Five Year Performance of Ibbl

Topics: Bank, Islamic banking, Investment Pages: 7 (1439 words) Published: May 18, 2013
About the Organization

Islami Bank Bangladesh Limited
The establishment of Islamic Bank Bangladesh Limited on March 13, 1983, is the true reflection of this inner urge of its people, which started functioning with effect from March 30, 1983. This Bank is the first of its kind in Southeast Asia. It is committed to conduct all banking and investment activities on the basis of interest-free profit-loss sharing system. With the active co-operation and participation of Islamic Development Bank (IDB) and some other Islamic banks, financial institutions, government bodies and eminent personalities of the Middle East and the Gulf countries, Islamic Bank Bangladesh Limited has by now earned the unique position of a leading private commercial bank in Bangladesh.

Corporate information: (As on Diary 2012 of IBBL)
Date of Incorporation| 13th March 1983|
Inauguration of 1st Branch
(Local office, Dhaka)| 30th March 1983|
Formal Inauguration| 12th August 1983|
Share of Capital|
a. Local Shareholders| 41.43%|
b. Foreign Shareholders| 58.57%|
Authorized Capital| Tk. 20,000.00 million|
Paid-up Capital| Tk. 10007.71 million|
Deposits | Tk. 335578.00 million |
Investments (including Investment in Shares)| Tk. 329906.00 million | Foreign Exchange Business| Tk. 610199.00 million |
Number of BranchesincludingSME/ Agricultural Branches| 276| Number of Zone| 7|
Number of Shareholders| 60564|
Manpower| 10986|
No.of ATM Booth including Own & Share| 1100|

To establish Islamic banking through the introduction of a welfare oriented banking system and also ensure equity and justice in the field of all economic activities, achieve balanced growth and equitable development through diversified investment operations particularly in the priority sectors and less developed areas of the country, to encourage socio-economic uplift and financial services to the low income community particularly in the rural areas.

The vision of IBBL is to always strive to achieve superior financial performance, be considered a leading Islamic Bank by reputation and performance.

To establish and maintain the modern banking technology, to ensure the soundness and development of the financial system based on Islamic principles and become the strong and efficient organization with highly motivated professionals, working for the benefit of people, based upon accountability, transparency and integrity in order to ensure stability of financial system.

Try to encourage savings in the form of direct investment

Try to encourage in economic investment particularly in projects, which are more likely to lead the higher employment.

Objectives of IBBL
The primary objective of establishing Islami bank Bangladesh ltd. is to promote, foster and develop the application of Islamic principles in the business sector. More specifically, the objectives of Islamic banking when viewed in the context of its role in the economy are listed as following:

To establish a partnership relationship with customers and to eliminate the idea of the debtor-creditor relationship of traditional banks.

To establish welfare oriented banking system;

To mobilize savings towards productive sectors;

To invest on profit and risk sharing basis;

To invest in those businesses sectors that is from the religiously found legal

To accept deposits on profit and loss sharing basis.

To create employment opportunities by investing savings towards prospective economic sectors.

To extend banking services towards the poor, helpless and low-income group of people in the society in order to uplift of their standard of living.

To contribute to establishment of a society by equitable distribution of wealth

To establish justice in trade and commerce in the country;

To develop morals among the people and to establish the shariah in the field of...
Continue Reading

Please join StudyMode to read the full document

You May Also Find These Documents Helpful

  • Five Years from Now Essay
  • 10th Five Year Plan Essay
  • Essay on Five Year Plans of India
  • Essay on Five Operations Performance Objectives
  • Five Year Career Plan Essay
  • Stalin's Five Year Plan Research Paper
  • My Life in Five Years Essay
  • 12th Five Year Plan Essay

Become a StudyMode Member

Sign Up - It's Free