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The Role of Islami Bank Bangladesh Limited in Economic Development of Bangladesh
ISSN: 2308-5096(P) ISSN 2311-620X (O) [International Journal of Ethics in Social Sciences Vol.4, No. 1, June 2016] The Role of Islami Bank Bangladesh Limited in Economic Development of Bangladesh Mohammed Mahbubur Rahaman1 Md. Rafiqul Islam Rafiq2 Abstract The main objective of the study is to analyze the role of IBBL in economic development of Bangladesh and to give some suggestions to overcome the challenges Islami Bank Bangladesh Ltd. (IBBL) is the pioneer of Islamic banking in Bangladesh. IBBL is performing a significant role in the development of the country. The Bank is working in the export sector from the very beginning resulting in maximizing export earnings as well as creating employment opportunities in Bangladesh. The Bank has already emerged as the top export-import bank in Bangladesh. IBBL satisfies most of the efficiency conditions if they can operate as a sole system in an economy. Conventional banking, on the other hand, does not satisfy any of the efficiency conditions analyzed in the present study. However, when Islamic banks start operation within the conventional banking framework, their efficiency goes on decreasing in a number of dimensions. 1. Introduction In a modern economy, banks are the fundamental financial intermediary. Recently they are engaged in value generating activities by assuring uninterrupted supply of financial resources and also help accelerate the pace of development process. In terms of deposit collection, investment, and foreign exchange business the Islami Bank Bangladesh Limited (IBBL) place the position of being the leading other banks, IBBL has been continuously operating their banking activities and to provide efficient banking service with a view to accelerate 1. -
“E-Business and on Line Banking in Bangladesh: an Analysis”
“E-Business and on line banking in Bangladesh: an Analysis” AUTHORS Muhammad Mahboob Ali ARTICLE INFO Muhammad Mahboob Ali (2010). E-Business and on line banking in Bangladesh: an Analysis. Banks and Bank Systems, 5(2-1) RELEASED ON Wednesday, 07 July 2010 JOURNAL "Banks and Bank Systems" FOUNDER LLC “Consulting Publishing Company “Business Perspectives” NUMBER OF REFERENCES NUMBER OF FIGURES NUMBER OF TABLES 0 0 0 © The author(s) 2021. This publication is an open access article. businessperspectives.org Banks and Bank Systems, Volume 5, Issue 2, 2010 Muhammad Mahboob Ali (Bangladesh) E-business and on-line banking in Bangladesh: an analysis Abstract E-business has created tremendous opportunity all over the globe. On-line banking can act as a complementary factor of e-business. Bangladesh Bank has recently argued to introduce automated clearing house system. This pushed up- ward transition from the manual banking system to the on-line banking system. The study has been undertaken to ob- serve present status of the e-business and as its complementary factor on-line banking system in Bangladesh. The arti- cle analyzes the data collected from Bangladeshi banks up to February 2010 and also used snowball sampling tech- niques to gather answer from the five hundred respondents who have already been using on-line banking system on the basis of a questionnaire which was prepared for this study purpose. The study found that dealing officials of the banks are not well conversant about their desk work. The author observed that the country can benefit from successful utiliza- tion of e-business as this will help to enhance productivity. -
Bangladesh Development Bibliography List of Publications from 2000 – 2005 (As of January 16, 2012)
Bangladesh Development Bibliography List of publications from 2000 – 2005 (as of January 16, 2012) Aaby, Peter; Abbas Bhuiya; Lutfun Nahar; Kim Knudsen; Andres de Francisco; and Michael Strong (2003) The survival benefit of measles immunization may not be explained entirely by the prevention of measles disease: a community study from rural Bangladesh ; International Journal of Epidemiology, Vol. 32, No. 1 (February), pp. 106-115. Abbasi, Kamran (2002) Health policy in action: the World Bank in South Asia; Brighton, UK: University of Sussex, Institute of Development Studies (IDS). Abdalla, Amr; A. N. M. Raisuddin; and Suleiman Hussein with the assistance of Dhaka Ahsania Mission (2004) Bangladesh Educational Assessment - Pre-primary and Primary Madrasah