The New Nation - Internet Edition

BUSINESS REPORT

Al-Arafah lslami Bank Ltd approved 20 per cent dividend in the form of bonus share for the year ended on December 31, 2007 at its 13th Annual General Meeting (AGM) held yesterday at BDR Darbar Hall, Peelkhana in the city.

Alhajj Md Anowar Hossain, Chairman of the Board of Directors of the bank, presided over the meeting.

Vice Chairman Alhajj Mir Ahmed Sowdagar, Directors Alhajj Md Harun-ar-Rashid Khan, Alhajj Ahmed Ali, Alhajj Nazmul Ahsan Khaled, Alhajj Abdul Malek Mollah, Alhajj Hafej Md. Enayetullah, Alhajj Kazi Md Mofizur Rahman, Alhajj Badiur Rahman, Alhajj Ahamedul Haque, Alhajj Abdus Samad, Alhajj Kh Mesbahuddin Ahmed, Ex Director Alhajj AZM Shamsul Alam, Alhajj Badsha Meah, Ex Alternate Director Alhajj Niaj Ahmed, Chairman of Shariah Board Moulana Md Siddiqur Rahman, Managing Director MA Samad Sheikh, Additional Managing Director, Executive Vice Presidents, Company Secretary, executives, officers and a large number of shareholders were present on the occasion.

The house considered and adopted the Directors' Report, statement of accounts for the year 2007 along with Auditors' Report and also appointed the auditors of the company for the term until the next Annual General Meeting.

The bank achieved growth of 45.05 per cent in deposit, 31.47 per cent in investment, 43.68 per cent in import and 39.07 per cent in export during the year 2007, compared to 2006. The bank also reduced its classified investment to a large extent. At the end of 2007 classified investment of the bank stood at 3.72 per cent.

The shareholders participated in the review of the overall performance of the bank and expressed their satisfaction. They made some valuable suggestions for improvement of performance and image of the bank.

The Chairman of the bank Alhajj Md Anowar Hossain thanked the shareholders for the confidence entrusted on the Board of Directors.