Bangladesh Bank has officially announced the renaming of Standard Bank PLC to ‘Standard Islami Bank PLC’ effective February 10, 2026.

The change follows the bank's full conversion into a Shariah-compliant financial institution.

The transition reflects the continued expansion of the Islamic finance sector in Bangladesh. With this addition, the country’s banking landscape now features:

In Bangladesh, 10 banks are operating in full-fledged Islamic banking. Currently, 16 conventional commercial banks offer Shariah-compliant services through a network of over 600 dedicated windows

Additionally, 15 conventional banks maintain 30 specialised Islamic banking branches.

According to the central bank’s circular, all scheduled banks have been instructed to update their records to reflect the new name of the institution. This move is part of a broader trend where Islamic banking now accounts for over 25 per cent of total deposits in the national banking system.