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Islami Bank Bangladesh

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to Islamic operations systems gradually. In November 1980, A S M Fakhrul Ahsan, Director (Research) of Bangladesh Bank recommended for commencing Islamic banking operation in Bangladesh. In April 1981, the Ministry of Finance in a letter written to Bangladesh Bank recommended to start separate Islamic banking counters in all branches of the state-owned banks of Bangladesh on an experimental basis and keep separate ledgers for this purpose. In November 1982, a delegation of the Islamic Development Bank visited Dhaka to monitor and evaluate the possibility of a joint venture to establish an Islamic bank in the private sector in Bangladesh and recommended the Islamic Development Bank as an entrepreneur to invest capital in the proposed Islamic bank. As a consequence, Islami Bank Bangladesh Limited, the first shari'ah compliant bank in Bangladesh started operations on 30 March 1983. It was founded by
511:, resigned from the board of directors of Islami Bank Bangladesh Limited after being elected President of Bangladesh, a position he held since 2017. An additional managing director and deputy managing director of the bank resigned within a week of each other in April. The bank announced plans to increase confidence of its depositors. Bangladesh Bank report published in its website shows that IBBPLC has spent by far the highest amount on corporate social responsibility in Bangladesh for the year 2022. 578: 2323: 335: 308: 281: 254: 227: 50: 38: 483:
In 2022, many media outlets reported that the bank was giving out loans to suspicious businesses without proper verification. A 24 year old received a 9 billion BDT loan from Islami Bank Bangladesh Limited a month after he established the company, MediGreen. MediGreen had applied for the loan 14 days
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roots". This sudden change, however, has led the bank to a financial crisis. The change also saw foreign investors reduce their stake in the bank. As of 2017, Islami Bank Bangladesh commands 90% of Islamic-banking assets and deposits in Bangladesh, is the country's biggest private lender overall, has
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Bangladesh became a member of the Organisation of Islamic Cooperation (OIC) in February 1974 and signed the charter for Islamic Development Bank in September that year. In April 1978, the 9th conference of OIC foreign ministers recommended for reorganizing the banking system of the member countries
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which has the controlling stake of the bank took 300 billion BDT loans from Islami Bank Bangladesh Limited. The group had taken the loans violating banking rules of Bangladesh. Around same time large amount of deposits were withdrawn from the bank feeding into a liquidity shortage. Bangladesh Bank
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investors who provided 70 per cent of the initial capital. It is a public limited company registered under the Indian Companies Act of 1913. IBBL is a joint venture of the government of Bangladesh, 22 businessmen of Bangladesh, Islamic Development Bank, and investment firms and banks from Muslim
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of the High Court Division ordered an investigation into the irregular loans at Islami Bank and sought an explanation from S. Alam Group on the 300 billion BDT loan. On 29 December 2022, Islami Bank Bangladesh Limited took 80 billion BDT in emergency loans from Bangladesh Bank. Ahsan H. Mansur,
401:. It became incorporated on 13 March 1983 as a public limited company under the Companies Act 1913 and started operation on 30 March, the same year. IBBPLC maintains its own ATM Booths with a country-wide shared ATM network. IBBPLC has been the largest private banking 477:
12 million depositors and a balance-sheet of $ 10 billion. After the change, the bank changed their recruitment policy to recruit non-Muslims and more women under newly appointed chairman Arastoo Khan. Arastoo Khan replaced Mustafa Anwar.
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In 2012, United States Senate Permanent Subcommittee on Investigations mentioned possible ties of Islami Bank Bangladesh Limited to terrorism financing through HSBC Bank which the bank denied. The report questioned the banks link to
566:, a reputed US-based quarterly magazine, awarded IBBPLC as the best bank of Bangladesh for the Year 1999, 2000, 2004 and 2005, and the best Islamic financial institution of Bangladesh every year from 2008 to 2013. 484:
after registering. Another company, S.S Straight Line, received 9 billion BDT loans within three weeks of being founded. Marts Business, received a 9 billion BDT loan within one month of registration.
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approved Islami Bank Bangladesh Limited to raise 8 billion BDT through issuing bonds. Bangladesh Bank purchased land from Islami Bank near its headquarters for 1.1 billion BDT. In February 2023,
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From January 2019 to March 2019, the defaulted loans of Islami Bank doubled to 69.16 billion BDT. It also rescheduled 600 defaulted loans through securing special approvals of Bangladesh Bank.
