5:16 pm - Wednesday May 24, 9347

IBBL half-yearly business confce concludes

Deposit and investment of Islami Bank Bangladesh Limited (IBBL) stood at Tk. 650,000 million and 570,000 million respectively till June 30, 2016 which are 50,000 million and 60,000 million higher than the figure one year ago. The bank’s foreign exchange business stood at tk. 450,000 million including import tk. 170,000 million, export tk.125000 million and remittance tk. 155,000 million during the period. The Bank’s customer base stood at 11.5 million representing 14 % share of the country’s banking customers and 25% of the global Islamic Banking clients.

This information was disclosed at half-yearly business development conference of the bank held on Sunday July 24, 2016 at a hotel in Dhaka. Engr. Mustafa Anwar, Chairman of the Bank was present as chief guest in the conference. Presided over by Mohammad Abdul Mannan, IBBL-BDC-July 2016Managing Director & CEO, the conference was addressed, among others, by M. Azizul Haq, vice chairman, Professor Syed Ahsanul Alam, chairman, executive committee, Helal Ahmed Chowdhury, chairman, audit committee, Md. Abdul Mabud, PPM, chairman, risk management committee, Prof. Dr. Qazi Shahidul Alam, Major General (retd) Engr. Abdul Matin, Mohammed Humayun Kabir, FCA, Md. Syful Islam, FCA, FCMA, Dr. Zillur Rahman and Prof. ANM Sayeedul Haque Khan, directors as special guests. Top executives of head office, head of zones and 304 branch managers participated in the conference.

Engr. Mustafa Anwar as chief guest said, Islami Bank has been contributing to the national economy through welfare oriented banking investment in industrialization, strengthening rural economy and employment generation. Readymade garments and remittance are two basic pillars of the national economy, of which IBBL’s contribution is significant. Islami Bank is the only Bangladeshi bank among the top 1000 banks of the world and most compliant bank in the country and trying to become a global compliant one. He said, as recognition of its compliance and transparency, the bank’s Managing Director was accolade with ‘Asian Banker CEO Leadership Achievement Award’ and the bank to be the ‘Best Managed Bank in Bangladesh’ indicating the bank’s gradual progress in international sphere. Besides, the bank has been contributing in education, medicare service, help the destitute population through its CSR activities. He, however, urged all concerned to uphold the trend of progress of the bank in the days to come.

Directors of the bank said, Islami Bank is a welfare oriented bank conducting finance in need-based, productive, labor intensive and shariah directed sectors creating numerous employments and women entrepreneurs. The bank has been upgrading the living standard for 1 million marginal people across 20 thousand villages through microfinance. Its 80 percent beneficiaries are rural women. The bank alone conducts 50% of global Islamic microfinance. The bank’s RDS (microfinance project) has been treated as model Islamic microfinance across the globe. They pointed out that Islmic banking system is gaining rapid expansion elsewhere in the world due to its distributive justice, real asset based finance and positive impact on economy. They suggested the branch managers to reach the welfare service of the bank to door-steps of more population.

Mohammad Abdul Mannan in his presiding address said, Islami bank has been working for the last 33 years in maximizing welfare in financial sector, do away with evil and improving people’s living standard through financial inclusion, extending investment and fulfillment of Shariah’s objective. The Bank prioritizes welfare over profit and hereby makes no investment in derogatory sectors such as tobacco despite its high profitability. Islami bank is contributing in national development paying the treasury with highest tax volume in the banking sector. Emphasizing professional improvement and skill addition he paid necessary instructions to the managers for playing more role in humanist banking services, extending need based investments, industrial development and employment increasing.

The conference disclosed that the bank’s market share in RMG and remittance are 21% and 25% respectively. The Bank’s investment in industrial sector is 45% and more than 4200 industries are run with IBBL finance. In spinning and iron industries, the bank’s market exposure is 25% and 21% respectively. The Bank holds 11 and 10 per cent share in import and export financing respectively. 43 per cent of the bank’s investment is deployed in SME sector contributing 23% of the national SME. The Bank holds a 13 percent share in the housing financing market providing habitation for 26 lac people. It has 18% market share in transport financing facilitating 2 crore plus population. It deployed 13 percent of its investment portfolio in agriculture and agro industries and contributes highest finance in fertilizer importing in the private sector.