The Bank was incorporated in April 1987 as a public limited company under the Companies Act of 1913, with the objective of conducting a broad spectrum of banking and financial services. Its operations are guided by the principles of Islamic Shariah, with a strict adherence to avoiding interest (usury) in all credit and trade-related transactions. The Bank was granted its certificate of commencement on April 30, 1987. Subsequently, Bangladesh Bank authorized it to operate as a banking institution from May 4, 1987, and it commenced full-scale banking activities on May 20, 1987.
