Shahjalal Islami Bank
Shahjalal Islami Bank is a Bangladesh-based Shariah-compliant private-sector commercial bank headquartered in Dhaka.
Last updated August 31, 2026
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Overview
Shahjalal Islami Bank PLC is a private-sector commercial bank in Bangladesh operating under Islamic banking principles. The institution was incorporated on May 10, 2001, and is headquartered in Dhaka. Its brand identity is built around Shariah-compliant banking, distinguishing it from conventional commercial banks through the use of Islamic finance structures and terminology. The available reference material identifies the bank as a domestic Bangladesh banking institution rather than an international banking group. The bank’s activities include commercial banking and related financial services, although the supplied reference material does not provide a complete current product catalogue, branch count, asset profile, or geographic network. Its corporate social responsibility activities are associated with the Shahjalal Islami Bank Foundation, which functions as the bank’s CSR unit. The existence of this foundation indicates that community and social-development initiatives form part of the institution’s public-facing corporate identity. Governance has changed repeatedly over the bank’s history. Chairman and vice-chairman appointments recorded in the reference material show participation by business figures associated with manufacturing, healthcare, trading, hospitality, paper, cold-storage, and other enterprises. AK Azad, managing director of Ha-Meem Group of Companies, was elected chairman in February 2024 and re-elected in January 2025. Mohammed Younus and Mohiuddin Ahmed were identified as vice-chairmen in those later appointments. The reference material also records M Shahidul Islam’s appointment as managing director in October 2018, but it does not establish whether he remained in that role subsequently. Shahjalal Islami Bank has also faced significant legal and reputational issues. Bangladesh’s Anti-Corruption Commission brought cases involving alleged embezzlement, fraudulent letters of credit, and allegedly problematic loans involving former directors, officers, borrowers, and other associated parties. The reference material also states that the bank was used in alleged money laundering connected to the activities of Prashanta Kumar Halder. These matters are allegations and legal proceedings rather than findings that every named person was guilty; the supplied material does not provide final judicial outcomes. Overall, Shahjalal Islami Bank is best understood as a domestic Bangladeshi Islamic banking brand whose identity combines Shariah-compliant commercial banking with a formal CSR foundation. Its public history is marked by recurring changes in board leadership and scrutiny from anti-corruption authorities. Detailed information about its current executive management, financial performance, ownership, listed status, product architecture, and present operating footprint is not established by the supplied sources.
History
Shahjalal Islami Bank was incorporated in Bangladesh on May 10, 2001. It was established as a private-sector commercial bank operating according to Islamic banking principles and later became known as Shahjalal Islami Bank PLC. The institution is headquartered in Dhaka and serves the domestic Bangladesh market. Its corporate social responsibility work is conducted through the Shahjalal Islami Bank Foundation. The bank’s board leadership has changed several times. In 2011, Anwer Hossain Khan was elected chairman, with Md Harun Miah and Khandoker Sakib Ahmed serving as vice-chairmen. In 2012, Bangladesh’s Anti-Corruption Commission sued former vice-president Sayed Hassan Imam and five others in connection with alleged embezzlement. In 2014, the commission arrested director and former chairman Mohammed Solaiman over allegations concerning large loans to Joynob Steel, SK Steel, and Paradise Corporation. A separate allegation that year also concerned the misappropriation of approximately 1.49 billion taka. In 2015, the Anti-Corruption Commission sued Bismillah Group managing director Khaza Solaiman Anwar Chowdhury, four bank employees, and other defendants over alleged embezzlement. That year AK Azad became chairman, with Mohammad Younus and Md Abdul Barek as vice-chairmen. In 2016, former deputy managing director Md Monjerul Islam and four others were charged in a case involving alleged embezzlement through fictitious letters of credit. Akkas Uddin Mollah became chairman in January 2018. M Shahidul Islam was appointed managing director in October of that year. Khandoker Sakib Ahmed and Mohammed Golam Quddus were elected vice-chairmen. In January 2021, Md Sanaullah Shahid was re-elected chairman, with Md Harun Miah and Md Abdul Barek as vice-chairmen. The reference material also states that Prashanta Kumar Halder used the bank in connection with alleged money laundering related to his embezzlement activities. Mohammed Younus became chairman in January 2022, with Mohiuddin Ahmed and Mohammed Golam Quddus as vice-chairmen. In February 2024, AK Azad was elected chairman again, and Mohammed Younus and Mohiuddin Ahmed were re-elected vice-chairmen. The January 2025 board appointments again identified AK Azad as chairman and Mohammed Younus and Mohiuddin Ahmed as vice-chairmen. The available material does not establish the bank’s current managing director, financial scale, detailed product range, ownership structure, stock-market status, or final outcomes for the corruption-related cases. Allegations and charges described in the historical record should not be treated as proof of criminal liability without corresponding court findings.
