Shahjalal Islami Bank Limited

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Shahjalal Islami Bank Limited a private proprietorship commercial bank. It commenced banking operation in accordance with principle of Islamic shariah on 10 May 2001 under the Bank Companies Act, 1991. The bank invests in different sectors and the earning profit distributes the depositors through Islamic shariah.

Shahjalal Islami Bank takes few projects including Money increasing two/three times project, Monthly earning projects, Monthly deposit project, Hajj deposit project, Millionaire project, Housing deposit project, Cash Waqf deposit project, Lakhapati deposit project, Mahr deposit project, Education deposit project, Marriage deposit project, Buy house-furniture through installment project, Small trader investment programme, Small entrepreneur investment programme, Medium entrepreneur investment programme, Housing investment project, Rural investment programme, Buying car investment project, Women entrepreneur investment project, CNG conversion project, Foreign employment investment project, Marriage investment project, Study investment project and executive investment project.

Basic Facts and Economic Indicators (In Million Taka)

Indicators 2018 2019 2020
Authorized Capital 10000 10000 15000
Paid up Capital 8486 9334 9801
Reserved Fund 6303 7189 8148
Deposits 176862 203384 218443
a) Call Deposits 27098 35334 41051
b) Term Deposits 149764 168050 177392
Loans and Advances 186090 197286 196513
Investment 12321 15639 27610
Total Asset 243660 265688 293518
Total Income 19948 23618 20224
Total Expenditure 15372 17737 16129
Foreign Currency Trading 271913 311961 289805
a) Export 125402 147052 133580
b) Import 140382 157060 148469
c) Remittance 6129 7849 7755
Total manpower 2395 2652 2657
a) Officers 1927 2161 2168
b) Staff 468 491 489
Correspondent Banks 428 416 412
Total Branches (in numbers) 122 132 132
a) Domestic 122 132 132
b) Overseas 0 0 0
Agriculture Credit
Loan Disbursed 2420 1905 3803
Realised 3280 4795 1483
Industrial Credit
Loan Disbursed 53714 59198 64036
Realsied 39460 55170 73010
Loan Outstanding by Sector
Agriculture and Fisheries and Forestry 4741 1808 4428
Industry 26620 32568 36121
Trade and Commerce 37235 35405 33842
Poverty Reduction 0 0 0
CSR 151 220 324


Source Government of Bangladesh, Ministry of Finance, Banking and Financial Institution Division, Barshik Protibedon [Annual Report on Banks and Financial Institutions], 2019-20 and 2020-21.

Shahjalal Islami Bank provides financial aid through rural branch establishing agro-based industry and to produce agrarian crops under the rural investment programme. The bank also plays an important role to improve lifestyle creating new field of income and generating employment opportunities through investment in industrial sectors.

As a part of social liabilities, Shahjalal Islami Bank provides free treatment of insolvent and needy people, distributes eatable materials in poverty-stricken region, endows financial aid to the poor but meritorious students and contributes in various public welfare works. In order to perform such activities the bank found 'Shahjalal Islami Bank Foundation'. A deal has been signed up with Western Union for reaching migrated labor’s money to their relatives with swiftly and in short time.

Presently, the bank is functioning with an offshore banking unit, 15 SME branches, 45 ATM booths and 132 branches. By the end of March 2020, the Authorized capital and Paid up capital rose to 15000 and 9801 million taka respectively.

The bank is run by a directory board. The board consists of one chairman, 1 vice chairman, 18 directors. The shariah board is comprised of one chairman, 9 members and one member-secretary. All decisions related shariah is vested to the board.

In 2019, bank deposits accounted for 1.6 per cent of total banking sector deposits and loans and advances accounted for 1.8 per cent of total banking sector loans and advances. The average interest rate differential between June 2019 based deposits and loans and advances was 4.0 percent. [Md Ashik Iqbal and Muhammad Abdul Mazid]