Business Report :
People of Bangladesh are more interested and confident in Islamic finance. So a trillion dollar economy is not possible without Islamic finance. In the near future, the vast majority of financial institutions will be governed by Sharia law.
The speakers said at a national seminar titled ‘Accounting, Auditing and Governance of Islamic Banks’ organized jointly by the Central Shariah Board for Islamic Banks of Bangladesh (CSBIB) and the Bangladesh Institute of Bank Management (BIBM) at a hotel in the capital Dhaka on Saturday.
In the opening session Director General of BIBM Md. Akhtaruzzaman presided over the session while Secretary General of Central Sharia Board Md. Abdullah Sharif gave a welcome speech.
Kazi Akram Uddin Ahmed, Chairman of the Executive Committee of Central Shariah Board and Chairman of the Board of Directors of Standard Bank Plc inaugurated the seminar as the chief guest.
Syed Kamaluddin Abdullah Jafari, Chairman of Fiqh Committee of Central Shariah Board and Chairman of Shariah Supervisory Committee of Mutual Trust Bank, Accounting, Mughis Shawkat, Senior Manager of Capacity Building Programs at the Accounting and Auditing Organization for Islamic Financial Institutions (AoIFI), a standard-setter for Islamic banks and financial institutions worldwide, is based in Bahrain and Md. Alamgir, Director, Training Department, BIBM were present as special guest.
Kazi Akram Uddin Ahmed said, “Allah Rabbul Alamin has forbidden usury.” So I converted my bank from conventional bank to Shariah based bank.
And currently there is no alternative. I hope that in the near future most of the banks and financial institutions in Bangladesh will be run according to Islamic Shari’ah. There is no substitute for enriching the country.
Special guest Mughis Shawkat said that the government’s Vision 41 has a vision to increase the economy from 500 billion to trillion dollars. It cannot be implemented without Sharia based banking and finance. In this regard, Islamic banking professionals have to prepare and make important contributions.
Md. Akhtaruzzaman said, without Sharia-based banking system, it is not possible to reach the doorstep of people of all levels.
3 keynotes were presented in the seminar and discussed in detail by expert speakers.
It should be noted that a 5-day training course on ‘Shariah Audit of Islamic Banking’ is being held from June 8-12. On June 12, the final phase will be held at BIBM Milnayan. 40 participants from 23 banks, around 150 people including domestic and foreign important guests participated in the seminar.