercial banks. The experiment suffered by owing to changes the political atmosphere. Nevertheless, the project revived in 1971 under the name of Nasir Social Bank. The Nasir Social bank was declared an interest-free commercial bank, although its charter made no reference to Islam or shariah (Islamic Law). The bank offered a full range of normal banking services and a wide range of investment activities through equity participation (Ashker, 1987).
Islamic banking made its debut in Malaysia in 1983, but not without antecedents. The first
Islamic financial institution in Malaysia was the Muslim Pilgrims Savings Corporation set up in 1963 to help people save for performing hajj. The reason for the establishment of this institution was the contention of the Malaysian Muslims that money spent on pilgrimage must be clean and untainted with Reba. Since this was not possible by putting money with the ordinary banks. And as such, this desire led to the establishment of a special financial institution. In 1969, this body evolved into the Pilgrims Management and Fund Board or the Tabung
Hajj, as it is now popularly known. The Tabung Hajj has been acting, as a finance company that invests the savings of would be pilgrims in accordance with Shariah, but its role is rather limited, as it is a non-bank financial institution. The success of the Tabung Hajj, however, provided the main impetus for establishing Bank Islam Malaysia Berhad (BIMB) which represents a fully fledged Islamic commercial bank in Malaysia. The Tabung Hajj also contributes 12.8 percent of BIMB's initial capital of M$80 million. BIMB has a complement of fourteen branches in several parts of the country.

A significant development in Islamic Banking took place when a license for an Islamic bank was issued by the Saudi Arabian government to the fifty-year old "Al-Rajhi Company". It is a firm noted for its currency, exchange and commercial activities. Its assets exceed 55 billion.

The firm stated operation in 1985 under the name of "Al-Rajhi Banking Investment
Corporation" and has since developed active relationships with major manufacturing and trading companies in Europe and several US corporations.

Islamic Development Bank (IDB) was founded in 1975 as a multinational financial institution by the several Muslim countries. The purpose of this bank is to support social and economic development in Muslim nations within an Islamic framework. The subscribers of the capital are the founder governments and as such it was established on government treaty.

2.3 History: Islamic Banking in Bangladesh
1974- as a founder member of Islamic Development Bank, Bangladesh government subscribe to its charter which stipulates to undertake research for enabling the economic, financial and banking activities in the Muslim countries to conform to shariah.
1978- The Islamic foreign ministers conference held in Dakar, Senegal in April 1978, recommended to members of the OIC to make a systematic effort to establish Islamic bank gradually. Bangladesh participated in the above conference and responded to above recommendation. [

1977-82- seminars symposia and workshop on Islamic banking system were arranged by different socio-economic organizations.
1980- Bangladesh Bank makes study on the operations of Islamic abroad.
1981- In the third OIC summit held in Makkah and Taef, the then president of Bangladesh made suggestions to the Islamic countries to develop a separate banking system of their own in order to facilitate their trade and commerce.
1982- Islamic Development Bank came forward to participate a joint venture Islamic bank in Bangladesh.
1983- Islami Bank Bangladesh Limited came into reality as the first Islamic bank in the south-east Asia.


Establishment of Islami Bank Bangladesh Ltd.

Islami Bank Bangladesh Limited is a Joint venture Public Limited company incorporated as the first Shariah based interest free Bank in South-East Asia on the 13th March 1983 engaged in commercial banking business having largest branch network among the private sector
Banks in Bangladesh. It is listed with Dhaka Stock Exchange Ltd. and Chittagong Stock
Exchange Ltd.
The first branch of the bank i.e. Local Office, Motijheeel, Dhaka started functioning on 30th
March 1983. Thaw bank formally inaugurated on 12th August 1983. The authorized capital of the bank is Tk200000 million and Paid up capital is Tk. 10007.71 million as on 15th
November 2011. At present bank have 266 branches including SME Branches.
Source: Annual Report 2011

2.5 Management Structure of Islami Bank Bangladesh Ltd.
Islami bank Bangladesh limited is being managed by a board of directors comprising foreigners and local. An executive committee is formed by the board of directors for efficient and smooth operation of the Bank. Besides a management committee looks after the affairs of the bank.
The organizational hierarchy of IBBL can be shown in the following chart:

Executive President (EP)
Deputy Executive President (DEP)

Executive Vice President ( EVP)
Senior Vice President (SVP)
Vice President (VP)
Assistant Vice President (AVP)
Senior Principal Officer (SPO)
Principal Officer (PO)
Senior Officer (SO)
Probationary Officer
Assistant Officer Grade - I

2.6 Sharia’h Council Islami Bank Bangladesh Ltd.
The Shariah council of the bank plays a very important role in framing and exerting policy for strict adherence of Shariah Principles in the bank. The Council is represented by 13 members consisting of prominent Ulama having adequate knowledge in Fiqhul Moamalat,
Renowned lawyers and eminent economists to advice and guide on the implementation and compliance of Shariah principles in all activities of the bank particularly on the modes of investment. The Council of the bank is governed by its bye-laws and enjoys a special status in the bank. The representatives of the council attend all formal and informal meetings of the bank, such as the meetings of Board of Directors, Executive committee, audit committee, management committee and other relevant committees and manager’s conference to give opinions and oversee of the bank from the view point of Shariah. Member secretary of the council or his representative is one of the members of academic council of IBTRA. The council also evaluates the performance of the officials in terms of Shariah compliance.

2.7 Mission of Islami Bank Bangladesh Ltd.
To establish Islamic baking through the introduction of a welfare oriented banking system and also ensure equity and justice in the field of all economic activities, achieve balance of growth and equitable development through diversified investment operations particularly priority sectors and less developed areas of the country.

To encourage socio-economic uplift and financial services to the low income community particularly in the rural areas.

2.8 Vision of Islami Bank Bangladesh Ltd.
Our vision is to always strive to achieve superior financial performance, be considerate a leading Islamic bank by reputation and performance.
Our goal is to establish and maintain the modern banking techniques, to ensure the soundness and development of financial system based on Islamic principles and to become the strong and efficient organization with highly motivated professionals, working for the benefit of people, based upon accountability, transparency and integrity in order to stability of financial systems.
We will try to encourage saving in the form direct investment.
We will also try to encourage investment particularly in project which are more likely to lead to higher employment.

2.9 Corporate Information of IBBL
1. Date of incorporation

: 13th march 1983.

2. Date of banking license
3. Inauguration of 1st branch –

:28th march 1983
:30th march 1983. Local office, Dhaka.

4. Formal inauguration –

:12th August 1983.

5. Authorized capital (as on June 2011)–

:TK 200000 million

6. Paid up capital (30 June 2011) –

:TK 10007.71 million

7. Share of Capital:
8. Local Shareholders-


9. Foreign Shareholders-


10. Total equity of the bank –

:TK. 33512 million (as on 30.10.11)

11. Zone-


12. Branches –


13. Deposit –

:335578 million

14. Investment –

:329906 million

15. Foreign exchange business –

:TK. 610199 million

16. Manpower –


17. Number of Shareholders-


ATM booth:
18. No. of Own ATM booths-


19. No. of Share ATM boots-


Source: Annual Report 2011

2.10 Special Features of Islami Bank Bangladesh Ltd.

All activities are conducted on interest free system in accordance Islamic shariah principles. 

