Islami Bank Bangladesh Ltd

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Islami Bank Bangladesh Ltd
Private (Non-Government),
Industry Banking
Financial services
Founded Dhaka, Bangladesh (1983)
Headquarters Dhaka, Bangladesh
Area served
Bangladesh & Overseas
Key people
2016 Saturday. Engr. Mustafa Anwar
(Chairman)
Yousif Abdullah Al-Rajhi
(Vice Chairman)
Mustafa Anwar
(Vice Chairman)
Products Banking services, ATM services, Consumer Banking
Corporate Banking
Investment Banking
Revenue Increase Tk 27.413 billion, US$ 0.352 billion [1] {November 2013}
Increase Tk 24.67 billion (US$ 0.317 billion)[2] {May 2013}
Increase Tk 17.80 billion (US$ 0.229 billion)[2] {May 2013}
Total assets Increase US$ 8.381 billion)[3] {July 2015}
Total equity Increase Tk 48.466 billion, US$ 0.6278 billion[2] {Sep 2015}
Number of employees
13,229
Website IslamiBankBD.com

Islami Bank Bangladesh Ltd. (IBBL) (Bengali: ইসলামী ব্যাংক বাংলাদেশ লিমিটেড) is the pioneer of Islamic banking in Bangladesh. It became incorporated on March 13, 1983 as a public limited company under the Companies Act 1913.[4] It has 36.91% local and 63.09% foreign shareholders. Up to Dec 2015, IBBL has 304 branches including 57 AD Branches & 03 Offshore Banking Units as well as has 13,229 staffs. In addition to that IBBL maintains its own 497 ATM Booths, 33 IDM (IBBL Deposit Machine) along with 6,000 shared ATM network across the country. IBBL mobilizes around 27% of the country remittance. In 2015, it serves USD 3,903.21 million out of USD 15,316.75 million of total country remittance. As such, IBBL is the largest private banking network in Bangladesh.[5] When IBBL was established, it was the first bank in south-east asia to provide banking service based on Shariah.[6] The bank is listed with both Dhaka Stock Exchange Ltd. and Chittagong Stock Exchange Ltd.[4][7]

History[edit]

Islami Bank Bangladesh Limited is a sharia compliant bank in Bangladesh which started operations on 30 March 1983. It is a public limited company registered under the Companies Act of 1913. IBBL is a joint venture of the government of Bangladesh, 22 businessmen of Bangladesh, Islamic Development Bank, and investment firms and banks from Muslim Middle Eastern countries.[8] Inclusion of Islami Bank in the prestigious club of best 1000 is tantamount of global recognition of overall development of Bangladesh Banking Sector. [9]

Major shareholders[edit]

63% shared owned by above shareholders and 60,000 people of Bangladesh are owners of the rest 37 percent shares.[11]

Awards[edit]

Global Finance, a reputed US-based quarterly magazine, awarded IBBL as the best bank of Bangladesh for the Year 1999, 2000,[4] 2004, and 2005, and the best Islamic financial institution of Bangladesh every year from 2008 through 2013.[12][13][14][15][16][17]

Social welfare activities[edit]

Islami Bank Bangladesh Limited is dedicated itself towards the welfare of society. It has formed a separate foundation named Islami Bank Foundation with a fund of Taka 38.00 million in order to conduct social-welfare activities on a broad scale. Since then, Islami Bank Foundation is carrying the social welfare, education, health and medicare activities on behalf of Islami Bank Bangladesh Limited (IBBL).[18]

The social welfare projects of Islami Bank Foundation includes:[19]

  • Islami Bank Hospitals
  • Islami Bank Medical College, Rajshahi
  • Community Hospitals
  • Monoram: Islami Bank Crafts & Fashion Houses
  • Service Centres
  • Islami Bank Institutes of Technology
  • Islami Bank International School and College
  • Islami Bank Physiotherapy and Disabled Rehabilitation Centre
  • Centre for Development Dialogue
  • Bangladesh Sangskritic Kendra (Cultural Centre)

References[edit]

  1. ^ http://www.4-traders.com/ISLAMI-BANK-BANGLADESH-LI-6500899/revisions/
  2. ^ a b c http://www.islamibankbd.com/docs/credit_rating_report.pdf
  3. ^ https://www.islamicfinance.com/2015/07/al-rajhi-worlds-largest-islamic-bank/
  4. ^ a b c Mazid, Muhammad Abdul (2012). "Islami Bank Bangladesh Limited". In Islam, Sirajul; Jamal, Ahmed A. Banglapedia: National Encyclopedia of Bangladesh (Second ed.). Asiatic Society of Bangladesh. 
  5. ^ "About IBBL:Corporate Information". www.islamibankbd.com. Retrieved 2016-07-27. 
  6. ^ Md. Monirul Islam, Md. Ashfaque Alam. "Islami Bank Bangladesh Limited" (PDF). BRAC EPL Stock Brokerage Ltd. Retrieved 6 September 2013. 
  7. ^ "Islami Bank Bangladesh Limited". Bangladesh Institute of Bank Management. Retrieved 27 September 2013. 
  8. ^ "Islami Bank Bangladesh Limited - Banglapedia". en.banglapedia.org. Retrieved 2016-05-10. 
  9. ^ https://www.islamibankbd.com/news.php?ID=103
  10. ^ Md Fazlur Rahman. "Islamic banking on a roll". The Daily Star. Retrieved 27 September 2013. 
  11. ^ Al Mamun, Firoz (21 February 2013). "Islami Bank guided by economics, not politics". The Daily Sun. Archived from the original on 12 December 2013. Retrieved 27 September 2013. 
  12. ^ "US magazine says IBBL best Islamic financial institution in Bangladesh". Bangladesh Business News. 16 October 2010. Retrieved 28 November 2015. 
  13. ^ "Best Islamic Finance Institutions - 2008". Global Finance. 19 February 2009. Retrieved 28 November 2015. 
  14. ^ "Islamic Financial Institutions Awards - 2009". Global Finance. 1 June 2009. Retrieved 28 November 2015. 
  15. ^ "Islamic Bank Awards 2011: By Country". Global Finance. 1 June 2011. Retrieved 28 November 2015. 
  16. ^ "World’s Best Islamic Financial Institutions 2012: Country Awards". Global Finance. 6 June 2012. Retrieved 28 November 2015. 
  17. ^ "World’s Best Islamic Financial Institutions 2013: Country Winners". Global Finance. 2 June 2013. Retrieved 28 November 2015. 
  18. ^ "Source of Fund". Islami Bank Foundation. Retrieved 6 September 2013. 
  19. ^ "Special Projects". Islami Bank Bangladesh Ltd. Archived from the original on 8 September 2013. Retrieved 6 September 2013. 

External links[edit]