An Impact of Banking Activities of Private Commercial Islamic Bank to Economic Development in Bangladesh: A Case Study on First Security Islami Bank Limited (FSIBL)
Journal of Investment and Management
Volume 4, Issue 5, October 2015, Pages: 264-272
Received: Jul. 21, 2015; Accepted: Aug. 10, 2015; Published: Aug. 19, 2015
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Authors
Md. Nazirul Islam Sarker, School of Business, Bangladesh Open University, Gazipur, Bangladesh
Md. Harun Or Rashid, Department of Management, University of Dhaka, Dhaka, Bangladesh
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Abstract
Banks are the most important parts of the financial system of any country. Specially, developing country like Bangladesh, proper banking system is very important and essential to play a vital role, because capital market system in Bangladesh is not advanced like other country’s capital market. The study analyses published texts, articles, websites and annual report of this bank through a content analysis. Key findings of this study manifest the contribution of this bank in different areas of economic development in Bangladesh like generating employment, earning foreign remittance, strengthening rural economy, promoting ecology and green banking, boosting industrialization, developing the SMEs, assisting in foreign trade (import-export) and developing the housing sector etc. This study also identifies FSIBL’s significant contribution to the national exchequer. This paper contributes to the field of economic development of Bangladesh and the role of FSIBL behind it and fills the gap of literature in this specific area. The study suggests that Islamic banking has a great impact on the economic development in Bangladesh
Keywords
Islamic Banking, Shariah, Bangladesh, Economic Development
To cite this article
Md. Nazirul Islam Sarker, Md. Harun Or Rashid, An Impact of Banking Activities of Private Commercial Islamic Bank to Economic Development in Bangladesh: A Case Study on First Security Islami Bank Limited (FSIBL), Journal of Investment and Management. Vol. 4, No. 5, 2015, pp. 264-272. doi: 10.11648/j.jim.20150405.28
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