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In 2017, the bank had a sudden change in its ownership and management structure. The newly appointed Bank management claimed the bank was trying to stem out its "
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Director of Policy Research Institute of Bangladesh, alleged the government officials were aware of the loans scams at the bank involving S. Alam Group.
2355: 2112: 1409: 1750: 1724: 1607: 1331: 1633: 1483: 1359: 1672: 523:(Islami Bank Bangladesh's biggest institutional investor. Reduced its stake from 7.5% to 2.1% following controversial 2017 government "takeover") 1903: 1433: 504: 452:. Islami Bank hired Dana Contratto and Associates, a lobbying company, for 25 thousand USD per month to lobby for the bank in Washington DC. 1557: 1828: 1507: 1802: 1532: 1383: 781: 749: 717: 685: 653: 17: 1702: 1247: 1193: 879: 491:
appointed an observer to the bank and began an investigation into irregular loans worth 72.46 billion BDT. In December, Justices
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Clients of JP Morgan purchased a three percent stake in the Islami Bank in November 2015.
78: 8: 2295: 2239: 2047: 2042: 2310: 2234: 2219: 2097: 2087: 2032: 2017: 1976: 1866: 526: 211: 100: 1458: 1272: 440:, "Islami Bank was a pioneer in financing Bangladesh's rise as the apparel industry's 2322: 2037: 2022: 2007: 2002: 909: 823: 496: 188: 176: 37: 1861: 775:"Independent Auditors' Report to The Shareholders of Islami Bank Bangladesh Limited" 743:"Independent Auditors' Report to The Shareholders of Islami Bank Bangladesh Limited" 711:"Independent Auditors' Report to The Shareholders of Islami Bank Bangladesh Limited" 679:"Independent Auditors' Report to The Shareholders of Islami Bank Bangladesh Limited" 647:"Independent Auditors' Report to The Shareholders of Islami Bank Bangladesh Limited" 2082: 1961: 1936: 402: 382: 327: 1039: 1014: 989: 1926: 596: 394: 207: 129: 508: 203: 1881: 2339: 2122: 2107: 1876: 1871: 857: 827: 545: 449: 436: 68: 2326: 2305: 2290: 2204: 583: 423: 1695:"US magazine says IBBPLC best Islamic financial institution in Bangladesh" 1410:"TK 7,246CR loans to 9 firms: BB probing 'breach of rules' at Islami Bank" 2137: 2102: 1966: 1956: 1951: 2244: 398: 273: 202:, ATM/CRM services, Internet Banking, Payment Gateway, Mobile Banking, 156: 133: 2209: 2077: 2072: 1829:"World's Best Islamic Financial Institutions 2013: Country Winners" 816:"Islamic banking grows in Bangladesh, no thanks to the authorities" 1803:"World's Best Islamic Financial Institutions 2012: Country Awards" 455:
In July 2013, Islami Bank had difficulties getting repayment from
1992: 199: 96: 1360:"Depositors withdraw Tk 11,426cr from Islamic banks in 3 months" 555:
people of Bangladesh are owners of the rest 37 percent shares.
540: 427: 1558:"President-elect Shahabuddin resigns from Islami Bank's board" 1306:"How a 24-year-old greenhorn is 'blessed' with a Tk900cr loan" 49: 1867:
IBBPLC CellFin: Your Digital Wallet | Procedure & Details
1508:"Islami Bank gets nod to raise Tk 800 crore by issuing bonds" 552: 300: 138: 2224: 1856: 1484:"Islami Bank's loan scams were not unknown to policymakers" 1533:"Bangladesh Bank buys Islami Bank's land for Tk 110 crore" 1384:"BB decides to appoint observers at the two Islamic banks" 367: 1194:"Islami Bank to hire people of all religions, more women" 459:
after the company lost 89.4 million USD foreign orders.
