'Bismillahir Rahmanir Rahim'

By the grace of Almighty Allah

Sonali Bank limited has started Islamic Banking Activities in consideration with the increasing demand & expectation of religious Muslims. It is completely based on Islamic Shariah. A high profiled Shariah supervisory committee consists of reputed Islamic scholars, Economists & Bankers, has been working for proper & fair Islamic Banking activities.
Establishment of Islamic Windows in Sonali Bank Limited:
Sonali Bank Limited as the largest state owned commercial bank has commenced its Islamic Banking operation since 29 June 2010 at the following five branches with separate window.

  • Fakirapool branch,Dhaka
  • Agrabad corporate branch, Chittagong
  • Khulna corporate branch, Khulna
  • Bogra corporate branch, Bogra
  • Dargagate corporate branch, Sylhet

  • Aims & Objectives:
  • To facilitate the online Shariah based banking at the door step of the religious Muslims
  • To establish an excellent Islamic Banking System by direct participation in sincere & public welfare Banking, ensuring a proper & developed financial Management, based on Islamic Shariah.
  • To bring dynamism in Islamic banking by utilizing the well versed experience & good will of Sonali Bank Limited.
  • To encourage the savings, following direct Investment.
  • To create more employment facilities by inspiring project Investment.

  • Functions of Islamic Banking:
    The Islamic Banking windows are performing the following banking activities through on-line banking-

        1. Collection of Deposits

        2. Investment Assistance
    Deposit Collection
    The windows are taking deposit through different types of accounts. There are mainly two types of deposit accounts:

        1. Al-Wadeeah A/C

        2. Mudaraba A/C

    Al-Wadeeah Current A/C :
    Islamic Banking Windows operates Al- Wadeeah current A/C, based on Al- Wadeeah policy of Islamic Shariah. In this policy bank undertake to make payment of A/C holders money on demand & A/C holders permits the bank to utilize his/her money. A/C holders can make transactions randomly No profit given by the bank & no loss beared by the A/C holder.

    Mudaraba A/C:

    As per Mudaraba policy of Islamic Shariah the following A/Cs are being maintained.
         A) Mudaraba Savings Deposits
         B) Mudaraba Special Notice Deposit
         C) Mudaraba Term Deposit
         D) Mudaraba Hajj Savings
         E) Mudaraba Sonali Monthly Deposit Scheme(SMDS)
         F) Mudaraba Monthly Profit Scheme(MMPS)


    In these accounts ‘Bank’ is treated as ‘Mudarib’ and client is treated as ‘Sahib Al Mal’. Bank receives deposit from the depositors and invest it as per Shariah Law and distribute (minimum 65%) profit earned for the Mudaraba fund as weigtage basis at the end of the year.

    Mudaraba Haj Savings A/C :
    This type of A/C is an opportunity to those Muslims who are interested to perform holy Haj (Pilgrim) but unable to manage the required fund at a time, by savings fixed monthly installment for the particular period of time from 1 year to 20 year, the person concerned can build the fund.

    Investment Activities :
    In Islamic Banking System the following types of investment are being done -
         A) Trading:
             1. Bi-Murabaha
             2. Bi-Muazzal
             3. Bi-Salam
             4. Bi-Istisna
         B) Partnered ownership or Hire Purchase under Shirkatul Milk (HPSM)

    Bai-Murabaha (Sale in profit as per contact):
    Sale in profit on purchased value in consent of both Bank & Client, Called Bi- Murabaha.

    Bi-Salam(Advanced purchase):
    The business contract in which bank made advanced payment against the supply of commodities in a future stipulated period of time is called Bi- Salam. On taking delivery of the commodities on the specified time the bank can sale these to other party.

    Bi-Istisna:
    A contract between seller & Buyer under which seller/supplier undertake to supply on manufacturing the particular goods to the buyer/receiver is called Bi-Istina. The details of contract i,e, value, nature, pattern, class, Amount, Place, Time & mode of payment, carrying cost etc must be mentioned in the contract.

    Hire-Purchase under Shirkatul Milk:
    The contract made by bank & Clients jointly to purchase vehicle, Machineries & Equipments , building , Apartment etc.wherein client utilize the same rental basis & made the payment of Bank portion on installment & acquire the ownership proportionately, is called Hire Purchase under shirkatul –Milk. The actual value, monthly rent, Value of bank’s portion, payment schedule, securities etc. is settled before the purchase agreement made.

    The following Services are being provided by the Islamic windows:
         a) On-line Real Time Banking facilities.
         b) Payment order issue.
         c) Remittance facilities through DD/TT etc.

    You are cordially invited to contact to have any information or discussion/suggestion at any time to our nearby window or Islami Banking Department.
    Tel: 88-02-9556608, website: www.sonalibank.com.bd also be visited without hesitation.

    ....'Allah has permitted trade and has forbidden interest'...
                -Surah Al-Baqarah, verse 275

    'You must do business, because 90% of your subsistence is in business'
                -Al-Hadis

    'Halal Earning is the pre-condition of acceptance of Prayer'
                -Al-Hadis
    Islami Banking of Sonali Bank Limited
    Sonali Bank Limited
    Marketing & Development Division
    Islamic Banking Department
    Head Office
    Dhaka.