Market Status: Closed
  Thursday, 21 Aug '25
   20:28:19 (BST)

Dhaka, August 17, 2025 – A triparty Memorandum of Understanding (MoU) has been signed among Chittagong Stock Exchange (CSE) PLC, IFA Consultancy Limited, a leading Shariah consultancy and advisory firm, and Adl Advisory, a Malaysia-based global Shariah advisory entity. The signing ceremony was held at CSE’s Dhaka Office.

 

The MoU emphasizes the importance of Shariah-compliant financial products and services, aiming to jointly promote and develop a Shariah-compliant product segment within Bangladesh’s capital market. This collaboration reflects the parties’ shared commitment to advancing Islamic finance and Halal investment.

 

Cooperation under the MoU will include developing Shariah index advisory services for CSE, building linkages with Malaysian regulators and institutions for knowledge-sharing, supporting the creation of Shariah-compliant product platforms, and providing consultancy on fintech innovations such as crowdfunding, robo-advisory, and digital assets, in line with Islamic principles and local regulations.

 

At the signing ceremony, the Managing Director of CSE highlighted future plans for the CSE which include among others development of Commodity Market, separate Islamic capital market, Shariah-compliant REITs (Real Estate Investment Trusts), and other Islamic funds including crowdfunding. In response, representatives from IFA Consultancy and Adl Advisory expressed their willingness to extend Shariah-compliant support in these areas.

 

The agreement was signed by Mr. M. Shaifur Rahman Mazumdar, FCA, FCMA, Managing Director of CSE, along with Mufti Abdullah Masum, CSAA, Founder and Director of IFA Consultancy Limited, and Mufti Dr. Yousuf Sultan, Founder and CEO of Adl Advisory.

 

This milestone marks a significant step towards strengthening Bangladesh’s capital market through Shariah-compliant financial solutions and international collaboration.

 

For details

Tania Begum

AM-PCR , CSE

Ph: 01760745736

 

| August 18, 2025 |