The Bangladesh Bank (BB) has allowed Strategic Finance & Investments Limited (SFIL) to open its shariah-based Islamic wing to offer shariah compliant products and services, says 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," said SFIL Managing Director & CEO Irteza Ahmed Khan.
"SFIL will now offer innovative deposit and loan products to cater the need of growing segment of clients of Islamic believe based on shariah principles in line with Bangladesh Bank's guidelines," he added.
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 rating.
The company has also successfully started its full-fledged share dealer and brokerage service operation under its 100% subsidiary company SFIL Securities Limited- a TREC holders of Dhaka & Chittagong Stock Exchange, the press release adds.