Dhaka, Bangladesh (BBN)– The Islami Bank Bangladesh Limited (IBBL) has invested more than 50 percent of its total investments in the industrial sector to facilitate the acceleration of the pace of ongoing industrialization.
Currently, more than 4,000 industrial units are being financed by the IBB, the Bank said.
The Bank contributes 21 percent of total finance in apparel and clothing sectors, 33.44 percent in food industries and 21.34 percent in iron and steel industries.
From the very beginning, the IBBL plays the role of a pioneer in developing the country’s apparel sector and its backward linkage industries.
Thus by nourishing apparel sector, the Bank has contributed to the national economy through generation of employment, earning foreign exchange and creating employment opportunities for women.
The IBBL has invested around 45 percent of its total industrial sector investments in the apparel sector while the garments and garment accessories have received nearly 10 percent or BDT 14612 million out of a total of BDT 80058 million in the sector.
The Bank has invested more than 25 percent alone of entire textile and spinning industries in Bangladesh.
It also supports new projects not yet practiced anywhere in the world. Those have been developed by innovative entrepreneurs of the country. The IBBL is even ready to make venture capital financing in the projects that are innovative and welfare-oriented.
BBN/SSR/AD-18Mar13-10:36 am (BST)