Mosleh Uddin Ahmed 
Managing Director, 
Shahjalal Islami Bank

The role of banks has significantly evolved from being traditional service providers focused primarily on deposits and investments (loans) to becoming comprehensive financial advisors. To ensure overall financial growth and effective wealth management for customers, modern banks typically offer a comprehensive suite of products and services. These offerings cater to a range of financial needs, from basic savings and investments to complex financial planning and wealth management strategies. Here's a breakdown of key products and services:

Various Depository Accounts: Essential accounts for everyday transactions, offering features like profit earnings through Mudaraba Savings, Mudaraba Short Notice Deposit accounts, low fees, and easy access via mobile and online banking.

Mudaraba Term Deposit Receipts (MTDRs) - Fixed Deposits: Profit-bearing time deposits that offer higher returns compared to regular savings accounts in exchange for keeping funds locked for a specified period, such as 30 days, 90 days, 100 days, 180 days, or 360 days.

Debit and Credit Cards: Payment solutions that include features like rewards, cashback, and installment payment options to enhance customer convenience and financial flexibility.

Stocks and Bonds: Direct trading services through brokerage accounts, enabling customers to buy and sell individual equities and fixed-income securities for portfolio diversification.

Lending and Investment (Credit) Services:

•         Home Investment (Mortgages): Flexible mortgage options for purchasing or refinancing homes, including fixed-rate, adjustable-rate, and profit (interest)-only loans.

•         Personal Loans: Unsecured loans for various purposes like education, home renovation, or debt consolidation, often with fixed repayment terms.

•         Various Investment (Credit) Facilities: Various revolving investment facilities like Bai-Muajjal, Bai-Salam, and Murabaha, providing customers with access to funds up to a pre-approved limit based on their creditworthiness.

Leveraging technology and digital innovation has become essential for enhancing service delivery across various industries. Through SJIPLC mobile apps, we directly deliver our services at customers' fingertips. Our mobile banking apps allow customers to check their balance, transfer funds, and pay bills without visiting a branch. Through internet banking, customers can access services, make payments, troubleshoot issues, and find information without needing direct assistance, improving customer satisfaction. By using internet and app banking, banks are providing these types of services to customers. By leveraging customer data across multiple touchpoints, companies can deliver more personalized and timely responses, enhancing customer loyalty.

With increased digital interactions, robust cybersecurity measures are crucial. Implementing technologies like multi-factor authentication (MFA) and encryption ensures data privacy and builds customer trust. Digital banking services use mobile apps, biometric security, and fraud detection to offer convenient and secure customer experiences.

By integrating these technologies, SJIPLC has been able to improve customer satisfaction, offer more innovative and responsive services, and ultimately drive growth and build a competitive edge.