The establishment of Islamic Bank Bangladesh Limited on March 13, 1983, is the true reflection of this inner urge of its people, which started functioning with effect from March 30, 1983. This Bank is the first of its kind in Southeast Asia. It is committed to conduct all banking and investment activities on the basis of interest-free profit-loss sharing system.
With the active co-operation and participation of Islamic Development Bank (IDB) and some other Islamic banks, financial institutions, government bodies and eminent personalities of the Middle East and the Gulf countries, Islamic Bank Bangladesh Limited has by now earned the unique position of a leading private commercial bank in Bangladesh. Corporate information: (As on Diary 2012 of IBBL) Date of Incorporation| 13th March 1983| Inauguration of 1st Branch (Local office, Dhaka)| 30th March 1983| Formal Inauguration| 12th August 1983| Share of Capital| a.
Local Shareholders| 41. 43%| b. Foreign Shareholders| 58. 57%| Authorized Capital| Tk. 20,000. 00 million| Paid-up Capital| Tk. 10007. 71 million| Deposits | Tk. 335578. 00 million | Investments (including Investment in Shares)| Tk. 329906. 00 million | Foreign Exchange Business| Tk. 610199. 00 million | Number of BranchesincludingSME/ Agricultural Branches| 276| Number of Zone| 7| Number of Shareholders| 60564| Manpower| 10986| No. of ATM Booth including Own & Share| 1100| MISSION OF IBBL To establish Islamic banking through the introduction of a welfare oriented anking system and also 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, to encourage socio-economic uplift and financial services to the low income community particularly in the rural areas. VISION OF IBBL The vision of IBBL is to always strive to achieve superior financial performance, be considered a leading Islamic Bank by reputation and performance. ??
The Essay on Deutsche Bank Ag Retail Investment Banking
Walker, M. (October 23, 2000). Deutsche Bank Plans to Make Its Retail Unit A Stock Outlet. The Wall Street Journal (pg A 29-30) This article is about Deutsche Bank AG tried to sell its retail business in order to concentrate on corporate and investment banking six month ago and it is now working on a plan to change its retail unit into a pan-European outlet for stocks, mutual funds and other ...
To establish and maintain the modern banking technology, to ensure the soundness and development of the financial system based on Islamic principles and become the strong and efficient organization with highly motivated professionals, working for the benefit of people, based upon accountability, transparency and integrity in order to ensure stability of financial system. ?? Try to encourage savings in the form of direct investment ?? Try to encourage in economic investment particularly in projects, which are more likely to lead the higher employment. Objectives of IBBL
The primary objective of establishing Islami bank Bangladesh ltd. is to promote, foster and develop the application of Islamic principles in the business sector. More specifically, the objectives of Islamic banking when viewed in the context of its role in the economy are listed as following: ?? To establish a partnership relationship with customers and to eliminate the idea of the debtor-creditor relationship of traditional banks. ?? To establish welfare oriented banking system; ?? To mobilize savings towards productive sectors; ?? To invest on profit and risk sharing basis; ??
To invest in those businesses sectors that is from the religiously found legal ?? To accept deposits on profit and loss sharing basis. ?? To create employment opportunities by investing savings towards prospective economic sectors. ?? To extend banking services towards the poor, helpless and low-income group of people in the society in order to uplift of their standard of living. ?? To contribute to establishment of a society by equitable distribution of wealth ?? To establish justice in trade and commerce in the country; ?? To develop morals among the people and to establish the shariah in the field of trade and commerce; ? To render services for the economic development of the nation. ?? To contribute towards establishment of an Islamic Economic System in the Country. SPECIAL FEATURES OF IBBL The bank is committed to run all its activities as per Islamic Shariah. IBBL through its steady progress and continuous success has earned the reputation of being one of the leading Private Sector Banks’ of the country. The distinguishing features of IBBL are as follows: * All activities are conducted on interest-free banking system in accordance with Islamic Shari’ah. * Investment is made through different modes permitted under
The Essay on Bank of America Mobile Banking
Brown, who was responsible for the development and launch of mobile banking, reported on the current status, "In less than three years we have four million mobile banking customers. Brown was hesitant to make the bank's mobile app complex by adding more features. The added complexity could slow down the app and negatively affect user experience. He explained, "App comple xity has led to some high- ...
IslamiShari’ah. * Establishment of participatory banking instead of banking on debtor-creditor relationship. * Investment income of the Bank is shared with the Mudaraba depositors according to a ratio to ensure a reasonable fair rate of return on their depositors. * Its aims are to introduce a welfare-oriented banking system and also to establish equity and justice in the field of all economic activities. * It extends Socio-economic and financial services to the poor, helpless and low-income group of the people for their economic enlistment particularly in the rural areas. It plays a vital role in human resource development and employment generation particularly for the unemployment youths. * Its aim is to achieve balanced growth and equitable development of the county through diversified investment operations particularly in the priority sectors and in the less developed areas. * It extends co-operation to the poor, the helpless and the low-income group for their economic development MANAGEMENT OF IBBL Islami Bank Bangladesh limited is being managed by a board of directors comprising foreigners and local.
The Essay on United States President Bank Party
26. Nicholas Biddle- American diplomat and financier He later became a contributor to Port Folio, a leading literary journal He tried unsuccessfully to gain a new federal charter for the bank, but in 1836 he secured a state charter and the bank was thereafter known as the Bank of the United States of Pennsylvania. Biddle resigned as president of the bank in 1839. 27. Roger Taney- American jurist ...
An executive committee is formed by the board of directors for efficient and smooth operation of the Bank. Besides a management committee looks after the affairs of the bank. STRUCTURE OF THE ORGANIZATION: Executive President (EP) Deputy Executive President (DEP) Executive Vice President ( EVP) Senior Vice President (SVP) Vice President (VP) Senior Principal Officer (SPO) Assistant Vice President (AVP) Principal Officer (PO) Senior Officer (SO) Officer Probationary Officer Assistant Officer Grade – I Assistant Officer Grade – II Assistant Officer Grade – III FUNCTIONS OF IBBL
Maintenance of internal accounts of the bank. While doing all the above noted work IBBL issue cheques-book, Deposit account operating form, SS card, Ledgers, Cash book, Deposit account ledgers, preparation statement of accounts, Pass book, Balance of different accounts and calculates profits. Islami Bank Bangladesh Limited offers to open the following account to the depositors: 1. Al-Wadeah Current Account. 2. Mudaraba Savings Account. -MSA 3. Mudaraba term deposit Receipt. (3 month / 6 month / 12 month / 36 months term)-MTDR 4. Mudaraba Special Scheme-MSS 5. Mudaraba Hajj Savings Account (1 year to 25 year term)-MHSA 6.
