IBBL recommends 18pc dividend

The Board of Directors of Islami Bank Bangladesh Limited recommended total 18 per cent (10  per cent stock and 8 per cent cash) dividend for the Shareholders for the year 2013 subject to the approval of the 31st Annual General Meeting of the Bank. This was decided in a meeting of the Board of Directors of the Bank held at IslamiBankTower on Saturday (22 March 2014) with Prof. Abu Nasser Muhammad Abduz Zaher, Chairman, Board of Directors of the Bank in the chair.

IBBL Board Meeting Engr. Mustafa Anwar, Representative of the Public Institution for Social Security, Engr. Eskander Ali Khan, Representative of Al-Rajhi Co. for Ind. & Trade, KSA, Md. Abul Hossain, Representative of Investment Corporation of Bangladesh, Dr. Abdulhameed Fouad Al-Khateeb, Repr. Of Arabsas Travel & Tourist Agency, KSA, Dr. Areef Suleman, Representative of Islamic Development Bank, Mohammad Abdullah AlJalahma, Representative of Kuwait Awqaf Public Foundation, Salahuddin Ahmed, Representative of Kuwait Finance House, Md. Abdus Salam, FCA, FCS. Humayun Bokhteyar, ACPA, FCA, Professor NRM Borhan Uddin, Ph.D, Professor Dr. AKM Sadrul Islam, Barrister Mohammad Belayet Hossain and Mohammad Abdul Mannan, Managing Director attended the meeting.

The meeting approved the Profit and Loss Account for the year 2013 and Balance Sheet as on 31 December 2013. The 31st Annual General Meeting will be held on May 31, 2014 at Bangabandhu International Conference Centre. The Record date for Dividend has been fixed on April 30, 2014.

It was also decided that the annual profit rate of Mudaraba Perpetual Bond of the Bank is 12.8% for the year 2013 which is the sum of 11% final rate of profit of 8 year term Mudaraba Savings Bond and 10 % of the declared Dividend. The Profit of the Bond will be distributed within 30 days from holding of Annual General Meeting of the Bank.

The meeting expressed it’s satisfaction while evaluating the performance of the Bank over the success & progress achieved so far and took some important business decisions.