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EDITORIAL MONdAY, JUlY 30, 2018 4 Acting Editor & Publisher : Jobaer Alam Telephone: +8802-9104683-84, Fax: 9127103 e-mail: editor@thebangladeshtoday.com Monday, July 30, 2018 Making Bangladesh number one in global RMG trade I t is a great tribute and recognition of our RMG workers and a show of respect to the souls of departed RMG workers of Rana Plaza and Tajreen Garments. Bangladesh now stands a unique opportunity of achieving the number one RMG band in world market if it can successfully carry out some ongoing reforms of improving working environment of RMG. It will be another milestone Bangladesh can achieve on the way of achieving mid income country status by 2021. Cheap but hard working honest labour, cheaper gas and power helped develop Bangladesh grow in to a preferred brand of ready Made Garments (RMG) in the world market. In our usual visits to shopping malls in Northern America, Western Europe, Middle Eastern countries and even in Australia we come across made in Bangladesh quality garments products almost everywhere. But some incidents of fire and building collapse with special mention of Tajrin Garments and Rana plaza dented Bangladesh Garment sector reputation quite a bit. But as far as competitiveness and quality Bangladesh RMG is still number two band just behind China in world market. With China intending moving out of low end RMG products gradually, Bangladesh stands a huge opportunity of claiming the Number One band if we can make some very critical reforms and upgrading of our RMG industry. Let us try to assess what are the present challenges and what needs to be done? Some quarter believes USA suspending GSP from Bangladesh RMG will cause major impediments. But the continued growth of RMG export even after US withdrawal of GSP proves the apprehension wrong.USA is only part of Bangladesh market > of RMG. Bangladeshi RMG is still enjoying preferred brand advantage in EU Countries ,Canada , Eastern European countries and in some Middle eastern countries. Veteran politician and Commerce Minister Tofael Ahmed led Commerce Ministry is also endeavoring to implement several reforms in Garments sector and is expecting USA to withdraw the suspension in not too distant future. The important state visit of PM Hasina to China among other milestone achievements of potential China Bangladesh cooperation and collaboration has also achieved a major stepping stone in RMG sector. Bangladesh and China have agreed on setting up modern self-contained garments village on the outskirts of Dhaka city at Gazaria. In addition to that China will have an exclusive Chinese industrial zone where Chinese investors will also set up export oriented RMG factories and products will be exported as Bangladesh brand. Even the Japan visit has also opened avenues of Japanese investors making Bangladesh their preferred locations for setting up industries including RMG. There is no denial that enabling environment for RMG and competitive edge of Bangladesh RMG in world market led to mushrooming of RMG industry of RMG factories in the city centers of Dhaka and Chittagong cities and suburbs. Many foreign nationals working in Bangladesh RMG sector hardly cared for providing minimum working environment and facilities of low earning RMG workers. After a few hiccups present government is desperately trying to address the issues of RMG sector bringing discipline and creating accountability. In the recent past high powered committees have conducted surveys and auditing and implementation process of their recommendation is in place. For better control and management all RMG factories from the heart of the major city centers should be phased out and relocated to properly planned RMG villages having better organized and reliable utility services , world class safety and security arrangements , accommodation , health care facilities of RMG workers. Minimum wages and fringe benefits must be reviewed. RMG workers getting at least US$ 250-300 will not cause much reduction of profits of huge earning of RMG owners. For security and safety of RMG workers and the industry a special police unit as RMG Police or in a larger concept Industrial police unit can be created. It may have a sub unit named RMG Intelligence unit for surveillance of possible subversive activities in our RMG industry. All foreigners working in RMG must have valid work permits and their records must be maintained and monitored. We must appreciate the RMG boom has done a great work in our poverty alleviation as a special section of village girls are now self-dependent and supporting their families as well. They must get due respect from society. Facilities like day care center, community clinic, adult education etc can be set up in the special garments village for them. SajibWazed IT adviser of PM Hasina is in a mission of digitizing different key sectors of Bangladesh. One of his prime objectives must be digitizing RMG sector which is major revenue earner for Bangladesh. Let all RMG factories be digitalized and reliable database created and preserved of all RMG related data and information. This will enable centralized monitoring of all RMG related business and commercial operations including safety and security. The information among others must include data base of all workers and executives working in RMG including their nationality, salary and benefits. Some officials of each RMG must be trained to introduce IT facilities in each RMG. Bangladesh Foreign missions and