The Islamic Bank has issued a statement in response to recent media reports titled "The Condition of Shariah-Based Banks Has Worsened".
Issued on 1 July, the statement said the information published regarding Shariah-based banks is an attempt to cast doubt on the Islamic banking system among the public.
It said the Islamic Bank, which holds the highest deposits in the country’s banking sector, has distributed its investments following the guidelines of the central bank.
"The claim that Islamic banks are continuing aggressive lending is entirely speculative. Recently, Islamic banks have not made any significant investments. Most of the distributed investments are in agriculture, small, and SME sectors. Islamic Bank’s SME investments account for 23 percent of its total investments and 11 percent of the country’s total SME investments. In the agricultural sector, Islamic Bank’s investments comprise approximately 2 percent of its total investments, with a market share of 7.10 percent," the statement added.
The bank said the statements regarding staffing are also incorrect. Recently, probationary officers and field officers have been recruited following proper procedures. The bank recruits personnel as per the requirements and in compliance with human resource management rules.
Islami Bank said it strongly protests the news and hope that everyone will act more responsibly when reporting on a growing and trusted system like Islamic banking.
