The Institute of Islamic Banking, Finance, and Economics (IIBFE) was inaugurated at United International University (UIU) in Dhaka on March 15.

The event, held in collaboration with the Central Shariah Board for Islamic Banks of Bangladesh (CSBIB), included a joint seminar on the sector's challenges and opportunities.

Dr. AFM Khalid Hossain, advisor to the Ministry of Religious Affairs, attended as chief guest. Special guests included Mohammad Abdul Mannan, chairman of First Security Islami Bank PLC; Prof. Dr. M. Sadiqul Islam, chairman of Social Islami Bank PLC; Md. Fariduddin Ahmed, chairman of Union Bank PLC; Dr. Md. Akhtaruzzaman, director general of the Bangladesh Institute of Bank Management; Prof. Dr. Mohammad Gias Uddin Talukder, chairman of CSBIB; and Nazmul Hasan, chairman of United Finance. UIU Vice-Chancellor Prof. Dr. Md. Abul Kashem Mia presided over the ceremony.

Prof. Dr. Mohammad Omar Farooq, Founding Director of IIBFE and Head of UIU's Economics Department, delivered the inaugural speech, while CSBIB Secretary General Md. Abdullah Sharif gave the welcome address.

Dr. Hossain highlighted the sector's challenges, including expansion difficulties and a shortage of skilled professionals, and expressed hope that the new institute would help address these issues. Special Guests discussed the role of Islamic banking in transforming Bangladesh's economy.

Following the inauguration, IIBFE-UIU and CSBIB signed a Memorandum of Understanding (MoU). The event also featured the presentation of two research papers in a technical session.

Faculty members, students, government and private sector officials, Islamic scholars, journalists, and other distinguished guests attended the event.