Ministry of Foreign affairs must work to promote to expand RMG market access in countries which may be potential new buyers. Government may consider a preferential special pricing of gas and electricity for export oriented RMG factories and Tax holidays and other benefits for modern RMG units for a given time. Bank loans of easier terms should be considered as incentives for owners for relocating the RMG from existing locations to properly set up RMG villages. Export credits and other facilities may be thought of. Also government can encourage investors in setting backward and forward linkages of RMG industries for achieving more self-reliance. Opportunities have emerged for Bangladesh in achieving number one RMG branding now. We must grab it with both hands. Let China, Korea, Japan be our partners in progress in achieving this dream. The foundations of today's international relations were laid in the 17th century, following the European wars of religion, which lasted 80 years, killed eight million people, and were ended by a series of peace treaties known together as the Peace of Westphalia. The three principles of the Peace of Westphalia are sovereignty, noninterference, and the international legal equality of states. The concept of international relations in the modern world was based on these three principles, and even though they did not always succeed in ending conflicts, they remained a reference. One of the three principles' advocates in the region is the Arab League's secretarygeneral Ahmed Aboul Gheit. He believes that respecting these principles would end the ongoing conflicts that have mostly arisen from regional and foreign interventions. By going back to a previous article I had written on the policy of US President Donald Trump's administration, we can understand his policy to a certain extent through these concepts, as they are closer to the reasoning of the right wing of the Republican Party. President Trump has more than once criticized what he calls "the influence of international organizations," including the United Nations and its agencies. He also objects to international agreements, such as those made by the World Trade Organization (WTO), which he considers a form of interference in, or contradiction with, his country's policies. For this reason, Trump has withdrawn from UNESCO and most of his country's commitment to the Paris Agreement on climate change, cut the US contribution This week witnessed a big victory for the people of Pakistan: a victory for democracy. This despite the fact that there were many conspiracies against Pakistan and there were eight deadly terrorist attacks within only 20 days before this Wednesday's elections. Domestic and international forces were engaged in sabotaging the elections and derailing Pakistan's democratic journey. But the brave people of Pakistan defeated all of these enemies. Pakistan is a democratic country and every five years there are general elections where the people choose their government by free and fair voting. A country of 220 million, it has diversified political parties. There are around 200 parties, though some of them are very small and their existence may be negligible. Throughout the history of Pakistan only s few big parties have played major roles. The official results have not been announced yet, but Pakistan Tehreek-e- Insaf (PTI) appears to be ahead of all other parties. It is likely that PTI will form the next government and rule the country for the next five years. Imran Khan is the chairman of the PTI and likely to be the prime minister of Pakistan. In Pakistan's parliamentary system, the elected prime minister is the leader of the country, while the president is a ceremonial head of state only. This is similar to the British system and is followed by many former British colonies or member states of the Commonwealth of Nations. Imran Ahmed Khan Niazi was born in Mianwali, Punjab province, on November 25, 1952, to Ikramullah Khan Niazi Shermankhel and Shaukat ABdUlRAHMAN Al-RASHEd to some UN refugee agencies, and quit the UN Human Rights Council. Those who disagree with Trump believe the US has a greater political and moral responsibility, as a superpower, to manage the world. They also believe the principles of the Peace of Westphalia, written 400 years ago, are no longer valid given the enormous changes brought about by technology and geopolitical shifts. Most importantly, however, he is threatening to reconsider the US involvement in NATO. Washington currently pays for a huge chunk of NATO's budget - about $650 billion, more than twice the amount spent on defense by the other 27 NATO countries combined. Trump is seeking more say for Washington in NATO, and asking other NATO member states -including Germany - to spend more on defense, and make more combat contributions. Following the same pattern, and in the same sense, the US president is about to destroy the North American Free Trade Agreement (NAFTA), refusing any US commitments to it. Thus, we must understand the current US administration through its general conduct, as well as its statements and Khanum (Burki). A quiet and shy boy in his youth, Khan grew up in a family with four sisters, he being the only son. Although his family settled in Lahore, he still considers his background Pathan, according to his autobiography. Imran attended Aitchison College and the Cathedral School in Lahore until he finished middle school, then entered the Royal Grammar School in Worcester, England, before completing his formal