Standard Islami Bank

Summary

Standard Islami Bank PLC, formerly Standard Bank PLC, is a private commercial bank in Bangladesh. ¹

Origins

It was founded on 3 June 1999 with approved capital of 750 million taka; Kazi Akram Uddin Ahmed was its founding chairman. ¹

Turning to Islamic banking

The bank decided to switch from conventional to Shariah-compliant banking and closed for four days in December 2020 to make the change. ¹ In February 2026 it rebranded as Standard Islami Bank. ¹

Cases

In February 2021 the Anti-Corruption Commission sued a former managing director and seven others for misappropriating 40 million taka from the bank; a Dhaka judge sent him to jail in October 2022. ¹

References

English Wikipedia, "Standard Bank (Bangladesh)", revision 1380713260. ¹

Islamic banks and conventional banks — the difference, the doubts and the performance

The two 'Al-Wasatiyya' episodes on Islamic banks. In the first, 56% of the studio audience said they could not define riba, 79% that they knew nothing of the murabaha, mudaraba, tawarruq and salam contracts, and they split into thirds on whether Islamic banks are free of doubt; in the second, 65% chose to buy by murabaha from an Islamic bank, 57% thought abolishing riba impossible while the world economy runs on interest, and 49% judged Islamic banks' social role weaker. The guests agreed that conventional bank interest is riba and differed over the existing Islamic banks.

At a glance

In the Modern Islam Browser

Footprint

Summary

Origins

Turning to Islamic banking

Cases

References

People and things also explored

Sources

Made

Islamic banks and conventional banks — the difference, the doubts and the performance