Mercantile Bank launches Islamic banking

The Mercantile Bank Limited has launched the Shariah complied Islamic banking service named 'Taqwa'.

Morshed Alam, chairman of the bank inaugurated the service on Monday, said a media statement.

Initially Mercantile Bank will offer this special service through its Islamic banking window in its 10 branches across the country besides its regular conventional banking.

The chairman said that by fulfilling the special client demand, the Islamic banking facility parallel to the conventional banking will ensure all types of client services.

The Islamic Banking service will be available in the bank's main branch, Dhanmondi branch and Uttara branch in Dhaka, Agrabad branch in Chattogram, Barishal branch, Feni branch; Chowmuhani branch and Banglabazar branch in Noakhali,  Faridganj branch in Chandpur and  Damudya branch in Shariatpur.

Among others, Alhaj Akram Hossain (Humayun), vice chairman, Md Anwarul Haque, chairman, executive committee, Dr Md Rahmat Ullah, chairman, audit committee, AKM Shaheed Reza, chairman, Mercantile Bank Foundation, ASM Feroz Alam, M Amanullah, Alhaj Mosharref Hossain and MA Khan Belal, directors joined the virtual inauguration ceremony of the service.

Md Quamrul Islam Chowdhury, managing director and chief executive officer delivered his welcome speech.

Md Zakir Hossain, DMD and DCBO of the bank anchored the ceremony while Mati Ul Hasan, AMD and CRO, its other DMDs and senior executives along with the Head of Islamic Banking Division Syed Murtaza Hasan also joined the virtual event.