DBH holds first Shari’ah Supervisory Committee meeting

DBH Finance PLC held its first Shari’ah Supervisory Committee meeting at its head office in Gulshan, Dhaka on Monday.

The meeting was presided over by the committee’s Chairman Dr Muhammad Saifullah, said a press release.

Other members of the committee including former executive director of Bangladesh Bank Md Abdul Awwal Sarker, Professor of Department of Arabic at Dhaka University Zubair Mohammad Ehsanul Hoque, DBH Managing Director and CEO Nasimul Baten, DMD and Head of Islamic Financing Division (Current Charge) Tanvir Ahmad, and Member Secretary of the committee Md Abu Yousuf were present at the meeting.

Regarding the DBH Islamic Financing Wing (IFW), Nasimul Baten said, “We are in the process of obtaining Bangladesh Bank’s final approval to launch our Islamic Financing Wing under the brand name of DBH Islamic with a view to providing Islamic financing services and receiving Mudaraba deposits in accordance with Shari’ah laws to cater to the growing demand of our customers.”

At the meeting, the committee approved DBH IFW’s Product Program Guidelines (PPGs) for providing Islamic financing and mobilising Mudaraba deposits.