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The Islamic Development Bank (IDB) is reviewing the government's recent measures on the Padma Bridge Project to take a decision on revival of its committed funding support for it. As part of the original deal, it was supposed to to provide US$ 140 million for the approach road on the bridge's Jajira side. The ministry of finance is hopeful of getting the fund from the lender. However, IDB is observing what steps the government takes on the main bridge construction and river training work. So far, the project has not yet matured enough for IDB to reconsider its decision on it.

The 2nd Joint District Judge Court, Dhaka has given its verdict on Social Islami Bank Ltd's plea to dispose off the entire shares and delist the names of Islamic Charitable Society and Shahir Abdulraouf Batterjee from the bank's Share Register Book. The order depicts that the Islamic Charitable Society and Shahir Abdulraouf Batterjee being banned and non-existent entity, and hence, SIBL is entitled to sell the aforesaid shares and deposit the sale proceeds thereof in the special reserve account / suspense account. The Court also empowered SIBL to delete the names of both Islamic Charitable Society and Shahir Abdulraouf Batterjee from the bank's Share Register Book after selling of the aforesaid shares.

Al-Arafah Islami Bank Ltd has provided scholarship worth more than Tk 1.85 million to the poor and meritorious students of Kurmitola High School recently under its corporate social responsibility activities. Chairman of the Bank Badiur Rahman handed over the scholarship cheques to the students. The ceremony was addressed by founder Chairman of the Bank Alhajj A Z M Shamsul Alam among others.

Speakers at the seminar titled "Agriculture and Micro Insurance: Experience in Afro-Asian Region" discussed the need for Shari'ah-compliant financial services, including Takaful insurance. One speaker said that many poor Muslims are financially excluded because of both involuntary and voluntary reasons. Therefore, providing Shari'ah-compliant financial services is needed to accelerate financial inclusion. At the same session, the speakers also discussed about how Takful (Islamic) insurance can solve challenges in the micro-insurance sector.

The Dhaka Stock Exchange (DSE) is planning to introduce an 'Islamic Shariah Index' to increase investment of Islamic Shariah-based banks in the stock market. A meeting was held with the representatives of Islami Bank Bangladesh in order to prepare a guideline for its introduction. According to DSE president and coordinator of the Stock Market Coordination Committee Rakibur Rahman, the DSE is also talking with the Standard and Poor's (S&P) for introduction of the new index.

Islamic 'Sukuk' could be an alternative source of financing for constructing Padma Bridge. A day-long international conference on Islamic finance, titled 'Islamic Finance news Roadshow' held Tuesday in the city discussed on the issue. Moreover, key issues pertinent to the country's Islamic financial market and its challenges and opportunities were addressed. The growth potential for Bangladesh's Islamic finance industry is high, and coupled with a steadily growing economy and financial reforms.

From the beginning the Islamic non-governmental organisations, cooperatives and microfinance institutions have been encountering numerous challenges. The principal challenge is Funding Islamic microfinance programme. A huge fund is required for covering the poor living below the poverty line. Resulting from the lack of fund, many Islamic NGOs, MFIs and cooperatives have not succeeded in reaching the poorest of the poor. Donors and developing agencies usually demonstrate almost no interest in funding Islamic NGOs-MFIs because of their misconception about Islamic views towards empowerment of women and modernisation. Thus, Islamic microfinance is yet to expand its country-wide outreach effectively in order to be provided with a fund from national and international Islamic donors and development agencies.

Islamic microfinance (IM) continues its development into a very popular mechanism for alleviating poverty, especially in developing countries. The expected growth of the Islamic microfinance industry is over $2.0 billion in 2012. Its ethical principles and prohibition of riba cause a continuous growth in this sector. According to the principles of Islam, which lay the basis for IM, investors in IM projects only take part in halal projects, thus benefiting the community to a large extent. An example of such a project is the charity based zakat.

Concepts of corporate social responsibility (CSR) and its practices in Bangladesh have a long history of philanthropic activities from time immemorial.

In general, it is true that in Bangladesh, the status of labour rights practices, environmental management and transparency in corporate governance are not satisfactory, largely due to poor enforcement of existing laws and inadequate pressure from civil society and interest groups like consumer forums.

A focus on CSR in Bangladesh would be useful, not only for improving corporate governance, labour rights, work place safety, fair treatment of workers, community development and environment management, but also for industrialisation and ensuring global market access.