Education in Bangladesh ; Washington, DC, USA: United States Agency for International Development (USAID) for Basic Education and Policy Support (BEPS) Activity (Contract No. HNE-I-00-00-00038-00) (June). Abdullah, Abu (2001) The Bangladesh Economy in the Year 2000: Achievements and Failures; In: Abu Abdullah (ed.) Bangladesh Economy 2000: Selected issues (Dhaka: Bangladesh Institute of Development Studies (BIDS)), pp. xv-xxix. Abdullah, Abu (ed.) (2001) Bangladesh Economy 2000: Selected Issues; Dhaka, Bangladesh: University Press Ltd. and Bangladesh Institute of Development Studies. Abdullah, Abu A. (2000) Social Change and ‘Modernisation‘; In: Rounaq Jahan (ed.) Bangladesh: Promise and Performance (London, UK: Zed Books; and Dhaka, Bangladesh: The University Press), Chapter 5. Abdullah, Mohammad (ed.) (2004) Technologies on Livestock and Fisheries for Poverty Alleviation in SAARC Countries; Dhaka, Bangladesh: SAARC Agricultural Information Centre (SAIC). Abdullah, S. T.; Mullineux, A. W.; Fielding, A.; and W. Spanjers (2004) Intra-household resource allocation and bargaining power of the women using micro-credit in Bangladesh; Birmingham, UK: University of Birmingham, Department of Economics Discussion Paper, No. -
Agent Banking, the Revolution in Financial Service Sector of Bangladesh
IOSR Journal of Economics and Finance (IOSR-JEF) e-ISSN: 2321-5933, p-ISSN: 2321-5925.Volume 5, Issue 1. (Jul-Aug. 2014), PP 28-32 www.iosrjournals.org Agent banking, the revolution in financial service sector of Bangladesh Md. Razib Siddiquie (Department of Business Administration, University of Asia Pacific, Bangladesh) Abstract: Agent banking is one of the most popular financial services in the world where there are difficulties in accessing geographical locations easily. And that is why agent banking is very successful in Latin America & Africa. Other developed like United Kingdom, Australia etc countries are also gradually deploying agent banking because it reduces the cost of operating of the bank. Most of the services of a bank can be provided through agents, thus people of remotest area of a country can be brought under proper financial structure by the virtue of agent banking. According to the agent banking guideline the software of any individual agent will be connected to the core software of the bank, so transactions that will take place in agent premises will be shown in the banking system real-time and those transactional statements can be used anywhere and everywhere for different purposes of the client. I have done my research on agent banking and its prospect for last one year and finally prepared this paper. Keywords: Alternative Banking, Internet service provider, Bank, Regulation, vision I. Introduction of Agent banking in Bangladesh: People's Republic of Bangladesh, a delta in South Asia, Bangladesh shares large borders with India and a small southern strip with Myanmar. Bangladesh is home to the Ganges, the Brahmaputra and the Meghna rivers, and networks of smaller rivers and canals. -
Important News Snippets Jun 18, 2020 [email protected]
Important News Snippets Jun 18, 2020 [email protected] Following is a summary of important business news published in the leading daily newspapers of Bangladesh. For the complete news, please follow the online link given below each news. Please note that the news summary doesn’t reflect the opinion of BRAC EPL Stock Brokerage Limited. Bangladesh Bank (BB) blames banks’ misrepresentation of trade policy amid Foreign Direct Investment (FDI) fall ■ The Bangladesh Bank on Wednesday blamed authorised dealer banks for misrepresenting the country’s trade policy and putting Bangladesh’s economy at stake even after adoption of a liberal trade policy in the 1990s. A BB circular issued by its executive director Mohd Humayun Kabir on the day raised the allegation at a time when many global businesses were exploring their options to shift their manufacturing units elsewhere from China amid the mounting US- China trade war. Besides, the 56.0% fall in foreign direct investments last year could be another reason behind issuing the BB circular. The country’s FDI inflow dropped to USD 1.6 billion in 2019 from USD 3.6 billion in the previous year. ■ According to an official of the central bank said that the banks were mostly unaware of the government’s policy on foreign direct investment attraction which was why many of the banks, dealing with foreign customers, failed to provide them with the required guidelines. As a result, many potential clients got the wrong idea about the country’s liberal trade policy, prompting the central bank to come up with the circular. -
