ঢাকা : মঙ্গলবার, ২৩ জুলাই ২০১৯

সংবাদ শিরোনাম :

  • পণ্য মজুদ আছে, রমজানে পণ্যের দাম বাড়বে না : বাণিজ্যমন্ত্রী          বঙ্গবন্ধুর খুনিদের দেশে ফিরিয়ে আনতে চায় সরকার          অর্থনৈতিক উন্নয়নে সব ব্যবস্থা নিয়েছি : প্রধানমন্ত্রী          বনাঞ্চলের গাছ কাটার ওপর ৬ মাসের নিষেধাজ্ঞা          দেশের সব ইউনিয়নে হাইস্পিড ইন্টারনেট থাকবে
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প্রকাশ : ৩০ আগস্ট, ২০১৬ ১৬:২৫:৫৮আপডেট : ৩০ আগস্ট, ২০১৬ ১৬:৩৩:৪৮
33 Years of IBBL
Mohammad Abdul Mannan


 

August 12. 1983. Eminent Guests from home and abroad and people with great zeal and enthusiasm from various walks of life gather under a canopy on the main thoroughfare of Motijheel in Dhaka. Their eyes filled with tears and joy. Under the huge linen pavilion, Southeast Asia’s first Shari-ah-based bank – Islami Bank Bangladesh Limited gets inaugurated.
 
In February 1974, Prime Minister of Bangladesh, Father of the Nation Bangabandhu Sheikh Mujibur Rahman attended the 2nd OIC Conference. There, it was resolved to establish an International Bank of the Muslim States. In the August conference of the OIC Finance Ministers in Jeddah, 1974, Finance Minister of Bangabandhu Government Tajuddin Ahmed signed the IDB Charter. In this backdrop, through different Government and non-government initiatives and vital role of the central bank, Islami bank Bangladesh Limited started operation as the first generation commercial bank of the country on March 30, 1983 by opening of its first Account for Islamic Foundation, Bangladesh.
 
On the formal inauguration day of Islami Bank 1983, leading dailies like the Daily Ittefaq, the Daily Banglar Bani, the Bangladesh Observer etc. printed supplements carrying messages from erstwhile Chief Martial Law Administrator Lt. General H.M. Ershad, Bangladesh Bank Governor M. Nurul Islam and Chairman of the Board of Directors of Islami Bank Mohammad Abdur Razzak Laskar and others.
The Chief Martial Law Administrator, in his message, said: “This Bank established on new ideas is a challenge alongside the modern banking system….I hope that Islami Bank Bangladesh Limited would be able to contribute considerably in the nation-building activities …this Bank established on mutual cooperation of the Muslim countries will further expand the scopes of inflow of foreign investments in our country. I wish bright future for this bank and great success for this noble endeavor.”
The Governor of Bangladesh Bank stated: “This day, 12 August 1983, will be long remembered as a symbol of fulfillment of the sincere efforts of those who were exceedingly dedicated and inspired for this purpose. At this moment, I sincerely congratulate all concerned for their indomitable courage and unflinching faith that led Bangladesh to the attainment of the noble objective of first establishing Islamic bank. …The direct participation of Islamic Development Bank has provided key encouragement and inspiration to this newly-built bank. The Government of Bangladesh has shown its good gesture by providing equity for the bank....The Government is highly optimistic of the advancement of Islamic way of banking… I believe that the experience and expertise of the initiators and the management will soon bring accolades of success for the bank. |The Government and the Bangladesh Bank will extend all necessary cooperation and support for this purpose.
 
Mohammad Abdur Razzak Laskar, the founding Chairman of Islami Bank stated in his message: “Islami Bank Bangladesh Limited is founded on the principles of economic tenets of Islam. I hope, this Bank will free the people from interest-based economic system and will help run the businesses based on Islamic covenants.”
 
Renowned economist Professor Dr M. N. Huda of Dhaka University in the keynote article published in the Supplement wrote: “Islamic banking has won in the theoretical battle. Now it will have to win the battle in the operational field of interest free profit and loss sharing of banking. We believe in the compatibility of interest-free banking. Still, we need to wait for some time in anticipation of its success… I am optimistic and I believe in the superiority of interest-free banking. But we will not take it for granted. Rather we will take this system to success through strive and dedicated efforts.
 