Investment is made through different mode approved by Islamic shariah.

Investment of the bank is shared with the mudaraba depositor at an agreed upon ration ensuring a reasonably fare rate on their deposits.

The bank places a vital role in human resource development and employment generation particularly among the educated unemployed youths.

Investment policy and port-folio have been especially tailored to achieve balanced growth and equitable development through diversified investment operations particularly in the priority sectors and the less developed areas of the national economy. 

The bank ensures shariah compliance through regular and effective guidance of powerful and highly esteemed shariah supervisory committee consisting of twelve members representing shariah scholars.

2.11 Important Milestones of IBBL:

Opening of 100 branches

: 12th June 1997

Opening of 200 branches

: 21th June 2009

Opening of 250 branches

: 15th December 2010

Opening of First Shared ATM booth

Opening of 100 own ATM booths

100% Branch online banking

Exclusive Sponsor for Beautification of

Dhaka city on the occasion of Cricket

Cup 2011.

Source: Annual Report 2011

: 2001
: 2009
: 7th January 2011

3.1 Introduction
3.2 Types and sources of Data
3.3 Methods of Data Collection.
3.4 Reliability of data.
3.5 Analysis of Data
3.6 Limitations of the Study

3.1 Introduction.
For completing this report I have studied the various literatures about Islamic Bank, Islamic
Banking book and the material which have provided by the Islamic Bank Bangladesh

Limited. I have also observed practical operation of the Bank, interviewed employee and client of the Bank. And some practical works by me are the main sources of this report.
I have got much information from Islamic Bank website and Annual report of the bank.

3.2 Types and sources of Data.
The data collected from IBBL are classified into two categories. Such as:
Primary data
 Secondary Data

a) Collection of Primary Data:
I selected Islamic Bank Bangladesh Ltd, Jhenidah branch. I worked there and collected necessary information and data. During the period of my internship I used to contact with respective investment departments official for procuring and arranging the required information related to my study. Again I apply interview method for rectifying my observation on the investment perspective.
b) Collection of Secondary Data:
I collected a huge number of secondary data with a view to preparing a good report.
The data-collection-activities are as follows:
Data & Information

Primary Source

(Revealed by)

Secondary Source

(Revealed by)

Reference books on banking  Personal observation
 Personal observation
 Face to face conversation of the officers.
 Annual Reports
 Practical work
 IBBL Operation Manual
 Face to face conversation of the client.
 IBBL Web site
3.3 Methods of Data Collection.
 Branch Managers’
We have selected the following two methods for collection of data for our study:

a) The library work method.
b) The observation method.

a) The library work method
The work has been primarily confined to studies relating to various aspects of bank finances for rural development. We have gone through different journals, periodicals, books and Govt. publications and have obtained necessary data for the purpose.

b) The observation method
Observation method is considered as one of the most important method of collection data.
This is a specific process of scientific investigation of collecting necessary information by the observer. The success of this method depends largely upon the exercise and capacity of the observer. Therefore, the researcher is expected to record the relevant data as soon as those come to his notice. For this purpose, we have maintained a diary form the very beginning of the study. Information revealed through observation had been noted down in the diary.

3.4 Reliability of data.
The reliability of the data depends on the actual observation and proper analysis. The measure of reliability also varies from observation to observation and from time to time.
From the every outset, we were careful of the reliability of the data which have been collected and used for purpose of the study.
At the time of collection the primary data, we have been particularly of cautions about the usual errors that may be cropped up during the course of the interview. All precautionary measures to minimize the changes of errors in such case have taken. The questionnaires have been designed in such a manner that there has always been a scope for cross checking mainly to verify the authentically of those items that have been filled-up through verbal interrogation. The maintenance of a diary to note downs the observation of the activities of

the respondents and other related persons have further helped us to go through crosschecking on the primary data.
We have used the secondary data of our study purpose. As pointed our earlier. The secondary data have been obtained from various governmental and non-governmental sources. As these data are normally accepted and used by all the governmental bodies, these may be considering reliable for the purpose of the study. All these approaches, we supposes, would justify our presumption that the data collected and used by us for the purpose of our study would be fairly reliable.

3.5 Analysis of Data.
The collected data and information have been analyzed by using descriptive measure as growth rate, trend etc. Although scientific explanations through implementing statistical processes is sometimes difficult or impossible to explain the maximum precaution was taken to present the data in an understandable form, from which one can arrive at a decision.
Modern technology was used in the data analysis necessary tables; charts and diagrams were made using software packages like Microsoft Excel 2007, Microsoft Word 2007.

3.6 Limitations of the Study
No work is free from any limitation. For preparing the report a lot of problem is suffered by the researcher. These are as follows:
1. For the operation a report various relevant data and information are most essential. But the officials did not operate to meet the requirement.
2. I observed that unskilled persons are available in IBBL; they are not able to teach us various aspects.
3. There are also limitations regarding memory and knowledge of the respondent.
4. Due to limited time it was not possible to prepare the report properly.
5. There is no experience to prepare such kind of report.
6. Unavailability to required published documents.

In spite of these limitations it can be said that such limitations are common to almost all data base study. Yet the researcher has tried his best to minimize the profitability of errors.
However the researcher believes that after taking possible precautions and findings have been affected very little by the limitation of the study.

4.1 Introduction.
4.2 Prior Consideration to Investment.
4.3 Steps of Investment Operations.
4.4 Different Modes of Investment.
4.5 Investment under Special Schemes of Islami Bank
Bangladesh Limited.

4.1 Introduction.
Islamic Bank Bangladesh Limited being an ideological banking organization is firmly committed to implement and materialize the economic and financial principles of Islam in the banking arena and thereby to do disparity and establish justice in the trade, commerce and industry and build socio-economic infrastructure, create opportunities for employment and income generation and poverty alleviation, contribute to the socio-economic enlistment and sustained economic growth of the country.
Investment operation of a Bank is of vital importance the greatest share of total revenue is generated from it, maximum risk is centered in it and the very existence of a Bank mostly depends on prudent management of its Investment Port-folio.
As Such, for efficient employment of mobilized resources in profitable, safe and liquid investments, a sound, well-defined, well-planned and appropriate Investment Policy framework is necessary prerequisite for achieving the goal of the Bank.

4.2 Prior Consideration to Investment
In case of Investment decision IBBL considers various aspects relating to the investment receiver. In below the major considerations are given

He must have a current account in the bank.

He should have good behavior

He must be a honest businessman

He should have market reputation/goodwill in the business

He should have a good transaction profile

High market demand of commodity

Does he follow the rules and regulations of the country

Repayment capacity of investment receivable

CIB (Confidential Information Bureau)

4.3 Steps of Investment Operations.
In case of investment operation, Bank management follows some steps absolutely to avoid the forgery. The steps are as follows--4.2.1 Proposal Preparation
4.2.2 Sanctioning
4.2.3 Disbursement
4.2.4 Recovery

4.3.1 Proposal Preparation.
The investment officer prepares the proposal for a relevant investment-client and sends it to the authorized officer or executive to permit it. In this case, he has to take some documents from the relevant investment-client and. He collects various necessary information about the client. Most of the documents are as follows:

Appraisal Report prepared by Bank, F-167 B.


Application of Client in his pad.


Application of Client in Bank’s form, prepared by client, F-167 A.


