Islami Bank Bangladesh PLC has showcased remarkable resilience, achieving a 5% growth in deposits year-on-year as of December 2024. Despite challenges in the banking sector, the bank has firmly established its position as a trusted institution among depositors and investors. The financial statement of Islami Bank revealed deposits amounting to approximately Tk1.61 lakh crore in December 2024, compared to Tk1.54 lakh crore in December 2023. Investments also saw an increase, rising from Tk1.50 lakh crore in 2023 to Tk1.59 lakh crore in 2024. December 2024 proved to be a record-breaking month for remittances, with the bank receiving around Tk681,00 crore—approximately one-third of the country’s total remittances for the month. Islami Bank continues to lead the private sector in import and export finance, recording Tk648,00 crore in import financing and Tk324,00 crore in export financing for 2024. Currently serving 2.5 crore customers, the bank’s expansive network of 400 branches, 265 sub-branches, 2,800 agent banking outlets, and 3,000 ATM/CRM booths underscores its commitment to reaching every corner of the nation. A branch manager, speaking anonymously, assured, “Customers can withdraw money from branches without interruption. There are no complaints about liquidity issues, and cash transactions are operating normally.” Read: Islami Bank to issue new shares, sell S Alam Group's seized ones The bank’s RTGS (Real Time Gross Settlement) system has also remained fully operational, ensuring smooth and timely money transfers. Resilience Amid Challenges Despite the liquidity challenges faced by the banking sector in August 2024, Islami Bank has managed to recover swiftly. Governor of the Bangladesh Bank Dr Ahsan H Mansur recently commended the bank's important role in the country’s economy, stating, “Islami Bank is the number one bank in the country. It has turned around within the shortest time and is moving forward smoothly. This bank will not look back anymore.” Dr Shah Md. Ahsan Habib, a professor at the Bangladesh Institute of Bank Management (BIBM), attributed the bank’s resilience to its deep grassroots connections and the strong social networks of its employees. Read more: Islami Bank appoints 4 audit firms to investigate irregularities post S Alam Group takeover He highlighted the role of small depositors, saying, “In the context of Bangladesh, small depositors are the assets of a bank. Islami Bank, with its vast network, has successfully gained the trust of these depositors.” Leadership and Achievements Islami Bank’s Chairman, Md Obayed Ullah Al Masud, affirmed the institution’s consistent leadership in the private banking sector. He revealed that Bangladeshi expatriates remitted $26.89 billion in 2024, with Islami Bank facilitating 21.47% of this, equivalent to remittances from 163 countries. The top remittance-sending nations included Saudi Arabia, the USA, the UAE, Malaysia, Singapore, Qatar, Italy, and Kuwait. “Our 5% deposit growth in 2024 compared to 2023 is a testament to the confidence people have in us. Islami Bank will only continue to move forward,” Masud stated confidently. The bank’s contributions to the economy are vast, with investments in over 6,000 industries, support for 20 lakh entrepreneurs, and employment opportunities for 1 crore people. Read more: No restrictions on business operations and opening LCs in Islami Bank: BB Governor Besides, its small investment schemes have benefited 18 lakh marginal families, further cementing its role as a driver of socio-economic development. As the leading private sector bank in Bangladesh, Islami Bank’s robust performance, grassroots connections, and unwavering customer trust place it firmly on the path to continued success.

Mohammed Monirul Moula, Managing Director (MD) of Islami Bank Bangladesh PLC, was reportedly forced to vacate his office on December 19 under contentious circumstances. Moula, who was appointed in January 2021 during the tenure of S Alam Group’s dominance over the bank’s board, reportedly faced resistance from within the organisation. A group of officials allegedly blocked his entry into the office and demanded he leave. Read: IBBL launches ‘Smart Bangladesh Smart Banking’ campaign Since the incident, sources said, Moula has been absent from his duties, and an additional managing director has assumed interim responsibilities. Islami Bank is working with Bangladesh Bank to finalise the appointment of a new MD, according to a high-ranking official at the bank. Despite being removed from his office, sources indicate that Moula has not yet submitted his resignation.

Islami Bank Bangladesh has won the Institute of Cost and Management Accountants of Bangladesh (ICMAB) Best Corporate Award 2021 in the private commercial bank (Islamic operation) category. Muhammad Qaisar Ali, additional managing director of the bank, received the award from Commerce Minister Tipu Munshi at a hotel in the capital Thursday (December 01, 2022), according to a media statement. JQM Habibullah, additional managing director and company secretary of Islami Bank, was also present. Read more: Islami Bank opens Islampur branch in Jamalpur Professor Shibli Rubayat Ul Islam, chairman of the Bangladesh Securities and Exchange Commission, Md Jashim Uddin, president of the Federation of Bangladesh Chambers of Commerce and Industry, Md Mamunur Rashid, president of ICMAB, and Md Abdul Aziz, chairman of Corporate Award Committee of ICMAB, also joined the event. 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: BAT Bangladesh scoops up ‘ICMAB Best Corporate Award’ for sixth time

Dhaka North and South Zone of Islami Bank Bangladesh Limited (IBBL) organised the webinar "Compliance of Shari'ah in Banking Operations" recently. Mohammad Solaiman, chairman of the Audit Committee of the bank, addressed the event Saturday as the chief guest.  Md Omar Faruk Khan, additional managing director, was present as a special guest.  Read: IBBL holds Shariah compliance webinar Dr Monzur-E-Elahi, member of the Shariah Supervisory Committee of the bank, spoke as the key discussant.  Md Shamsuddoha, executive vice-president of the Shariah Secretariat, also spoke. Muhammad Sayeed Ullah, head of Dhaka North Zone, and Mir Rahmat Ullah, head of Dhaka South Zone, presided over the programme, according to a media statement. Read IBBL launches month-long fintech campaign 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.

