Experts at an event emphasized the critical importance of robust Shariah governance to ensure the sustainable growth and integrity of the Islamic banking sector in Bangladesh.
The observations were made at a seminar titled "Shariah Governance in Islamic Banks of Bangladesh: An Evaluation," organized by the Bangladesh Institute of Bank Management (BIBM) in collaboration with INCEIF University, Malaysia, held at the BIBM Auditorium in the capital on Monday, said a press release.
Inaugurating the seminar, Nurun Nahar, Chairman of the BIBM Executive Committee and Deputy Governor of Bangladesh Bank, underscored that strong Shariah governance is vital for maintaining the integrity of Islamic banking, according to BSS report.
She noted that effective governance ensures compliance with regulatory requirements while upholding Shariah principles, thereby enhancing sector resilience and sustainability.
Dr Md Ezazul Islam, Director General of BIBM, who chaired the program, emphasized that Shariah governance goes beyond technical compliance, encompassing institutional culture, professional competence, depositor protection, transparency, and ethical accountability.
He remarked that for a country like Bangladesh, where Islamic banking has expanded significantly, strengthening governance is indispensable to meet depositor expectations for both financial soundness and Shariah authenticity.
A keynote paper presented by a research team led by Dr. Md. Mahabbat Hossain, Associate Professor of BIBM, evaluated existing governance practices and identified challenges while proposing policy recommendations to improve standards across Islamic banks.
Professor Dr. Said Bouheraoua, Director of the ISRA Institute at INCEIF University, Malaysia, shared international perspectives and global best practices during the session.
Earlier, Md. Shihab Uddin Khan, Professor and Director at BIBM, delivered the welcome address, highlighting the need for strong governance to ensure transparency, credibility, and public trust.
A distinguished panel of discussants, including Abdul Awal Sarker, Director of Janata Bank PLC; Md. Abdus Salam, Independent Director of Islami Bank Bangladesh PLC; Mosleh Uddin Ahmed, Managing Director of Shahjalal Islami Bank PLC; Nabil Ahmad from the Financial Reporting Council; and Mohammad Anisur Rahman, Director at Bangladesh Bank, shared insights on regulatory oversight and strategies for governance enhancement.
The seminar was attended by senior bankers, regulators, academics, and researchers.
