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IDLC Finance PLC, the nation’s largest non-bank financial institution (NBFI), has announced the launch of IDLC Islamic - its Shari’ah-compliant financing window.
The launch ceremony was held on January 21, 2025, at the Pan Pacific Sonargaon Hotel in Dhaka, attended by Shari’ah scholars, esteemed guests, industry leaders, and key stakeholders, according to a media release.
The event was graced by Mr. Md. Zakir Hossain Chowdhury, Deputy Governor of Bangladesh Bank, as the Chief Guest.
Besides, speeches and insights from Mr. Aziz Al Mahmood, the Chairman of IDLC Finance, Mr. M Jamal Uddin, CEO & Managing Director of IDLC Finance, Professor Dr. Mohammad Gias Uddin Talukder, Chairman, Central Shariah Board for Islamic Banks of Bangladesh (CSBIB), Dr. Mohammad Manzur-e-Elahi, Chairman of IDLC's Shari’ah Supervisory Committee (SSC), Shari’ah scholars, and other stakeholders enriched the event.
The evening featured a presentation on “Succeeding Sustainability through Shari’ah-compliant Financing,” followed by an engaging panel discussion on the same theme, highlighting IDLC Islamic's alignment with Shari’ah finance and sustainability.
Speaking at the event, M Jamal Uddin, CEO and Managing Director of IDLC Finance, remarked, "IDLC Islamic is a significant step in our journey to create Shari’ah-based ethical, and sustainable financial solutions. It reflects our commitment to addressing the diverse needs of our customers while adhering to the highest standards of governance and Shari’ah compliance."
IDLC Islamic is governed by a distinguished Shari’ah Supervisory Committee (SSC), ensuring that the financial products and processes comply with Shari’ah principles. This new initiative aligns with IDLC's legacy of transparency and governance.
The ceremony featured the unveiling of the IDLC Islamic logo, a symbol of IDLC’s commitment to Shariah-compliant and sustainable finance.
Guests also enjoyed a Nasheed performance and shared their expectations and experiences with IDLC Islamic, underscoring the relevance and timeliness of this new financial offering, the release adds.