M. A. Karim, the then Executive President of Islami Bank, former Chief Executive of Shilpa Bank and Rupali Bank, expressed his commitment to the nation stating: “The emergence of Islami Bank Bangladesh Limited has ushered in a new era in the banking history of Bangladesh. This Bank, established on the committed principles of OIC, will pave the way for a new economic system. This new economic order is of paramount importance for freeing humankind from the impasse created due to a vicious cycle of economic problems leading to poverty, unemployment, income disparity, economic instability and inflation….Islami Bank will work for planned industrial development in the country through establishing productive enterprises, ranging from small and cottage industry to heavy industries in this thickly populated, agrarian and industrially backward country.  We are also committed to further developing our agriculture.  The removal of unemployment is highly needed for ensuring a hunger-free and amicable society. Thus one of the key objectives of Islami Bank is to generate massive employment by industrialization. Islami Bank will largely be guided by the priorities of the Government’s investment policy and will conduct research works by its own team of experts from time to time.
 
Preparing for the Commitment
Islami Bank has completed its journey of more than three decades of service and care in the perspective of a global trend of shifting to Islamic way of banking. Getting ranked as “One of the world’s best 1000 Banks’ and awarded as the “Best Managed Bank in Bangladesh” by the ‘Asian Banker’s resemble the continuity of its global ranking and appreciation of success. This Bank has already achieved immense trust and support for being deeply involved with the life and livelihood of the people of the country and emerged as a successful and multi-dimensional financial entity. Touching the  success points  one after another in rapid succession, Islami Bank has already become the largest commercial bank of the country, assuming  galloping market shares in all service initiatives – especially in deposit, investment, export-import, remittance, industrialization, entrepreneur development and  women empowerment. Islami Bank is a partner in the national growth and development. It happens to be the highest tax-paying institution of the country. As the best micro-enterprise-friendly bank IBBL is recognized by the huge populace all over the country. Islami Banking in Bangladesh has been widely appreciated in a global proportion, thanks to the trust and support of the people, combined efforts of all Islamic banking institutions of the country, positive role of the Government and the Central Bank. The achievements, development and contributions of Islami Bank Bangladesh Limited are brought hereunder in a brief manner:
 
Custodian of People’s Deposits
Islami Bank encourages people for savings both for individual benefit and for the greater benefit of the country. It has been consistently and very meticulously working to raise the savings awareness of the people, especially in the remote inaccessible areas and among the less-advantaged population of the country. From 1995, Islami Bank has been operating a scheme of micro-savings with Tk.10. deposit. Besides, Islami Bank has introduced innovative schemes like Cash Waqf in order to ensure welfare to the poor and deprived sections of the population. For the empowerment of the women, it has introduced ‘Mohor” Account, based on the saving installments by male members.
 
Islami Bank attaches greater emphasis to harnessing small deposits rather than huge or corporate deposits. As a result, this Bank’s deposit base is very strong. Because of this inclusive deposit strategy the general depositors’ financial empowerment has been substantially increased.  In an overall count, Islami Bank has achieved spectacular success in achieving deposit collection in the banking sector.
 
Deposit profile of the Bank has increased three times in each five years since 1990. In last one decade, the Bank’s deposits have grown ten times. The Bank’s deposit stood at Taka 290,000 million in 2010, which stood at Tk.660,000 million by July 2016. Islami Bank holds almost 8% of the country’s total bank deposit. Islami Bank’s average deposit growth is 21%
 
Bank of 1 Crore Customers
Islami Bank belongs to the people of the country. In practice, it is a bank that is truly equal opportunity institution enjoying trust and confidence of all segments of the people, irrespective of caste, creed, faith, class or professional denominations. In 2000, the Bank had 1 million customers, in 2010 it had 5 million. By 2016, the number stands at 11.5 million.  In last 5 years, the number of depositors grew by 6.5 million. 14% of the country’s total bank depositors’ accounts are with Islami Bank alone. Islami Bank Bangladesh alone serves one-fourth of the entire Islamic banking customers of the world.
 
