The Central Shariah Board for Islamic Banks of Bangladesh (CSBIB) was established in 2001 following the instructions from Bangladesh Bank to help guide Islamic banks and their branches/windows to track the correct path of Shariah-compliant banking. As a national, non-profit organization, CSBIB works to unify the activities of its member institutions and promote Islamization of the banking system. Registered by the government in 2009, CSBIB supports the government, the central bank, regulators, and member banks by providing industry-wide Shariah guidance and oversight.

Mission and Vision:

CSBIB aims to unify Shariah-compliant practices of Islamic banks in Bangladesh, promote Islamization of the banking system, support member institutions in implementing standardized Shariah guidelines, develop skilled professionals through training and research, publish and disseminate Islamic finance knowledge, and enhance public awareness of Shariah-based financial practices while positioning itself as a leading Shariah and research authority in the Islamic finance sector.

Organogram:

CSBIB operates through a General Assembly comprising ex-officio representatives of its member institutions, an Executive Committee, and a Fiqh Committee, which collectively oversee and conduct all organizational activities. The Board’s operations are supported by a General Secretariat, which manages day-to-day administrative and operational functions.

Key Persons:

• Professor Dr. Mohammad Gias Uddin Talukder – Chairman
• Mufti Mohammad Muhibbullahil Baqee An-Nadwi – Secretary General (Acting)
• Dr. Md. Anwar Hosain Molla – Vice Chairman
• Sayed Kamaluddin Abdullah Zafree – Chairman, Fiqh Committee

Member Institutions:

CSBIB serves as an apex body for 10 fully-fledged Islamic banks, 10 Islamic banking branches, 9 Islamic banking windows, and 1 non-bank financial institution operating in Bangladesh:

Fully-fledged Islamic Banks

Conventional Banks with Islamic Banking Branches

Conventional Banks with Islamic Banking Windows

Non-Bank Islamic Financial Institutions

• Islamic Finance and Investment PLC

Activities and Major Achievements:

Support to Bangladesh Bank:

CSBIB has supported Bangladesh Bank by issuing important Shariah Verdicts (Fatwas) and opinions that enhanced regulatory and operational clarity. Key examples include its opinions on Zakat payment by Shariah-based banks, Islamic financing against Delivery Orders (DO), and the structure of Islamic foreign exchange forward products. It also provided guidance on foreign-currency subordinated Mudaraba Sukuk issued by Social Islami Bank, helping strengthen the development of Shariah-compliant financial instruments in Bangladesh.

Shariah Verdicts/Fatwa:

CSBIB has provided more than 100 fatwas to the Bangladesh Bank and its member institutions.

Capacity Building:

• Training and Workshop: CSBIB has organized 33 training courses and 28 workshops, participated by over 3,000 trainees.
• BIBM-CSBIB Joint Programs: CSBIB and the Bangladesh Institute of Bank Management (BIBM) have jointly conducted 28 training and workshop programs, engaging over 850 participants from the banking sector.
• Certificate Programs: CSBIB conducts the Certificate Course on Islamic Banking & Finance (CIBF) to develop skilled professionals in the Islamic banking sector. So far, 335 fellows have successfully completed the programs.
• CSBIB as an AAOIFI Education Partner: Through this partnership, CSBIB has successfully developed a strong pool of certified professionals in the industry, including:
  • Certified Shari’ah Adviser & Auditor (CSAA) – 437 fellows;
  • Certified Islamic Professional Accountant (CIPA) – 51 fellows &
  • Certified Proficiency in Shari’ah Standards (CPSS) – 46 fellows.
• Seminar and Conference: Many of these programs have been jointly conducted in cooperation with renowned local and global institutions, such as AAOIFI, ISRA, BIBM,
• Instant Interpretation: CSBIB has conducted instant interpretation of AAOIFI and ISRA seminars, conferences and webinars into Bangla, making global Islamic finance knowledge accessible to local professionals and stakeholders.
• Syllabus Development: CSBIB is developing a curriculum on Islamic Banking and Finance for universities in Bangladesh, including a diploma program and a dedicated Islamic Finance Institute.
• Exchange of Views and Roundtable Discussions: CSBIB regularly organizes important exchange of views and roundtable discussions to address national and industry-related needs, facilitating dialogue among stakeholders and promoting the development of Shariah-compliant banking in Bangladesh.

Islamic Banking Award:

Every year, CSBIB confers the Islamic Banking Award to individuals and institutions in recognition of their outstanding contributions to the Islamic banking industry. So far, 8 recipients have been honored with this award.

Publications:

CSBIB regularly produces a range of scholarly and industry-focused publications, including:

• Periodic Journals,
• Regular Bulletins &
• Books (authored or translated).