Icb Islamic Bank Limited (Bangladesh)

The Bank is engaged in all kinds of banking, financial and business activities, transactions and operations in strict compliance with the principles of Islamic Law (Shari a).
The company was incorporated on April 30, 1987 under name Al-Baraka Bank Bangladesh Limited as a Public Limited Company under the Companies Act, 1913 and under Registration No. C-16369 (355) 87 on April 30, 1987 to undertake and was quoted in Dhaka Stock Exchange in 1990.
Central Bank authorized to carry on the banking business in Bangladesh with effect from 04 May 1987 to undertake and carry out all kinds of banking, financial and business activities, transactions
and operations in strict compliance with the principles of Islamic Law (Shariah) relating to business activities in particular avoiding usury in credit and sales transactions and any practice which accounts to usury and actual banking operations commenced on 20 May 1987. Registrar of Joint Stock Companies Firms approved the revised name (The Oriental Bank Limited) on 31 December 2002 and Central Bank approval was accorded on 13 April 2003.
Switzerland based ICB Financial Group Holdings AG acquired the majority shareholdings of former Oriental Bank Limited, a Bangladeshi Shariah compliant Bank as on February 28, 2008 and changer the name of bank into ICB islamic Bank Limited.