Proud Partner in National Development
Islami Bank has been ceaselessly working to strengthen the economic base of the country ever since its inception. As part of delegation of discretion, six committees comprising the members of the Board of Directors were constituted in 1984 in order to augment national development priorities and welfare programs of the Bank. Those committees were on Agriculture, Industry, Trade, Housing, Investment and Foreign Remittance Mobilization, This Bank attaches utmost priority in investing into sectors that concerns people’s basic needs, economic development, people’s welfare and overall socio-economic development of the country. Islami Bank pursues a coherent strategy of investing into need-based, labor-intensive, productive, import-substitute and export-oriented sectors and all are carried forth with the national priority coherence for equitable and sustainable development, especially through investment diversification protocols. IBBL is the pioneer in the advancement of national economy through two major pillars – Foreign Remittance and Readymade Garments. Islami Bank’s investment portfolio was worth Tk.597600 million by June 2016, out of which investment in foreign exchange was Tk.28000 million. Islami Bank’s market share in investment in Garments and Textile Sector stands at 21%. IBBL disburses 9% of the total investment/credit of the entire banking system of the country. Growth in Investment of Islami Bank in last 5 years was 17%.
 
Infrastructure Development and Industrialization
More than 5000 industrial enterprises of the country are now run by IBBL finance. During last 15 years IBBL’s investment was Tk. 1800 billion for industrialization. More than 1000 Garments factories are run by Islami Bank finance. Country’s 25% Spinning Mills are run by Islami Bank finance. Country’s 30% yarn is spun from these mills. Islami Bank’s contribution in financing steel Re-rolling and Steel sector is worth Tk.23200 million, which is 21% of the total national aggregate in this sector. IBBL’s Investment in is more than Tk.5500 million. Islami Bank-financed Power Plants supply more than 500 MW power to the National Grid.
 
Investment is SME Sector
Islami Bank has been attaching key priority to SME sector ever since its inception. It is because of the fact that an equitable and sustainable economic development requires key socio-economic priorities like creation of employment, entrepreneur development, mitigating regional disparity, women’s empowerment, especially, ensuring balanced and equitable social development. Islami Bank is the country’s highest financer in SME sector. In 2015, IBBL’s contribution in SME sector was 25%. IBBL has invested Tk. 1484860 million during last 10 years. In 2015 IBBL’s SME Investment portfolio was Tk.64630 million. In 2016 IBBL’s target for SME is Tk. 285000 million, which amounts to 25% of the national target. IBBL share in SME is 44% of its total investment. SME investment partners of the Bank numbers 0.15 million now, out of which more than half is women entrepreneurs. Through SME investment, 0.9 million employments has been created by IBBL. Islami Bank has disbursed Tk.18010 million under its SME scheme. Islami Bank has created more than 100 clusters comprising 47 sub-sectors including handloom, warm clothing, Gamchha industry, dried fish, salt, shoe and nursery and disbursed Tk. 20820 million in 2015. In 2014, Bangladesh Bank adjudged IBBL as the “Best Micro-Enterprise-Friendly Bank for contributing in SME sector.
 
Agriculture and Agro-based Industry
IBBL has disbursed investments to some 0.2 million clients, which is one and a half times more than the target. More than 1500 agro-based industries have emerged with IBBL investment. IBBL financed more than Tk.10000 million in Jute sector. More than 17% of Jute goods are produced from factories financed by IBBL. 26 jute mills are run with Islami Bank investment. In jute sector, its total investment is Tk.9000 million. IBBL’s investment in fertilizer import is highest among the private sector imports. More than 500 Cold Storages have been built with IBBL investment for perishable agro-products. A total of 852 Auto Rice Mills have been built with IBBL investment with an investment portfolio worth Tk. 9200 million in this sector. Islami Bank has been working as the pioneer in investing country’s first Auto-Rice Mill and Bran Oil Mill.
 
Investment in Housing Sector
Islami Bank is the highest investor in housing sector prioritizing the fundamental need. IBBL has contributed much in saving cultivable land through building multi-storied building & facilitating housing for increasing number of people. Through the investment worth of Tk.106000 million, IBBL has provided accommodation to 1.50 million people providing investment in around 2.25 lac flats and houses. Share of IBBL in Housing Sector is around 10%. This Bank’s share in the country’s total housing finance is 13%. Through the investment IBBL has created job opportunities of as many as 1.1 million people.
 