- 2025
AK Azad re-elected chairman
[1]AK Azad was re-elected chairman, while Mohammed Younus and Mohiuddin Ahmed were re-elected vice-chairmen.
- 2022
Mohammed Younus becomes chairman
[1]Mohammed Younus was elected chairman, with Mohiuddin Ahmed and Mohammed Golam Quddus as vice-chairmen.
- 2018
New chairman and managing director
[1]Akkas Uddin Mollah became chairman and M Shahidul Islam was appointed managing director.
- 2011
Board leadership changes
[1]Anwer Hossain Khan became chairman, with Md Harun Miah and Khandoker Sakib Ahmed elected vice-chairmen.
- 2001
Incorporation
[1]Shahjalal Islami Bank was incorporated on May 10 as a Bangladesh private-sector Islamic commercial bank.
Products and positioning
A Bangladesh-focused private commercial bank positioned around Shariah-compliant banking and Islamic financial services.
Commercial banking · 2001
Islamic commercial banking
The bank’s core offering is commercial banking conducted in accordance with Shariah principles. The supplied source identifies the institution as a Shariah-compliant private commercial bank, but does not provide sufficient detail to describe specific account names, financing contracts, fees, or eligibility conditions.
Corporate social responsibility
Shahjalal Islami Bank Foundation
The Shahjalal Islami Bank Foundation serves as the bank’s corporate social responsibility unit. The supplied material confirms its institutional role but does not specify a complete list of programs, beneficiaries, budgets, or current initiatives.
Controversies
2021
Alleged use in money laundering
The reference material states that Prashanta Kumar Halder used Shahjalal Islami Bank in connection with alleged money laundering arising from his embezzlement activities.
2016
Alleged fictitious-letter-of-credit fraud
Former deputy managing director Md Monjerul Islam and four others were charged over alleged embezzlement of approximately 2.5 billion taka through fake letters of credit.
2015
Bismillah Group embezzlement case
The Anti-Corruption Commission sued Bismillah Group managing director Khaza Solaiman Anwar Chowdhury, four bank employees, and other defendants over alleged embezzlement of approximately 1.1 billion taka.
2014
Alleged loan-related embezzlement involving former chairman
Mohammed Solaiman, described as a director and former chairman, was arrested over allegations involving approximately 1.4 billion taka in bad loans connected to Joynob Steel, SK Steel, and Paradise Corporation. The same year, a separate allegation concerning approximately 1.49 billion taka was reported.
2012
Alleged embezzlement case involving former vice-president
The Anti-Corruption Commission sued former vice-president Sayed Hassan Imam and five others over alleged embezzlement of 131.7 million taka from the bank.
Recent events
- 2025
AK Azad re-elected chairman[1]
Leadership change
AK Azad was re-elected chairman, while Mohammed Younus and Mohiuddin Ahmed were re-elected vice-chairmen.
- 2024
AK Azad elected chairman again[1]
Leadership change
AK Azad returned as chairman, with Mohammed Younus and Mohiuddin Ahmed re-elected as vice-chairmen.
- 2022
Mohammed Younus elected chairman[1]
Leadership change
Mohammed Younus was elected chairman, while Mohiuddin Ahmed and Mohammed Golam Quddus became vice-chairmen.
- 2021
Md Sanaullah Shahid re-elected chairman[1]
Leadership change
Md Sanaullah Shahid was re-elected chairman, with Md Harun Miah and Md Abdul Barek re-elected vice-chairmen.
- 2018
Akkas Uddin Mollah elected chairman[1]
Leadership change
Akkas Uddin Mollah became chairman, and M Shahidul Islam was appointed managing director later in the year.
- 2015
AK Azad elected chairman[1]
Leadership change
AK Azad, chairman of Ha-Meem Group, was elected chairman, with Mohammad Younus and Md Abdul Barek elected vice-chairmen.
- 2011
New chairman and vice-chairmen elected[1]
Leadership change
Anwer Hossain Khan was elected chairman, while Md Harun Miah and Khandoker Sakib Ahmed were elected vice-chairmen.
Sources1 sources
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