Shahjalal Islami Bank Limited

Shahjalal Islami Bank Limited, now commonly styled Shahjalal Islami Bank PLC, is a private-sector commercial bank headquartered in Dhaka, Bangladesh. It operates according to Islamic banking principles, which generally prohibit interest-based lending and require financing structures to be connected to trade, leasing, partnership, or other Sharia-compliant arrangements. The bank serves retail customers, businesses, institutions, and other organizations within Bangladesh through banking and financial products associated with deposits, investment financing, remittances, payments, foreign exchange, and related services. The institution was incorporated on 10 May 2001. Its identity is built around the Shahjalal name and an Islamic banking proposition rather than a conventional commercial-bank model. As with other Bangladeshi banks, its activities are primarily domestic and are shaped by the regulatory framework governing private commercial banks and Islamic banking in Bangladesh. The bank's public-facing activities include branch and alternative-channel banking, customer deposits, investment facilities, trade-related finance, and services for corporate and retail clients. The precise product portfolio and current organizational structure should be verified against the bank's latest official disclosures. The Shahjalal Islami Bank Foundation functions as the bank's corporate social-responsibility arm. The foundation provides an institutional channel for social, charitable, educational, health, and community-oriented initiatives, although the scope and scale of individual programs may vary by year. The bank has experienced repeated changes in board leadership. Individuals associated with business groups, hospitals, trading companies, and other enterprises have held the chairmanship or vice-chairmanship at different points. AK Azad was reported as chairman in 2024 and re-elected in January 2025, with Mohammed Younus and Mohiuddin Ahmed reported as vice-chairmen. M. Shahidul Islam was appointed managing director in October 2018 according to the cited reference material; the current executive-management lineup should be checked against the bank's latest corporate disclosures. The institution has also appeared in Bangladesh Anti-Corruption Commission proceedings concerning alleged embezzlement, fraudulent letters of credit, and problematic lending. These reports concern allegations and legal actions involving former directors, officers, borrowers, and associated parties; they should not be treated as findings against the bank as a whole unless established by a final judgment or authoritative regulatory determination. The bank was also identified in reporting about the alleged money-laundering activities of Prashanta Kumar Halder. These matters form part of the institution's public record and make governance, credit controls, compliance, and anti-financial-crime practices important dimensions of its reputation. Shahjalal Islami Bank remains an active Bangladeshi banking brand. Because the supplied reference material does not provide current financial statements, branch totals, market share, ownership details, or a definitive current product catalogue, those details are not asserted here.

Shahjalal Islami Bank was incorporated on 10 May 2001 as a private-sector commercial bank in Bangladesh. From its foundation, the institution adopted an Islamic banking model, offering financial services designed to comply with Sharia principles. Its principal market is Bangladesh, and its headquarters are in Dhaka. The bank's activities encompass deposit-taking, investment finance, trade services, payments, remittances, and other commercial and retail banking functions. The bank's corporate identity has developed through a combination of Islamic financial positioning and conventional bank-management requirements. Its board has included business leaders connected with manufacturing, healthcare, trading, hospitality, and other sectors. Anwer Hossain Khan became chairman in 2011, followed by successive leadership changes. AK Azad was elected chairman in 2015. Akkas Uddin Mollah took the chair in 2018, the same year that M. Shahidul Islam was appointed managing director. Md Sanaullah Shahid was reported re-elected chairman in 2021, Mohammed Younus became chairman in 2022, and AK Azad returned to the chair in 2024 and was reported re-elected in January 2025. The Shahjalal Islami Bank Foundation serves as the institution's corporate social-responsibility unit. Through this structure, the bank maintains a formal vehicle for charitable and community-oriented activities. The available reference material does not establish a complete chronology or financial assessment of the foundation's programs. The bank's public history also includes significant legal and governance controversies. In 2012, the Bangladesh Anti-Corruption Commission reportedly sued a former vice-president and five others over alleged embezzlement. In 2014, a former chairman and director was reported arrested over allegations connected with bad loans to several companies; another report described a separate allegation of misappropriation. In 2015, the commission reportedly brought a case involving Bismillah Group's managing director, bank employees, and other parties. In 2016, a former deputy managing director and four others were charged in relation to alleged use of fake letters of credit to obtain funds. The reference material also states that Prashanta Kumar Halder used the bank in an alleged money-laundering scheme connected with his broader financial misconduct. These events are allegations or reported legal proceedings and do not, without final adjudication, establish institutional criminal liability. Shahjalal Islami Bank continues to operate as an active Bangladeshi Islamic bank. Publicly available material supplied for this entry does not provide enough verified information to describe current assets, profitability, branch numbers, ownership, market share, or the full contemporary product range.