1608:"Islami Bank working to restore depositors' confidence" 1093:"Islami Bank appoints US consultant to clear its name" 1248:"Islami Bank's default loans double in three months" 573: 872: 405:in Bangladesh. The bank has been listed with both 2337: 1459:"Islami Bank gets special loan of Tk 80 billion" 862:Banglapedia: National Encyclopedia of Bangladesh 621:"āĻ‡āĻ¸āĻ˛āĻžāĻŽā§€ āĻŦā§āĻ¯āĻžāĻ‚āĻ•ā§‡āĻ° āĻšā§‡āĻ¯āĻŧāĻžāĻ°āĻŽā§āĻ¯āĻžāĻ¨ āĻĒāĻĻā§‡ āĻ“āĻŦāĻžāĻ¯āĻŧā§‡āĻĻ āĻ‰āĻ˛ā§āĻ˛āĻžāĻš" 1911: 1665:"Islami Bank guided by economics, not politics" 551:63% shared owned by the above shareholders and 514: 1751:"Islamic Financial Institutions Awards – 2009" 1434:"HC orders probe into 'loan scams' in 3 banks" 1168:āĻŽāĻžāĻ˛āĻŋāĻ•āĻžāĻ¨āĻž āĻŦāĻĻāĻ˛ā§‡āĻ° āĻĒāĻ° ā§§ā§Ģ āĻŽāĻžāĻ¸ā§‡āĻ‡ āĻ‡āĻ¸āĻ˛āĻžāĻŽā§€ āĻŦā§āĻ¯āĻžāĻ‚āĻ• āĻ¸āĻ‚āĻ•āĻŸā§‡ 1897: 990:"US panel exposes governance failure at HSBC" 847: 845: 843: 505:Bangladesh Securities and Exchange Commission 1631: 1625: 1332:"Destroying the economy to save the thieves" 1219:"Major changes in Islami Bank key positions" 1068:"HSBC 'helped Islami Bank to fund al-Qaeda'" 1656: 1040:"SIBL, Islami Bank clarify their positions" 2113:South Bangla Agriculture and Commerce Bank 1904: 1890: 1725:"Best Islamic Finance Institutions – 2008" 1583:"Another Islami Bank top official resigns" 840: 48: 36: 2356:Bangladeshi companies established in 1983 912:. Bangladesh Institute of Bank Management 2159:Export Import Bank of Bangladesh Limited 1662: 1143:"JP Morgan clients buy into Islami Bank" 810: 808: 806: 804: 802: 1481: 569: 14: 2338: 1777:"Islamic Bank Awards 2011: By Country" 1357: 1140: 1115: 1090: 937: 457:Ananda Shipyard & Slipways Limited 1885: 1407: 1353: 1351: 1329: 1300: 1298: 1296: 1294: 1292: 1245: 1241: 1239: 1062: 1060: 1015:"Terror financed due to HSBC failure" 933: 931: 929: 927: 851: 799: 1663:Al Mamun, Firoz (21 February 2013). 902: 379:Islami Bank Bangladesh PLC. (IBBPLC) 558: 42:Logo of Islami Bank Bangladesh PLC. 24: 2164:First Security Islami Bank Limited 1348: 1289: 1273:"'Nasty November' for Islami Bank" 1236: 1118:"Islami Bank stung by shipbuilder" 1057: 940:"The rise and fall of Islami Bank" 924: 880:"About IBBL:Corporate Information" 780:. 31 December 2019. Archived from 748:. 31 December 2019. Archived from 716:. 31 December 2019. Archived from 684:. 31 December 2019. Archived from 652:. 31 December 2019. Archived from 442:main production base outside China 25: 2367: 1850: 1701:. 16 October 2010. Archived from 1270: 938:Taiyeb, Faiz Ahmad (2022-12-06). 2321: 1330:Jamal, Eresh Omar (2022-12-04). 965:"Islami Bank Bangladesh Limited" 910:"Islami Bank Bangladesh Limited" 854:"Islami Bank Bangladesh Limited" 576: 334: 333: 307: 306: 280: 279: 253: 252: 226: 225: 1821: 1795: 1769: 1743: 1717: 1687: 1600: 1575: 1550: 1525: 1500: 1475: 1451: 1426: 1408:Uddin, AKM Zamir (2022-11-29). 1401: 1376: 1323: 1264: 1246:Uddin, AKM Zamir (2019-06-30). 