Investment in Transport Sector
Islami Bank is contributing substantially to solve acute transport problem of the country by investing in this sector. Islami Bank, the pioneer in transportation sector investment, has investment worth of Tk.146440 million in this sector which is around 18% of total Housing Sector investment of the country. Among the private sector banks, IBBL’s market share is around 32.49%. Besides, IBBL has its footprint through the investment in the air and marine transport sectors.
 
Equitable & Inclusive Investment
With a view to attaining “Makasid-al-Shariah” by emphasizing priority sector of the country, IBBL is diversifying its investment base, not confining its investment to limited number of people. The Bank is also actively working to ensure sustainable and equitable development through bridging the gap between rural and urban vicinities. IBBL has adopted the policy “Invest where the deposit comes from.” IBBL has been successful in utilizing more than 100% of its locally collected deposits to the once deprived and neglected Northern regions, which, the Bank considers a great success. These are the ways and modalities of a people- friendly bank that have augured employment opportunity and strengthened the rural economic foundation. IBBL is working in expanding small and medium scale investment base in phases. Investment below Tk.100 million was 27.10% in 2009, whereas in June 2016, the share has increased to 38.68%. Share of the Bank’s top 100 investment partners was 60.28% in 2009 which is now reduced to 40.45%.  This strategy is being further spearheaded in pursuance with the policy of inclusive and distributive justice.
 
Entrepreneur Development, Employment generation & Women empowerment
Islami Bank is dedicated to mass-scale employment generation through investing in trade & commerce and productive, labor-intensive the industrial sector. IBBL, in particular, is playing a pivotal role in contributing towards women’s participation and empowerment. Up to June 2016, IBBL has disbursed Tk.12630 million in SME women Empowerment sector. Women entrepreneurs are given micro-investment up to Tk.5.0 million. More than 2.5 million unemployed persons have been added to the productive workforce of the country through the mills and factories financed by Islami Bank.
 
Successful Partner in International Business
Islami Bank has been able to rank itself at the top in the country’s foreign trade. The Bank’s role has been spectacular in financing import-substitute and export-incentive sectors. During the last 10 years, IBBL’s total export-import volume was Tk.4162570 million, out of which import was for Tk.2528940 million and export for Tk.1633630 million.  During this time Bank’s average growth rate was around 20%. In terms of facilitating the country’s overall imports and exports, Islami Bank’s shares were 11.34% and 10.41% respectively. IBBL’s contribution in imports are as follows: Yarn-30%, Cotton-19%, Rice-21%, wheat-21%, Medicine-17%, Fertilizer-17%, Raw Materials for Garments-13%, Petroleum-11%, Industrial Machinery-9% and Coal-32%. IBBL’s contributions in financing exports are as follows: Jute & Jute Goods-25%, Readymade Garments -10%, Hide & Leather Goods-7%, Frozen Fish & Shrimp-7% and Non-conventional goods-9%. The Bank is conducting its huge foreign trade through 58 Authorized Dealer Branches and 135 forwarding Branches. Investment in terms of foreign exchange through 3 Offshore Banking Units (OBUs) is the highest among private sector banks which is 9% of the country and 65% among the Islamic Banks. In the inter-bank foreign exchange market Islami Bank’s participation is 45%. Islami Bank enjoys access to more than 500 foreign banks & correspondents.
 
