Shariah Supervisory Committee
The Shari'ah Supervisory Committee of the Bank plays a vital role in framing and exerting policy for strict adherence of Shari'ah principles in the Bank. As per Islamic Banking Guideline circulated by Bangladesh Bank, the Board of Directors may form an independent Shariah Supervisory Committee (SSC) with experienced and knowledgeable persons in Islamic Jurisprudence for Shariah Compliant Islamic Banking. Trust Bank Shari'ah Supervisory Committee is represented by 3 members consisting of prominent Ulama having adequate knowledge in Fiqhul Moamalat.
Trust Islamic Banking
| SL. | NAME OF THE ISLAMIC BANKING WINDOW | LOCATION | NO. OF BRANCHES |
|---|---|---|---|
|
1 |
Principal Branch |
Dhaka |
15 |
|
2 |
Dhanmondi Corporate Branch | ||
|
3 |
Gulshan Corporate Branch | ||
|
4 |
Dilkusha Corporate Branch | ||
|
5 |
Islamic Banking
Islam demands all economic activities including banking should run in accordance with the Islamic Shariah i.e. prohibition ofinterest from all transactions and dealing in businesses that are allowed (halal) in shariah. Islamic Banking has potential for earthly returns (earning profit) as well as reward in the Divine world (benefit in hereafter) by abiding the instructions of the Almighty Allah.
Shariah Principals of Islamic Banking
Al-wadiah:
Al-Wadiah is a ‘safe keeping’ arrangement approved in shariah. Islamic Banks use the Al-Wadiah principles to receive deposits in Current Accounts. Islamic Banks obtain permission from the Al-Wadiah depositors to utilize the Funds at its own responsibility and the depositors would not share any profit or loss earned/incurred out of using of this funds by the bank. The Banks have to pay back the Al-Wadiah deposits received on demand of the depositors.
Mudaraba:
