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

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]

Mission

To establish Islamic Banking through the introduction of a welfare-oriented banking system, to achieve balanced growth and equitable development through diversified investment operations particularly in the priority sectors and less developed areas of the country. By this way, IBBL always tries to ensure every day quality and complied services to its valued clients.

Core Values

1. Trust in Almighty Allah. 2. Strict observance of Islamic Shari’ah. 3. Highest standard of Honesty, Integrity & Morale through ensuring Proper Delegation, Transparency & Accountability. 4. Environmental Consciousness. 5. Adoption of updated Technology. 6. Ensuring every day customized quality service.

Major shareholders

63% shared owned by above shareholders and 60,000 people of Bangladesh are owners of the rest 37 percent shares.[10]

IBBL's world rating

Islami Bank Bangladesh Limited, the largest private bank of Bangladesh placed among Top 1000 world banks 2012 list. UK based century old financial magazine The Banker published this list analysing in depth-data & industry's performance.[citation needed]

Inclusion of Islami Bank in the prestigious club of best 1000 is tantamount of global recognition of overall development of Bangladesh Banking Sector. [11]

Now IBBL is the number one Private Commercial Bank in Bangladesh.

As per Bankers' Almanac (January 2001 edition) published by the Reed Business Information, Windsor Court, England, IBBL's world Rank is 1771 among 3000 banks selected by them. This position was 1902 among 4500 selected banks as of the January 1999 edition. IBBL's country Rank is 5 among 39 banks as per ratings made by the above Almanac on the basis of IBBL's Financial Statements of the year 2001.

Awards

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]

Recently Managing Director & CEO of IBBL has achieved "The Asian Banker CEO Leadership Achievement Award 2016" as well as the bank also awarded as the best managed bank in Bangladesh organized in Hanoi, Vietnam.

Social welfare activities

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

  1. ↑ http://www.4-traders.com/ISLAMI-BANK-BANGLADESH-LI-6500899/revisions/
  2. ↑ 2.0 2.1 2.2 http://www.islamibankbd.com/docs/credit_rating_report.pdf
  3. ↑ https://www.islamicfinance.com/2015/07/al-rajhi-worlds-largest-islamic-bank/
  4. ↑ 4.0 4.1 4.2 Lua error in package.lua at line 80: module 'strict' not found.
  5. ↑ http://www.islamibankbd.com/abtIBBL/abtIBBLCorpInfo.php
  6. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  7. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  8. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  9. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  10. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  11. ↑ https://www.islamibankbd.com/news.php?ID=103
  12. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  13. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  14. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  15. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  16. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  17. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  18. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  19. ↑ Lua error in package.lua at line 80: module 'strict' not found.

External links

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