Audit Reports(last three years) of the related enterprise by Audit Firm including the following information, Balance Sheet, Schedule of Fixed Assets, Schedule of
Proprietor’s Capital & Fund A/C, Profit & Loss A/C, Trading A/C


Proprietor’s curriculum vitae with business experience in his pad.


Schedule of movable properties of clients, prepared in his pad.


Schedule of Fixed Assets of the client in his pad, prepared by the client.

(viii) Schedule of Sundry Debtors in his pad, prepared by the client.

Schedule of Sundry Creditors in his pad, prepared by the client.


Statistical schedule of Income & Expenditure of last three years the related enterprise in his pad, prepared by the client.


Schedule of all the enterprises which are related with the relative enterprise for business purpose, prepared by client in his pad.


Schedule of owner’s Sales Center, prepared by client in his pad.

(xiii) Schedule of warehouses and its capacity.
(xiv) Schedule of associate enterprises, prepared by client in his pad.

Schedule of investment in the business, prepared by client in his pad.

(xvi) Certificate on other Bank’s investment to the relevant business (if any).
(xvii) Import Registration Certificate (if necessary), attested copy.
(xviii) Tax Pay Certificate, attested copy.
(xix) Trade License.

VAT payment certificate.

(xxi) Stock Report of Goods including goods securities A/C, prepared by client in his pad, authorized by inspecting officers and also Investment Officer, 2nd officer & Manager.
(xxii) Statements of various accounts of client and its partner concerns, prepared by Bank.
(xxiii) Client’s L/C from branch manager of the Bank.
(xxiv) Performance of partner concern’s L/C from other Bank (if any) by the branch manager of the related Bank.
(xxv) Property valuation certificate.
(xxvi) Physical inspection certificate of properties offered for mortgage with authorized signature of Investment Officer, 2nd Officer and Manager.
(xxvii) Memorandum and Articles of Association of client’s enterprise.
(xxviii) Lending investment risk analysis, prepared by Bank in its form.
All the above documents are signed by the client, attested by the gazette officer (if any). After receiving these documents from the client the investment officer prepares the proposal and sends to the authorized officer or executive for sanctioning the investment.

4.3.2 Sanctioning
In this step the executive or officer who is responsible for sanctioning the investment, permit to invest obeying the organization’s rules & regulations and considering the documentations of the relevant client. And he sends the sanctioning letter to the relevant investment officer for disbursement.

4.3.3 Disbursement
In this step the investment officer of the relevant branch of bank disburses the permitted investment. In this case IBBL does not give all the amount of investment; but gives it partially for bank’s controlling opportunities. For this purpose the permitted investment is divided into some parts and the parts are given time to time in step by step by considering the paying conduct of the client. Here is the basic distinction between IBBL and Traditional Banks.
In case of disbursement, the following charge documents are taken from the client for every part of investment of the total investment. Application of client in his own relevant enterprise’s pad. Quotation of goods must be verified including market price from supplier, accepted and signed by the authorized officer(s) of the Bank.
1. Bill from supplier (after sale).
2. Pre-Audit Memo on Investment,F-215.
3. Form of goods sales,F-191.
4. Demand Promissory Note, CF-1.
5. Balance Confirmation Letter, CF-16.
6. Letter of Disbursement, CF-6.
7. Demand Promissory Note Delivery Letter, CF-3.

8. Schedule of purchase and sales of goods, F-190.
9. Letter of Hypothecation, CF-5.
10. Trust Receipt, CF-11.
11. Letter of Guarantee, CF-14.
12. Related Agreement Form.
All the above charge documents are signed by the client, the Investment Officer, 2nd Officer and Manager.

4.3.4 Recovery
The Bank invests its fund to the Clients as a rule the Clients generally pay the respective amount to the Bank timely. If the Client fails to pay the amount, the bank sends a notice three times to pay to the Bank. After the declaration of final notice, the Bank is bound to go to the legal action to recover its fund. In this case, the legal charge and fines must be brought by the

4.4 Different Modes of Investment.
Allah has permitted Bai (Buying and selling i.e trading) & prohibited Riba. Islamic Bank
Bangladesh Limited in all its transactions restricts Riba and conducts its investment portfolio under the following three mechanisms.
4.4.1 Bai-Mechanism
1. Bai-Murabaha
2. Bai-Muajjal
3. Bai-Salam
4. Istishna’a
4.4.2 Ijara Mechanism
1. Hire Purchase Under Shirkatul Melk

2. Ijara
4.4.3 Share Mechanism
1. Mudaraba
2. Musharaka
Now we analyze the investment mechanisms in IBBL including their Induction of Client,
Application, Processing and Appraisal, Sanction, Documentation, Trading (Purchase, Sale and Delivery of Goods) rules7 regulations etc.
4.4.1 Bai-Machanism
1 Bai-Murabaha
Bai-Murabaha may be defined as a contract between a buyer and a seller under which the seller sells certain specific goods (permissible under Islamic Shariah and the Law of the land), to the buyer at a cost plus agreed profit payable in cash or on any fixed future date in lump-sum or by installments. The profit marked-up may be fixed in lump-sum or in percentage of the cost price of the goods.
The terms "Bai-Murabaha" have been derived from Arabic words ‫ ﺢﻳﺑ‬and ‫( ﺢﺑﺭ‬Bai and
Ribhun). The word ‫ ﺢﻳﺑ‬means purchase and sale and the word ‫ ﺢﺑﺭ‬means an agreed upon profit. ‫ " ﺢﻳﺑ ﺢﺑﺍﺭﻣﺍ‬Bai-Murabaha" means sale on agreed upon profit.

Bai-Murabaha may be defined as a contract between a Buyer and a Seller under which the
Seller sells certain specific goods permissible under Islamic Shariah and the Law of the land to the Buyer at a cost plus agreed profit payable in cash or on any fixed future date in lump sum or by installments. The profit marked-up may be fixed in lump sum or in percentage of the cost price of the goods.

Types of Murabaha
In respect of dealing parties Bai-Murabaha may be of two types.

Ordinary Bai-Murabaha

If there are only two parties, the seller and the buyer, where the seller as an ordinary trader purchases the goods from the market without depending on any order and promise to buy the same from him and sells those to a buyer for cost plus profit, then the sale is called
Ordinary Bai-Murabaha.

Bai-Murabaha on Order and Promise
If there are three parties, the buyer, the seller and the Bank as an intermediary trader between the buyer and the seller, where the Bank upon receipt of order from the buyer with specification and a prior outstanding promise to buy the goods from the Bank, purchases the ordered goods and sells those to the ordering buyer at a cost plus agreed profit, the sale is called "Bai-Murabaha on Order or Promise", generally known as Murabaha.

