Press Release
18 October, 2026, 12:45 pm
Last modified: 18 October, 2026, 12:45 pm
The Shariah Supervisory Board of IDLC Asset Management Shariah Fund approved its Shariah compliance reports for the first quarter of FY2026–27 at its 28th meeting.
The meeting was held on 14 October, 2026, with Dr Syed Muhammed Emdad Uddin chairing the proceedings, according to the press release.
Other board members present were Allama Dr Sayed Kamaluddin Abdullah Zafree, Dr M Mahabbat Hossain, Professor Mamtaz Uddin Ahmed FCMA, Dr Muhammad Manzur-E-Elahi and Mufti Dr Yusuf Sultan.
The board reviewed the fund's Shariah-based activities for July–September 2026 and approved all Shariah compliance reports. Members also discussed Shariah-based rules and guidelines governing the fund, which is managed by IDLC Asset Management Limited.
The asset manager said the fund had gained recognition in Bangladesh for offering tax benefits and returns through Shariah-compliant investments.
Its Shariah investment policy has been endorsed by Dubai-based Islamic finance advisory firm Amanie Advisors.
The company said investors could invest a fixed amount starting from Tk5,000 a month and receive a tax rebate of up to Tk7.5 lakh, calculated at 10% of an annual eligible investment of Tk75 lakh, subject to applicable tax rules and individual eligibility.
It cited eligible investment limits of Tk1.2 lakh for Mudaraba deposit pension schemes and Tk5 lakh for sukuk when comparing tax benefits.
Alongside tax benefits, the asset manager said the fund prioritised investment security through a focus on sukuk, an Islamic investment instrument widely used in economies such as Saudi Arabia and Malaysia, with the aim of generating stable and attractive returns.