A meeting of the Shari`ah Supervisory Committee of Islami Bank Bangladesh Limited (IBBL) was held virtually on Wednesday. Prof Mohammad Gias Uddin Talukder, chairman of the committee presided over the meeting, the bank said in a statement. Also Read: IBBL donates Tk 10 cr to PM’s Relief Fund Mufti Sayeed Ahmed, vice chairman, and Prof Mohammad Abdus Samad, member secretary of the committee along with other members attended the meeting. Mohammed Monirul Moula, managing director & CEO, Muhammad Qaisar Ali, additional managing director, and JQM Habibullah, deputy managing director & company secretary of the bank also attended.

Islami Bank Bangladesh Limited organised a farewell for 15 recently retired senior executives at Islami Bank Tower on Monday. Mohammed Monirul Moula, the managing director & CEO of the bank, addressed the programme as the chief guest, the bank said in a statement on Tuesday. Muhammad Qaisar Ali and Md Omar Faruk Khan, additional managing directors of the bank addressed the function as the special guest. Also Read: Islami Bank declares 10% cash dividend Md Mostafizur Rahman Siddiquee, deputy managing director presided over the programme while Md Maksudur Rahman, head of the development wing made the welcome speech. Retired executives including Abu Reza Md Yeahia, Md Abdul Jabbar, Md Saleh Iqbal, AAM Habibur Rahman, and Md Mosharraf Hossain, former deputy managing directors of the bank also addressed the programme.

A meeting of the board of directors of Islami Bank Bangladesh was held Sunday on a virtual platform. Professor Md Nazmul Hassan, chairman of the bank, presided over the meeting. Yousif Abdullah Al-Rajhi and Md Shahabuddin, vice-chairmen of the board of directors, Dr Areef Suleman, foreign director and representative of Islamic Development Bank, joined the meeting. READ: Islami Bank holds 38th AGM; approves 10% cash dividend Mohammed Monirul Moula, managing director and CEO of Islami Bank, and JQM Habibullah, deputy managing director and company secretary, also attended the meeting.

Cumilla, Sylhet and Mymensingh zones of Islami Bank Bangladesh organised a quarterly business development conference recently through a virtual platform. Mohammed Monirul Moula, managing director and chief executive officer of the bank, addressed the conference as chief guest. Islami Bank deputy managing directors Taher Ahmed Chowdhury, Md Mosharraf Hossain and Mohammad Ali; senior executive vice-presidents Md Siddiqur Rahman, Md Mahboob Alam, Salim Anwar and Muhammad Sayeed Ullah also joined the programme.    Md Mahbub-A-Alam, head of Cumilla Zone, Sikder Md Shehabuddin, head of Sylhet Zone, and Bashir Ahamed, head of Mymensingh Zone, addressed the conference, too, read a press release issued on Monday.

Islami Bank Bangladesh Wednesday organised a programme of prayer to mark its 38th founding anniversary in the capital. Professor Md Nazmul Hassan, chairman of the bank, addressed the function on a virtual platform as the chief guest. Presided over by Mohammed Monirul Moula, managing director and chief executive officer of the bank, the programme was attended by additional managing directors Muhammad Qaisar Ali and Md Omar Faruk Khan. Deputy managing directors Abu Reza Md Yeahia, Taher Ahmad Chowdhury, AAM Habibur Rahman and Md Mosharraf Hossain also joined the programme. Also read: Islami Bank Inter-Zone Cricket Tournament 2021 held Prayers were offered for the overall progress of the bank, the well-being of all the directors, executives, officers, employees, clients, and well-wishers and the safety of the people amid the Covid-19 pandemic. Professor Nazmul Hassan said Islami Bank was established with the motto of conducting Shariah-based banking. "A large segment of clients in the banking sector are out of Islamic banking services; we have to address them. Islami Bank has been able to come to its present position with honesty, sincerity and devotion of its officers and employees and the support of the people," Nazmul said. Also read: Islami Bank organises discussion meeting, prayers on 50th anniversary of Independence "The bank has been playing an important role in alleviating poverty by conducting asset-based and welfare-oriented investment activities along with creating large industrial groups." Munirul Moula said Islamic banking is a successful reality now in Bangladesh. "Islami Bank has become the top bank in the country in all activities including import, export and remittance services."

Khulna Zone of Islami Bank Bangladesh Saturday became champions in the Inter-Zone Cricket Tournament 2021, beating Sylhet Zone by 21 runs in the final match. Islami Bank Officers' Welfare Association organised the meet where 18 teams – from Islami Bank branches from across the country – locked horns. Mohammed Monirul Moula, managing director and chief executive officer of the bank, distributed prizes among the winners after the final match at BKSP ground in Savar. Also read: Islami Bank organises discussion meeting, prayers on 50th anniversary of Independence Islami Bank Additional Managing Director Md Omar Faruk Khan and Deputy Managing Director Md Mosharraf Hossain were present on the occasion. Islami Bank Officers' Welfare Association President AKM Mahbub Morshed, General Secretary ASM Rezaul Karim, Comilla Zonal Head Md Mahbub A Alam, Sylhet Zonal Head Sikder Md Shehabuddin were also there. In the final match, Sylhet Zone won the toss and chose to field. Khulna Zone scored 76 runs for 7 wickets in 10 over. Also read: IBBL Dhaka zone holds online conference Sylhet scored 55 runs in eight overs, losing all the wickets. Earlier in the morning, Sylhet reached the final beating Chottogram South Zone by 24 runs in the first semi-final and Khulna Zone confirmed their place in the final, beating Cumilla by eight wickets in the second semifinal.