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Islami Bank Bangladesh Limited is inaugurating `Urban Poor Development Scheme’
Islami Bank Bangladesh Limited is inaugurating `Urban Poor Development Scheme’
Islami Bank Bangladesh Limited has launched a new investment scheme for urban poor people titled ‘Urban Poor Development Scheme’ with a view to eradicate poverty of ultra poor urban people on Monday, May 14, 2012 at Muhammad Younus Auditorium of Islami Bank Tower. Prof. Abu Nasser Muhammad Abduz Zaher, Chairman of the Bank inaugurated the scheme as Chief Guest. Presided over by Mohammad Abdul Mannan, Managing Director of the Bank the function was addressed by Mohammad Abdullah Al Jalahma, repr. of Kuwait Awqaf Public Foundation Safat, Kuwait and Director of the Bank. SAM Saleh, Deputy Managing Director, Retail Investment Division addressed the welcome speech and of the Bank Abu Syed & Umme Kulsom Lopa addressed on behalves of new investment clients. The function was attended by Engr. Mustafa Anwar, Vice Chairman, Engr. Md. Eskandar Ali Khan, Chairman, Executive Committee, Md. Shahidul Islam, Chairman, Audit Committee, Mohammad Adnan Midani, Hafizul Islam Mian, Engr. Muhammad Daood Khan, Mohammed Nazrul Islam, Mominul Islam Patwary, Md. Abul Hossain, Directors and top executives of the Bank.

The main objective of this scheme is to alleviate urban poverty through investment in income generating activities specially the slum dwellers. Financial activities will be divided into two parts. Firstly Investment on income generating activities for marginal poor from Bank fund and secondly investment on income generating activities for hardcore poor from charity like Zakat and Sadaqa. Five investment clients received investment sanction advice. Rajia Khatun for Mobile SIM business, Hafeja Khatun for buying rickshaw, Abu Syed for cloth business, Fatemea for mobile business and Firoja Begum took investment for paper packet.

Prof. Abu Nasser Muhammad Abduz Zaher in his speech as Chief Guest said that Islami Bank is not only the Bank of the rich rather it is the Bank of all people. He said that IBBL works for the welfare of the poor people from the very inception of the Bank and the welfare activities will be enriched in the future. He said that the newly launched scheme will play vital role to alleviate the poverty and generating self employment. He also said that IBBL promotes investment for those people who love the country and like to work for its development. He urged to work for economic development of the country by taking investment from this scheme.

Mohammad Abdul Mannan in his presidential speech said Islami Bank is working to remove poverty since its inception. He said Islami Bank is connecting the poor people with financial activities to the minimize the gap between rich and poor.

Mentionable that Islami Bank Bangladesh Limited launched its microfinance program for the rural poor under the name and style of “Rural Development Scheme (RDS)” in the year 1995. The Scheme has now been operated successfully through 185 designated branches of the Bank by providing about 14,000 villages of the country. Cumulative disbursement under the scheme Tk. 46,875.41 million. Meantime, the scheme has become a prestigious program of the Bank having international reputation and Islamic microfinance model

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