Islamin Financial System Essay

1280 words - 6 pages

Introduction:

There is overwhelming theoretical and empirical evidence that financial sector development plays an important role in enhancing growth. There are many channels through which financial institutions affect growth. Banks in particular perform some very important functions for society and, in the process, significantly influence major economic variables. Banks provide necessary funds for executing various programs underway in the process of economic development. They collect savings of large masses of people scattered throughout the country, which in the absence of bank would have remained idle and unproductive. These scattered amounts are collected, pooled together and made ...view middle of the document...

Methodology of the Study:

For preparing this report essential data and other related information are collected by using both primary and secondary sources.

Primary sources:

← Personal observation
← Discussion with the employees
← Experts opinions and comments
← Practical deskwork

Secondary sources:

← Annual report of
← Website of the Bank
← Published documents
← Office circular
← Relevant books, newspapers, journals etc. regarding general banking operation
← Investment manual of

An Overview of SJIBL

Background of SJIBL:

In the backdrop of economic liberalization financial sector reforms, a group of highly successful entrepreneurs conceived an idea of floating an Islami Bank with different outlook. For them it was competence, excellence and consistent delivery of reliable service with value products. Accordingly, Shahjalal Islami Bank Ltd. Was created and commencement of business started on 10th May 2001 under the bank Companies Act, 1991. As a fully Islami bank, professional and dedicated team is managing with long experience in banking. Board of Directors enjoys high credential in the business arena of the country, Management Team is strong and supportive equipped with excellent professional knowledge under leadership of a veteran Banker Mr. Md. Abdur Rahman Sarker.

has already made significant progress within a very short period of its existence. The purpose of the bank is to become “The Bank of Choice” in the communities. Offers all kinds of commercial, corporate and personal banking service covering all segments of society within the framework of Islamic Shariah and rules and regulations as lay down by Bangladesh Bank.

|Vision of SJIBL: |
| |
|To be the unique modern Islami Bank in Bangladesh and to make significant contribution to the national economy and enhance customers' trust |
|& wealth, quality investment, employees' value and rapid growth in shareholders' equity. |
| |
|Mission of SJIBL: |
| |
| |
|[pic] ...

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