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31st AGM : IBBL approves 18% dividend

31st AGM : IBBL approves 18% dividend
Islami Bank Bangladesh Limited approved 18% Dividend comprising 10% stock and 8% cash for the Shareholders for the year 2013.

This dividend was approved in the 31st Annual General Meeting of the Bank held on Saturday, May 31, 2014 at Bangabandhu International Conference Centre, Dhaka. Presided over by Prof. Abu Nasser Muhammad Abduz Zaher, Chairman of the Bank, the meeting also approved balance sheet up to 31st December 2013, Profit and Loss Account and Reports of the Directors and Auditors of the Bank. Yousif Abdullah Al-Rajhi of Saudi Arabia, Vice Chairman, Mohammad Abdullah Al Jalahma, Director and representative Kuwait Awqaf Foundation and Dr. Areef Suleman, IDB representative spoke on the occasion. Islami Bank directors from home and abroad, shareholders, Managing Director Mohammad Abdul Mannan along with other top executives of the Bank were present in the meeting.

Yousif Abdullah Al-Rajhi of Saudi Arabia, Dr. Abdulhameed Fouad Al-Khateeb, Repr. of Arabsas Travel & Tourist Agency of Saudi Arabia, Engr.Md. Eskander Ali Khan, Repr. of Al-Rajhi Co. for Industry & Trade Industrial Division, Riyadh, K.S.A, Md. Abul Hossain, Repr. of Investment Corporation of Bangladesh were elected Directors of the Bank in the meeting.

Prof. Abu Nasser Mohammad Abduz Zaher in his presidential speech said Islami Bank belongs to 16 crore people of Bangladesh. He said, Islami Bank has now been termed as the leading commercial bank in Bangladesh with the confidence and love of people of the country and for this reason success of the bank remains unshaken. He expressed gratitude and thanks to the Government and all regulators along with Bangladesh Bank, shareholders, clients, well-wishers and mass people of the country for extending their supports and caring.

IBBL chairman said the best customer service is our commitment, Shariyah compliance is our obligation and the faith of clients is our assets. Our aim is to develop the Socio-economic situation of the country through up-lift of living standard of the people.

IBBL has been working for meeting up the basic needs viz food, clothing and accommodation to all people irrespective of religion, cast, sect and color. Prof. Abu Nasser Mohammad Abduz Zaher added that IBBL has become a model bank by conducting banking operations through transparency and accountability.

Yousif Abdullah Al-Rajhi of Saudi Arabia said, Islami Bank has been playing role in developing economy and upgrading the living standard of the people. He said, investment in Islami Bank is the best investment among other investment made in different country of the world since the base of the bank is very strong and its activities are very transparent. He said, the quality of the Bank is international standard though it is operated locally. He expressed eagerness to expand their business in Bangladesh through purchasing more share of Islami Bank.

Mohammed Abdullah Al Jalahma said, Islami Bank holds the continuation of its success in business locally amid hostile business environment by virtue of cooperation of management, executives-officials, and depositors of the Bank. Refusing the rumor of selling IBBL share, he strongly declared to purchase more shares if opted on behalf of four sponsoring organization of Kuwait- Kuwait Finance House, Kuwait Awqaf Public Foundation, Public Institution for Social Security, Kuwait and Public Authority for Minors Affairs, Kuwait.

Islamic Development Bank Representative Dr. Areef Suleman said, IDB has been successfully implementing various projects for devastated people in the country by cooperation of Islami Bank. Besides, IBBL has been playing pioneering role in expanding Islamic Banking across the globe which is really credit worthy. He said, investment in Islami Bank is the best investment of IDB made in other IBD member countries and it also deserves favor.

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