Bangladesh Bank has allowed Strategic Finance and Investments Limited (SFIL) to open its shariah-based Islamic wing to offer shariah-compliant products and services, said a press release.
“The sustainable development of Islamic finance offers benefits for economic growth, reducing poverty and fostering shared prosperity. Islamic finance can significantly contribute to economic development, given its direct link to physical assets and the real economy,” SFIL Managing Director and CEO Irteza Ahmed Khan said.
SFIL will now offer innovative deposit and loan products to cater for the need of growing segment of clients of Islamic beliefs based on shariah principles in line with Bangladesh Bank’s guidelines,” he also said.
SFIL has secured a solid loan portfolio with ZERO NPL and a good size of deposit book with the trust and confidence of customers through their service excellence and commitment.
The company holds A+ and ST-2 Credit ratings and also successfully started its full-fledged share dealer and brokerage service operation under its 100 per cent subsidiary company SFIL Securities Limited- a TREC holder of Dhaka & Chittagong Stock Exchange.
