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Import Business
Export Business
Foreign Remittance
Foreign Exchange Treasury activities
The achievement of Islami Bank Bangladesh Limited in the area of foreign exchange
business has been quite phenomenal. The Bank has been providing services to import and
export trade and for repatriation of hard earned foreign exchange of the countrymen
working abroad and has by-now, consolidated its position in these areas.
Growth
The Foreign Exchange business of the Bank has been a success story. By-now, IBBL has
established itself as one of the leading bank of the country in foreign exchange business.
Total foreign exchange business of the Bank stood at Taka 402695.00 million at the end
of 2008. The Bank made the highest contribution in the countries import, export and
remittance. The bank has been playing a vital role in earning valuable foreign exchange
for the country from export and remittance services. Foreign Exchange business in 2008
registered a growth of 37% on the preceding year. The table below shows the picture of
foreign exchange business of the bank in the last 26 years growth trend.
Apart from a few exceptions, the bank always maintained a healthy growth in foreign
exchange. In the last 5 years the Bank maintained over 30% growth
Import
Export
Remittance
Total F. Ex Growth
Business
Rate
1983
1984
1985
1986
1987
1988
1989
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
10.80
861.60
978.42
1800.61
1578.45
2015.30
3394.90
3917.70
6204.27
8778.51
8612.70
14623.43
21218.38
17874.80
17370.00
20238.30
20396.00
25327.00
25907.00
33788.00
46237.00
59804.00
74525.00
96870.00
137086.00
168329.00
63.70
265.00
622.42
971.15
1349.70
1543.80
2588.30
3966.58
4948.81
5841.64
7790.42
11015.75
11766.40
14469.40
14894.30
14798.00
16889.00
16082.00
16673.00
21738.00
29151.00
36169.00
51133.00
66690.00
93962.00
443.80
492.38
1172.71
1424.64
1125.40
901.60
1339.90
1814.13
2028.59
2402.51
2943.00
2447.21
3328.30
4806.00
6360.60
8415.00
7644.00
9879.00
14670.00
16668.00
23669.00
36948.00
53189.00
84143.00
140404.00
10.80
1369.10
1736.80
3595.74
3974.24
4490.40
5840.30
7845.90
11984.98
15755.91
16856.85
25356.85
34681.34
32969.50
36645.40
41493.20
43609.00
49860.00
51868.00
65131.00
84643.00
112624.00
147642.00
201822.00
287919.00
402695.00
27%
107%
11%
13%
30%
34%
53%
31%
7%
50%
37%
-5%
11%
13%
5%
14%
4%
26%
30%
33%
31%
37%
43%
40%
Treasury Activities
IBBL is now actively participating in the Inter Bank Foreign Exchange market through its
Dealing Room in order to meet internal requirements as well as to contribute in the InterBank has now reached to 14% at the end of 2008. The Forex Treasury of the Bank is
housed at the Head office and managed by International Banking Wing.
Foreign Correspondence
In order to meet the customer needs all over the world, the bank has developed a wide
network with more than 919 Foreign Correspondent Banks.
OPERATING RESULTS
The Bank earned handsome amount of profit every year since its inception. Gross Income
of the Bank as on 31st December 2007 was Taka 17,699.52 million as against Taka
14,038.30 million during the preceding year.
Dividend
4.41%
5.00%
15.00%
13.00%
15.00%
15.00%
15.00%
15.00%
18.00%
20.00%
21.00%
21.00%
21.00%
25.00%
25.00%
25.00%
20.00%
20.00%
25.00%
15% cash+ 10% bonus
25% stock
Islami Bank could also maintain the Capital Adequacy ratio and provide for loans and
advanced considered bad and doubtful of recovery up-to the level as stipulated by the
monetary Authority of the country.
RATING REPORT
Credit Rating Information and Services Ltd- CRISL [a joint venture rating agency of
Rating Agency Malaysia Berhad (RAM), JCR- VIS Credit Rating Company Ltd.,
Pakistan, Prime Commercial Bank Ltd., Pakistan and Local Corporate/ Sponsors,
Bangladesh] was engaged by the bank.
The CRISL submitted its report on financial year 2007 and assigned AA for long term
rating scale.
Financial Institutions rated in this category are adjudged to be of high quality, offer
higher safety and have high credit quality. This level of rating indicates a corporate entity
with a sound credit profile and without significant problems. Risks are modest and may
very slightly from time to time because of economic conditions.
CRISL assigned ST-1 (High Grade) for short term rating scale for 2007.
Financial Institutions rated in this category means having highest certainty of timely
payment. Short-term Liquidity including internal fund generation is very strong and
access to alternative sources of funds is outstanding; Safety is almost like risk free
Government short-term obligations.
EXPANSION OF BRANCHES
The Bank started its journey in 1983 with only 3 branches, one each in Dhaka
Metropolis, Chittagong and Sylhet. As on 31-12-2008 the total number of branches stood
at 196. The Bank has also opened 10 new SME service centers in 2008. 15 more new
branches will be opened within the year of 2009. The Bank intends to deliver its services
to entire of Bangladesh during the next few years by opening branches to each and every
Upazilla Headquarters and growth centers of the country.
11 (eleven) Administrative Offices/ Zones are functioning all over the country for
effective control, close supervision and proper monitoring of the total operations of the
branches as well as assisting in the development of business.
MANPOWER
The manpower of the Bank is increasing steadily and proportionately with the expansion
of branches and activities of the Bank. At the end of 2008, the total manpower of the
Bank stood at 9399 which was 8426 in 2007. The Bank is trying to ensure optimum
utilization of its manpower by improving the standard of their efficiency and quality of
their service.