1211: 1186: 1159: 1141:Rahman, Sajjadur (2015-11-23). 1134: 1116:Rahman, Sajjadur (2013-07-29). 1109: 1091:Rahman, Sajjadur (2013-09-12). 1084: 1032: 1007: 982: 957: 852:Mazid, Muhammad Abdul (2012). 767: 735: 703: 671: 639: 613: 387:āĻ‡āĻ¸āĻ˛āĻžāĻŽā§€ āĻŦā§āĻ¯āĻžāĻ‚āĻ• āĻŦāĻžāĻ‚āĻ˛āĻžāĻĻā§‡āĻļ āĻĒāĻŋāĻāĻ˛āĻ¸āĻŋ. 13: 1: 2174:Shahjalal Islami Bank Limited 2154:Al-Arafah Islami Bank Limited 1482:Mortoza, Golam (2022-12-06). 866:Asiatic Society of Bangladesh 607: 411:Chittagong Stock Exchange Ltd 2270:Rajshahi Krishi Unnayan Bank 1877:Islami Bank Internet Banking 1358:Parvez, Sohel (2023-02-24). 627:(in Bengali). 23 August 2024 515:Major Shareholders of IBBPLC 7: 2346:Islamic banks of Bangladesh 1972:Bangladesh Development Bank 1913:List of banks in Bangladesh 1634:"Islamic banking on a roll" 1175:(in Bengali). 26 April 2018 602:List of banks in Bangladesh 31:Islami Bank Bangladesh PLC. 10: 2372: 2179:Social Islami Bank Limited 2169:Islami Bank Bangladesh Ltd 860:; Jamal, Ahmed A. (eds.). 431:Middle Eastern countries. 416: 389:), more commonly known as 18:Islami Bank Bangladesh Ltd 2351:Banks established in 1983 2319: 2283: 2257: 2230:National Bank of Pakistan 2215:Commercial Bank of Ceylon 2197: 2146: 1985: 1944: 1935: 1919: 407:Dhaka Stock Exchange Ltd. 386: 362: 352: 325: 298: 271: 244: 221: 195: 181:Md. Ashraful Haque, FCA ( 169:Md Obayed Ullah Al Masud( 163: 150: 124: 106: 92: 66: 56: 47: 35: 1998:Bangladesh Commerce Bank 1699:Bangladesh Business News 1167: 521:Islamic Development Bank 493:Md Nazrul Islam Talukder 344:(US$ 680 million) ( 317:(US$ 9.7 billion) ( 263:(US$ 370 million) ( 236:(US$ 750 million) ( 216:Foreign Exchange Banking 175:Mohammed Monirul Moula ( 1857:IBBPLC Official Website 290:(US$ 47 million) ( 187:J Q M Habibullah, FCS ( 183:Chief Financial Officer 2301:Ansar-VDP Unnayan Bank 2265:Bangladesh Krishi Bank 2133:United Commercial Bank 536:Luxembourg Islami Bank 128:Islami Bank Tower 40, 112:; 41 years ago 61:Public Limited Company 2275:Probashi Kallyan Bank 1862:IBBPLC iBanking Login 1310:The Business Standard 592:Banking in Bangladesh 884:www.islamibankbd.com 570:See also about Banks 532:Kuwait Finance House 2296:Karmasangsthan Bank 2240:State Bank of India 1675:on 12 December 2013 1644:on 13 December 2013 1271:Sakib, Shanaullah. 864:(Second ed.). 539:Three ministers of 467:Change of Ownership 354:Number of employees 32: 2311:Palli Sanchay Bank 2235:Standard Chartered 2220:Habib Bank Limited 2189:Union Bank Limited 2033:Global Islami Bank 1977:BASIC Bank Limited 1731:. 19 February 2009 1705:on 8 December 2015 1632:Md Fazlur Rahman. 