Community Islamic
1. Community Islamic
Shariah-Compliant Banking for Your Financial Needs
Banking with Purpose. Guided by Shariah.
Community Islamic, the Islamic Banking proposition of Community Bank Bangladesh PLC, offers Shariah-compliant financial solutions designed to meet the diverse needs of individuals, professionals, SMEs, and corporate clients. Built on ethical principles, transparency, and responsible financial dealings, we combine Shariah-based banking values with modern, convenient, and professional banking standards.
2. About Community Islamic
Islamic banking is more than the avoidance of interest (Riba)—it is a financial system rooted in Shariah principles (Fiqh al-Muamalat) that promotes fairness, genuine economic activity, and shared prosperity.
At Community Islamic, our objective is to deliver practical, customer-centric financial solutions fully aligned with regulatory requirements and Shariah standards.
Our Approach to Islamic Banking
- Shariah Integrity & Compliance: Our operations, products, and investment pools are governed under strict Shariah rules and continuous governance oversight.
- Recognized Shariah Contracts: Our solutions are structured using standard Shariah-compliant modes.
- Ethical Banking for Everyone: While rooted in Islamic principles, our transparent and responsible banking services welcome customers of all faiths and backgrounds seeking fair and ethical financial solutions.
3. Why Community Islamic?
- Shariah-Compliant Solution: Our deposit and financing solutions are structured using recognized Shariah contracts (Al-Wadiah, Mudarabah, Murabaha, Ijarah, Bai-Salam, Musharakah) tailored to meet real-world financial needs without compromising Shariah principles.
- Segregation of Islamic Funds: Islamic Banking funds are maintained and managed separately from conventional banking funds in accordance with applicable regulatory and Shariah requirements.
- Dedicated Islamic Banking Infrastructure: Our Islamic Banking operations are supported by dedicated systems and processes designed to maintain appropriate segregation, accurate profit calculation and Shariah-compliant transaction processing.
- Complete Operational Transparency: We are committed to transparency across contractual terms, profit-distribution calculations, weightage assignments, and fee structures, helping customers understand profit distribution and applicable charges.
- Modern Banking Convenience: Enjoy Shariah-compliant financial management with modern convenience. Access your accounts 24/7 through CBB PLC Internet Banking, Mobile App, nationwide ATM/CRM network, and instant SMS alerts.
- Experienced & Dedicated Specialist Team: Our operations are led by seasoned Islamic banking professionals and certified Shariah specialists dedicated to providing expert financial guidance and high-standard corporate and retail services.
- Ethical Banking for Everyone: Built on principles of fairness, equity, and genuine economic activity, Community Islamic welcomes individuals, SMEs, and corporate clients seeking transparent financial solutions, regardless of religious background.
4. Shariah Governance
Community Islamic operates under a robust Shariah governance framework overseen by the Shariah Supervisory Committee, which conducts reviews to ensure all operations, products, and investments adhere strictly to Islamic jurisprudence and regulatory standards.
Shariah Supervisory Committee
The Shariah Supervisory Committee (SSC) provides Shariah oversight for the Bank’s Islamic Banking activities in accordance with the Bank’s approved Shariah governance framework.
Mufti Abdullah Masum, CSAA
Chairman, Shariah Supervisory Committee
Mufti Abdullah Masum is a prominent Shariah scholar and Islamic finance expert with extensive experience in Shariah governance, Sukuk, Islamic capital markets and Takaful. He serves in several international and national Shariah and governance bodies, including AAOIFI, and has held advisory and Shariah leadership positions with leading financial institutions in Bangladesh and abroad. He is a Certified Shari’a Adviser & Auditor (CSAA) from AAOIFI and has advanced qualifications in Hadith and Islamic jurisprudence.
Mufti Lukman Hasan, CSAA
Member, Shariah Supervisory Committee
Mufti Lukman Hasan is a Shariah scholar, researcher and Islamic finance consultant with extensive experience in Islamic jurisprudence, Fatwa research and Shariah governance. He contributes to Islamic banking as a Shariah Board Member of financial institutions and serves with AAOIFI-related governance initiatives. He is a Certified Shari’a Adviser & Auditor (CSAA) from AAOIFI and holds advanced qualifications in Hadith, Islamic jurisprudence and Islamic finance.