1. 2025Chairman re-elected

   AK Azad was reported re-elected chairman in January 2025.

   Source
2. 2024AK Azad returns as chairman

   AK Azad was reported elected chairman, while Mohammed Younus and Mohiuddin Ahmed were re-elected vice-chairmen.

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3. 2022Mohammed Younus elected chairman

   Mohammed Younus was reported elected chairman, with Mohiuddin Ahmed and Mohammed Golam Quddus as vice-chairmen.

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4. 2018New chairman and managing director

   Akkas Uddin Mollah became chairman, and M. Shahidul Islam was appointed managing director later that year.

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5. 2011Anwer Hossain Khan elected chairman

   Anwer Hossain Khan was reported elected chairman, with Md Harun Miah and Khandoker Sakib Ahmed elected vice-chairmen.

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6. 2001Bank incorporated

   Shahjalal Islami Bank was incorporated on 10 May 2001 in Bangladesh.

   Source

A domestic Bangladeshi private commercial bank positioned around Sharia-compliant banking, combining Islamic financial principles with retail, corporate, trade, and payment services.

• Sharia-compliant deposit accountsRetail and corporate deposits

  Deposit products structured for customers seeking Islamic banking arrangements. The supplied references do not identify the current account names, contractual structures, eligibility rules, or published returns.

• Islamic investment financingInvestment banking

  Financing and investment facilities intended to comply with Sharia principles and support commercial, business, or personal needs. Specific modes, limits, pricing, and current availability are not established by the supplied material.

• Trade financeCorporate banking

  Trade-related banking services, including letters of credit and associated import or export facilities. The bank's historical reporting references letters of credit, but does not provide a complete current catalogue.

• Retail and digital bankingConsumer banking

  Customer-facing services covering payments, account access, remittances, and alternative banking channels. Detailed channel names and technical features require verification from current official materials.

• 2001Adoption of an Islamic banking modelStrategy

  The bank was established as a private commercial bank serving customers through Sharia-compliant financial principles.

  What changed. It developed its banking identity around Islamic deposits, investment finance, trade services, and related products.

  Aftermath. The Sharia-compliant model remains the central positioning of the Shahjalal Islami Bank brand.

  Source

• 2021Reported use of bank in Halder money-laundering allegationsControversy

  Reference material states that Prashanta Kumar Halder used Shahjalal Islami Bank in connection with alleged money laundering from his broader embezzlement activities.

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• 2016Alleged fraudulent letters of creditControversy

  A former deputy managing director and four others were reportedly charged over alleged embezzlement using fake letters of credit.

  Source
• 2015Bismillah Group-related allegationsControversy

  A case reportedly involved Bismillah Group's managing director, four bank employees, and other parties over alleged embezzlement.

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• 2014Alleged bad-loan embezzlementControversy

  A former chairman and director was reported arrested in connection with alleged misappropriation involving loans to Joynob Steel, SK Steel, and Paradise Corporation.

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• 2012Alleged embezzlement case involving former vice-presidentControversy

  The Anti-Corruption Commission reportedly sued former vice-president Sayed Hassan Imam and five others over alleged embezzlement from the bank.

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• 2025AK Azad re-elected chairman

  AK Azad was reported re-elected chairman of Shahjalal Islami Bank, with Mohammed Younus and Mohiuddin Ahmed continuing as vice-chairmen.

  Leadership change
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• 2024AK Azad elected chairman

  AK Azad, associated with Ha-Meem Group, was reported elected chairman, while Mohammed Younus and Mohiuddin Ahmed were re-elected vice-chairmen.

  Leadership change
  Source

1. Shahjalal Islami Bank
2. Shahjalal Islami Bank official website