BB to keep conventional, Islamic banks separate
Bangladesh will keep conventional and Islamic banks operating separately from each other because of concern about possible violations of sharia principles, although the decision is not permanent, the central bank’s deputy governor told Reuters.
The central bank will not approve applications by conventional banks to convert themselves into Islamic ones and is barring the use of Islamic windows, which let conventional banks offer Islamic financial services provided client money is segregated.
“It is our observation that it created complications ...