schooling with an undergraduate degree in economics from Keble College, Oxford. While at university, he was the captain of the Oxford University cricket team in 1974. He and his mother, Shaukat Khanum, come from a cricketing family. He is the finest cricket player Pakistan has ever produced. He played Test cricket for Pakistan, and earned the World Cup for Pakistan in 1992. PTI was founded on April 25, 1996, in Lahore. The party won its first seat in Parliament during the 2002 elections, when Imran Khan won the National Assembly seat for Mianwali in his home district. The stated goal of its founder JUMANA Al TAMIMI policy in the Arabian Gulf, in particular, and in the Middle East in general. Trump is treating the GCC countries the same way he is treating America's closest neighbors, Canada and Mexico, as well as its leading ally Germany. Furthermore, he would not accept that Turkey and Qatar buy the Russian S-400 missile system because he believes this would give Moscow increased political influence and finance its military technical capabilities. Trump's administration also disagrees with Obama's administration - and the Democratic Party in general - on mixing politics with human rights, and considers it an interference in a matter that does not concern it, and thus contradicts the first principle of the Peace of Westphalia that governs international relations between nations. As I mentioned in my previous article about Trump, his administration's policy has five pillars, among which are strengthening his country's economy, and facing its competitors. He believes Europe is living off the benefits of the Second World War and dares European countries to adopt full free trade. On the other hand, he accuses China of exploiting his country's flexible Imran Khan is to ensure justice for all, as he believes that a just society has the best chance to succeed. At the core, PTI just wants to make sure that we Pakistanis as a nation are the best version of ourselves and able to make a name for ourselves in this world. Khan believes that Pakistan is a very special country, full of natural resources and full of earnest and intelligent people. He is committed in bringing political stability through credible democracy, transparency in government and accountability of leadership. PTI believes in pursuing a foreign policy based on a nationalist agenda, which it believes will safeguard all of Pakistan's national interests and promote greater regional cooperation. The party aims to forge stronger relationships with neighboring countries, but not at the cost of Pakistan's national sovereignty or territorial integrity. PTI hopes to restore Pakistan's economic and political sovereignty after coming to power. The party would make the Kashmir issue a top priority and China ties offer reciprocal lessons investment system to transfer knowledge, steal advanced technology, and threaten America's standing. Of course, many do not agree with Trump; however, his deeds, if not his direct speech, are an expression of his party's stances - its right wing, in particular. Those who disagree with Trump believe the US has a greater political and moral responsibility, as a superpower, to manage the world. They also believe the principles of the Peace of Westphalia, written 400 years ago, are no longer valid given the enormous changes brought about by technology and geopolitical shifts. The surge of migration as a result of civil wars, hunger, and economic mismanagement may, indeed, justify NATO's military intervention or the World Bank's economic intervention. As a president, Trump does not necessarily reflect his personal views on the world around him, but mostly reflects the views of the party that brought him to the White House. Before he became president, Trump was known as an international investor based in New York, and as such, dealt with immigrants and foreign investors. Trump as an administration, the government as institutions, and the party are all behind the dramatic changes in US foreign policy, which does not have the same appreciation for organizations and alliances created after the Second World War. As for Iran, Trump treats that country as a threat to US interests. He believes Iran must remember its size when dealing with a superpower, and expects his European and Arab allies to share with the US responsibility on this issue. Source : Arab news Pakistan witnesses a victory for democracy More and more Chinese are learning Arabic. It was one of those facts that stayed with me after a trip to the Chinese capital of Beijing. But it should come as no surprise since thousands of Chinese are already living and working in Arab countries. Perhaps, the bigger surprise was to see many Arabs, mainly from northern African countries, fluently speaking Mandarin. Language plays a key role in relations between nations and people, particularly in matters of economy and trade. The interest in each other's language is only natural since China and the Arabs are reviving their historic ties and that will provide more opportunities for cooperation across several sectors. Chinese President Xi Jinping's visit to the UAE week before last was a milestone and it gave a big boost to relations between the Gulf state and the Asian giant. Trade is one of the cornerstones of the relationship. Some years back, China had launched an initiative to revive the ancient Silk Road that helped transport silk and other products to the West. The new venture, known as the Belt and Road Initiative Why is Trump attacking