Five people including four officials of Islami Bank Bangladesh Limited (IBBL) PLC sustained bullet injuries in a clash between two groups of the bank in front of its head office in Motijheel area of Dhaka on Sunday (August 11, 2024). Four of the injured identified as officials Mamun, Abdur Rahman, Baki Billah and godown guard Shahfiullah Sardar are now undergoing treatment at a hospital. Sources said some officials under the banner of ‘Anti-Discrimination Banker Society’ were trying to hold a rally in front of the head office in the morning. Read more: Islami Bank continues to reject cheques of ‘suspicious companies’ Some bank officials, who work for the S Alam Group, barred them from holding the rally, resulting in a scuffle between them, they said. At one stage, shots were fired at the protesters, leaving five people injured, they said. A tense situation has been prevailing in and around the bank following the incident. Motijheel Police Station’s Officer-in-Charge Abul Kalam Azad could not be reached over mobile phone despite repeated attempts. Read more: Executives appointed by S Alam will not be allowed to enter Islami Bank: CBA of the bank

Motorcycles handover ceremony for Islami Bank Bangladesh Limited (IBBL)-Ria Money Transfer Cash Remittance Festival was held on Tuesday. Mohammed Monirul Moula, Managing Director and CEO of IBBL, handed over the prize as the chief guest to the 9 winners of Dhaka Central, South, and North Zones of the bank. Suhail Shamsi, Business Development Director (South Asia) of Ria Money Transfer addressed the programme as a guest of honour. The function was presided over by Muhammad Qaisar Ali, Additional Managing Director of the bank. The winners are Md. Sumon and Ahsan Ullah, clients of Kapasia Branch, Masud Mridha of Bhulta Branch, Asma Yesmin of Farmgate Branch, Md. Robiul Islam of Madahbdi Branch, Suma Begum of Palash Branch, Harun Rashid of Atibazar Branch,  Samsunnahar Begum of Raipura Branch and Jesmin Parvin of Meradia Sub-branch. The campaign will run until May 14, 2023 in which one person can win a motorcycle every day among the cash remittance clients of IBBL, for sending remittance through Ria Money Transfer from any country.    

Bangladesh Bank and Islami Bank Bangladesh Limited signed an agreement for participating in the 'Green Transformation Fund’ (GTF). Bangladesh Bank formed this fund of Tk 5,000 crore from its own in order to accelerate the ongoing environment-friendly transformation and expansion of export and production-oriented industries. Also read: IBBL conducts workshop on preventing money laundering and terrorism funding Abdur Rouf Talukder, Governor of Bangladesh Bank, handed over a copy of the agreement to Muhammad Qaisar Ali, Additional Managing Director of Islami Bank. Kazi Sayedur Rahman, Deputy Governor, Md. Khurshid Alam, Executive Director, and Chowdhury Liakat Ali, Director of the Sustainable Finance Department, the central bank along with top officials of both institutions who were present on the occasion, a press release said.  

Despite criticism of mismanagement and loan scams, the Islami Bank Bangladesh Limited (IBBL) has secured a top position in making operational profit in 2022, according to a Bangladesh Bank report. The IBBL has now the highest deposit holding in the country. The depositors rushed to withdraw their money from the bank amid reports of loan scams in last November and December. Banks have prepared financial reports based on their branch office information on disbursed loans and their collection update. The BB report released late Saturday found that the operating profit of most of the banks increased in 2022, compared to the same period of the previous (2021) year. Also Read: Deposits at IBBL 'completely safe': Bangladesh Bank According to the report, IBBL is at the top among the banks in gaining operational profit. In 2022 (January-December), the bank made an operating profit of Tk 2,646 crore. In the previous year in 2021, the profit of the bank (IBBL) was Tk 2430 crore. In 2020, it was Tk 2350 crore. Among other banks, in 2022, the state-owned Sonali Bank made an operating profit of Tk 2,520 crore. In 2021, it was Tk 2100 crore. Also Read: IBBL reaches Tk 1.40 trillion deposits, 1.16 trillion investments: IBBL MD But operating profit is not the actual profit of the bank. Net profit will be calculated after saving provision or safety stock at fixed rate against debt from operating profit and payment of corporate tax. Net profit is the actual profit of the bank. State-owned BASIC Bank could not make operating profit in 2022. On the contrary, they incurred a loss of Tk 371 crore; Last year also the loss was Tk 80 crore. Apart from this, Citizen Bank has made an operating profit of Tk 2.54 crore in six months. The bank started operations in mid of 2022. Economist and former adviser of caretaker government Dr. ABM Mirza Azizul Islam told UNB, "Bangladesh Bank is giving special benefits to the defaulters and showing the interest of such loan to the income sector. In this case, the financial report of the bank is being shown well on paper.” Read More: BB disburses Tk 4000 crore as liquidity support to 5 Islami banks He also said, "Political commitment and goodwill are needed to restore order in banks." According to the data of the Central Bank, in the quarter of September 2022, the defaulted loan amount in the banking sector of the country has increased to more than Tk1.34 crore, which is 9.36 percent of the total loan.

