DBH gets approval to open Islamic Financing Wing

DBH Finance PLC, one of the largest and specialist housing finance institutions in the country, has secured final approval from Bangladesh Bank (BB) to open its Islamic Financing Wing (IFW).

The DBH got the approval from the BB on April 11th to start its Shari’ah-based Islamic Financing Wing (IFW) to offer Shari’ah-compliant products and services from all of its 14 branches located in all major cities across the country, reports a press release.

Nasimul Baten, managing director of the DBH said, “This is a milestone achievement for us as there is a huge demand for Shariah based products in the market at present. We have completed our preparations under the guidance of a very competent Shahirah Supervisory Committee of the financial institution.”

With the approval, the company is now ready to offer Shariah-compliant deposit and housing financing products to cater to the growing need of the clients, he said.