A good read for bankers

The contemporary Islamic banking activities began in 1963. For the last 60 years, the Islamic banking had significantly secured its global platform with utmost appreciation. It is not merely confined within Muslim countries but crossing the border into the non-Muslim world with red-carpet welcome. The global Islamic banking sector is the main contributor to the global Islamic financial market and thus, its asset size is USD 1.99 trillion by growing at 14% per annum. Islamic banking has 6% shares in global banking assets.
There are numerous books, articles and other researches on Islamic banking available in the market, which are mainly contributing on theories, principles, products and technicalities. Undesirably, it has simultaneously been observed that, there is a very minimum touch on challenges, solutions to problems, industrial and professional experiences, motivational tips, strategic action plan, technical know-how, SWOT analysis, impact analysis and career development with professionalism in the specialized field of Islamic banking.

In view of sustainability of Islamic banking, it is utmost essential to create an effective awareness among the practitioners, academia and other related professionals including policy-makers, decision makers and promoters with day to day challenges, industrial and professional experiences, strategic way forward and achievable action plan with smart marketing.
The initiative of Dr M Kamal Uddin Jasim, SEVP, Islami Bank Bangladesh Limited (IBBL), in sharing his professional and intellectual experiences in producing his recent book "Sharbozonin Banking Abong" is indeed timely to meet the demand of the contemporary world of Islamic banking towards a unique dimension particularly in this post-COVID New Normal digital era by waking up the academia, researchers, industrialists, professionals, policy-makers, decision makers, market forces and students as well with an effective motivation and an impact oriented direction equally in both the Islamic banking and financial industries.
It is worth noting that, this book highlights the author's industrial experiences with his uncommon techniques in debt recovery plan with successful and unprecedented track record. The book also shares the author's own smart strategies of customer services, which has paved an utmost popularity of fintech/ ADC services since 2008 from Dhanmondi Branch. Consequently this experience has significantly contributed to the modernization of Farmgate branch. Eventually that has created a glorious impact in the Business Promotion and Marketing Division of IBBL by having its multiple drives in view of transforming the traditional mechanism into a successful cashless society in the near future to add a feather to the strategies of Sustainable Development Goals (SDG).
In addition, an exclusive chapter of the book has shared an empirical experience of IBBL where its direct guidance and technical supports led by Dr Jasim, have enabled the Bank of Ceylon (BoC) to establish Islamic banking services in Sri Lanka and thus, the country is now operating its first Islamic banking services successfully under the BoC.
Though the book is judged by the brilliant efforts and genuine experiences of Dr Jasim with his talented inputs, it may be time-to-time reproduced by incorporating industrial furtherance phenomena and particularly touching on the essence and impact on Banktech with potential smart solutions.

Prof Dr Mohd Ma'Sum Billah is Senior Professor of Finance at King Abdul Aziz University, Kingdom of Saudi Arabia