Islamic Banking seminar held for Central Bank Officials of Bangladesh

The seminar, on behalf of the South Asia Enterprise Development Facility (SEDF), an International Finance Corporation (IFC) body of the World Bank was held in Dubai, from the 23rd - 28th of June 2005.

The week long seminar was aimed at giving the officials from the Central Bank of Bangladesh, an understanding on the various aspects of Islamic Banking and experience on the regulations and procedures followed by Central Bank inspectors when inspecting commercial banks for their adherence to Shariah Principles.

There were prominent speakers from reputable financial institutions who spoke on different areas of Islamic Banking which included Economic Philosophy of Islam, Forbiddance of Riba, Usury, Loan Capital versus Risk Capital, Advent of Islamic Banking, Mudaraba (Fund Management), Musharaka (Joint Venture), Murabaha (Sale with Profit), Istisna (Sale of undeveloped Asset), Salam (Sale of non-developed Goods), Ijara (Leasing), Sukuk (Islamic Bonds) and Sanadeeq (Islamic Funds).

The Central Bankers from Bangladesh completed the training seminar with a clearer understanding of Islamic Banking principles and the issues involved in implementing Shariah Principals within the Islamic Banking system in Bangladesh.

"We at Dun and Bradstreet SAME Ltd., recognize the importance of Islamic Banking and the need to bring best practices on various aspects to emerging economies. Dun and Bradstreet SAME Ltd. is committed to playing an expanding role to meet this objective" said Mr. Rajesh Mirchandani-Chief Executive Officer, Dun and Bradstreet SAME Ltd.