The First Choice of Expatriates
Islami Bank is pioneer in harnessing hard-earned foreign exchanges from Bangladeshis working abroad. IBBL started the job of collecting remittance in 1984 with the formation of ‘Foreign Remittance Mobilization Committee’. Islami Bank is substantially contributing to national forex reserve through enhancing foreign remittance. During last 10 years, Islami Bank has mobilized foreign exchange worth US$ 33 billion (Taka 2,40,000 crore from Bangladeshi expatriates working abroad). Remittance through banking channel earned national appreciation for IBBL which alone mobilizes 27% of total remittance. Out of the expatriates abroad and the beneficiaries at home, 45% happen to be service recipients of IBBL due to its attention and care to small remittances. The expatriate Bangladeshis are remitting from abroad using Islami Bank service through more than 1 million outlets of world-renowned 138 banks and exchange houses. Services are extended to both the Bangladeshis abroad and their beneficiaries at home from ‘Expatriate Care Desk’ at each IBBL branch. Each day, on an average, Islami Bank is disbursing remittance to as many as 45 thousand beneficiaries worth average daily Tk.1300 million down to the remotest destinations. Islami Bank has introduced Remittance Card and NRB Savings Bond for wage earners abroad. IBBL is serving its valued customers with a nationwide as well as globally connected customer-base with 24-hour online service through various tool and codes like contact Centers, API, EFT, SWIFT, FTP, SFT etc. As many as 30 IBBL officials are working in various countries to encourage expatriates for remitting through service-friendly and legal channel.
 
Poverty alleviation and Rural Development
To eradicate rural poverty, creating employment in the countryside, developing agriculture and agro-based enterprise, Islami Bank introduced RDS (Rural Development Scheme) in 1995. Enhancing rural life and livelihood and thus to bring qualitative change in rural life was the core objective of RDS. This unique rural initiative includes, in addition to generating rural job opportunities, some basic human development efforts like creating awareness, enhancement of skills and vocational aptitude, training, savings, various income generating activities, micro-investment and social security awareness etc. For the urban poor, Islami Bank is equally concerned. In 2012, IBBL introduced ‘Urban Poor Development Project’ (UPDP) for the urban slum-dwellers. Tk.150000 million were disbursed under this project up to June 2016.  4.24% of the country’s total micro-investment is conducted by IBBL. One million families are beneficiaries of this scheme, out of which 82% are women.  RDS Project-members are imparted training support by the local agricultural extension, fishery, veterinary, youth development officials on various agro-based and income-generating activities.
 
Up to Tk.0.1 million is disbursed without collateral. Up to Tk. 0.5 million is disbursed under this scheme for various productive, trading and service enterprises. More than one lac beneficiaries have been promoted from small-investment recipient to micro-entrepreneurs and ultimately to SME investment subscribers. Investment in small enterprises is 4% of the total IBBL investment. The recovery rate in RDS investment program now is remarkably 99.34%. Beside investment cooperation, RDS members are included in various CSR, sanitation, health, education, adult and pre-primary education and many other social welfare activities.
 
In conformity with Government’s   forestation programs, IBBL is conducting tree plantation programs during each monsoon from 2003, planting so far as many as 10.71 million saplings. IBBL’s RDS initiative has received numerous awards and accolades from various national and international organizations for its far-reaching impact in social development through improvement of life and livelihood of the disadvantaged population. A genuine appreciation came from UNDP and Bill & Milinda Gates Foundation for the enormous social contribution of IBBL’s Islamic Microfinance. According to World Bank’s CGAP statistics (Consultative Group for Assisting Poor), IBBL’s RDS initiative is the “world’s Largest Islamic Micro-Credit Program.”
 
Financial Inclusion Activities
Financial inclusion has been a built-in attribute of Islami Bank ever since its inception. This welfare inspired Bank is working for sustainable development through aide approach of financial inclusion. Islami Bank is serving 11.5 million customers through a nationwide network of 304 branches. This bank was the pioneer in inclusion of mass people in banking service by opening account with only Tk. 10.00 deposit, since 1994. This bank opens savings account with only Tk.100.00 deposit. 21% of the country’s total student accounts are with IBBL. IBBL has attracted an ever increasing number of potential customers through various welfare and inclusive initiatives like Hajj Savings Account, Cash Waqf Account, Industry Employees Savings Account etc.
Human Resources Development
Since inception, Islami Bank is being run by veteran and professional bankers of the country. The honesty & dedication of the young bankers have been instrumental in fostering confidence and trust of the common people for the Bank. Almost all of the members of the Management Committee of the bank have been serving this institution for the last 30 years or even more. These honest, confident, self-esteemed officials are its greatest assets.
 