787:on 1 December 2022 755:on 1 December 2022 723:on 1 December 2022 691:on 1 December 2022 659:on 1 December 2022 527:Dubai Islamic Bank 212:Investment Banking 110:30 March 1983 101:Financial services 30: 27:Bank in Bangladesh 2333: 2332: 2253: 2252: 2063:Mutual Trust Bank 503:In January 2023, 497:Khizir Hayat Lizu 397:company based in 376: 375: 208:Corporate Banking 189:Company Secretary 177:Managing Director 16:(Redirected from 2363: 2325: 1942: 1941: 1906: 1899: 1892: 1883: 1882: 1845: 1844: 1842: 1840: 1825: 1819: 1818: 1816: 1814: 1799: 1793: 1792: 1790: 1788: 1773: 1767: 1766: 1764: 1762: 1747: 1741: 1740: 1738: 1736: 1721: 1715: 1714: 1712: 1710: 1691: 1685: 1684: 1682: 1680: 1671:. Archived from 1660: 1654: 1653: 1651: 1649: 1640:. Archived from 1629: 1623: 1622: 1620: 1619: 1604: 1598: 1597: 1595: 1594: 1579: 1573: 1572: 1570: 1569: 1554: 1548: 1547: 1545: 1544: 1529: 1523: 1522: 1520: 1519: 1504: 1498: 1497: 1495: 1494: 1479: 1473: 1472: 1470: 1469: 1455: 1449: 1448: 1446: 1445: 1430: 1424: 1423: 1421: 1420: 1405: 1399: 1398: 1396: 1395: 1380: 1374: 1373: 1371: 1370: 1355: 1346: 1345: 1343: 1342: 1327: 1321: 1320: 1318: 1317: 1302: 1287: 1286: 1284: 1283: 1268: 1262: 1261: 1259: 1258: 1243: 1234: 1233: 1231: 1230: 1215: 1209: 1208: 1206: 1205: 1190: 1184: 1183: 1181: 1180: 1163: 1157: 1156: 1154: 1153: 1138: 1132: 1131: 1129: 1128: 1113: 1107: 1106: 1104: 1103: 1088: 1082: 1081: 1079: 1078: 1064: 1055: 1054: 1052: 1051: 1036: 1030: 1029: 1027: 1026: 1011: 1005: 1004: 1002: 1001: 986: 980: 979: 977: 975: 961: 955: 954: 952: 951: 935: 922: 921: 919: 917: 906: 900: 899: 897: 895: 886:. Archived from 876: 870: 869: 849: 838: 837: 835: 834: 812: 797: 796: 794: 792: 786: 779: 771: 765: 764: 762: 760: 754: 747: 739: 733: 732: 730: 728: 722: 715: 707: 701: 700: 698: 696: 690: 683: 675: 669: 668: 666: 664: 658: 651: 643: 637: 636: 634: 632: 617: 586: 581: 580: 579: 559:Awards of IBBPLC 388: 372: 369: 343: 341: 337: 336: 330: 316: 314: 310: 309: 303: 289: 287: 283: 282: 262: 261:43.79.74 billion 260: 256: 255: 247:Operating income 235: 233: 229: 228: 204:Consumer Banking 200:Banking services 120: 118: 113: 52: 40: 33: 29: 21: 2371: 2370: 2366: 2365: 2364: 2362: 2361: 2360: 2336: 2335: 2334: 2329: 2315: 2279: 2249: 2193: 2142: 2053:Mercantile Bank 1981: 1931: 1927:Bangladesh Bank 1915: 1910: 1853: 1848: 1838: 1836: 1827: 1826: 1822: 1812: 1810: 1801: 1800: 1796: 1786: 1784: 1775: 1774: 1770: 1760: 1758: 1749: 1748: 1744: 1734: 1732: 1723: 1722: 1718: 1708: 1706: 1693: 1692: 1688: 1678: 1676: 1661: 1657: 1647: 1645: 1630: 1626: 1617: 1615: 1606: 1605: 1601: 1592: 1590: 1581: 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Bank 582: 577: 575: 572: 561: 517: 419: 395:Islamic banking 366: 355: 339: 338: 326: 315:1142.18 billion 312: 311: 299: 285: 284: 276: 258: 257: 249: 231: 230: 214: 210: 206: 186: 180: 174: 166: 153: 146: 142: 116: 114: 111: 99: 81: 71: 43: 28: 23: 22: 15: 12: 11: 5: 2369: 2359: 2358: 2353: 2348: 2331: 2330: 2320: 2317: 2316: 2314: 2313: 2308: 2303: 2298: 2293: 2287: 2285: 2281: 2280: 2278: 2277: 2272: 2267: 2261: 2259: 2255: 2254: 2251: 2250: 2248: 2247: 2242: 2237: 2232: 2227: 2222: 2217: 2212: 2207: 2201: 2199: 2195: 2194: 2192: 2191: 2186: 2181: 2176: 2171: 2166: 2161: 2156: 