his allies? Most importantly, however, he is threatening to reconsider the US involvement in NATO. Washington currently pays for a huge chunk of NATO's budget - about $650 billion, more than twice the amount spent on defense by the other 27 NATO countries combined. Trump is seeking more say for Washington in NATO, and asking other NATO member states -including Germany - to spend more on defense, and make more combat contributions. aims to provide connections to Europe, Africa as well as other parts of Asia. Arabs too are part of the plan, and the UAE has signed up to it. Besides language that helps in trade, the Chinese and Arabs can learn much more from each other. Economic ties would facilitate an exchange of cultures and habits. Each side can adopt practices that would be beneficial to them. The ability of the Chinese to work for long hours and their strong will to succeed are qualities that the Arabs could inculcate into their culture. On the other hand, the Chinese can look at the way Arab hospitality helps in fostering better ZAMIR AWAN At the core, PTI just wants to make sure that we Pakistanis as a nation are the best version of ourselves and able to make a name for ourselves in this world. Khan believes that Pakistan is a very special country, full of natural resources and full of earnest and intelligent people. He is committed in bringing political stability through credible democracy, transparency in government and accountability of leadership. friendships and stronger trade ties. During my recent to visit Beijing, I was amazed at the number of stores and shops that remained open even on Sundays. The Chinese official accompanying us said: "Of course, Chinese are hardworking people." Some reports say that the Chinese work between 2,000 to 2,200 hours out of Some years back, China had launched an initiative to revive the ancient Silk Road that helped transport silk and other products to the West. The new venture, known as the Belt and Road Initiative aims to provide connections to Europe, Africa as well as other parts of Asia. Arabs too are part of the plan, and the UAE has signed up to it. 8,736 hours in a year. This is the equivalent of working between five-anda-half to six hours every day for 365 days a year. This means between 38.5 and 42.5 hours a week. And it does not include annual leave. The British, according to United Nations agencies, work 1,677 would try and solve the issue permanently so that Pakistan no longer has any border or territorial disputes with any of its neighbors. It is believed that during the tenure of PTI, Pakistan will regain its international reputation and will be a contributor to peace, harmony and development globally. Khan is against corruption and the status quo. He firmly believes in merit and is totally against nepotism. He is supported by Pakistani intellectuals in the fields of economics, science and technology, health, education, environment, industry, agriculture and others. It is expected that he will rule the country with better governance than in the past and Pakistan may emerge as a rapidly growing economy. PTI values the traditional friendship between Pakistan and China. Under the instruction of its chairman Imran Khan, PTI has established a "Pakistan-China Cooperation Unit," which will enhance the two countries' strategic cooperative partnership, especially in the domains of economy, trade and technology. Khan has appointed Dr Shahzad Waseem as head of this unit. The unit has been delegated high powers and will be operating under Khan directly. PTI is a strong supporter of the China- Pakistan Economic Corridor (CPEC). Khan has been in touch with the Chinese ambassador in Pakistan and also had meetings with visiting Chinese dignitaries. He visited China in 2011 and met with the leadership of the Chinese government. Source : Asia Times hours a year, which is nearly 32.25 hours a week. The Americans, according to the Bureau of Labour Statistics, work an average of 34.5 hours per week, or 1,794 hours a year. In Europe, the people with the longest working hours are the Greek with an average of 42.3 hours a week, and worldwide it is Mexico. The average worker in Mexico works 2,255 hours a year, or a little over 43 hours a week. Costa Rica, South Korea and Chile come among the five top countries in terms of average working hours. Chinese economists say that since China lags behind countries such as the United Kingdom and the United States in production efficiency, the Chinese have to work longer hours so as to catch up with the West. It's no surprise that China has become the second largest economy in the world. What about the Arabs? They are still far behind developed nations. Poor production efficiency is certainly one of the main reasons. Available figures on Arab productivity or working hours are very limited. Source : Gulf news
