The New Nation - Internet Edition

Staff Reporter

Islami Bank Bangladesh Ltd (IBBL), a leading private commercial bank of the country, witnessed its total investment amounted to Tk 17,974 crore, registering a staggering growth of 34 per cent compared to last year.

On the other hand, the bank, which is operated upon Islamic Shariah law, witnessed its total import business growth by 42 per cent, or Tk 13,709 crore, while total export business growth by 30 per cent, or Tk 6,669 crore in 2007.

These unprecedented achievements were disclosed by Prof Abu Naser Mohammad Abduz Zaher, Chairman of board of directors of IBBL, while addressing a crowded press conference at Sonargaon Hotel in the city yesterday.

Quoting statistics, Prof Zaher said the IBBL's total foreign exchange business growth amounted to Tk 28,792 crore, or 43 per cent, while total remittance growth amounted to Tk 8,414 crore or 56 per cent against the national growth of 19.77 per cent.

The IBBL is going to complete its 25th founding anniversary on March 30. Executive President M Fariduddin Ahmad also spoke at the press conference.

Prof Zaher said Islami Bank has been making significant contribution to the country's industrialisation by investing some 45 per cent of its total investment to the industrial sector.

"The country has been earning huge amount of foreign currency through the ready-made garment sector. Besides, the sector has created huge employment opportunities, especially for women. Islami Bank has been playing a pioneering role for the development of this sector," he said.

Moreover, Islami Bank has been playing an important role in flourishing the country's textile industry and bridging the gap between the backward and forward linkage industries.

The chairman said the expatriate Bangladeshis wanted to send their hard-earned remittances through legal banking channels showing patriotism for the country. "Islami Bank respects this patriotism and has opened expatriate welfare desks at each of its branches. The bank has also introduced new products to send the remittance amounts to their recipients quickly using modern technology," he said.

Prof Zaher said seven representatives of Islami Bank were working for expatriate Bangladeshis in four Middle Eastern countries. Representatives would also be sent to several countries soon. Islami Bank has established correspondent relationship with 870 houses in 90 countries of the world.

"Islami Bank is improving day by day with the support of people from all strata of the society," he further said.

Kazi Harun-Ur-Rashid, Chairman of Audit Committee, Monirul Islam Patwary, Chairman of Executive Committee, Maulana Zainul Abedin, Vice Chairman of the Board of Directors of IBBL, among others, were present at the press conference.