Will keep some services closed for completing the migration processThe Bangladesh Bank on Thursday approved Standard Bank’s application to keep some of its banking services closed from December 30 to January 4 next year, to ease its transition into an Islamic bank from a conventional one. From early January, Standard Bank will be a bank following Shariah principles, said its Managing Director Khondoker Rashed Maqsood. The bank got the BB nod on February 9 to make the switch to Islamic banking. The temporary shutdown was approved per Section 45 of the Bank Company Act, 1991. According to the notice, the banking services will remain closed from 6 pm of December 30 until 10 pm on January 4 next year.

Source: Dhaka Tribune December 24, 2020 18:44 UTC