Dhaka, Bangladesh (BBN)- The Islami Bank Bangladesh Limited (IBBL) has emerged as a symbol of trust of the masses of people by introducing unique deposit products and diversified investments in large industries to small and medium enterprises (SME) along with microfinance activities.
The IBBL has been working to ensure equity and justice in all economic activities for achieving a sustainable and balanced growth and equitable socio-economic development since its inception on March 30, 1983.
As the country’s leading private commercial bank (PCB), the IBBL is contributing to the balanced economic growth in Bangladesh through diversification of its investment portfolios by size, sector and geographical area for achieving its ultimate institutional vision. Its goal is to ensure soundness and development of the financial system based on Islamic principles and values.
The Shariah-based Islami Bank is continuously upgrading its customer services, corporate governance and corporate social responsibility (CSR) activities with an innovative and caring professional attitude. It is the only bank in Bangladesh which found its place on the Top 1000 World Banks list in July 2012.
The IBBL is playing a significant role in industrial development of the country, in addition to its other investments including microfinance activities in the rural areas of Bangladesh.
The Bank is working in the export sector from the very beginning resulting in maximizing export earnings as well as creating employment opportunities in Bangladesh. It is also helping develop different backward and forward linkage industries in the apparel and clothing sectors across the country.
The Islamic bank is the bank of 8.0 million clients, 12.5 per cent of the total banking industry in Bangladesh. The Bank’s aggregate deposits have reached the level of BDT 420,000 million which is 7.7 per cent of the country’s total deposits. It holds an investment portfolio of BDT 395000 million which amounts to 8.7 per cent of the country’s total investment by its banking sector both in loans and advances.
The readymade garment (RMG) industry is considered as the country’s largest foreign currency earner, contributing more than 16 per cent of its gross domestic product (GDP), accounting for nearly 80 per cent of its total export receipts, and providing direct employment to around 4.0 million people, among whom 80 per cent are women.
The Bank has already emerged as the top export-import bank in Bangladesh. The Bank is collecting 28 per cent of total inward remittance through 116 exchange houses across the world. It collected nearly US$4.0 billion as remittance equivalent to BDT 300,920 million in 2012.
The IBBL’s workforce is increasing steadily and proportionately with the expansion of its branches and activities. Total workforce of the Bank rose to 12188 in 2012 from 11465 in the previous calendar year. The Bank is running its businesses through 276 branches across the country.
The Islami Bank is the bank of all people, regardless of party-ideology-religion-caste-creed-class-profession. The IBBL is the property of the country and its people.
BBN/SSR/AD-17Mar13-11:50 am (BST)