Study of Bangladesh Bond Market
Study of Bangladesh Bond Market April 2019 Table of Contents Abbreviations ........................................................................................................................................................... ii List of Tables ......................................................................................................................................................... viii List of Figures .......................................................................................................................................................... x Forewords ............................................................................................................................................................... xi Executive Summary.............................................................................................................................................. xiv 1. Introduction ......................................................................................................................................................... 2 1.1. Background to our work ....................................................................................................................................................... 2 1.2. Structure of the report .......................................................................................................................................................... 2 1.3. Our methodology and approach ..................................................................................................................................... -
Regulation of Islamic Banking in Bangladesh : Role of Bangladesh Bank
International Journal of Islamic Financial Services Vol. 2 No.1 REGULATION OF ISLAMIC BANKING IN BANGLADESH : ROLE OF BANGLADESH BANK Abdul Awwal Sarker As regards the supervision and inspection of the banks in Bangladesh, an equal treatment is being followed for all banks including the Islamic ones by the Bangladesh Bank. In some cases, Bangladesh Bank has given some special provision for the Islamic banks. Yet, for the smooth development and operation of the Islamic banking, Bangladesh Bank should devise the separate regulatory and supervisory guidelines for the Islamic banks and non-bank Islamic financial institutions. 1. Banking System of Bangladesh The banking system of Bangladesh is composed of a variety of banks working as Nationalized Commercial Banks (NCBs), Private Banks, Foreign Banks, Specialised Banks and Development Banks. However, 28 out of 50 banks in Bangladesh are private, of which only 5, namely Islami Bank Bangladesh Limited, Al-Baraka Bank Bangladesh Limited, Al-Arafah Islami Bank Limited, Social Investment Bank Limited, and Faysal Is- lamic Bank of Bahrain E.C. have been operating as Islamic banks. Besides these full-fledged Islamic banks, two conventional banks in the private sector namely the Prime Bank Limited and Dhaka Bank Limited, have opened two full-fledged Islamic banking branches and Islamic Banking Counter respectively to deal with the Islamic banking business parallel to their conventional operations. The operations and accounts of these branches and counter are maintained separately from the mainstream business of the respective banks. 2. The Genesis of Islamic Banking in Bangladesh Bangladesh inherited an interest based banking system right from the British Council period and employment of the Muslimas in banks was more or less restricted. -
Annual Report 2014 1 Contents
