Ethical Practices of Islami Bank Bangladesh Limited

Acknowledgement At the very beginning I would like to express us gratitude to Almighty Allah for enabling me to prepare this Assignment. I also express gratitude to our honorable course teacher Nafisa Rashid. Md. Abdul Bari, for his kind permission to allow us for orientation in Islamic bank limited. We are grateful to Mr. Sirajul Hoque Miah, Manager of Mirpur branch. An Assignment is very much effective for a student to get the practical knowledge. This program makes an opportunity for translation of the practical conception in real life situation. Student can get real life test and can compare the knowledge with real situation. It’s a great opportunity for a student to understand the current market.

Topic Conceptual Framework Emergence of Islamic Bank Concept Conclusion

Conceptual Framework: Islamic financial practices are built around the belief that money is not an earning asset in and of itself. The system can only be understood in the context of Islamic Attitudes towards ethics, wealth distribution, social and economic justice, and the role of the state. Islam tolerates personal freedom and the right to accumulate wealth, it abhors unbridled materialism, consumerism, greed and exploitation of human labour by owners of capital. The warnings against avarice have been reiterated in the holy Quran.

Conceptual Framework: Islam discourages hoarding and enjoins spending “in the way of Allah”. Islam encourage sharing of wealth with the less fortunate members of the society and enjoins everyone to promote Islamic values in all spheres of human endeavors including banking. Money is valuable only as a function or by-product of human effort, and human effort in its turn is the means by which a Muslim should serve his lord.

Emergence of Islamic Bank Concept: The concept of interest free banking is relatively new the idea of Interest-free economy is as old the religion is Islam. The concept of interest free banking started to attract attention since the middle of the last century and gathered momentum from the middle of seventies coinciding with the oil boom.

Conclusion In spite of the present limitations, Islamic-banking system has tremendous potentiality and prospect in Bangladesh. Firstly, the successful launching and operation of Islamic banks in Bangladesh has established the fact that banking without interest is feasible. Secondly, Islamic banks have brought together many depositors and entrepreneurs under their fold and coverage. These depositors and entrepreneurs so long avoided interest - based banking on grounds of religious injunctions.

Thank you all