Internship Report on Social islami Bank Limited

Bangladesh is one of the largest Muslim countries in the world. The people of this country are deeply committed to Islamic way of life. Naturally, it remains a deep cry in their hearts to fashion and design their lives in accordance with the percepts of Islam.
Social Investment Bank limited (SIBL) started its journey with the concept of 21st century Islamic participatory three sector banking comprising Formal, Non-Formal & Voluntary Sector. While Formal Sector deals in general commercial banking with latest technology as a scheduled bank, Non-Formal Sector deals in Family Empowerment Micro-credit, Micro- Enterprise and SMEs financing with a view to poverty reduction and unlock the potentials of the "missing middle" who had not been properly addressed by the Corporate Banking Sector. Under Voluntary Sector, the bank is doing "Welfare banking" through its Cash Waqf Scheme, an innovative financial product for Social Capital mobilization introducing for the first time in the history of banking.

It is committed to conduct all banking and investment activities on the basis of interest-free profit loss sharing system. In doing so, it has unveiled a new horizon and inhered in a new silver lining of hope towards materializing a long cherished dream of the people of Bangladesh for doing their banking transactions in line with what is prescribed by Islam.

Having inspired with the above program, few renowned personalities of the Islamic world namely (i) H.E. Dr. Hamid Al Gabid, Former Secretary General of OIC & Prime Minister of Niger (ii) H.E. Dr. Abdullah Omar Nasseef, Deputy Speaker of Saudi Shoura Council & Ex-Secretary General of Rabeta Al-Islami (iii) H.E. Ahmed M. Salah Jamjoom, Former Commerce Minister of Saudi Government & (iv) Prof. Dr. Ahmad El­Naggar (Egypt) have joined


with this noble endeavor to assist the poverty alleviation of Bangladesh. SIBL has by now earned the unique position of a leading private commercial bank in Bangladesh.
1.1 SIBL Vision:

Social Investment Bank LTD started is jouney with the concept of 21st Century Islamic participatory three sector banking model: i) Formal Sector- Commercial banking with latest technology ; ii) Non- Formal Sector- Family empowerment Microcredit & Micro- enterprize program and iii) Voluntary Sector – Social Capital mobilization through Cash WAQF and others. Finally, “Reduction of Poverty Level” is our vission, which is a prime object as stated in Memorandum of Association of the Bank with the commitment “Working Together for a Caring Socity”.
1.2 SIBL Mission:

. High quality financial services with the latest technolozy.
. Fast, accurate and satisfactory customer service.
. Balance and sustainable growth strategy.
. Optimum return on shareholders’ equity.
. Intoducing innovation Islamic banking products.
. Attract and retain high quality human resource.
. Empowering real power families and create local income opportunities.
. Providing support for social benefit organizations – by way of mobilizing funds and social service.
1.3 SIBL Aims and objective:
· To conduct interest-free banking.
· To establish participatory banking instead of banking on debtor-creditor relationship.
· To invest on profit and risk sharing basis.
· To accept deposits on Mudaraba & Al-Wadeah basis.
· To establish a welfare-oriented banking system.
· To extend co-operation to the poor, the helpless and the low-income group for their economic enlistment.
· To play a vital role in human development and employment generation.
· To contribute towards balanced growth and development of the country through investment operations particularly in the less developed areas.
· To contribute in achieving the ultimate goal of Islamic economic system.
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