Every year, as many as 10,000 officials and employees get training for career improvement from many professional institutions of local and foreign organizations including BIBM and its own training institute (IBTRA) established in 1984. Up to 2015, as many as 2400 officials of the Bank have secured Diploma in Islamic Banking from IBTRA and 1421 and 1693 officials have earned JAIBB and DAIBB Certifications respectively from the Institute of Bankers, Bangladesh. 214 officials of IBBL have got internationally accepted & prestigious Certified Documentary Credit Specialists (CDCS) certifications from IFS School of Finance, UK.  This number is almost half of the country’s total number of CDCS. There are 2 Anti-Money Laundering Specialists (CAMS) and 7 Certified Information System Auditors (CISA).
 
Technology-based Service
Islami bank has created infrastructure and expert workforce which is strong in modern information technology in accordance with customers' expectation. Islami Bank’s programs are run by its own software. The core e-IBS software is created by bank's own young employees. Islami bank is increasing technology-based services like internet banking, mobile banking, SMS Banking, e-commerce etc. for the valued customers.
Up to June 2016, the number of Islami bank's ATM card reached to 2.6 million, mobile banking customer 2.35 million, SMS banking customer 3.1 million & internet banking customer is 0.2 million. The number of Islami bank’s own ATM is 500 and money deposit machine (IDM) is 33. Customer service has been made accessible round the clock and available by call center.
 
Green Banking
Green economy is needed to build a green earth. Islami Bank is working to make the grey economy turn green. The bank doesn't invest in tobacco, narcotics or any socially harmful grey sector. The bank is working for fuel-efficient electrical equipment, solar panels, online communication and marketing, training and skills developments etc. The bank is contributing in greening the country through massive forestation program.
 
As a part of green banking, IBBL has introduced paper-saving and time-saving internet banking, ATM, VISA Card, Khidmah card, i-banking, SMS banking, Call Centers etc. The cost of paper IBBL used in the first six months of 2015 was Tk.50.00 million while in first six months of 2016, it has been reduced to Tk.46.00 million with a decrease of 16.18%.
 
IBBL invests in green banking. Islami bank has invested in ETP in industries, advanced kilns in brick fields, solar panels and biogas plants. Islami Bank's allocation was Tk.3630 million in green banking in the first six month of 2016. It has also taken steps to increase it gradually. Up to June 2016, the bank has spent Tk.16.60 million from the climate risk fund for the people affected by climate change.
 
Sharia compliance and implementing Maqasid
The principle of Islamic Shari’ah is to increase welfare and eradicate evil.  Islami bank is the promoter of welfare banking in this country. The bank is always trying to achieve the objectives of Shari’ah.  All transactions and activities of the bank are audited by the Central Bank, external and internal auditors as well as the experienced Muraquibs of Shari’ah regularly audit the banking activities.   The bank's Shari’ah Supervisory Committee consists of renowned Islamic scholars, Fakih, experienced bankers and economists. They take care of the activities of the bank and give advice.  Policy makers and the bank employees are committed to complying the Shari’ah in totality at all levels of business. Accessible welfare of the people through achieving the goals of Shari’ah is the core value of Islamic banking.  Therefore, along with deposit and investment, all the activities of the bank are conducted with the highest priority of implementing Maqasid-e-Shari’ah.
 
CSR Activities
Islami Bank is a socially responsible organization. Islami banking is basically a CSR-based initiative.  From the time of its foundation, Islami Bank is working for the poor, disadvantaged and helpless people through banking activities.  The 'Sadaka Fund' was formed in 1984 to that aim. Later 'Islami Bank Foundation' was formed to work with vivid intensity for the betterment of life and livelihood of the poor, miserable and deprived people. Under its CSR activities, as an integral part of the Bank’s essence of being, as many as 10.25 million people have been brought under various programs related to health, sports, disaster management and humanitarian purposes. Islami Bank has played an important role in coping up with disasters like flood, cyclones and natural calamities. In addition, Islami Bank’s contribution to the National Relief Fund is remarkable. Islami Bank always plays pioneering role in supporting the people affected by flood, natural disasters and cold.
 