Important Features
It is permissible for the Client to offer an order to purchase by the Bank particular goods deciding its specification and committing him to buy the same from the Bank on Murabaha,
i.e. cost plus agreed upon profit.
It is permissible to take cash/collateral security to guarantee the implementation of the promise or to indemnify the damages. After purchase of goods the Bank must bear the risk of goods until those are actually sold and delivered to the Client, i.e., after purchase of the goods by the Bank and before selling of those on Bai-Murabaha to the Client buyer, the Bank shall bear the consequences of any damages or defects, unless there is an agreement with the Client releasing the Bank of the defects, that means, if the goods are damaged, Bank is liable, if the goods are defective, (a defect that is not included in the release) the Bank bears the responsibility. The Bank must deliver the specified Goods to the Client on specified date and at specified place of delivery as per Contract. The Bank shall sell the goods at a higher price (Cost + Profit) to earn profit. The cost of goods sold and profit mark-up therewith shall separately and clearly be mentioned in the Bai-Murabaha Agreement. The profit mark-up may be mentioned in lump sum or in percentage of the purchase/cost price of the goods. But, under no circumstances, the percentage of the profit shall have any relation with time or

expressed in relation with time, such as per month, per annum etc. The price once fixed as per agreement and deferred cannot be further increased. It is permissible for the Bank to authorize any third party to buy and receive the goods on Bank's behalf. The authorization must be in a separate contract.

2 Bai-Muajjal
Bai-Muajjal may be defined as a contract between a buyer and a seller under which the seller sells certain specific goods (permissible under Islamic Shariah and the Law of the country), to the buyer at an agreed fixed price payable at a certain fixed future date in lump-sum or within a fixed period by fixed installments. The seller may also sell the goods purchased by him as per order and specification of the buyer

The terms " Bai " and " Muajjal " have been derived from Arabic words ‫ ﻊﻴﺒ‬and ‫ . ﻝﺟﺍ‬The word ‫ ﻊﻴﺒ‬means purchase and sale and the word ‫ ﻝﺟﺍ‬means a fixed time or a fixed period. "
Bai-Muajjal " means sale for which payment is made at a future fixed date or within a fixed period. In short, it is a sale on Credit.

Bai-Muajjal may be defined as a contract between a Buyer and a Seller under which the Seller sells certain specific goods (permissible under Shariah and Law of the Country), to the Buyer at an agreed fixed price payable at a certain fixed future date in lump sum or within a fixed period by fixed installments. The seller may also sell the goods purchased by him as per order and specification of the Buyer.
In this Bank, Bai-Muajjal is treated as a contract between the Bank and the Client under which the Bank sells to the Client certain specified goods, purchased as per order and specification of the Client at an agreed price payable within a fixed future date in lump sum or by fixed installments.
Thus it is a Credit sale of goods by which ownership of the goods is transferred by the Bank to the Client but the payment of sale price by the Client is deferred for a fixed period.

It may be noted here that in case of Bai-Muajjal and Bai-Murabaha, the Islamic Bank is a financier to the Client not in the sense that the Bank finances the purchase of goods by the
Client, rather it is a financier by deferring the receipt of the sale price of goods, it sells to the
Client. If the Bank does not purchase the goods or does not make any purchase agreement with seller, but only makes payment of any goods directly purchased and received by the
Client from the seller under Bai-Muajjal / Bai-Murabaha Agreement, that will be a remittance/payment of the amount on behalf of the Client, which shall be nothing but a loan to the Client and any profit on this amount shall be nothing but Interest. Therefore, purchase of goods by the Bank should be for and on behalf of the Bank and the payment of price of goods by the Bank must be made for and on behalf of the Bank. If in any way the payment of price of goods is turned into a payment for and on behalf of the Client or it is paid to the
Client any profit on it will be Riba.

Important Features

To offer an order by the client to the bank.


To make the promise binding upon the client to propose from the bank indemnity the damages caused by breaking the promise.


To take security in the form of cash / kind. Collaterals.


To document the depts. resulting from Bai Muajjal.


Bank may sell it at a higher price.


Price once fixed cannot be increased.


It is permissible for the Client to offer an order to purchase by the Bank particular goods deciding its specification and committing him to buy the same from the Bank on BaiMuajjal i.e. deferred payment sale at fixed price.


It is permissible to make the promise binding upon the Client to purchase from the
Bank, that is, he is to either satisfy the promise or to indemnify the damages caused by breaking the promise without excuse.


It is also permissible to document the debt resulting from Bai-Muajjal by a Guarantor, or a mortgage. or both like any other debt. Mortgage / Guarantee / Cash security may be obtained prior to the signing of the Agreement or at the time of signing the

and also to

10. Stock and availability of goods is a basic condition for signing a Bai-Muajjal Agreement,
Therefore, the Bank must purchase the goods as per specification of the Client to acquire ownership of the same before signing the Bai-Muajjal Agreement with the
11. After purchase of goods the Bank must bear the risk of goods until those are actually delivered to the Client.
12. The Bank must deliver the specified Goods to the Client on specified date and at specified place of delivery as per Contract.
13. The Bank may sell the goods at a higher price than the purchase price to earn profit.
14. The price once fixed as per agreement and deferred cannot be further increased. The
Bank may sell the goods at one agreed price which will include both the cost price and the profit. Unlike Bai-Murabaha, the Bank may not disclose the cost price and the profit mark-up separately to the Client.

3 Bai-Salam
Under this mode Bank will execute purchase contract with the client and make payment against purchase of product, which is under process of production. Bai-Salam contract will be executed after making any investment showing price, quality, quantity, time, place and mode of delivery. The profit is to be negotiated. In this mode the payment as the price of the goods is made at the time of Agreement and the delivery of the goods is deferred.

4 Istishna’a
Isteshna’a is a contract between a manufacturer/seller and a buyer under which the manufacturer/seller sells specific product(s) after having manufactured, permissible under
Islamic Shariah and Law of the Country after having manufactured at an agreed price payable in advance or by installments within a fixed period or on/within a fixed future date on the basis of the order placed by the buyer.

4.4.2 Ijarah Mechanism
1. Higher purchase Under Shirkatul Melk

Meaning and Definition
Hire Purchase under Shirkatul Melk is a Special type of contract which has been developed through practice. Actually, it is a synthesis of three contracts:
(a) Shirkat
(b) jarah
(c) Sale
(a) Shirkatul Melk
(b) Shirkat means partnership. Shirkatul Melk means share in ownership. When two or more persons supply equity, purchase an asset, own the same jointly, and share the benefit as per agreement and bear the loss in proportion to their respective equity, the contract is called Shirkatul Melk contract.

(c) Ijarah
The term Ijarah has been derived from the Arabic works (Air) and (Ujrat) which means consideration, return, wages or rent. This is really the exchange value or consideration, return, wages, rent of service of an ASSET. Ijarah has been defined as a contract between two parties, the Hire and Hirer where the Hirer enjoys or reaps a specific service or benefit against a specified consideration or rent from the asset owned by the Hire. It is a hire agreement under which a certain asset is hired out by the Hire to a Hirer against fixed rent or rentals for a specified period.
(d) Sale
This is a sale contract between a buyer and a seller under which the ownership of certain goods or asset is transferred by seller to the buyer against agreed upon price paid / to be paid by the buyer.
Thus, in Hire Purchase under Shirkatul Melk mode both the Bank and the Client supply equity in equal or unequal proportion for purchase of an asset like land, building, machinery, transports etc. Purchase the asset with that equity money, own the same jointly; share the

benefit as per agreement and bear the loss in proportion to their respective equity. The share, part or portion of the asset owned by the Bank is hired out to the Client partner for a fixed rent per unit of time for a fixed period. Lastly the Bank sells and transfers the ownership of its share / part / portion to the Client against payment of price fixed for that part either gradually part by part or in lump sum within the hire period or after the expiry of the hire agreement. Stages of Hire Purchase Under Shirkatul Melk
Thus Hire Purchase under Shirkatul Melk Agreement has got three stages:

Purchase under joint ownership.

