| dc.description.abstract | Islamic banking and finance operate under Shariah (Islamic law) principles, emphasizing risk
sharing, ethical investments, and prohibiting interest (riba). Due to the rapid rise of Islamic banking
and finance in the global banking and finance sector, Bangladesh has recently seen the anticipated
expansion of Islamic banking and finance. Islamic banking and finance in Bangladesh have
enormous potential, but they also face certain obstacles, such as a lack of infrastructure for these
sectors, a lack of a clear legal foundation, a lack of central bank consideration, a lack of an Islamic
capital market, and difficulty accessing Shariah law experts and raising public awareness.
This thesis examines the principles and practices of First Security Islami Bank Limited (FSIBL)
in Bangladesh along with its effect on economic development in Bangladesh, focusing on its
compliance with Islamic financial doctrines, operational models, challenges, and future prospects.
The study evaluates FSIBL’s adherence to Shariah principles, its financial products, and the
competitive landscape of Islamic banking in Bangladesh. Through a content analysis, the study
examines this bank's published texts, articles, websites, and annual report. The study's main
conclusions highlight the bank's contributions to Bangladesh's economic development in a number
of areas, including job creation, foreign remittance earnings, rural economy strengthening, green
banking and ecology promotion, industrialization, SMEs development, aiding in import-export
trade, and housing sector development. The substantial contribution that FSIBL makes to the
national exchequer is also noted in this report.
This research fills a vacuum in the literature in this particular area and advances the field of
Bangladesh's economic development and the role played by FSIBL. According to the study,
Islamic banking significantly influences Bangladesh's economic growth.
Key Words: Risk sharing, Capital market, Financial products, etc. | en_US |