From the inception up to July 2016, the bank has spent Tk.4730.00 million on socially responsible sectors. Direct beneficiaries of Islami Bank's CSR are nearly 0.15 million people. Islami Bank has spent Tk.1400.00 million in the health sector, Tk.1090.00 million in education sector, Tk.1300.00 million in relief and disaster management, Tk.0.59 million in sports and cultural sectors and nearly Tk.270.00 million in other CSR activities. The
Bank is operating 10 hospitals and 9 community hospitals with a total of 1,594 beds. Every year, approximately 0.80 million patients are receiving health service from these hospitals. Islami bank is operating a full-fledged medical college, one health technology institute, a diploma nursing institute, 6 technical educational institutions and 7 general educational institutions for the expansion of healthcare education. A total of 4,218 meritorious students of HSC and undergraduate levels are given scholarships.
Contribution to the national treasury
Islami Bank is the highest tax paying entity to the national exchequer. Islami Bank has so far paid Tk.10,0000 million to the  treasury  including Tk.14040 million in 2015 alone.
 
Recognition & Awards
Islami Bank has received a number of national and international awards, and accolades in recognition to its skill development activities, business success and maintenance of professional standard.  According to 'Global Islamic Finance Report, 2014' Bangladesh has ranked at No.11 in the Islamic Finance Country Index. Islami Bank has a great contribution for rising to this rank. The Managing Director and CEO of the bank has been accorded with the much prestigious "The Asian Bankers CEO Leadership Achievement Award-2016' as one of the 12 nominated CEOs from nearly 11,000 CEOs belonging to 64 countries in the Asia-Pacific and Mediterranean regions. Islami Bank was awarded in the same venue as the "Best Managed Bank in Bangladesh"
 
As per the evaluation in 2012 of 'The Banker', the famous banking magazine of United Kingdom Islami Bank Bangladesh Limited, the only bank from Bangladesh, was nominated in the list of Top 1000 Banks of the world. In this list Islami Bank's rank was elevated in 2013, 2014 and 2015 to 984, 970 and 954 respectively. According to the New York-based financial magazine 'The Global Finance' has over a few years in series has recognized Islamic Bank Bangladesh Limited as 'Best Islamic Financial Institution." Islamic Bank was accorded 'The Best Presented Annual Report Award' by the South-Asian Federation of Accountants (SAFA). The top most global investment institution 'Goldman Sax' has declared the Share of Islami Bank as the best investment scope in Bangladesh.  Islamic Bank was accorded 'The Best Presented Annual Report Award' and the 'Best Corporate Governance Award' by the Institute of Chartered Accountants of Bangladesh (ICAB) and Institute of Cost & Management Accountants of Bangladesh (ICMAB). Bangladesh Bank. The SME Foundation has conferred upon Islami Bank Bangladesh Limited the 'Best Micro Enterprise-friendly Bank' successively in 2013 and 2014. The 'Center for Non-Resident Bangladeshis'  have conferred upon Islami Bank Bangladesh Limited the 'Financial Branding Award' as a recognition for successfully creating Bangladesh's brand image on foreign soil in 2014 and 2015.' Islami Bank has been awarded 1st prize in both categories 'SAARC Anniversary Awards for Corporate Governance' and ’Disclosure.' 'Bangladesh Brand Forum' gave away the "Best Brand Award" to Islami Bank Bangladesh Limited in 2014.
 
Last but not the least
Islami Bank Bangladesh Limited is the first step towards fulfillment of the commitment of transforming the entire banking system of the country in conformity with the provisions of Islamic Shari-ah. In continuation to the success records of this Bank, seven more banking institutions are set in league with Islamic banking 33 Years of IBBL
principles. Even 17 conventional banks have opened Islamic Banking Windows. Some more Banks of the country have resolved to transform into Islamic banking.  Out of the entire banking system of the country, one-third of the private banking sector is being run on Islamic banking system.
The founders of Islamic Bank had a dream of relieving people out of the clutches of interest-based banking and Islami Bank is working towards implementing that noble dream. Islami Bank has shown remarkable progress in terms of contributing to nation-building and fulfilling social responsibilities throughout its 33 years of journey. Islami Bank intends to see the nation ranking high in dignity in the community of nations through removing hunger, poverty and exploitation by implementing the coveted Islamic Shari'ah. Covering a path of a third of a century, Islami bank commits itself to strive harder and stronger towards building the long cherished Golden Bangladesh. May the Almighty be with us.
Writer : Managing Director and CEO, Islami Bank Bangladesh Ltd.

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