Hire and

Sale and transfer of ownership to the other partner Hirer.

Rules For Hire Purchase Under Shirkatul Melk

It is a condition that the subject (benefit/service) of the contract and the asset should be known comprehensively.

It is a condition that the asset to be hired must be a fungible one which cannot be used more than once or in other words, the asset must be a non-fungible one which can be utilized more than once or the use/benefit of which can be separated from the asset itself. 

It is a condition that the subject (benefit/service) of the contract must actually and legally be attainable/derivable.

It is a condition that the Hirer shall ensure that he will make use of the asset as per provisions of the agreement or as per customs/norms/practice, if there is no expressed provision.

The hire contract is permissible only when the asset and the benefit/service derived from it is within the category of ‘Halal’ or at least ‘MOBAH’ as per Islamic Shariah.

The Hiree is under obligation to enable the hirer to the benefit from the asset by putting the possession of the asset at his disposal in useable condition at the commencement of the hire period.

In a hire contract, the period of hire and the rental to be paid per unit of lime are clearly stated.

Everything that suitable to be considered a price, in a sale, can be suitable to be considered rental in a hire contract.

It is a condition that the rental falls due from the date of handing-over of the asset to hirer and not from the date of contract or use of the asset.

It is permissible to advance, defer or install the rental in accordance with the agreement. 

It is permissible to review the hire period or the rental or the both, if the hiree and the hirer mutually agree to do so.

The hired asset is a trust in the hands of the hirer.

The hiree/owner bears all the costs of legally binding basic repairs and maintenance.

It is permissible to make the hirer to bear the cost of ordinary routine maintenance.

The hire contract is binding and on one party shall unilaterally rescind except reasons that abrogate binding contract such as damage or destruction.

It is also permissible to sell the hired asset by the hire to the hirer during the tenure of the hire period either part by part or in full at a time.

Under Hire Purchase under Shirkatul Melk Agreement, both the Hire and the Hirer must pay their respective equity as agreed upon to purchase the demised asset under joint ownership.

Ownership of the asset of both the hiree and hirer should be recognized ass per law of the land.

In a Hire Purchase under Shirkatul Melk contract, it is permissible to divide the sale/cost price of the asset or ownership of the hire to the asset into several parts and to sell each part of ownership on payment of proportionate sale/cost price of the hire.

2. Ijarah

The term Ijarah has been derived from the Arabic works Ajr and Ujrat which means consideration, return, wages or rent. This is really the exchange value or consideration , return, wages rent of service of an Asset. Ijarah has been defined as a contracty between two parties, the Hiree and Hirer where the Hirer enjoys or reaps a specific service of benefit against a specified consideration or rent from the asset owned by the Hiree. It is a hire agreement under which a certain asset is hired out by the Hiree to a Hirer against fixed rent or rentals for a specified period.

Important features
In case of Hire Purchase under Shirkatul Melk transaction the asset / property involved is jointly purchased by the Hire (Bank) and the Hirer (Client) with specified equity participation under a Shirkatul Melk Contract in which the amount of equity and share in ownership of the asset of each partner (Hire Bank & Hirer Client) are clearly mentioned.
Under this agreement, the Hire and the Hirer becomes co-owner of the asset under transaction in proportion to their respective equity participation.
In Hire Purchase under Shirkatul Melk Agreement, the exact ownership of both the Hire
(Bank) and Hirer (Client) must be recognised. However, if the partners agree and wish that the asset purchased may be registered in the name of any one of them or in the name of any third party, clearly mentioning the same in the Hire Purchase Shirkatul Melk Agreement.
However, in IBBL, no third party registration shall be allowed.
The share / part of the purchased asset owned by the Hire (Bank) is put at the disposal / possession of the Hirer (Client) keeping the ownership with him (Bank) for a fixed period under a hire agreement in which the amount of rent per unit of time and the benefit for which rent to be paid along with all other agreed upon stipulations are also to be clearly stated. Under this agreement, the Hirer (Client) becomes the owner of the benefit of the asset but not of the asset itself, in accordance with the specific provisions of the contract which entitles the Hire (Bank) is entitled for the rentals.

As the ownership of hired portion of the asset lies with the Hire (Bank) and rent is paid by the Hirer (Client) against the specific benefit, the rent is not considered as price or part of price of the asset.
Hire Purchase under Shirkatul Melk transaction facilitates the Client (Hirer) to get benefit from the hired asset in exchange of rental and also to become full owner of the asset by purchasing it part by part.

If, for any reason, the hire contract is revoked prior to the transfer of full title of the asset to the Hirer, then the title of the asset will be shared by both Hire and Hirer – the Hirer will share that part of title which has been transferred to him against payment and the Hire will share the remaining part.

The Hirer to secure the Bank (the Hire) will pledge / hypothecate / mortgage his portion / part / share in the asset (acquired / to be acquired) and or any other asset / property of his own / third party guarantor to the Bank to fulfill his all liabilities / commitments including the accrued rental, if any.

4.4.3 Share Mechanism
1 Mudaraba
It is a form of partnership where one party provides the funds while the other provides the expertise and management. The first party is called the Sahib-Al-Maal and the latter is referred to as the Mudarib. Any profits accrued are shared between the two parties on a preagreed basis, while capital loss is exclusively borne by the partner providing the capital.

2 Musaraka
An Islamic financial technique that adopts "equity sharing" as a means of financing projects.
Thus, it embraces different types of profit and loss sharing partnership. The partners
(entrepreneurs, bankers, etc.) share both capital and management of a project so that profits will be distributed among them as per ratios, where loss is shared according to ratios of their equity participation.

4.4 Investment under Special Schemes of Islami Bank Bangladesh Limited.
Islami Bank Bangladesh Ltd. being welfare oriented banking institution has by now designed and implemented 11 ( eleven) investment schemes keeping in view the needs of different sectors and various sections of people for their socio-economic up liftmen and to improve their quality of life. All the schemes so far introduced have gained popularity and receive response of the general masses and also being appreciated by the intellectual classes of the society. 4.5.1 List of the IBBL’s Special Schemes:
Small Business Investment Scheme (SBIS): Bangladesh, a third-world developing country, is rich in natural and human resources. In spite of vast possibilities, the majority people of the country live in hardship-below poverty line as these resources are not being properly tapped, explored and exploited. Physical labor is their only means of earning. A large segment of this populace is active youth force. Many of them are efficient, intelligent and

energetic with initiative & drive and have courage to take risks. But they cannot uplift their socio-economic condition due to poverty, lack of financial support and other required facilities. Lack of capital compelled many small traders to leave their profession. As a result the unemployment problem has been increasing day by day, and the unemployment youths, finding no avenues of employment, are getting themselves involved in anti-social activities creating threat to the social life.
Islami Bank, as welfare oriented financial institution, is committed to generate employment and bring about an overall improvement in the socio-economic condition of the people and the quality of their life. The Bank, to make effective contribution in this respect, has takenup a special programs and introduced 'Small Business Investment Scheme' to make the small traders, entrepreneurs and neglected unemployed youths of urban and rural areas selfreliant by providing them required financial support.

