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Finance

Bangladeshi banks scurry to meet demand for Islamic services

Most of nation's institutions now offer some religious finance

Islami Bank Bangladesh was one of the first banks to offer religious banking services in the country. (Photo by Sharar Nayel)

DHAKA -- Rising religious ardor in Bangladesh is reshaping the country's banking system.

Following moves by two traditional banks to convert to Islamic banking earlier this year, religiously structured institutions accounted for a quarter of all banking deposits and are now handling two of every five inbound remittances from Bangladeshis working overseas.

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