Mufti Md. Ilias Hossain Emon, CSAA
Member, Shariah Supervisory Committee
Mufti Md. Ilias Hossain Emon is a Shariah scholar and consultant specializing in Islamic jurisprudence, Shariah compliance, Fatwa and Islamic financial education. He has experience in Shariah research, financial advisory and advanced Islamic jurisprudence. He is a Certified Shari’a Adviser & Auditor (CSAA) from AAOIFI and holds advanced qualifications in Fiqh, Ifta, Hadith and Islamic studies.
5. Products & Services
A. Deposit Products
Our deposit products are structured under Al-Wadiah and Mudarabah principles, according to the nature of the account.
- Transactional Account
- Al-Wadiah Current Account: Non-profit-bearing demand deposit account providing capital guarantee and convenient access for day-to-day personal and business transactions.
- Savings & Investment Accounts
- Mudarabah Savings Account: Profit-bearing savings account with profit calculated on the daily balance and capitalized half-yearly, with access to debit card, ATM and digital banking services.
- Mudarabah Short Notice Deposit (SND) Account: Designed for eligible SME and Corporate customers to manage short-term surplus liquidity while earning Shariah-compliant profit.
- Mudarabah Term & Monthly Income Deposits
- Mudarabah Term Deposit: Investment deposit with flexible tenures from 1 month to 3 years and auto-renewal options.
- Mudarabah Monthly Income Term Deposit: 1-year investment deposit providing monthly provisional profit distribution to a linked transactional account, subject to the Bank’s approved profit-distribution methodology.
- Mudarabah Savings Schemes
- Mudarabah Monthly Deposit Scheme (MDS): Monthly installment-based savings plan with tenures of 1, 3, 5, 7 or 10 years.
- Mudarabah Hajj Deposit Scheme: Dedicated savings plan with tenures of 1 to 6 years to help customers systematically accumulate funds for Hajj.
B. Financing & Investment Solutions
Community Islamic provides Shariah-compliant financing and investment solutions to meet personal, SME, corporate and trade-related financial requirements.
- Personal & Retail Finance
- Community Personal Finance: Bai-Murabaha-based financing for consumer durables, household renovation, electronics and professional equipment.
- Community Auto Finance: Diminishing Musharakah-based financing for eligible vehicles.
- Community Home Finance: Diminishing Musharakah-based financing for apartment purchase, home construction, renovation and takeover.
- Community Secured Finance: Financing secured against eligible CBB PLC deposit instruments, subject to applicable terms and conditions.
- SME & Corporate Finance
- Murabaha Local Purchase Working Capital Facility: Short-term Bai-Murabaha financing for procurement of raw materials and inventory from local markets.
- Bai-Salam Working Capital Finance: Shariah-compliant working capital solution for eligible manufacturing and agricultural businesses.
- HPSM Asset & Capital Finance: Hire Purchase under Shirkatul Melk (HPSM) financing for capital machinery, industrial plants, commercial vehicles, real estate and other eligible assets.
- Term Finance: Shariah-compliant financing for eligible business requirements.
- Project Finance: Financing for eligible projects under approved Shariah structures.
- Trade Finance & International Banking
- Import Finance
- Islamic Letter of Credit (LC)
- Murabaha Trust Receipt (MTR) & Import Bill (MIB)
- Murabaha EDF Finance, subject to applicable eligibility and regulatory requirements.
- Export & Supply Chain Finance
- Bai-Salam Packing Finance
- Musharakah Foreign Bill Finance
- Musharakah Local Documentary Bill Finance
- Non-Funded Facilities
- Islamic Bank Guarantee: Performance, Bid, Payment and Financial Guarantees structured under Shariah-compliant arrangements.
- Other Banking Services
- Debit Cards
- Digital & Alternate Channels: Internet Banking, Mobile App, ATM/CRM and SMS services.
- Remittance & Foreign Exchange Services
- Import Finance
C. Where Your Money Works
Mudarabah funds and other deposits are deployed through approved Shariah-compliant financing and investment activities in accordance with the Bank’s approved Islamic Banking framework, applicable regulatory requirements, and Shariah guidelines.
