Historical Background

Bank Asia started its Islamic Banking operations in December 2008 and now operating five Islamic Banking Windows – 3 in Dhaka, 1 in Chittagong and 1 in Sylhet.
 

The preparation to start Islamic Banking operations in the Bank was as if it were the preparation to start a new bank. The maiden business operation of Islamic Banking unit in Bank Asia could be compared with the new bank operation unlike a new department.
 

The Board of Directors of Bank Asia Limited decided to enter into the realm of Islamic Banking in the year 2004. In 2008, Bank Asia had the fortune to obtain NOC of Bangladesh Bank to go for Islamic Banking under the Islamic Window concept within conventional branches.
 

Being guided by prominent Islamic Banking Consultant, Mr. M. Azizul Huq, we developed fresh modus operandi for operations of Islamic Banking Windows in conventional bank. Thus we started a new era of Islamic Banking through inauguration of its first Islamic Banking Window at the Bank’s Uttara Branch in Dhaka on the 24th December, 2008.
 

The Bank provides this services by separate Islamic Banking software i-Hikmah and real time online Islamic Banking services from the entire network under the exclusive brand ‘SALAMAH’ (means purity).
 

In 2016, Bank Asia obtained formal permission from Bangladesh Bank to provide Online based financial transaction facilities through all outlets of the Bank to the clients of our Islamic Banking Windows. Under the permission of Bangladesh Bank, we are now offering more diversified deposit and investment products to meet the growing needs to the online customers through all outlets of the bank. To make the venture successful, our Islamic Banking conducted several training programs, both on-the-job & off-the-job, to all the concerned officials of the bank. We hope that through the expanded network, our Islamic Banking would flourish exponentially.
 

Later 2017, we have started our Islamic Banking activities under Agent Banking framework through 25 piloting outlets using separate software for conducting its business activities. We hope that this would create stronger brand image of Islamic Banking and would contribute more in the overall profitability of the Bank.
 

Islamic Banking of Bank Asia has been passing the 11th year of its operations starting from the Islamic Window concept. Now, Islamic banking is following virtual Window model. For Islamic deposit and investment business, the Bank is simultaneously using all of its distribution Channels, i.e. Conventional Branches, SME Centers, and Agent Banking Outlets through online services beside the dedicated Islamic Banking Windows.​