Social Islami Bank was founded in 1995 as
Social Investment Bank Limited and changed its name to the present one on August 2009.
SIBL has been running its activities through its 72
branches
all over the country. It provides Islami banking facilities to its
customers under the supervision of a strong jury board. It provides all
formal commercial banking services to people.
Formal Banking Services
Formal banking services rendered by
SIBL are Deposit Accounts, Deposit Schemes, Investment Banking, Foreign Exchange Trade and other routine
jobs.
Mudaraba Savings Deposit, Al Wadiah Current Deposit, Mudaraba Term
Deposit and Mudaraba Notice Deposit are the deposit accounts provided by
SIBL.
Mudaraba Term deposit is to be
opened with a deposit of Tk.5000 minimum from
individual, joint farm,
Public
limited company or Local Government organizations. After maturity you
are allowed to withdraw the money along with profit as decided by the
bank.
Mudarabe Notice Deposit requires a notice period before withdrawal of money.
Ten Deposit schemes are presently in function at
SIBL. These are:
- Mudaraba Monthly profit
- Hajj Deposit Scheme
- Mudaraba Millionaire Scheme
- Mudaraba special Deposit (Pension) scheme
- Mudaraba Term savings Scheme based on Monthly Deposit
- Mudaraba Education Savings Scheme
- Mudaraba Bashastan Savings Scheme
- Mudaraba double Benefit Deposit Scheme
- Mudaraba Lakhopoti Deposit Scheme
- Mudaraba Foreign Currency Term Deposit Scheme
Monthly Profit scheme is targeted to retired persons who can deposit a
substantial amount from his service benefits for a fixed period. He
would get a monthly profit from it.
Hajj Deposit Scheme is to help people for performing Hajj. A mutually agreed monthly
installment is to be deposited and profit earned as per Shariah is
added. After maturity you will get the money with total profit to
enhance your Hajj program.
Millionaire Scheme is a monthly deposit Scheme to achieve a total of taka 10 lacs along with profit after maturity. The duration of this scheme is 15, 20, and 25 years. Accordingly the installment is decided. The
profit is calculated following Shariah.
Special Savings (Pension) Scheme is, as the name implies, for people in
job now and desire to have a regular income after retirement. Deposits are made as monthly installments and after maturity you may have the total amount at a time or as a monthly pension.
Term saving is also a monthly deposit scheme.
Educational expenditure is getting higher day by day. Still you must
not ignore your children’s education. So you would like to build up a
fund for future. Mudaraba Education Scheme is the
solution.
Mudaraba Bashastan Savings Scheme is meant for solving your housing
problem. You have to deposit an installment of Tk.500 or any multiple of
it for a decided duration. After maturity you may expect a good amount
to be spent for your home.
Voluntary Banking
Voluntary Banking Sector is another field of
SIBL’s activity. This field includes Cash Waqf Scheme and Mosque Waqf Property Development Scheme.
Cash Waqf Scheme is designed for investment in the religious, social
and educational services. Well off and rich people are supposed to make
the investments and in the mean time response is good.
Mosque Waqf Property Development Scheme provides consultation to make mosques and Waqf properties self sufficient and sustainable.
Non Formal Banking
In this area of banking
SIBL offers schemes like Micro Investment Scheme, Micro Enterprise Investment Scheme, Joint Scheme, Development and Rehabilitation Scheme, and Joint Programs with ILO and UNICEF.
Micro Investment is a group based lending program aiming at
improvement of the low income people of the society. Maximum amount to
invest is Tk. 25000 for each case.
Micro Enterprise Investment Scheme contains three types of schemes.
These are Family Empowerment Micro-Enterprise Program, SMES and Small,
Medium & Micro Enterprise Development in collaboration with JOBS, USA. All these schemes are prepared to create easy access of small entrepreneurs to business capital.
A rehabilitation program for child labor in garment industries are under taken by
SIBL jointly with ILO. This program aims at complete elimination of child labor.
Social Islami Bank Limited is always with modern thinking and up to date technology. It has naturally introduced
online banking, ATM service and any branch banking like products.
SIBL is prospering along with its clients and partners and contributing to nation as well.
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