The joint meeting of the Executive Committee and Task Committee of the Islamic Banks Consultative Forum (IBCF) was held on Thursday, June 18, 2026, at the Board Room of the Head Office of Al-Arafah Islami Bank PLC. Chairman of IBCF and Al-Arafah Islami Bank PLC Khwaja Shahriar presided over the meeting.

Islamic banks in Bangladesh had been facing a dual taxation issue on investment accounts for a long time. IBCF had consistently engaged with the relevant government authorities to address the matter. Recognizing the practical implications of the issue, the National Board of Revenue (NBR) recently took steps to eliminate the dual taxation burden. On behalf of the Forum, sincere thanks and gratitude were expressed to the NBR for this timely and positive initiative.

The members present at the meeting expressed deep concern over the recent instability at Islami Bank Bangladesh PLC. The Forum observed that if such issues continue in one of the country’s most significant banking institutions, it may adversely affect the overall banking sector, particularly the growing and promising Islamic banking industry.

The meeting also decided to take initiatives to call on the Central Bank to take necessary initiatives to quickly resolve this problem as a financial institution and ensure professionalism and good governance in the banking sector.

In the meeting, the IBCF reiterated its commitment to continuous discussions and coordinated initiatives with all stakeholders to ensure the stability, transparency and sustainable development of the country’s Islamic banking sector.

Shahjalal Islami Bank Chairman Mohammad Yunus, Shahjalal Islami Bank PLC Managing Director Mosleh Uddin Ahmed, Islami Bank Bangladesh Managing Director (Acting) Md. Altaf Hussain, Al-Arafah Islami Bank Managing Director and CEO Md. Rafat Ullah Khan, Exim Bank PLC Administrator Md. Shawkatul Alam, First Security Islami Bank PLC Administrator Muhammad Badiuzzaman Didar, Union Bank PLC Administrator Mohammad Abul Hashem, Standard Islami Bank PLC Additional Managing Director Md. Siddiqur Rahman, Prime Bank PLC Additional Managing Director M. Nazim A Chowdhury, Islami Bank Bangladesh PLC Deputy Managing Director KM Monirul Alam Al Mamun, Associate Administrator of Global Islami Bank Md. Kawsar Pathan, Honorary Secretary of IBCF Nurul Islam Khalifa, Company Secretary (Acting) of Al-Arafah Islami Bank Mohammad Moniruzzaman FCA and Assistant Secretary of IBCF Jahangir Alam were present at the Meeting.