Investment Schemes for Doctors (ISD): One of the fundamental rights of every man is to receive necessary Medicare facilities. Majority of our people are denied and deprived of this right and a large number of our children are ill fed and suffer from malnutrition and ill health.
Subsequently they become victims of various diseases due to lack of education and knowledge about health care and preventive measures. Medicare facilities as a whole are very limited in the country. Although medical facilities are available to some extent in the cities and towns, majority of the people of the rural area die without Medicare and treatment after prolong sufferings from various diseases.

Agricultural Implementation Investment Scheme (AIIS): Bangladesh is predominantly an agricultural country with vast majority of people living in rural areas. Most of our people, for their living, are dependent on agriculture. Agriculture still contributes the lion share of the gross domestic product. But we could not as yet become self-sufficient in food production. We still import a bulk quantity of food grains from abroad to meet the deficit.
This reliance on import has made us dependent on others. We must modernize our

agriculture and establish more and more industries in order to minimize imports. We can bring about revolutionary changes in the agricultural sector by adopting modern agricultural technology replacing the age-old traditional way of cultivation and increasing the use of fertilizer. This can only be done by collective efforts of both public and private sectors. Islami
Bank Bangladesh Limited is a welfare oriented Bank. It can play positive and important role in the economic development, progress and uplift of the country by investing in the agricultural sector. The Bank has, therefore, introduced "Agriculture Implements
Investment Scheme" to provide power tillers, power pumps, shallow tube wells, thrasher machine etc. on easy terms to the unemployed youths for self-employment and to the farmers to help augment production in agricultural sector.

House Hold Durable Scheme (HDS) : In a developing country like Bangladesh people of middle and lower middle class specially service holders with limited income find it difficult to purchase articles like refrigerator, television, cot, almirah, wardrobe, sofa-set, pressure cooker, sewing machine etc. which are part of modern and decent living. They cannot enhance the standard and quality of life to the desired level due to the constrain of their limited income.
Islami Bank Bangladesh Limited has, therefore, introduced Household Durables Investment
Scheme which has already created great enthusiasm among the people and received tremendous response from them.

Housing Investment Scheme (HIS): One of the basic human needs is to have a house to live in. A house is an abode of peace and happiness. Housing has now become an acute problem in the country, especially in the towns, cities and metropolis. With their limited income, it has become almost impossible on the part of the lower middle class, middle class and sometimes, even for upper middle class to solve their housing problem. To meet this basic human need, Islami Bank Bangladesh Limited is committed to contribute to this end to provide a peaceful and happy living. The Bank has introduced 'Housing Investment
Scheme' with the objective to ease and minimize the housing problem and assist service holders and professionals with limited income in materializing their dream of becoming owner of houses.

Real Estate Investment Program (REIP): Professionals, Service-holders, Businessmen,
Real Estate Developer and other categories of people who are not entitled for availing investment facilities under Housing Investment Scheme, shall be eligible under this program.
Investment is to be extended to build new houses and for extension/ completion of the house already constructed, commercial building, shopping complex, flat/apartment etc.

Transport Investment Scheme (TIS): The role of modern communication is most vital for the socio-economic growth and uplift of a developing country like Bangladesh. A sound and efficient communication network is the pre-requisite for sustained development through the expansion of trade, commerce and industry. In this backdrop the demand for road and water transports has increased manifold throughout the country. Moreover, the use of modern transports has increased keeping pace with the rise of the standard of living of the professionals. Considering all these facts, Islami Bank Bangladesh Limited has introduced
'Transport Investment Scheme'. Under this scheme investment on easy terms is being extended to the existing successful businessmen in road and water transports and potential entrepreneurs in this sector for different types of road and water transports. Besides,
Multinational companies, established business houses and well to do officials and professionals can become owner of various kinds of transports through Hire Purchase under this scheme.

Rural Development Scheme (RDS): IBBL has taken up a scheme to reactive the rural economy and develop model villages through integrated approach. The objective of the scheme is to create income generating and productive self employment opportunities through extension of investment for the development of rural areas and thereby contributions in alleviating rural poverty.

Car Investment Scheme (CIS): Islami Bank, being an welfare oriented banking institution, has by now designed and implemented a good number of investment schemes keeping in view the needs of different sectors and various sections of the people for their socioeconomic uplift and to improve their quality of life. The investment schemes including the

"Transport Investment Scheme" and the "Household Durables Investment Scheme" so far introduced have gained popularity and received wide response from the people.
Car is considered as on essential mode of transport in the modern society, particularly by a section of the officials, business houses and business executives and established professionals for movement in discharging their duties and responsibilities punctually and efficiently. Many of these categories of people cannot purchase a car on payment of entire purchase value at a time out of their own sources. To meet this need Islami Bank has introduced the 'Car Investment Scheme' for the mid and high ranking officials of government and semi-government organizations, corporations, executives and directors of big business houses and companies and also for persons of different professional groups on easy payment terms and conditions.

Mirpur Silk Weavers Investment Scheme (MIS): The Scheme has been taken up to assist the silk weavers of Mirpur area particularly in respect of requirement of working capital,
BMRE of existing unit by adding further machineries, to develop new entrepreneurs and to assist the workers for getting further training for producing products of various modern design and for modernization of the Silk Sector.

Micro Industries Investment Scheme (MIIS): Bangladesh as a developing country has been trying for its overall economic growth. One of the major problems confronting its growth is lack of development of enterprises and potential entrepreneurs who can create more job opportunities by establishing new enterprises in the industrial sector. There are a number of educated unemployed youths and also skilled & semi skilled unemployed persons in the country. Besides, every year quite a good number of youths are coming out of the general/technical educational institutions to add to this already crisis ridden employment market. Development programmers and efforts will bring no meaningful result unless and until income- generating employment opportunities can be created for the growing number of unemployed people including the educated unemployed youths. Establishment and expansion of micro industries can play a vital role in creating more employment opportunities as well as in the overall socio-economic development of the country.

Islami Bank Bangladesh Ltd. has been appreciably participating in this direction by financing industrial sector. With a view to creating wider base for industries, the Bank has decided to launch “Micro Industries Investment Scheme” through its Branches. This scheme has been devised to cater to the investment needs of those persons who intend to set-up new micro industrial ventures or to restructure their old units by way of BMRE involving a total cost of
Tk.5.00 lac.
This is intended mainly to create new jobs for the educated, skilled & semi skilled unemployed and also to encourage those who remain outside the purview of investment due to shortage of funds and insufficient collaterals. The scheme has been prepared with easy terms and conditions to encourage the small entrepreneurs.

5.1 Introduction.
Every organization wants to earn a higher rate of return. Investment is the key point of earning higher rate of return. To invest money it is essential to look into the financial strength, efficiency and effectiveness of the company. Whether a project is acceptable or not, profitable of non-profitable, financially solvent or insolvent are easily determined by means of study about investment mechanism. So study about investment policy helps the management to plan, control, co-ordinate and take proper decision.

Table- 01
Year- wise total investment during the year 2007-2011
Amount Millions in Tk. year Investment (Million in



Percentage %



Source: Annual Development Conference 2011

During the year 2007- 2011 IBBL has substantially invested its fund to various modes of investment. The above table shows the growth percentage though seemingly the growth rate subsequently decreases but the amount of investment is randomly increases.

Trend of five years Investment of IBBL

Trend of Investment






Millions in Tk.






Chart -02
Growth of Five years Investment of IBBL

Growth of Investment








Millions in Tk.