LAW & PUBLIC MondAy, July 30, 2018 5 dissolution of Muslim Marriage A social Curse in Bangladesh Marriage is the very foundation of civil society and no part of the laws and institutions of a country can be more vital importance to its subjects than those which regulate the manner and conditions of forming and, if necessary, of dissolving, the marriage contract. Firm union of the husband and wife is a necessary condition for a happy family life. Islam therefore, insists upon the subsistence of a marriage and prescribes that breach of marriage contract should be avoided. Initially no marriage is contracted to be dissolved but in unfortunate circumstances the matrimonial contract is broken. One of the ways of such dissolution is by way of divorce. Under Muslim law the divorce may take place by the act of the parties themselves or by a decree of the court of law. however in whatever manner the divorce is effected it has not been regarded as a rule of life. In Islam, divorce is considered as an exception to the status of marriage. The Prophet declared that among the things which have been permitted by law, divorce is the worst. Divorce being an evil, it must be avoided as far as possible. But in some occasions this evil becomes a necessity, because when it is impossible for the parties to the marriage to carry on their union with mutual affection and love then it is better to allow them to get separated than compel them to live together in an atmosphere of hatred and disaffection. The basis of divorce in Islamic law is the inability of the spouses to live together rather than any specific cause (or guilt of a party) on account of which the parties cannot live together. It is sometimes suggested that the greatest defect of the Islamic system is the absolute power given to the husband to divorce his wife without cause. The reforms of Mohammed marked a new departure in the history of Eastern legislation. he restrained the power of divorce possessed by the husband; he gave to the women the right of obtaining a separation on reasonable grounds; and towards the end of his life he went so far as practically to forbid its exercise by the men without the intervention of arbiters or a judge. Prophet dislikes it most because it prevented conjugal happiness and interfered with the proper brining up the children. In Bangladesh at a present days the Divorce has become an issue dealing with all legal attempts at all its three stage; before Divorce Notice, at the statutory period of 90 days and after expiry of statutory period. Divorce is the only legal way for terminating a Marriage other than act of God having its wide impact for a long sometimes even for life of not only the concern parties but the peoples connected with the immediate-past family. Simply divorce gives birth of many issues mostly legal issues consequently legal proceedings in different courts and the divorce lawyers/ divorce attorneys are the faithful and confident friend to the peoples for safe way out from such complications. In Bangladesh at the present days divorce has its non-comparable proposition for either side of the separating couples which is not an outcome of the law or rules for Divorce itself but for some irrelevant issues. The law and provisions for divorce as stated in the Muslim Family Law Ordinance, 1961 is the only codified law in Bangladesh dealing with the Muslims only. For the peoples of other religion like Christian and Buddhists there are different rules and laws but for the hindus still there is no codified law in Bangladesh. The rules for marriage and divorce has been regulated by the legislative enactment proclaimed on considering as well as taking the personal laws on account for the Muslims called Shariah Ain. In the western world for divorce or separation the parties need lawyers or attorneys but so far in Bangladesh the parties do not always want to hire lawyers for divorce. Considering the economical and social aspect of Bangladesh it is still a long way far from the mutual separation or divorce like the first world though there is already law for mutual divorce. Naturally when one party wants to separate from his/her partner in a very few cases the other party accepts the same which turns into a relation obviously not anything positive and then the party having passive part in divorce tried to stop the separation. In Bangladesh the Divorce Lawyers have been asked a very common question before starting divorce process is whether his partner can file a criminal case against him or not. Giving divorce to his partner is a statutory right of the husband recognized in laws and the same is an unconstrained right. As a matter of fact in 90% cases where the husband served notice for divorce his partner/wife after being informed about the Divorce Notice initiated a criminal case against the notice sender and in all cases they didn't admit about the Notice by showing a date of occurrence before the date of notice. Most of the time the criminal cases have been filed before the learned Magistrate who sends major portion of cases to the concerned Police Stations with a direction for taking legal steps after inquiry or to record the same as First Information Report (FIR). The sufferers who are implicated such false cases under some common sections of Acts 1980 and 2000 for example section 3 / 4 of Act 1980 and section 11 of Act 2000 a single allegation of demanding dowry by the Notice sender husband. The process of divorce is very simple in Bangladesh just in three steps to divorce for both husband and Wife (When power of giving Divorce has been delegated in the Kabin) wanting separation: i. Give Notice in writing; ii. Face the Arbitration Board (Appeared or not don't matter); and iii. After expiry of 90 days take a registration certificate from a registered Nikah Registrar (Kaji). Giving notice for divorce is itself a presumption that the Dower Money (Mohrana) has been paid in full but the fact is different as in most of the cases it has been revealed that portion or entire Den-mohr is unpaid and then it is the duty of the divorce lawyers to ensure payment of dower before completion of Divorce. One thing is also important at the time of initiating