Islami Bank is a financial institution whose status, rules and procedures expressly state its commitment to the principles of Islami Shariah and to the banning of the receipt and payment of interest on any of its operations. This definition is adapted by O.I.C. later on it has become the standard definition of Islami Bank. To run smoothly an Islami Bank is to handle its operations through its management.
By the term management is meant to execute a plan properly and fruitfully through some laid down priceless by a group of responsible peoples, appointed in an institution. It is meant acting according to rules to attain the object in a disciplined way, In the context of if Islamic Banking, it can be expressed to establish socio-economic justice in every sphere of economic transactions. A well-disciplined prudent group of people shall work and bring a developmental change rapidly withstanding the attacks of all types of “ Jahiliat” i.e. exploitations, usury, oppression & suppression etc. Islami Bank Bangladesh Ltd. from its inauguration in the year 1983, is playing a vital role for the achievement of the above mentioned object efficiently. In a nut shall IBBL is in the field of struggle to establish” Islamic Economics.”
The management of IBBL is constituted of 4 (Four) wings viz. ( a) Board of Directors (b) Shariah council (c) Executive committee (d) Management committee.
a) Board of Directors : The board of directors approves all the basic decisions and it is the highest authority of the bank. It can be compared to a legislative assembly of a country.
Shariah council : Shariah council is the organization of the qualified wise and intellectual’s whose function is to analysis all the operations of the bank whether strictly abiding by the Shariah or nor and to advise with effective suggestions to follow the Shariah. In a word it can be expressed by the word “Darul Ifta”.
b) Executive committee : Executive committee...