DEVELOPMENT
OF
MANPOWER,
TRAYNING AND MOTIVATION
RESEARCH,
The principles and working procedures of Islamic Banks are completely new and
different from the conventional banks. There is an inevitable need for training of the
employees of the banks to orient and attune them, to the new system of the Islami
banking. To cater to this need, Islami Bank Training and Research Academy (IBTRA)
was established in 1984, soon after the inception of the bank.
The activities of IBTRA cover both training and research on various aspects of Islamic
Banking. The Academy developed a rich library of its own with a treasure of valuable
books on different subjects including Islamic economics, banking, comparative
philosophies and journals of home and abroad and research articles and documents.
Employees of the Bank, learners and researches have been taking full advantage of the
library.
PUBLICATION
The Academy edited books on Readings in Islamic Banking and Investment
Operations. It also edited and published a brochure on Investment and Trade
opportunities in Bangladesh. The Academy publishes a research journal titled Journal
of Islamic economics and Finance.
Banks quarterly research journal Islami banking highlighting the concept of Islamic
economy, banking, insurance, prospect of economic collaboration among the Muslim
countries etc. started its Publication by Public Relation Department of the bank in 1992
which has been widely acclaimed by all sections of people including academicians,
economists, bankers, journalists, judges, intellectuals etc. Periodical house magazines
named Islami Bank Parikrama and Islami Bank Palli Unnyan Barta and half yearly
English news bulletin Islami Bank Newsletter are being published regularly as the
mouthpiece of the Bank. The bank is also providing financial assistant for publication of
a textbook on Islamic Economics and Banking for the university students.
Discussion meetings, seminars symposia, workshop are also being arranged to appraise
the people of the Islamic banking system. Stalls and booths were opened in different
national and international fairs for projecting the activities of the bank.
Academic Council
Keeping in view the existing and future training requirement of the Bank and also to
generally cater such needs of different Islamic banking & financial institutions of this
region, the management of Islami Bank Training and Research Academy has been placed
at the disposal of an Academic Council consisting of 3 Directors of the Board,
management executives of the Bank, Shariah scholars, renowned academicians and
representatives of the reputed institutions engaged in the training of bank officials of the
country.
Training Courses
The Academy conducts training courses, and workshops. The courses include Islamic
Banking, Banking Law and Practice, Investment Operations and Management, Foreign
Trade and Foreign Exchange, Shariah Based Audit and Inspection.
Besides, orientations, induction, foundation and motivation courses on different subjects
are also round the year. In addition to conducting regular training courses, it arranges
seminar on Islamic economics and banking and such other related topics of current
interest.
Internship Programme
The Academy conducts internship courses for the students of different departments of
various universities of the country.
International Seminar
The Bank, in 1993, co sponsored a three day international seminar on Islamic Common
Market in which scholars, economists, bankers, industrials and representatives of trade
bodies of 15 countries participated. The Bank, with the collaboration of International
Association of Islamic Banks ( IAIB), organized an International Seminar on Islamic
Banking in 1985 and another International Seminar on Islamic banking and Insurance in
1989.
b. Website
The Website of IBBL (www. Islamibankbd.com) is being maintained regularly where all
necessary and up-to date information, news and events of IBBL are provided including
financial position, branch information and foreign correspondence, Annual Report,
Account opening forms etc. Visitors, Economists, Ph.d students, researchers around the
world are using the site conveniently for different purposes.
c. SWIFT
IBBL has become a member of SWIFT (Society for Worldwide inter-Bank Financial
Tele- communication) in 1999 and thus providing a secured and accurate communication
network for financial transactions including L/C, Remittance etc. SWIFT has been
installed at all 35 AD (Authorized dealer in Foreign Exchange Business) Branches up-to
31.12.2005 for rendering better services to the Importers, Exporters and Remittance
business.
d. REATERS
In todays globally connected world, information faster than the speed of light brings
organizational success. For ensuring maximum strategic advantages through access to
global information, the Bank has also become a member of REATERS. This membership
allows the Bank to receive regular up dated information regarding exchange rates, metal
markets and other commodity prices, which help IBBL in making correct and prompt
business decisions.
Rickshaw
Sewing
Poultry keeping
Rural Health Work
Milching cow/ goat rearing
Small trade/ shop keeping
Educational Programmes
Education is the backbone of a nation. Awareness building, skill training, access to
information- all depends on education. But it is regrettable that the rate of literacy is still
very low in Bangladesh. The foundation has, therefore, taken up the following
programmes to improve the countrys educational scenario:
a) Support to Model Forqania Maktab
b) Scholarship/ Lump- sump grant for poor and meritorious students
c) Financial support to Educational Institutions.
Dawah Programmes
One important objective of Islami Bank Foundation is to disseminate the true message
and teachings of Islam. The Foundation has taken up various schemes to enlighten the
common people as well as the elite and make them familiar with the concept of Islam.
Islamic research magazines and other Islamic Literatures are being distributed among the
Academicians, Journalists, Justices, Lawyers, High official, Bankers, Laureates and
important Libraries and institutions of the country. The Foundation is also working
among the prisoners for their moral reforms.
SPECIAL SCHEMES
A. Islami Bank Hospital
With the objective of providing low- cost curative services to the less affluent segment of
the society, the Foundation has so far set up Hospitals at 4 divisional headquarters in
Dhaka, Rajshahi, Khulna and Barisal.
B. Community Hospital
Besides establishing Hospitals at the divisional headquarters, IBF has a plan to assist
local initiatives in setting up Hospitals at District level.
D. Service Center
To save the people learning in the coastal and river belt from natural disaster, erosion etc.
a special project has been taken in the name and style of Service Center. Under this
programme, pucca structure constructed in coastal areas, river belts and offshore islands
would be used for integrated social development of the people as well as provide safe
shelters during natural calamities.
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