divorce process that is to inform the client about paying three months maintenance (Iddat) to the wife and other maintenance for the children, in this regard to avoid court proceedings the lawyer should have to communicate with the notice receiver side and all through try for negotiate all these monetary issues. For the wife above said three steps are applicable for divorce but practically and legally she is not in a position to pay any Dower Money to her Notice receiver husband though she will be responsible for maintenance of her minor children. Finally it is to be said that the process of divorce is merely an official process guided by the Ordinance, 1961 but for smooth and safe ending of divorce process the person should have been advised to contact with your lawyer or an experienced Kaji but before starting such process make yourself sure that Divorce is the only and last way available for you to get rid. On the other hand, A Muslim man can marry of a Christian Woman; But a Muslim woman cannot do that. She cannot marry without a Muslim legally. Under the Muslim Family Laws Ordinance 1961, a man can marry more than one by the permission of the Arbitrary Council. But a Woman cannot do this. It is not only illegal But also serious offence. The same procedure for divorce has also been made applicable to a wife on whom the right to divorce has been duly delegated and who wishes to exercise the right as per provisions of the section-8 of the said ordinance. These sections incorporate the provisions of two forms of talak-ussunnat viz. talak Ahsan and talak hasan. It is argued that Islam has given unfettered power to the husband to give divorce to his wife without any cause. But experience shows that greater suffering is endangered by the husband's withholding divorce than by his irresponsible exercise of this right. Under such conditions the power to release herself is the surest safeguard for the wife. No system of law can produce material happiness, but humane laws may at least alleviate sufferings. And when marital life is wrecked, the home utterly broken up by misunderstanding, jealousy, cruelty, infidelity, what greater boon can a spouse have to secure his/her liberty. Divorce of course, a social evil in itself, but it is a necessary evil. It is better to destroy the unity of the family than to destroy the future happiness of the parties by binding them to a companionship that has become odious. That's why Quran permits divorce partly because to enable men to get rid of an odious union. It has shown in the dissertation that the judiciary has taken efforts to curb the practice of arbitrary, unilateral pronouncement of divorce by Muslim husbands, and affirmed the right of the woman to challenge such a divorce. There is no doubt that Muslim women have recourse to the courts to challenge arbitrary unilateral talaq, and hence arbitrary talaq becomes a non-issue if recourse to law is taken. however, many women are unable to take recourse to law due to lack of awareness, poverty, illiteracy, financial implications of litigation and community opposition against such a move. how can the judgments impact women's lives, when women themselves, and the communities they live in, believe that they have been legally divorced? The challenge then is to educate women living in communities about the legal position and enable their access to law, as well as to promote community awareness and acceptance of the law as stated through judgments. Writer: P.M. SERAJUL ISLAM The writer is a publisher and editor of law related daily 'Shomoyer Digonto' and is PhD researcher, columnist and human rights activist, lawyer in Bangladesh supreme court, & District Court of Kushtia, E-mail: seraj.pramanik@gmail.com An overview of islamic Banking and Finance in Bangladesh law Book Corner Chowdhury MokiMuddin kJ Ali & Md. MAMonor rAshid ThE maturity of Islamic banking has been incomparable as 'no other financial industry, market or jurisdiction in the last decade has witnessed the staggering financial engineering and innovation as the Islamic finance industry. Statistically Islamic banking has had phenomenal growth, according to the Asian Banker Research Group, the world's 100 largest Islamic banks have set an annual asset growth rate of 26.7% and the global Islamic finance industry is experiencing an average growth of 15-20% annually. however, with the continual growth of Islamic banking in the Arab and Middle East world, the concept has also engaged Bangladesh because it has open society, experience and active banking and finance sector, number of reforms has initiated to the banking sector. But the most important factor, which assists Bangladesh to engage in Islamic banking, is that the majority of the population is Muslim, most of whom are keen and interest to obtain competitive financial services that meet their beliefs. hence, the country is in a good position and ready to adopt strong Islamic banking concept and develop it further to its full potential. On the other hand, Islamic finance is no longer a dream for Muslim countries; rather it is a success story across the world, including some non-Muslim majority countries like, USA, UK, Philippines, Thailand, hong Kong and Singapore. There are about 430 Islamic finance institutions and 191 conventional institutions having Islamic banking and finance windows in 70 countries. Their total assets size is around $1.6 trillion while the potential size is around $5 trillion. Nevertheless, Islamic banking was first introduced in Bangladesh way