BRPD Circular Letter No. 30: Providing online banking services to the customers of Islamic banking branches and windows at Conventional branches and sub-branches

Bangladesh Bank
Chief Controller
Motijheel, Dhaka-1000
Bangladesh
Ref No.: BRPD/Policy-1/2009-2010/127
Banking Regulation and Policy Department
BRPD Circular Letter No.-30
08 July 2024
Date: ----------------
24 Asharh 1431
Managing Director/Chief Executive Officer
All Scheduled Banks operating in Bangladesh
Dear Sir,
Re: Providing online Islamic banking services to the customers of Islamic banking branches and windows at Conventional branches and sub-branches.

1. Reference is drawn to the Guidelines on Islamic Banking Services issued by Bangladesh Bank through BRPD Circular No.-15 dated: 09 November 2009.

2. The aforementioned guidelines provide necessary instructions for the operation of Islamic banking programs by Islamic banks and the Islamic banking branches of conventional banks. Now, to further expand Islamic banking programs and reach customers, the customers of the bank's Islamic banking branches/windows may operate the following online Islamic banking programs at conventional branches and sub-branches:

(1) There must be an Islamic banking help desk at branches and sub-branches to provide Islamic banking services to customers; (2) Trained and experienced staff must be posted at the Islamic banking desk; (3) Through the Islamic banking desk, online financial transactions or the facility of deposit, withdrawal, and transfer for customers of the bank's approved Islamic banking branches/windows only, as account holders, may be provided; (4) A separate 'Islamic Core-Banking' software must be used to operate Islamic banking programs; (5) Islamic banking transactions will be conducted through the general account (Current Account) maintained at the Islamic banking branch; (6) Funds in the general account maintained at the Islamic banking branch will not be used for conventional banking programs; (7) No program related to opening customer accounts and investments may be conducted through the Islamic banking desk; (8) In the operation of online Islamic banking programs through the Islamic banking desk, branches must display 'Online Islamic Banking Services Provided' banners/signboards/posters/festoons at prominent locations.

3. These instructions are issued under the powers conferred by Section 45 of the Bank Company Act, 1991.

4. These instructions will come into force immediately.

Yours faithfully,
(Mohammad Shahriar Siddique)
Director (BRPD)
Phone-9530252