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UNB
The Islami Bank Bangladesh has made tremendous progress since the July uprising last year, significantly expanding its customer base while clearing all its debt to the central bank, revealed its managing director Md Omar Faruk Khan.
“The principal account, previously in deficit, now stands at nearly Tk 8,000 crore, with the bank clearing the Tk 2,395 crore owed to the Bangladesh Bank,” he said in an interview with the United News of Bangladesh (UNB).
While highlighting the bank’s achievements, such as remaining the top collector and distributor of remittances over the last 16 years, Faruk also shared with the UNB the bank’s future plans.
“Our achievements in the past year have been truly outstanding,” said Faruk.
In the year, he said, the bank opened 30 lakh new accounts, taking the total number of customers to nearly 2.5 crore. “The total deposit climbed to Tk 177,000 crore as deposits grew by approximately Tk 23,000 crore,” Faruk said. Islami Bank Bangladesh has the highest deposit in the country, he said.
The bank is also fulfilling the requirements such as the cash reserve requirement, statutory liquidity ratio, liquidity coverage ratio and minimum capital requirement.
The bank collected and distributed a total of Tk 63,100 crore in remittances over the last year, the highest amount of remittances collected by any bank in Bangladesh.
“This success is a result of Islami Bank team’s dedicated efforts, bold initiatives, and, most importantly, the unwavering trust of the customers,” Faruk noted.
Islami Bank Bangladesh made the highest contribution to the collection of record remittances between January and August this year-$21.46 billion.
The collection of remittances is $4.23 billion more than the amount collected over the same period of time last year. During that time, Islami Bank collected and distributed $3.6 billion in remittances.
“I believe several factors contributed to this record inflow. In the post-uprising period, a deep sense of patriotism was reawakened among expatriates,” explained Faruk.
“Those who once participated in the campaign for not sending remittances are now motivated by the urge to contribute to building a new Bangladesh,” he said.