To ensure transparency, the audited credit rating link for each bank is provided below.
| Bank Name | Trading Code | Shariah Status | Mufti's Comment | DSE Profile |
|---|---|---|---|---|
| Al-Arafah Islami Bank | ALARABANK | ✅ 100% Halal | Investment is safe. No liquidity crisis. | View Rating ↗ |
| Shahjalal Islami Bank | SHAHJABANK | ✅ 100% Halal | Excellent corporate governance. | View Rating ↗ |
| Islami Bank Bangladesh | ISLAMIBANK | ✅ 100% Halal | Largest bank. Restructuring is underway. | View Rating ↗ |
| Standard Bank | STANDBANKL | ✅ 100% Halal | Doing well as a new Islamic bank. | View Rating ↗ |
| Social Islami Bank | SIBL | ✅ 100% Halal | Withdrawing large amounts of money is risky. | View Rating ↗ |
| Global Islami Bank | GIB | ✅ 100% Halal | Experiencing a severe liquidity crisis. | View Rating ↗ |
| Union Bank | UNIONBANK | ✅ 100% Halal | Under the observation of Bangladesh Bank. | View Rating ↗ |
| EXIM Bank | EXIMBANK | ✅ 100% Halal | Facing post-merger complications. | View Rating ↗ |
| First Security Islami Bank | FIRSTSBANK | ✅ 100% Halal | Management restructuring is underway. | View Rating ↗ |
| ICB Islamic Bank | ICBIBANK | ✅ 100% Halal | Sick bank. It is better not to transact. | View Rating ↗ |
| Wing Name | Parent Bank | Trading Code | Mufti's Analysis | Neutral Proof |
|---|---|---|---|---|
| City Islamic | City Bank | CITYBANK | Service is very good. Shariah Board is strong. | View Rating ↗ |
| Saadiq | Standard Chartered | FOREIGN | Foreign bank. Achieved 'AAA' rating for 17 consecutive years. | AAA Rating ↗ |
| Hasanah | Prime Bank | PRIMEBANK | The Hasanah brand is quite trusted. Audits are done regularly. | View Rating ↗ |
| BRAC Islamic | BRAC Bank | BRACBANK | One of the strongest banks in the country. Uses separate software. | View Rating ↗ |
| AB Islamic | AB Bank | ABBANK | Weak economic condition. Keeping deposits is risky. | View Rating ↗ |
| Premier Islamic | Premier Bank | PREMIERBAN | Under pressure due to money laundering investigations. | View Rating ↗ |
| Bank Asia Islamic | Bank Asia | BANKASIA | Provides good service in rural areas as well. | View Rating ↗ |
| Dhaka Bank Islamic | Dhaka Bank | DHAKABANK | Good for corporate dealings. | View Rating ↗ |
| Jamuna Islamic | Jamuna Bank | JAMUNABANK | Moderate quality service. | View Rating ↗ |
| Southeast Islamic | Southeast Bank | SOUTHEASTB | At risk due to ownership conflicts. | View Rating ↗ |
The operations of the following 30 banks are directly based on interest.
| Bank Name | Type | Shariah Ruling | Economic Condition & Comment |
|---|---|---|---|
| -- State Owned Banks -- | |||
| Sonali Bank PLC | Govt. | ❌ Haram | Largest government bank in the country. Safe for treasury challans, but keeping deposits is haram. |
| Janata Bank PLC | Govt. | ❌ Haram | In critical economic risk due to massive default loans. |
| Agrani Bank PLC | Govt. | ❌ Haram | Good for remittances, but operations are interest-based. |
| Rupali Bank PLC | Govt. | ❌ Haram | The only government bank listed in the stock market. |
| BASIC Bank | Govt. | ❌ Haram | Extremely corrupt and almost bankrupt. Merger talks with City Bank are ongoing. |
| -- Private Commercial Banks (Interest-based) -- | |||
| BRAC Bank | Private | ❌ Haram | Economically very strong (AAA Rating). Good service, but interest-based. |
| Dutch-Bangla Bank (DBBL) | Private | ❌ Haram | Largest ATM network. Can be used for withdrawing and depositing money (Debit Card). |
| Eastern Bank (EBL) | Private | ❌ Haram | Premium banking service. Popular for corporate customers. |
| City Bank | Private | ❌ Haram | Leading in digital banking. However, deals in interest. |
| United Commercial Bank (UCB) | Private | ❌ Haram | Owner of Upay MFS. Stable economic condition. |
| Pubali Bank | Private | ❌ Haram | Oldest and largest private bank. Very good rural network. |
| National Bank (NBL) | Private | ❌ Haram | Currently in a critical liquidity crisis. Transactions are extremely risky. |
| IFIC Bank | Private | ❌ Haram | Has 1000+ sub-branches nationwide. Service is moderate. |
| Uttara Bank | Private | ❌ Haram | Old bank, satisfactory rating. |
| Mutual Trust Bank (MTB) | Private | ❌ Haram | Known for smart banking services. |
| Mercantile Bank | Private | ❌ Haram | Mid-tier bank. Condition is stable. |
| ONE Bank | Private | ❌ Haram | Under some pressure from bad loans (Watch List). |
| AB Bank | Private | ❌ Haram | The country's first private bank, but currently in a weak economic condition. |
| Southeast Bank | Private | ❌ Haram | Has an Islamic wing, but the parent bank is interest-based. |
| Premier Bank | Private | ❌ Haram | Under pressure due to money laundering investigations. |
| Jamuna Bank | Private | ❌ Haram | Mid-tier bank. |
| NCC Bank | Private | ❌ Haram | National Credit and Commerce Bank. Good rating. |
| Bank Name | Origin | Rating | Comment |
|---|---|---|---|
| -- Foreign Commercial Banks -- | |||
| Standard Chartered | UK | AAA | The safest bank in Bangladesh. 150+ years of history. Has an Islamic wing (Saadiq). |
| HSBC | UK | AAA | Best for international business. However, less retail banking. |
| Citi N.A | USA | AAA | Serves corporate customers only. |
| Woori Bank | South Korea | AAA | Specialized for Korean investors. |
| State Bank of India (SBI) | India | A+ | Used for Indian visa fees and LCs. |
| -- Specialized Banks -- | |||
| Bangladesh Krishi Bank | Govt. | Critical | For farmers. However, has a massive capital shortfall. |
| Probashi Kallyan Bank | Govt. | Stable | Specialized in giving loans to expatriates. |
| Service Name | Ownership | Shariah Features | Official Link |
|---|---|---|---|
|
Nagad Islamic Fully Separate | Postal Department | The country's only 'separate Islamic MFS'. Their funds and balance sheets are completely separate. Offers Islamic insurance facilities. | Islamic Site ↗ |
|
mCash 100% Sharia | Islami Bank | It is 100% Shariah-compliant by inception. It has no interest-based version. Operated under the direct supervision of Islami Bank. | Service Page ↗ |
|
bKash Islamic App Mode | BRAC Bank | Operated under the Shariah Board of City Bank. Activating the 'Islamic Icon' from the app stops interest from accruing on deposited money. | Islamic DPS ↗ |
|
Upay Donation Mode | UCB Bank | Has a 'Zakat Calculator' and 'Islamic Fund Donation' option inside the app. Monitored by the Shariah Board of UCB Bank. | Islamic Info ↗ |
Earning profit based on asset ownership and rent instead of interest.
