Islami Bank crosses milestone of Tk 1 trillion deposits | The Daily Star
06:45 PM, July 01, 2020 / LAST MODIFIED: 06:48 PM, July 01, 2020

Islami Bank crosses milestone of Tk 1 trillion deposits

Islami Bank Bangladesh Limited, a top private commercial bank in the country, has crossed the milestone of Tk 1 trillion deposited to it.

Islami Bank reached the milestone on June 30 this year, according to a press release of the bank issued today.

The bank's deposit has been increasing over the last five years since 2016. In 2019, the bank's deposit stood at Tk 94,681 crore.

Moreover, Islami Bank has surpassed all past records of collecting the highest foreign remittances in May and June this year. The amounts were US$ 461 million in May and US$ 575 million in June. Remittance collection has never exceeded US$ 400 million in a month previously.

In June 2020, Islami Bank's growth in remittance collection was about 116 percent as compared to June 2019. At present, Islami Bank's market share in remittance collection is 32 percent. The bank is making a significant contribution to the national reserve (foreign exchange reserves) with the increasing remittance inflows through banking channels.

Islami Bank is making relentless efforts to build the habit of saving for the backward and lower income people besides making overall contribution to sustainable development activities in the country. The bank has been a trusted custodian of people's savings by nurturing a culture of compliance and conducting banking activities with utmost professionalism.

Islami Bank, a pioneer in Shariah-based banking, currently serves its customers through 357 branches, 43 sub-branches, 1,200 agent banking outlets, 660 own and about 11,000 shared ATM and CRM booths across the country.

Through modern information technology and sincere customer service, the bank has become a unique institution of trust and confidence among people from all walks of life.

The bank's clientele base has also grown significantly this year. At present, the bank is serving a total 15 million clients.

Islami Bank started agent banking activities in 2017 to reach the people who are deprived of financial services. At present, 7,53,000 clients are receiving the bank's agent banking services and the total amount of deposits made by them is Tk 2,600 crore, the highest in the country through agent banking activities.

The bank has also continued to maintain the top position in the import-export trade of the country, making a significant contribution in addressing the ongoing financial challenges.

Moreover, Islami Bank is accelerating the sustainable development of the country by reducing economic inequality in rural and urban areas and providing investment by pursuing a policy of equitable distribution. Islami Bank has the highest SME investment which is making a significant contribution to the development of the SME sector.

A team of young, honest, competent and smart officials run the bank's operations. With their sincere efforts and diligence, Islami Bank has become the only bank from Bangladesh which is in the list of top 1,000 banks across the world, besides receiving numerous awards and recognition for its activities so far.

This achievement of Islami Bank goes to all its customers, well-wishers and all the members of the bank's family in the country and abroad.

The management of the bank also expresses its gratitude to the Government of Bangladesh, the Bangladesh Bank, regulatory authorities, shareholders and clients.

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