5.2 Mode-wise Investment
Mode-wise investment of IBBL during the year 2011 shows the proportion of investment in each mode. In the year2011 prime investment mode was Bai mode.

Table- 02
Mode wise Investment of IBBL during the year 2011
Millions in Tk.
Sl. No.


Amount (Millions in Tk.)

Bai Mode
Ijara Mode
Share Mode


Source: Annual development Conference 2011

The above table represents that during the year 2011 most of the fund invested in Bai mode of investment and fewer amounts is invested in share mode, and during the year the total investment was 324099 million Tk.

Chart -03
Mode-wise percentage of Investment during the year2011

Mode - wise Investment 2011
Bai Mode

Ijara Mode

Share Mode



0% 5% 2%


5.3 Sector wise RDS Investment.
Table- 03
Sector wise RDS Investment during 2011
Million in Tk.

Crops & other cultivation
Live Stock
Poultry/ Ducker
Rural Transportation
Rural Housing


Percentage %


Off- frame activities



Source: Annual development Conference 2011

Though Islami Bank Bangladesh Ltd is not a micro credit bank but through its RDS scheme it invests in rural development projects, during the year 2011 it has invested about 7072 million Tk in this sector.
Chart -04
Sector-wise percentage of RDS Investment during the year 2011
Sector wise RDS Investment 2011

Figure 1 Chart of sector wise investment 2011

Crops & other cultivation 22%
Off- frame activities 33%

Live Stock

Rural Housing Rural
13% Transportation Fisheries

AgroMachineries Nursery

Poultry/ Ducker

In the above table and chart we can see that during the year2011 in case of Rural
Development Scheme (RDS) IBBL invested most investable funds in agricultural, housing, live stock and transportation sectors. Where its total RDS investment was 7072 million in
Table -04
Investment under RDS during the year 2007-20011




Chart -05



Investment under RDS during the year 2007-2011

Investment under RDS
Millions in Tk.









5.4 SME Investment during the year 2007-2011
Table -05
SME Investment during the year 2007-2011






SME Exposure






Growth Amt.












Source: Annual development conference 2011

SME is a booming sector in today’s economical perspective, IBBL plays substantial role in investing to this sector, form the above table it is clear that IBBL give more and more priority in SME during the last five years so, where the growth was 14% in 2007 in 2011 it turn to

Chart -06
Trend of SME Investment 2007-2011
Trend of SME Investment
Millions in Tk.










Table -06
Zone- wise Investment during the year 2011








Source: Annual Development Conference report 2011







IBBL has the largest banking network among the private commercial banks in Bangladesh.
From the above table we get a image of IBBL’s investment through out of the country, another important thing is that the bank not only invest in urban areas but also it invested a lot in the rural area.
Chart -07
Area- wise Investment during the year 2011


Area wise Investment Position as on 31.12. 2011













68.23 51.87 49.98 36.42 27.97 20.29 19.09 11.67





Urban 31.77 48.13 50.02 63.58 72.03 79.71 80.91 88.33 94.74 95.63 96.01


Table -07
Trend of Investment Income during the year 2007-2011












Source: Annual Development Conference 2011

Profit comes from income so, increased income denotes growth of its profit. Hence IBBL has a consistency of income and at a substantial growing rate form the above table we can see that income of the year 2011 is more than two times than that of income of the year 2007.
Chart -08
Trend of Investment Income during the year 2007-2011

Trend of Investment Income
Millions in Tk.











Table -08
Overdue Investment during year 2007-2011
Sl. No.


















Source: Annual Development Conference 2011

From the table we can see that the percentage of overdue of IBBL during the year 2007-2011, and we can also see that the rate of overdue are significantly decreasing over the years it is a positive sign of the recovery of investment management of the bank.

Chart -09
Trend of Investment overdue during the year 2007-2011

Investment Overdue









6.1 Introduction.
Once upon a time, most of the people didn’t understand interest-free banking system. They never thought that. It is possible to provide banking facilities without interest but in cause of time, by the grace of Almighty Allah, now it is clear as broad day light in Islam there as a banking procedure though profit / loss sharing basis. In course of time problems have reduced but not delaminated. So some of the most important problems that are facing by
Islami banking system, particularly IBBL and also its Investment Division are as follows.

6.2 Problems Relating to Bangladesh.

Political unrest.


Increasing cost burden.


Decreasing revenue earnings


Lack of opportunities for profitable investment.


Lack of accountability.


Lack of proper control of deployment of fund.


Misuse of fund.


Excess manpower leading.


Deterioration in customer’s service.


Heavy competitions with private commercial banks.


Priority on social profitability of private commercial banks.


Weak management information system.


Unfavorable business environment.


Absence of usage in orders information technology in accounting and


Chronic industrial sickness.


Lack of good entrepreneurs.


Availability of smuggle products creating unfair competitions.


Lack of honest Importer/ Exporter.


Lack of stable market.


Lack of honest officer.



Lack of proper supervision.


Lack of stable economic condition.


Lack of skilled manpower.


Lengthiness of Import procedure.


Lack of proper judicial supervision.


Inadequate legal framework.

6.3 Problems Relating to Islami Bank Bangladesh Ltd.
Failure is the pillar of success. As a private commercial bank Islami Bank Bangladesh Ltd.
Faces Bangladesh a lot of problems, which are described below:

Letters /Telex/Fax/E-mail/Swift message etc received from the customers living and working in abroad are not been attended timely and properly.


Swift service and utility: Local office is practicing to avail maximum “swift” service but some other A/D branches in Dhaka city are not availing this same even the foreign exchange branch not availing maximum swift service.


Some branches make delay in sending TBDAS to local office regarding Tk remittance from abroad.


Stop payment request from different banks or exchange houses are not respondent to timely and properly.


Long matured import bills are not paid timely. Vouchers are not provided even after debit to the NOSTRO accounts.


Due to nonpayment of import bills or non-honoring of IC commitment by some
AD branch. Bangladesh Bank has declined our proposals for AD license of some new branches and thus creating barrier for expansion of foreign exchange.


Incorporate proposal of different types are received from some branches by head office. 8.

Branches proposals are not routed through zonal office and for which unnecessary correspondents are involved amongst zonal offices and branches.


Limit proposals and renewal thereof are not sent properly and timely with required information, papers, documents etc.


Particulars of collaterals are not properly mentioned as regard s the name and owner of the land and their relationship with the investment clients.


Proposal requiring Bangladesh Bank clearance are not forwarded to head office with relevant papers, documents such as audited balance sheet, IRRA form duly filled in, CTD inquiry form.


Causes of stock lots with regard to ready-made garments industries are not mentioned by some of the branches.


Stock position against the stock lots and other funded liabilities are not mentioned by some branches.


Letters queries, follow up of monthly returns are not attended or submitted properly and timely by some branches.


FC funds are not purchased timely for reimbursement of LCs by some AD branches and some are holding unnecessary LC cover funds in their WES fund held account.


Compliance of Bangladesh Bank inspection report regarding foreign exchange portfolio are not send to head office timely and properly even after repeated reminders. 17.

Unauthorized / Double debts etc are not forthwith taken up by some branches with concerned banks.


Some branches are not reversing L/C liability entries timely.

