Bangladesh Bank Approves Islamic Financing for IPDC Finance
What happened
Bangladesh Bank has given IPDC Finance permission to launch an Islamic shariah-based financing business through a newly established “Islamic Finance Wing.” This approval is conditional on the company fulfilling several stipulated terms and conditions set by the central bank. These requirements include amending the company’s Memorandum and Articles of Association, forming an independent Shariah Supervisory Committee, and establishing a separate Islamic Finance Division. IPDC Finance must also segregate Islamic funds and implement prescribed operational policies and separate accounting arrangements.
From thedailystar.net
Why it matters
The move allows IPDC Finance to enter the Islamic finance sector, which is expanding across Bangladesh. As of March 2026, 10 full-fledged Islamic banks were operating across the country. The central bank’s approval signals a potential diversification of financial services available in the market.
From thedailystar.net
Who's involved
- Bangladesh BankCentral bank of Bangladesh that granted conditional approval for the new financing business.
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The entities involved
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Bangladesh Bank
central bank of Bangladesh and member of the Asian Clearing Union
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