The New Nation - Internet Edition

BUSINESS REPORT

The Board of Directors of Islami Bank Bangladesh Limited recommended 25% Stock Dividend for the shareholders for the year 2007 i.e. one bonus share against 4 existing shares subject to the approval of the Annual General Meeting of the Bank.

The rate of profit of IBBL Bond for the year 2007 has been announced to 12.64% which is a summation of 10.14% final rate of arumal profit of 8 years term Mudaraba Savings Bond and 10% of the rate of declared dividend. The profit of the bond will be distributed within 60 days from holding of AII Dual General Meeting of the Bank.

As the trade of Perpetual Bond of the Bank in Dhaka Stock Exchange and Chittagong Stock Exchange Limited was started simultaneously from the 25th November, 2007. Bondholders are entitled to receive profit 37 days for the year 2007 and from the year 2008 profit will be paid for the whole year.

These were decided in a meeting of the Board of Directors of the Bank held on Thursday 17 April at the Board Room of the Bank at Islami Bank Tower. Presided over by Prof. Abu Nasser Muhammad Abduz Zaher, Chairman of the Bank, the meeting was attended by local and foreign Directors including Dr. Abdulhameed Fouad AI-Khateeb, KSA and Ahmed Mohammed Thani, representative of Kuwait Awqaf Public Foundation.

The meeting approved the Profit and Loss Account for the year 2007 and Balance Sheet as at 31st December 2007. The 25th Arumal General Meeting of the Bank will be held on 29.8.2008. The record Date in connection for entitlement of Dividend was fixed on the 29.7.2008.