Islami Bank in 40th year of operations

Islami Bank Bangladesh has stepped into its 40th year of operations, with a deposit portfolio of Tk 1.40 trillion and investment portfolio of Tk 1.16 trillion.

The Shariah-based bank is one of the nation's largest import and export and SME investment financiers, said a press release.

Holding a discussion at Islami Bank Tower yesterday marking the founding anniversary, the bank said it mobilises one-third of the country's foreign remittance through over 6,000 units.

"The bank with 16 million clientele has created direct employment for about 8.4 million people," said Managing Director Mohammed Monirul Moula as chief guest.

"Some 38 per cent of the country's readymade garment and 60 per cent of the textile sector have been running with the bank's investment," he said.

Over 6,000 industries, 2,000 agro-based industries, 26 jute mills, 421 shipping companies, 50,000 transport firms, 50 cold storages and 1,000 auto rice mills are being operated through the bank, he said.

Muhammad Qaisar Ali and Md Omar Faruk Khan, additional managing directors, Md Mostafizur Rahman Siddiquee, Md Altaf Hossain and Md Nayer Azam, deputy managing directors, and Md Maksudur Rahman, senior executive vice-president, were present.