DBH inaugurates its Islamic Financing Wing 'DBH Islamic'

DBH Finance PLC – a housing finance institution – launched the Islamic Financing Wing (IFW) of the company "DBH Islamic" at a programme held at its head office recently.

Nasir A Choudhury, chairman of the company, formally inaugurated the "DBH Islamic" as the chief guest of the programme whereas Fariduddin Ahmed, an ex-banker of Islamic Banks of Bangladesh and Member, Shari'ah Supervisory Committee of DBH was present as special guest, said a press release.

Among others, members of board of directors and Nasimul Baten, managing director & CEO including senior executives of DBH were also present at the inauguration ceremony.

Nasir Choudhury, chairman of DBH in his speech expressed his expectation that DBH Islamic would be a trusted name for providing Shari'ah-compliant Islamic financing services to its customers.

Nasimul Baten, managing director & CEO of DBH described the inauguration of Islamic Financing Wing as a very important landmark for the company and mentioned that from now on DBH Islamic will be able to provide Shari'ah-compliant Islamic financing services to its customers from all of its 14 branches located in all major cities of Bangladesh. Initially, DBH Islamic will mobilise Mudaraba deposits and provide Islamic Home Financing and Car financing under Hire Purchase Shirkatul Meelk (HPSM) scheme and gradually it will offer more products for the customers, he mentioned.

Earlier, on April 10, the DBH received the final approval from Bangladesh Bank to start its Shari'ah-based Islamic Financing Wing (IFW). DBH has branches in Dhaka, Chattogram, Rajshahi, Khulna, Rangpur, Sylhet, Cumilla, Gazipur, Savar and Narayanganj and Islamic financial services will be available from all of its branches.