Islamic banking agent's deposits surpass Tk20,000 crore mark in milestone achievement
Islami Bank Bangladesh PLC, a prominent player in the Islamic banking sector, has been making significant strides in expanding financial inclusion through its agent banking services. The bank, with over 2,791 agent outlets spread across 472 upazilas, primarily in remote rural areas with limited conventional banking, serves more than 5.3 million customers[1].
This extensive network has been instrumental in bridging the gap between formal banking and rural populations, enabling them to access savings accounts, loans, remittances, and other financial services. As a result, the bank has helped reduce financial exclusion and stimulate economic activities in rural areas[1].
One of the key aspects of Islami Bank's agent banking services is their role in microcredit and SME financing. The bank supports over 1.7 million marginal families through microcredit facilities and is recognised as a leading SME financier in Bangladesh, financing over 2 million entrepreneurs[1]. These initiatives foster entrepreneurship and support small businesses, contributing to local economic development[1].
Islami Bank's agent banking services have also been a significant contributor to job creation and entrepreneurship. The bank claims to have created over 1 crore jobs through various initiatives, which significantly impacts rural economic growth[1].
Remittance services form another crucial aspect of Islami Bank's agent banking services. In 2024, the bank collected Tk15,352 crore in remittances through its agent banking services, representing over 54% of the sector's total remittance inflows[1]. These remittances are essential for the economy, especially in supporting families and boosting local spending and investment in rural areas[1].
Despite these achievements, challenges such as ensuring the sustainability of these services and expanding them to more remote areas remain. Future strategies could include enhancing digital capabilities within the agent banking network to reach more customers and improve service delivery in rural areas.
Islamic Bank attributes its success in the agent banking sector to its strong Shariah-compliant deposit management, commitment to financial inclusion, trusted local agents, modern technology, and cost-effective service delivery[1]. The bank's daily transactions average over Tk1,000 crore, and it has collected over Tk20,000 crore in deposits through its agent banking services[1].
By June 2025, remittance collections through Islamic Bank's agent banking network reached Tk8,984 crore[1]. Nearly half of the customers served by Islamic Bank's agent banking network are women, and most of them reside in rural areas[1]. These agent banking outlets are supervised by branch offices to ensure quality service, financial security, and customer trust[1].
In conclusion, Islami Bank's agent banking services have been pivotal in enhancing financial inclusion and contributing to rural economic growth in Bangladesh by providing essential financial services to underserved communities.
- The role of technology in Islami Bank's agent banking services has been essential, enabling the bank to reach more remote areas and improve service delivery, contributing to its daily transactions averaging over Tk1,000 crore.
- The banking-and-insurance sector and finance industry have witnessed a transformation with Islami Bank's agent banking services, as they have played a significant role in SME financing, supporting over 2 million entrepreneurs in Bangladesh.
- Islami Bank's agent banking services have not only expanded financial inclusion but also positively impacted the lifestyle of rural populations by providing access to savings accounts, loans, remittances, and other financial services, stimulating economic activities in those areas.
