Islami Bank Bangladesh Limited has been working since 1983 in the view to establish a welfare oriented Islami Banking system and also to ensure equity and justice in the field of all economic activities, achieve balanced growth and equitable development through diversified investment operations particularly in the priority sectors and less developed areas of the country and to encourage socio-economic uplift and financial services to the low income community, particularly in the rural areas. Since inception of the Bank, it has been giving priority in financing SMEs.
Formation of SME Division
The Board in its emergent meeting held on 02.11.2005 approved a memo bearing No. 2005/155 with the following resolution:
“Resolved that the investment in Small Enterprise shall be made in accordance with the terms and conditions contained in the Annexed “Comprehensive Small Enterprise Investment Policy” and SME Division under Investment Wing shall be established with necessary restructuring and duly manning with adequate officials as proposed.”
In order to emphasize SME investment, to run its SME functions smoothly and to strengthen the SME activities of the bank, it has created a separate Division namely “Small and Medium Enterprise Division” in 2009.
Specialized SME Branches
As per guideline and regulation of Bangladesh Bank, the Board of Directors of the Bank has selected a good number of SME prone areas, where Specialized SME/Agriculture Branches are being opening in order to facilitate the potential entrepreneurs in accessing to the finance from Sharia’h based banking sector. So far nos. of such Specialized SME Branches have been opened and more such Branches shall be opened at the SME prone areas by order.