in 1983 by foreign investors from Saudi Arabia and Kuwait. Currently, Bangladesh ranked 10th in the world in terms of Islamic banking. Sudan came first and Iran second, while Saudi Arabia stood fourth and Pakistan 13th. At present, 8 (eight) full-fledged Islamic banks are in operation in Bangladesh by way of 1,068 branches. The banks are Islami Bank Bangladesh Limited (IBBL), Al-Arafah Islami Bank Limited, Social Islami Bank Limited, Export Import Bank of Bangladesh Limited (EXIM Bank), Shahjalal Islami Bank Limited, First Security Islami Bank Limited, ICB Islamic Bank Limited and Union Bank Limited. Moreover, 19 Islamic banking branches of nine commercial banks and 25 Islamic banking windows of eight commercial banks are also providing Islamic financial services. In addition, in 2017 the Bangladesh Bank gave Sonali Bank the nod to open six new windows to provide Islamic banking service to its clients. The bank, however, applied for permission to open 16 such windows but got the nod for only six. however, with a workforce of 30336 people, Islamic banking covers 22.72% market share of the country's entire banking sector in terms of deposits and investments. As of June 30, 2017 the total number of deposits and investments in Islamic banking was Tk1,99,424.90 crore and Tk1,85,244.93 crore respectively. According to Bangladesh Bank, in 2017, Islamic banking assets increased 13.2 percent, loans and advances grew 17.5 percent and deposits 14.7 percent. In contrast, the banking industry's deposits rose 12.8 percent last year and loans and advances 15.3 percent. Net profit of the Islamic banking sector increased 18.1 percent in contrast to 4.9 percent registered by the conventional banking industry. Moreover, Islamic banks enjoy regulatory facilities such as maintaining lower reserves in the form of liquid assets: 5.5 percent as opposed to 13 percent for conventional banks. More and more banks are showing interest in converting into fullfledged Islamic banks but the central bank is not giving new licences for the expansion of the shariahcompliant finance. Three conventional banks -- Standard, Jamuna and IFIC -- had applied to the Bangladesh Bank several years ago to switch to Islamic banking but they did not get the green light. But the central bank is reluctant to expand Islamic banking as it does not have enough resources and manpower to regulate the Islamic banking industry. The another reason is, till date, there is no complete Islamic banking law to control, guide and supervise this sector except the inclusion of some Islamic banking provisions in the existing Banking Companies Act. Though, the Bangladesh Bank had issued a guideline for conducting Islamic banking on November 9, 2009, which needs to be updated. Inspection and supervision of the Islamic banks are being done following the general guidelines of the Bangladesh Bank, which was actually adopted for conventional banks. The central bank does not even have a separate wing to deal with the Islamic banking. Therefore, a clear balanced law is required. Chowdhury Mokimuddin is a Barrister-At-Law & Advocate, Supreme Court of Bangladesh. He is the Head of Chambers at CM&A LCP M Rashid is a member of Young International Arbitration Group, LCIA, London & an Associate of CM&A LCP Text book on The Penal Code, 1860 A Comprehensive section Analysis and Case-laws thereof written By- ArM Borhanuddin, Edited & reviewed by: khairul islam (Taj) Publisher: university Publications, dhaka, Bangladesh First Published: January, 2009 latest Edition: 3rd (september, 2017) isBn: 984- 300- 002782-7 Price: 1,300 Taka number of Page: 820 number of Chapter: 23 This book on Penal Code is widely circulated among the learners and Security Forces of Bangladesh. The book has been revised with latest information where relevant. Nearby 100 latest case decisions of Bangladesh Supreme Court reported in DLR including the latest 68th DLR has been added in this book. All the sections in the book are written in both English and Bengali language. In previous edition, there were some spelling mistakes. The unwanted mistakes have been fixed to the possible extent in the very 3rd edition. This book incorporates approximately new 1000 footnotes, in total about 3,000. Suitable analysis and commentary to the most important sections are also inserted which will facilitate the readers enormously. The book is a latest origin including the full Penal Code and relevant commentary and section analysis of the said bare Act. This book is an attempt to address penal law from the viewpoint of Bangladesh. The author's focus is to introduce Bangladeshi students to the current penal regimes and to familiarize them with these system that is highly necessary in courtyard. The book will keep the reader in touch with essential easy interpretation of terminologies like- rape, abduction, murder, culpable homicide, forgery, dacoity, affray, riot, sexual harassment as well as crucial day to day life oriented terminologies in the field of Bangladesh. Most important feature of the book is comprehensible language and bold text pattern which will suit any law pupil. Discussions coming in the book can create effective legal mechanisms for penal justice. Whatever is ones professional interest, one will benefit from the analyses and recommendations of written nicely in this text book. The book is suitable for advocates, lawyers, academicians, researchers and law students of all levels from any university or law college.
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