DBH Finance holds first Shari'ah Supervisory Committee meeting

DBH Finance PLC, formerly known as Delta BRAC Housing Finance Corporation Limited, held the first meeting of its Shari'ah Supervisory Committee on Monday (9 January) at DBH's head office in Gulshan, Dhaka. 

Dr Muhammad Saifullah chaired the meeting as chairman of the Shariah Supervisory Committee of DBH Finance, reads a press release. 

The meeting was attended by other members of the committee including Bangladesh Bank's former executive director Md Abdul Awal Sarkar, Dr Zubair, CSAA and Professor of Department of Arabic at University of Dhaka Muhammad Ehsanul Haque, DBH Finance Managing Director & CEO Nasimul Baten, DMD & Head of Islamic Financing Division (currently in-charge) Tanbir Ahmad and CSAA and DBH Sharia Supervisory Committee Member Secretary Md Abu Yusuf.

Nasimul Baten, managing director and CEO of DBH, said, "In response to the increasing demand from customers, launching the DBH Islamic Financing wing - under the brand name called 'DBH Islamic' - for collection of Mudaraba deposits and Islamic financing through a proper Shariah-compliant method is currently waiting for the final approval of Bangladesh Bank."

The Shariah Supervisory Committee in its first meeting approved the "Product Program Guidelines (PPG) for the operation of Mudaraba Deposit and Financing activities of DBH Islamic Financing wing with a view to launching Islamic financing services.