Community Bank launches Shariah-based 'Community Islamic' service, inaugurated by IGP at Chawkbazar branch

Community Bank Bangladesh PLC has brought Shariah-based financial services alongside conventional banking with the launch of 'Community Islamic'. The bank said the initiative aims to meet the banking needs of a wider customer group while giving the highest importance to compliance with Shariah principles.

Inspector General of Police (IGP) and Community Bank Bangladesh PLC chairman Md Ali Hossain Fakir formally inaugurated the service as chief guest by cutting a ribbon on Monday (October 26) at the bank's Chawkbazar branch, located in Shahjahan Imam Tower in the capital.

The programme began with a recitation from the Holy Quran. In the discussion that followed, speakers highlighted the importance of establishing morality in financial transactions, earning customers' trust and Shariah-based banking for the overall welfare of society.

Community Bank managing director Mohammad Imtiaz Uddin, under whose leadership the Community Islamic initiative was implemented, spoke first. He set out the goal of reaching a wider customer group with Islamic banking services alongside conventional banking, and stressed Shariah compliance, transparency and responsible customer service to build Community Islamic into a service customers can trust.

Mohammad Anisur Rahman, director of Bangladesh Bank's Islamic Banking Regulations and Policy Department, then spoke. He highlighted the importance of sound banking practice and following Shariah principles to strengthen customer trust in Islamic banking, and discussed how transparent and responsible financial transactions can contribute to the greater welfare of customers and society.

Mufti Abdullah Masum, chairman of Community Islamic's Shariah Supervisory Committee, explained the moral basis of Islamic banking. Stressing honesty, trusteeship and just conduct in financial transactions, he set out the need to properly follow Shariah rules in customer service and social welfare.

Additional IGP (HRM) of Bangladesh Police and bank director Khondkar Rafiqul Islam discussed the role of ethical banking in strengthening public trust. He stressed fair transactions and responsible service in building long-term relationships with customers and contributing to society's welfare.

Additional IGP (Finance) of Bangladesh Police and bank director Md Akram Hossain highlighted the importance of expanding banking services in line with customers' financial needs and values. His speech also covered how responsible, Shariah-based financial services can increase people's participation in economic activity and contribute to public welfare.

In the chief guest's speech, the bank's chairman stressed earning customers' trust through honesty, trusteeship and following Shariah guidance. He expressed the expectation that Community Islamic will operate holding those values and contribute to people's welfare.

Also present were Additional IGP (Admin) of Bangladesh Police and bank director A. K. M. Awlad Hossain, and Additional DIG (Service) of the Bangladesh Police Welfare Trust and bank director Ahammad Mueed. Additional DIG of Bangladesh Police and CID chief Barrister Mohammad Mosharraf Hossain was also present. Shariah Supervisory Committee members Mufti Md Elias Hossain Emon and Mufti Lukman Hasan, the bank's Chief Operating Officer Samsul Haque Sufiani and Head of Community Islamic Anwarul Kabir, along with senior officials of Bangladesh Police and the bank, were also present.