In one of his first interactions with the press since officially being appointed as Bangladesh Bank Executive Director and Spokesperson, Md. Mezbaul Haque today said that Islami Bank Bangladesh Limited (IBBL) is very important to the state, and the bank's depositors have nothing to worry about regarding their money. 'Those who have deposited money in this bank are completely safe. Bangladesh Bank guarantees their deposits. But there are many rumors in the market. A good institution cannot be hindered by rumors or otherwise," he said. Mazbaul said this after a meeting with the Association of Bankers Bangladesh (ABB) at Jahangir Alam Conference Hall of Bangladesh Bank on Sunday afternoon. Bangladesh Bank fully guarantees customers' deposits at IBBL. However, there is an ongoing investigation into whether there was any irregularity or corruption at the bank. “We can say what happened only after investigation,” he added. Regarding ABB's claim that the maximum interest rate of 12 percent on consumer loans has been verbally approved, he said: "We have not issued any circular in this regard." Consumer loan interest rates are the same as in earlier rules. But if a bank talks about 12 percent then it is advance preparation. If so, we will issue a circular.” In reply to a question on customers withdrawing deposits from Islami Bank, as IBBL is popularly known, he said that the crisis of trust has passed. Depositors are putting money back into the bank. Besides, the trade deficit has come down a lot, and the foreign exchange crisis will go soon. The meeting discussed several issues including the facilitation of importers' letters of credit (LCs) to ensure the supply of essential commodities during the upcoming Ramadan. “This has been discussed with the MDs and CEOs of the banks. Governor Abdur Rouf Talukder has instructed the MDs to provide all kinds of assistance in the import to ensure the supply of necessities during Ramadan,” Mezbaul said. He further said that the opening of unnecessary LCs is closed. However, it has been suggested to keep the margin rate at a minimum level in the case of import financing of essential commodities during Ramadan.

The Islami Bank Training and Research Academy (IBTRA) organised an executive development programme online Saturday. Mohammed Monirul Moula, managing director and chief executive officer of Islami Bank Bangladesh, spoke at the "Customer services and compliant management" as chief guest, according to a media statement. Read: Nagad Islamic, Islami Bank team up for seamless financial services Mohammad Zahir Hussain, director of the Financial Integrity and Customer Services Department of the Bangladesh Bank, spoke as the key discussant. Islami Bank Bangladesh additional managing directors Mohammad Qaisar Ali and JQM Habibullah also spoke at the programme. SM Rabiul Hassan, principal of IBTRA, presided over it. Islami Bank is a joint venture public limited company engaged in commercial banking business based on Islamic shariah. Established in 1983 as the first Islamic bank in Southeast Asia, it is listed on the Dhaka Stock Exchange and Chittagong Stock Exchange.  

Dhaka central, east zones, and six corporate branches of Islami Bank Bangladesh organised a webinar on Shariah compliance in Dhaka Sunday. Mohammed Monirul Moula, managing director and chief executive officer of Islami Bank, spoke at the "Compliance of Shari'ah in Banking Operations" as chief guest, according to a media statement. Read: IBBL opens Sarail branch in Brahmanbaria Sayeed Ahmed, vice-chairman of the Shariah Supervisory Committee of the bank, was the key speaker at the webinar. Mahmudur Rahman, head of Dhaka central zone and Md Shamsuddoha, executive vice-president of Shariah Secretariat of of Islami Bank, also spoke. Read: IBBL holds Entrepreneurship Development Workshop Islami Bank is a joint venture public limited company engaged in commercial banking business based on Islamic Shariah. It is listed on the Dhaka Stock Exchange and Chittagong Stock Exchange.  

Islami Bank Bangladesh Limited (IBBL) inaugurated its 390th branch at Sarail in Brahmanbaria Wednesday (November 02, 2022). Mohammed Monirul Moula, managing director and chief executive officer of the bank, inaugurated the branch as chief guest, according to a media statement. Read More: IBBL holds Entrepreneurship Development Workshop Islami Bank is a joint venture public limited company engaged in commercial banking business based on Islamic shariah. Established in 1983 as the first Islamic bank in Southeast Asia, it is listed on the Dhaka Stock Exchange and Chittagong Stock Exchange. Read More: IBBL inaugurates Askar Dighir Par Branch in Ctg

Islami Bank Bangladesh has won the "Best Bank in Bangladesh" honour at the South Asian Business Excellence Awards 2022 presented by the South Asian Partnership Summit. Planning Minister MA Mannan handed over the award to Mohammed Monirul Moula, managing director and chief executive officer of the bank, Thursday at a Dhaka hotel, according to a media statement. Read: Mastercard credit card bill payment: Nagad offers up to Tk 400 cashback Morshed Alam MP and Asha Jayamanne, founder and chair of the South Asian Partnership Summit and Business Excellence Awards, were also present. Islami Bank is a joint venture public limited company engaged in commercial banking business based on Islamic shariah. Established in 1983 as the first Islamic bank in southeast Asia, it is listed on the Dhaka Stock Exchange and Chittagong Stock Exchange.

Islami Bank Bangladesh Limited (IBBL) Khulna and Jashore zones recently organised the webinar "Compliance of Shari'ah in Banking Operations." Md Quamrul Hasan, director of the bank, spoke at the webinar as chief guest. Md Omar Faruk Khan, additional managing director, addressed the programme as a special guest. Mohammad Harunur Rashid, a member of the Shariah supervisory committee of the bank, was the key speaker at the webinar. Md Shamsuddoha, executive vice-president of the Shariah secretariat, also spoke. IBBL is a joint venture public limited company engaged in commercial banking business based on Islamic Shariah. It is listed on the Dhaka Stock Exchange and Chittagong Stock Exchange.