Dhaka, Bangladesh (BBN)– Islami Bank Bangladesh Limited (IBBL) is contributing significantly in the country’s agriculture sector to ensure food security.
Since its inception, the IBBL is working for development of agricultural sector, which is the livelihood of 80 per cent of people of the country directly or indirectly.
The IBBL invested more than BDT 60 billion in the agriculture sector in the five years along with other priority sectors in Bangladesh.
The Shariah-based Islami Bank is also giving priority investment in agricultural marketing and agricultural support industries with implementing different investment projects including Agricultural Implements Investment Scheme, Rural Development Scheme (RDS) and Small Business Investment Scheme.
As part of the move, the IBBL has also provided training to two and a half million farmers across the country for to help using modern technology for the cultivation.
The country’s leading private commercial bank has already invested a total of BDT 1.319 billion in the agriculture sector which is nine per cent of disbursed amount among all banks and 23 per cent among the private commercial banks in line the central bank’s directive.
Under the directive of the Bangladesh Bank (BB), all banks will have to invest two and a half per cent of total investment in agriculture and rural sectors.
The IBBL is expanding its investment portfolios by giving priority to the sharecroppers, marginalized groups including small and disadvantaged people of the country aiming to ensure food security, employment generation, poverty alleviation and human resources development.
The Bank is also investing in the priority sectors of the government including pulses, oilseeds, spices and maize cultivation at grace profit rate.
There is no alternative to setting up the agro-based industries for qualitative development across the country. The IBBL provides supports by which the logistics including raw materials for the agro-based industry may be procured easily.
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, 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.