Business

SFIL gets the approval to open Shariah Based Islamic Wing


Published : 28 Jun 2022 09:49 PM | Updated : 29 Jun 2022 04:19 PM

Bangladesh Bank has allowed Strategic Finance & Investments Limited (SFIL) – the leading only joint venture NBFI consists of institutional investors from Canada, USA, and Bangladesh to open its shariah based Islamic wing to offer shariah compliant products and services.

In a press release on Tuesday, SFIL has informed this to media.

“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. 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.” – said Irteza Ahmed Khan, Managing Director & CEO.

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 percent subsidiary company SFIL Securities Limited- a TREC holders of Dhaka & Chittagong Stock Exchange.

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