Superiority of Islamic banking system causing behind success of IBBL

A Co-ordination meeting of the top executives of Head Office and Zonal Heads of Dhaka City of the Islami Bank Bangladesh Ltd was held recently at Islami Bank Tower, Matijheel in the city.

Presided over by M. Fariduddin Ahmad, Managing Director of the Bank, the meeting was attended among others by Md. Shamsul Haque, Md. Abdul Mannan, Md. Habibur Rahman and Md. Setaur Rahman Deputy Managing Directors of the Bank.

M. Fariduddin Ahmad said that superiority of Islamic economics and banking system is the cause behind the continuous success of Islamic Bank. He expressed gratitude to all the clients, shareholders, employees of the Bank, Bangladesh Bank and different regulatory authorities. He said, IBBL has honest, self-dedicated and idealistic workers and a host of faithful clients.

He announced that IBBL will introduce some investment projects including Housing for Rural people and savings scheme for the expatriates.

Speakers in the meeting opined that as a private commercial bank Islamic Bank has been continuing its progress in banking activities including deposit, investment and foreign exchange business. The total Deposit reaches Tk.24,371 crore on 31 December 2009; showing the growth rate of 21 per cent against the same period of 2008.

The total Investment reaches Tk.23,900 crore showing the growth rate of 20 per cent against the same period of 2008. The Bank handles foreign trade amounting to Tk.46,156 crore showing the growth rate 15 per cent against the same period of the previous year including import of Tk. 16,116 crore, export ofTk.1 0,570 crore and collected remittance of Tk.l9,4 71 crore.

source : the nation