Islamic Banking has been defined as banking in consonance with the ethos and value system of Islam and governed by Shariah principles.
Headed by Director, Islamic Banking Department has been working to develop a progressive, sound, and stable Shariah compliant banking system. In this regard, the department is responsible to facilitate and catalyze development of Islamic banking industry in the country through (a) enabling legal, regulatory and Shariah compliance framework, (b) promotion of Islamic finance as a distinct and competitive system to serve the financial services needs of the masses, (c) take targeted research initiatives to better explore market dynamics and (d) to collaborate with local and international stakeholders for development of competitive and innovative solutions for the diverse financing needs of the real economy. Additionally, the department is engaged in various special projects which may include sukuk related structuring, devising specific products/schemes. It also disseminates Islamic banking information through Islamic Banking Bulletin (IBB), published on quarterly basis.