This is the most popular. Here, the government or a company leases out their asset (e.g., a water project) to investors for a specific period.
This is basically fund collection for building large projects, such as building a solar power plant. The income generated from the project is distributed among the shareholders.
Taking a gambling and interest-free 'Takaful' policy is halal.
| Company Name | Type | Why is it the best? | Official Info |
|---|---|---|---|
|
MetLife Global #1 | Takaful (Family) | At the peak of trust in Bangladesh since 1952 (70+ years). 100% claim settlement record and operated under an International Shariah Board. | Details ↗ |
| Islami Insurance BD | General | Follows Shariah-compliant policies for insuring cars, factories, or goods. | Check ↗ |
| Prime Islami Life | Life | Follows Mudarabah and Wakalah models for life insurance. | Check ↗ |
| Takaful Islami Insurance | General | Operated under a Shariah Board since 1999. | Check ↗ |
Buying and selling shares of halal businesses is permissible, subject to certain conditions.
Yes, but 3 conditions must be met:
Avoid haram savings certificates and adopt the following 4 halal alternatives.
Here profit is given at a fixed rate, which is direct Riba. There is no risk, so it is not a business but a loan.
You deposit money in the bank, the bank does business with it, and profit/loss is shared at the end of the year.
As safe as savings certificates, but it gives profit based on the rent of government assets instead of interest.
Buying land for the long term or partnering in a reliable business is the best and most blessed halal investment.
Agent banking provides services where there are no main bank branches. But be careful if the parent bank deals in interest!
| Agent Service Name | Parent Bank | Shariah Status & Comment | Official Link |
|---|---|---|---|
| Islami Bank Agent | IBBL | ✅ 100% Halal The largest network across the country. | Outlet List ↗ |
| Al-Arafah Agent | AIBL | ✅ 100% Halal Ensures Shariah services even in villages. | Agent Page ↗ |
| Social Islami Agent | SIBL | ✅ 100% Halal Providing services through new entrepreneurs. | Agent Info ↗ |
| First Security Agent | FSIBL | ✅ 100% Halal Known as FSIB Agent Banking. | Details ↗ |
| Bank Asia Agent | Bank Asia | Islamic Wing They have an 'Islamic Window'. | Agent Site ↗ |
| City Bank Agent | City Bank | Islamic Wing City Islamic services are also available at agent points. | Agent Site ↗ |
| Dutch-Bangla Agent | DBBL | ❌ Haram (Interest-based) Parent bank is interest-based. Making fixed deposits here is haram. | Official Page ↗ |
Proper Shariah guidelines for sending expatriates' hard-earned money to the country.
According to Islamic Shariah, Hundi is haram. Because:
Use legal banking channels, bKash Remittance, or exchange houses. Through these, a 2.5% incentive is given by the government, which is completely halal.
Shariah solutions to frequently asked questions on banking and economics.
Answer: The money must be withdrawn as soon as it enters. It cannot be accumulated. If any interest accrues, it must be donated to the poor without the intention of reward. The basic salary is halal.
Answer: DPS of conventional banks is haram. However, if the DPS of an Islamic bank is based on the 'Mudarabah' (profit and loss sharing) principle, then it is halal.
Answer: It is impermissible to use cards from interest-based banks because they contain 'late fee' or interest conditions. However, using Islamic bank cards (based on Ujrah/fee) is permissible.
Answer: Doing anything with an interest-based loan is haram. However, it is permissible to buy a house or car by taking an investment from an Islamic bank under the 'HPSM' (Hire Purchase) method.
Answer: It has no physical existence and falls under deception (Gharar) and gambling. There is also a ban from Bangladesh Bank. Therefore, one should abstain from it.
Answer: General insurance involves gambling and interest, so it is haram. As an alternative, adopting a Shariah-compliant 'Islamic Takaful' policy is halal.
وَاللَّهُ يَرْزُقُ مَن يَشَاءُ بِغَيْرِ حِسَابٍ
"And Allah gives provision to whom He wills without account."
[Surah Al-Baqarah: 212]