2150: 2148: 2144: 2143: 2141: 2140: 2135: 2130: 2125: 2120: 2118:Southeast Bank 2115: 2110: 2105: 2100: 2095: 2090: 2085: 2080: 2075: 2070: 2065: 2060: 2058:Modhumoti Bank 2055: 2050: 2045: 2040: 2035: 2030: 2025: 2020: 2015: 2013:Community Bank 2010: 2005: 2000: 1995: 1989: 1987: 1983: 1982: 1980: 1979: 1974: 1969: 1964: 1959: 1954: 1948: 1946: 1939: 1933: 1932: 1930: 1929: 1923: 1921: 1917: 1916: 1909: 1908: 1901: 1894: 1886: 1880: 1879: 1874: 1869: 1864: 1859: 1852: 1851:External links 1849: 1847: 1846: 1833:Global Finance 1820: 1807:Global Finance 1794: 1781:Global Finance 1768: 1755:Global Finance 1742: 1729:Global Finance 1716: 1686: 1655: 1638:The Daily Star 1624: 1612:The Daily Star 1599: 1587:The Daily Star 1574: 1562:The Daily Star 1549: 1537:The Daily Star 1524: 1512:The Daily Star 1499: 1488:The Daily Star 1474: 1450: 1438:The Daily Star 1425: 1414:The Daily Star 1400: 1388:The Daily Star 1375: 1364:The Daily Star 1347: 1336:The Daily Star 1322: 1288: 1263: 1252:The Daily Star 1235: 1223:The Daily Star 1210: 1198:The Daily Star 1185: 1158: 1147:The Daily Star 1133: 1122:The Daily Star 1108: 1097:The Daily Star 1083: 1056: 1044:The Daily Star 1031: 1019:The Daily Star 1006: 994:The Daily Star 981: 956: 944:The Daily Star 923: 901: 890:on 12 May 2020 871: 858:Islam, Sirajul 839: 822:. 2017-08-24. 798: 766: 734: 702: 670: 638: 611: 609: 606: 605: 604: 599: 594: 588: 587: 571: 568: 564:Global Finance 560: 557: 549: 548: 543: 537: 534: 529: 524: 516: 513: 509:Md Shahabuddin 474:Jamat-e-Islami 418: 415: 374: 373: 364: 360: 359: 356: 353: 350: 349: 331: 323: 322: 304: 296: 295: 277: 272: 269: 268: 250: 245: 242: 241: 223: 219: 218: 197: 193: 192: 167: 164: 161: 160: 159:& overseas 154: 151: 148: 147: 144: 137: 126: 122: 121: 108: 104: 103: 94: 90: 89: 72: 67: 64: 63: 58: 54: 53: 45: 44: 41: 26: 9: 6: 4: 3: 2: 2368: 2357: 2354: 2352: 2349: 2347: 2344: 2343: 2341: 2328: 2324: 2318: 2312: 2309: 2307: 2304: 2302: 2299: 2297: 2294: 2292: 2289: 2288: 2286: 2284:Non-scheduled 2282: 2276: 2273: 2271: 2268: 2266: 2263: 2262: 2260: 2256: 2246: 2243: 2241: 2238: 2236: 2233: 2231: 2228: 2226: 2223: 2221: 2218: 2216: 2213: 2211: 2208: 2206: 2203: 2202: 2200: 2196: 2190: 2187: 2185: 2184:Standard Bank 2182: 2180: 2177: 2175: 2172: 2170: 2167: 2165: 2162: 2160: 2157: 2155: 2152: 2151: 2149: 2145: 2139: 2136: 2134: 2131: 2129: 2126: 2124: 2123:The City Bank 2121: 2119: 2116: 2114: 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Index

Islami Bank Bangladesh Ltd


Public Limited Company
Traded as
DSE
ISLAMIBANK
CSE
ISLAMIBANK
Banking
Financial services
Dilkusha C/A
Motijheel
Dhaka
Bangladesh
Chairman
Managing Director
Chief Financial Officer
Company Secretary
Banking services
Consumer Banking
Corporate Banking
Investment Banking
Foreign Exchange Banking
Operating income
Net income
Total assets
Total equity
islamibankbd.com
Bengali

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