Standard Islami Bank PLC
DDSE:STANDBANKL4.10
BDT
-0.10
(-2.38%)
Standard Islami Bank PLC
DSE:STANDBANKL
(Dhaka Stock Exchange)
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4.10
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- Business
- Standard Islami Bank PLC (DSE: STANDBANKL), formerly known as Standard Bank PLC, is a Bangladesh-based commercial banking institution that provides full-fledged Shariah-compliant Islamic financial products and services to retail, corporate, and small and medium-sized enterprise (SME) clients. Incorporated in 1999 and headquartered in Dhaka, Bangladesh, the bank transitioned from conventional banking to complete Islamic Shariah-based banking operations across its nationwide network. The company operates through several core business segments, including Corporate Banking, Retail and Consumer Banking, SME and Agriculture Banking, International Trade and Foreign Exchange, Treasury and Capital Market Operations, and Agent Banking. Its comprehensive product and service portfolio comprises deposit solutions, such as Al-Wadeeah current accounts, Mudaraba savings accounts, Mudaraba term deposit receipts (MTDR), Mudaraba monthly savings schemes, Mudaraba Hajj and Umrah deposit schemes, Mudaraba student and senior citizen savings accounts, and specialized millionaire deposit products; Islamic financing and credit facilities, including Bai-Murabaha working capital financing, Bai-Muajjal deferred payment facilities, Bai-Salam agricultural and commodity financing, Bai-Istisna project and manufacturing finance, and Hire Purchase Shirkatul Melk (HPSM) for commercial real estate, industrial machinery, and automobile financing; trade finance services, encompassing import and export letters of credit, inland bills purchase, bank guarantees, and foreign exchange transactions; and card and electronic banking solutions, consisting of Shariah-compliant Visa and Mastercard debit, credit, and prepaid cards, the SBL Digibanking mobile application, internet banking, electronic fund transfers, remittance disbursement, and an extensive network of automated teller machines (ATMs), cash recycler machines (CRMs), and agent banking outlets across urban and rural regions of Bangladesh. Through its subsidiaries, SBL Capital Management Limited and SBL Securities Limited, the bank also provides merchant banking, portfolio management, underwriting, and stock brokerage services. In recent developments, Standard Islami Bank PLC has undergone significant corporate and strategic transformations, including the full operational alignment of its branch network to Shariah governance standards, the restructuring of its Board of Directors under regulatory guidance from Bangladesh Bank to improve risk management and financial stability, the ongoing expansion of its agent banking distribution network to promote nationwide financial inclusion, and the modernization of its digital banking ecosystem through enhanced electronic Know Your Customer (e-KYC) onboarding and upgraded digital payment capabilities.