6.4 Problems in case of Investment Mechanism.
At the time of our Internship program we have found some Problems which are faced by
IBBL in case of Investment Mechanism are discussed below:
(A) IBBL cannot invest in Shariah prohibited sector, so its investment scope is narrow in
(B) Entrepreneurs have no clear concept about Shariah and investment mode. As a result they not want to take investment easily.
(C) IBBL lead their investment operation within limited number of investment mode.

(D) Lack of Islamic Banking Rule in our country, the authority of IBBL face various problem in their investment operation as a result it cannot run smoothly.
(E) Most of the people of Bangladesh have no positive idea about Islamic Banking Operation, some of them hold negative about the philosophy investment Mechanism of IBBL, so they are not interested to generate the Banking activities with this bank.
(F) IBBL is Shariah based & welfare oriented, so they should engage in poverty alleviation & rural development seriously, but they could not reach their operation in eighty five thousand village of Bangladesh.
(G) Investment is heart of the Bank and it is the main source of income of IBBL, but lack of sufficient investment scope a large amount of money are being idle, as a result, profit is not increasing. (H) Lack of sufficient & skilled manpower some time IBBL cannot invest their asset in proper portfolio. (I) Advertisement is the most important factors to introduce any organization, goods products or information to the people, but IBBL is not eager to advertisement that can show their activities in the society
(J) There no proper arrangement for women dealing in which many women clients are in a fix. 6.5 Recommendations for Islami Bank Bangladesh Ltd. (IBBL)
1. Behavior of the bank staff should be better than present to attract the customer.
2. Using advance technology like Telex, Fax, E-mail ATM, SMS banking, and IBanking.
3. Conducting purpose oriented training program.
4. IBBL is allowed to determine the rate of profit on deposits and advances. If the bank rationally utilize this opportunity bank may be able to increase more productivity. 5. Modern method should e introduced for increasing management information and accounting information system.
6. Creating business environment is facilitating productive cases of rondo.
7. Productivity of the bank may raise better fund management and portfolio management, improving recycling of fund, and developing other income from the business activities of the bank.
8. More attention should be given on the better utilization of working fund in profitable ventures.
9. Operational cost should be minimized.
10. Excess manpower should be reduced.
11. Operational efficiency should be protected considering the pre-operational cost of the bank.
12. IBBL should try to improve the deposit investment ratio for higher productivity.
13. Performance budgeting should be introduced to increase accountability.
14. Stuck up advance should be recovered as earlier possible.
15. Better industrial relationship, participatory- decision-making etc. is needed to improve the high productivity for the bank.
16. Encouraging developing positive and co-operative relationship between management and trade union.
17. The bank should be allowed to work independently as the commercial banking organization without any political or outside intervention.

6.6 Conclusion.
In fine we can conclude that, the economy and Banking is not possible to establish without
Tauhid, Reshalat and trust of Akhirat. The Islamic economics and banking are suitable to operate as a Muslims country (Majority of Muslims). But our Government is not aware to establish such system. Islami Bank Bangladesh Ltd. (IBBL) has emerged facing the many obstacles yet. This bank is trying to operate their activities according to Islami Shariah. But it is too much difficult to operate Islamic economics and banking activities abiding the rules and regulations of interest based central bank and World Bank etc. In case of investment

mechanism, selection of skill and honest clients, callousness of some employees and governmental rules and regulations create serious problems. If the Government and the people become conscious to solve these problems and the banker become cordial and cooperative, the problems may be reduced to a greater extent.

Chapra, Dr. M Omer, “Islam and the economic development,” Islamabad: International
Institute of Islamic thought and Islamic Research Institute, Translated into Bengali by Dr
Mahmood Ahmed (2000), published by the Bangladesh Institute of Islamic Thought.
Mohon, Ikbal Kabir (September 1999), “Adhunik Banking,” Dhaka: Shourov Prokashoni.
Maudidi, Sayyid Abul A’la (1997), “SUD – O- ADHUNIK BANKING,” Dhaka: Adhunik
Rahim, Maulana Muhammad Abdur (April 1997), “Islamer Aurthaniti,” Dhaka: Khairun
Ahmed Khurshid , Rahman Khalid & Valie Zahed A “Elimination of Ribafrom the economy,” Published by Institute of Policy Studies.
Maudidi, Sayyid Abul A’la (Rah) :Islami Orthoniti,” Compiled by Prof. Dr. Khurshid
Ahmed, translated into Bengali by Abbas Ali Khan, Abdus Shaheed Naseem & Abdul
Mannan Talib (October, 1994), Dhaka, Published by Sayyed Abul A’la Maudidi Research
AL-karjavi, Allama Yusuf, “Islamer ZakatBidhan(Fiqhuz-zakat): The low of Zakat in
Islam,” translated by Maulana Muhammad Abdur Rahim into Bengal,( February 2000),
Dhaka, Published by Khairun Prokashani.
Hannan, Shah Abdul (April 2002), “Islami Orthoniti: Darshan o Karmakaushal (Islamic
Economics: Philosophy and Strategy,” Dhaka, Published by Alameen Prokashan.
Hussain, Prof. Muhammad Shorif (April 1992), “Sud Shamaj Aurthonoty,” Dhaka,
Published by Islamic Economics Research Bureau.
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Babosth (Islami Banking: A superior Banking System),” Dhaka, Published by Public relations Department, Islami Bank Bangladesh Limited.

Rahman, A. A. M. Habibur (April 2001), “Islami Banking,” Dhaka.
Miah, M. D. Haider Ali (August 1997), “A Hand Book of Islamic Banking & Foreign
Exchange Operation,” Dhaka.
Mannan, Mohammad Abdul (July-December 1993), “Islami Bank Babosthar Auntor-nihit
Shakti,” A Journal, “Islami Banking” Published by Public Relation Department, Islami
Bank Bangladesh Limited.
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Karjocrom,” A Journal, “Islami Banking,”Published by Public Relation Department,
Islami Bank Bangladesh Limited.
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Paddhatir Sambhabana,” A Journal, “Islami Banking,”Published by Public Relation
Department, Islami Bank Bangladesh Limited.
Hasan, Dr. M. Kabir (January-June 1999),

“Islami Banking Babosthay Niontron,

Karjocrom O Unnoyonmulok Aurthayon,” A Journal, “Islami Banking,”Published by
Public Relation Department, Islami Bank Bangladesh Limited.
Sarkar, Abdul Aual (January-June 1993), “Bangladeshe Banking Babostha Islamikoron:
Samossa O Sambhabana,” A Journal, “Islami Banking,”Published by Public Relation
Department, Islami Bank Bangladesh Limited.
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Monthly Islami Research Pasper, “Prethibi,” Published by Bangladesh Islamic Center.
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Research Pasper, “Prethibi,” Published by Bangladesh Islamic Center.
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Islamikaran: Samassa o Sombhabona, Dhaka, A Seminar Saronika, “Bangladesher
Banking Babostha Islamikaran: samassa O Sambhabona,”

Published by Islami Bank

Officer Kallan Shomiti.
Rahman, Dr. Mohammad Ataur(January 1994), “Bangladeshe Islami


Samprosaron: Samassa o Sombhabona,” Dhaka, A Seminar Saronika, “Bangladesher

Banking Babostha Islamikaran: samassa O Sambhabona,”
Officer Kallan Shomiti

Published by Islami Bank

Islami Bank Bangladesh Ltd.
Jhenidah Branch…...

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