Why is BANGLADESH stopping ISLAMIC BANKS? - VisualPolitik EN

Despite being one of the fastest-growing countries in the World, Bangladesh is no good place for bankers. 2 out of 3 citizens don’t have a bank account. All of this happens because Bangladesh society is heavily influenced by Islam and Sharia law does not allow to lend money with an interest. This is why Islamic Banking is becoming more and more popular in this country.
Nonetheless, the Government of Sheikh Hasina is not very happy about Islamic banks. They have already made several raids on their biggest bank, the Islami Bank. And the Bangladesh Central Bank has stopped issuing licenses to this kind of financial institutions. According to Dhaka’s government, Islamic banks might be supporting terrorism, which is a big problem in this country. But it seems they have a darker interest. Hasina, the most powerful person in Bangladesh, wants to control everything—including finance. This is why she prosecuted other bankers like Muhammad Yunus, the founder of the Grameen Bank, when he tried to start a political career.
So what is going on in this country? And, more importantly… what is Islamic banking all about and what are its main difference with Western banking? In this VisualPolitik video we will answer all of those questions.

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Interesting links:

Bangladesh Government is suspicious about Islamic Banking growth: https://www.economist.com/news/finance-and-economics/21727084-government-and-central-bank-are-both-suspicious-islamic-banking-grows
Islami bank, Bangladesh most watched bankers: https://www.forbes.com/sites/meghabahree/2016/07/05/islami-bank-bangladeshs-most-watched-bankers/#4e32841a611d
Bangladesh Islamic Banking is growing rapidly: http://www.thedailystar.net/business/banking/islamic-banking-growing-rapidly-1417531

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