Mohammad Abdul Mannan (1952, Narayanganj) is the General Director of the
Islamic Bank of Bangladesh, the largest private Bank in Bangladesh and the first Bank in Southeast Asia to apply the principles of the Sharia and Islamic Economics. Before, he worked in various positions in the Bank.
Mohammad Abdul Mannan has successfully introduced financial products based on the Sharia as well as works on the brand positioning of the “Islamic Bank” in Bangladesh
Currently; he leads the Task Committee of the Islamic Banks Consultative Forum
Muhammad Abdul Mannan, suggests that there are seven stages in the formulation and development of the Islamic Economics.
He identifies three basic economic functions: consumption, production, and distribution, which are common to all systems
These universal functions are governed by a set of principles, which must be
consistent with the Sharia (e.g., consumption moderation)
Based on the preceding it is necessary to define a theory that can
synthesize all the economic variables under the Islamic values. This theory is dynamic; it can be modified over time
Once defined the theory; it is necessary to set a range of
goods and services necessary to achieve individual or group goals of society
At this stage, there is a need to implement policy measures (pricing policies, for example) taken in the previous step. It is necessary to have an institution that can adapt theoretical knowledge to the measures required for the implementation of the economic policy, based on the Sharia