The New Nation - Internet Edition

An Emergency General Meeting of the shareholders of IFIC Bank was held on 25.10.2007 at a local hotel in Dhaka. It was followed by the 27th, 28th, 29th & 30th Annual General Meetings of the shareholders for the years 2003, 2004, 2005 & 2006 respectively. The meetings were presided over by Mohammad Lutfar Rahman, Vice Chairman of the Bank. Other members of the Board of Directors namely, Abdul Hamid Chowdhury, Abu Tahir Mohammad Golam Maruf, Murshed Murad Ibrahim Aminur Rahman, Md. Yasin Ali, Didarul Alam, Chowdhury Nafeez Sarafat, Tanim Noman Sattar, Mahmudul Huq Bhuiyan, Arastoo Khan and Mohammad Ali Khan were also present on the occasion along with the Managing Director Mashiur Rahman.

A large number of shareholders attended the meetings.

Mohammad Lutfar Rahman, Vice Chairman welcomed the shareholders and reviewed the performance and growth of the Bank to date and assured the shareholders to undertake more effective steps for further growth and reputation of the Bank in the coming years.

The Balance Sheet & Profit and Loss Accounts of the bank as on December 31, 2003, December 31, 2004, December 31, 2005 and December 31, 2006 were unanimously approved by the shareholders after detailed discussions on these accounts which also included the Director's Report for the years 2003 to 2006. It was appreciated in the meetings that the performance of the bank during these 4 (four) years were quite satisfactory in respect of deposit, foreign exchange business, advances and recovery of loans.

The Bank declared dividend for the shareholders in the form of bonus shares @ 10 pc for the years 2003,2004 & 2005 respectively and 24 pc for the year 2006.

Three (3) Directors namely - Al-Haj Mohammad Mosaddak Ali, Enayetur Rahman & Abdul Hamid Chowdhury have retired and 5(five) Directors namely - Mohammad Lutfar Rahman, Abu Tahir Mohammad Golam Mamf, Murshed Murad Ibrahim, Aminur Rahman and Md. Yasin Ali were reelected in the Annual General Meetings. Besides 3(three) Directors namely - Didarul Alam, Chowdhury Nafeez Sarafat and Tanim Noman Sattar were newly elected in the vacant positions.

Moreover, 4(four) Directors were re-appointed in the Board of the Bank by the Government namely Mahmudul Huq Bhuiyan, Arastoo Khan, Syed Manzurul Islam Joint Secretaries, Ministry of Finance and Mohammad Ali Khan ndc. Joint Secretary, Women & Children Affairs, Government of Bangladesh.

On the occasion the Managing Director Mashiur Rahman gave replies to various queries made by the shareholders. He also requested the shareholders to take more interest with the bank for making better understanding and co-operation between the Management and the shareholders with regard to the growth and progress of the Bank in future.