These activities may include:
- Trade Finance
- Working Capital Finance
- Asset Finance
- Home Finance
- Auto Finance
- SME & Corporate Finance
- Project Finance
- Other approved Shariah-compliant investments
7. How Islamic Banking Works
Mudarabah:
Customer Deposits → Mudarabah Pool → Shariah-Compliant Financing& Investment → Actual Profit → PSR & Weightage → Depositor’s Profit
Asset-based financing:
Customer Need → Bank Purchases/Acquires Asset → Shariah Contract → Customer Receives Asset/Usufruct → Agreed Payment
9. Schedule of Charges
10. Forms & Downloads
11. Frequently Asked Questions
What is Community Islamic?
Community Islamic is the Islamic Banking proposition of Community Bank Bangladesh PLC, offering Shariah-compliant deposit and financing solutions for eligible Retail, SME and Corporate customers.
Is Islamic Banking only for Muslims?
No. Islamic Banking is based on Shariah principles, but its ethical and responsible financial approach can be relevant to customers of all faiths and backgrounds.
What is the difference between Islamic Banking and conventional banking?
Islamic Banking operates according to Shariah principles and does not use interest (Riba) as the basis of financial returns. Depending on the product, transactions may be structured through trade, leasing, partnership or other Shariah-recognised contracts.
What is Mudarabah?
Mudarabah is a Shariah-based partnership contract in which one party provides capital while the other manages the business or investment activity. For Community Islamic Mudarabah deposits, the customer provides funds and the Bank acts as Mudarib, subject to the applicable terms and approved framework.
What is Al-Wadiah?
Al-Wadiah is a Shariah principle associated with safekeeping/trust. Community Islamic’s Al-Wadiah Current Account is designed primarily for transactional banking and is not a profit-bearing deposit product.
Does Community Islamic pay interest on deposits?
No. Community Islamic does not pay conventional interest on Islamic Banking deposit products. Profit-bearing deposits are structured under Mudarabah and profit is distributed under the applicable Shariah and regulatory framework.
What is a provisional profit rate?
A provisional profit rate is the rate used for periodic profit distribution to eligible Mudarabah depositors during the year. It is determined under the Bank’s approved profit-distribution methodology and applicable Bangladesh Bank requirements and is subject to final adjustment.
Is the provisional profit rate guaranteed?
No. It should not be understood as a guaranteed conventional return. Final profit entitlement depends on actual distributable profit and the approved profit-distribution methodology.
What is the weightage method?
The weightage method is used to determine the relative allocation of distributable profit among different categories of Mudarabah deposits according to the approved methodology and product characteristics.
Why can final profit differ from the provisional profit?
The provisional rate is used for periodic distribution during the year, while final profit is determined based on actual distributable profit. Therefore, the final entitlement may differ from the amount initially distributed.
What happens at year-end?
Actual distributable profit is determined and the amount already distributed during the year is reconciled with the final depositor entitlement. Where necessary, an annual/year-end adjustment is made under the approved methodology.
What is Murabaha?
Murabaha is a Shariah-compliant sale arrangement in which the cost and agreed profit are disclosed to the purchaser, subject to applicable Shariah requirements.
What is Ijarah?
Ijarah is a leasing arrangement under which the usufruct of an identified asset is provided to the customer in exchange for agreed rental payments, subject to the applicable Shariah structure.
What is Musharakah?
Musharakah is a partnership arrangement in which parties contribute capital and share profit according to the agreed arrangement, while loss is borne according to applicable Shariah principles.
What is Bai-Salam?
Bai-Salam is a Shariah-compliant forward sale arrangement involving advance payment for specified goods to be delivered at a future date, subject to applicable Shariah requirements.
Can businesses obtain Islamic working capital finance?
Yes. Community Islamic offers eligible working capital solutions including Murabaha Local Purchase, Murabaha Term Local Purchase, Bai-Salam Finance and Murabaha Pre-/Refinancing facilities.
Does Community Islamic offer trade finance?
Yes. The approved product range includes Islamic trade finance solutions covering import, export, documentary bill, packing finance, post-import finance, EDF-related finance, LC and Bank Guarantee facilities.
Does Community Islamic provide Home and Auto Finance?
Yes. Community Islamic offers Home Finance and Auto Finance solutions for eligible Retail customers under approved Shariah-compliant structures.