DBH Finance PLC, formerly known as Delta Brac Housing Finance Corporation Ltd which is country’s largest and specialist housing finance institution, has received the final approval from the Bangladesh Bank (BB) for opening of its Islamic Financing Wing (IFW).
DBH got the approval on April 11th to start its Shariah-based Islamic Financing Wing (IFW) to offer Shariah-compliant products and services from all of its 14 branches located at all major cities of the country, reads a press release.
Nasimul Baten, managing director and CEO of DBH said, “This is a milestone achievement, there is a huge demand for Shariah based products.”
“We have completed our preparations under the guidance of a very competent Shahirah Supervisory Committee and now we are ready to offer Shariah compliant deposit and housing financing products to cater the growing need of our clients. This will open a new avenue for us and we are committed to deliver the services to our customers in most compliant manner”, he said.
DBH Finance PLC is the pioneer, largest, and specialist Housing Finance Institution in the private sector of the country. After commencing operation in 1996 the company has registered commendable growth in creating home ownership in Dhaka and other major cities of the country.
At the same time, the company has been playing an active role in promoting the real estate sector to the large cross-sections of prospective clients who had yet an unfulfilled dream of owning a home.
Among all Banks and Financial Institutions of Bangladesh, only DBH has been rated the highest ‘AAA’ credit rating for 17th consecutive years. The level of credit rating provides a very important indication of the financial safety, security and strength of the concerned Bank or Financial Institution and is particularly relevant to its depositors and other investors such as shareholders and lenders.