ANNUAL REPORT 2014 1 CONTENTS BUSINESS DIVISION HIGHLIGHTS SME Banking Division 69 Retail Banking Division 70 Corporate Banking Division 72 Treasury and Financial Institutions 74 Corporate Governance 75 Green Banking Disclosure 92 Service Excellence 94 Corporate Social Responsibility 95 Risks and Concerns 97 Pattern of Shareholding 98 Board Audit Committee 99 Risk Management Committee 107 Financial Statements 111 Glimpses of Last AGM 235 Branch, Krishi Branch & SME Sales & Service Center Addresses 237 Attendance Slip & Proxy Form 247 CONTENTS Letter of Transmittal 02 Forward Looking Statement 03 Notice of the 16th Annual General Meeting 04 Corporate Vision, Mission and Core Values 05 Corporate Chronicle and information 06 Chairman’s Message 08 Managing Director & CEO’s Message 16 Directors' Report 21 Our Performance 40 Disclosures on Risk Based Capital (Basel II) 42 Board of Directors 53 Management Committee 64 BUSINESS DIVISION HIGHLIGHTS SME Banking Division 69 Retail Banking Division 70 Corporate Banking Division 72 Treasury and Financial Institutions 74 Corporate Governance 75 Green Banking Disclosure 92 Service Excellence 94 Corporate Social Responsibility 95 Risks and Concerns 97 Pattern of Shareholding 98 Board Audit Committee 99 Risk Management Committee 107 Financial Statements 111 Glimpses of Last AGM 235 Branch, Krishi Branch & SME Sales & Service Center Addresses 237 Attendance Slip & Proxy Form 247 LETTER OF TRANSMITTAL To All Shareholders Bangladesh Bank Bangladesh Securities and Exchange Commission Registrar of Joint Stock Companies & Firms Dhaka Stock Exchange Limited Chittagong Stock Exchange Limited Dear Sir(s), Annual Report for the year ended December 31, 2014 We are pleased to enclose a copy of the Annual Report, together with the Audited Financial Statements of BRAC Bank Limited as on December 31, 2014 for your kind information and record. -
Morning Briefings Overall Market BANK
Morning Briefings Wednesday, March 16, 2016 Overall Market Stocks cheer Atiur’s resignation; Turnover crosses Tk 4 billion-mark Stocks posted marginal gain Tuesday, breaking two days losing streak with turnover crossing Tk 4.0 billion-mark on the premier bourse as optimistic investors put fresh fund on lucrative stocks. Market insiders said the resignation news of Bangladesh Bank (BB) governor might have ignited some hope and enthusiasm in the market. The BB Governor Atiur Rahman Tuesday submitted his resignation letter to Prime Minister over the heist of US$101 million from the central bank account with the New York Federal Reserve Bank by hackers last month. Meanwhile, a section of investors staged demonstration in front of the DSE building after the BB governor's resignation news. They also shouted slogans against Atiur Rahman and demanded his punishment for failure to protect the BB reserves. The market started amid rising enthusiasm, as key index of the prime bourse crossed the 4,500-mark in the mid-session. However, as the session progressed the upbeat tone slowed down amid surging volatility and DSEX finally closed marginally higher. http://print.thefinancialexpress-bd.com/2016/03/16/136628 Rakibur elected shareholder-director of DSE Rakibur Rahman, Midway Securities managing director, was on Tuesday elected shareholder-director of the Dhaka Stock Exchange for a three-year tenure defeating the lone contestant Minhaz Mannan Emon, BLI Securities managing director. According to DSE election commission declared result, of the 242 valid votes, 220 were cast. Of the cast votes, Rakibur got 131 and Emon bagged 86, while three were cancelled, the election commission for the bourse‟s director poll declared the result on Tuesday after the voting. -
ICAB Monthly News Bulletin March 2016 Issue
March 2016 ICAB NEWS BULLETIN Monthly News Briefing from the Institute of Chartered Accountants of Bangladesh Number 317 No Choice but to Implement Value Added Tax and Supplementary Duty Act NBR Chairman says at ICAB’s Members’ Conference No Choice but to 01 Implement... Duty Act ACCA Country Manager 02 Met ICAB President Felicitation to Dr 02 Jamaluddin Ahmed Training in Leadership... 03 Management ends ICAB President attended 03 NBR National Seminar Chairman of the National Board of Revenue (NBR) Nojibur Rahman addressing the members’ confer- ICAB Delegates Meet 03 ence of the Institute of Chartered Accountants of Bangladesh (ICAB) on ‘From Differential to Uniform Chittagong City Mayor Rate System in Bangladesh: Political Economy of Reforming Value Added Tax’ at the ICAB auditorium President’s Communication 04 as chief guest on Monday evening. Barrister Jahangir Hossain Member (VAT policy), NBR was also March 2016 present as special guest. ICAB Past President Dr. Jamaluddin Ahmed , ICAB President Kamrul Abedin FCA, session chairman Md. Humayun Kabir FCA, Past President-ICAB and Vice President Mahmudul Workshop on Examination 07 Techniques for CA Students Hasan Khusru FCA are also seen on the dais. Felicitation to newly 07 Appointed BB Governor hairman of the National Board of Revenue important role in NBR’s VAT reforming policy (NBR) Nojibur Rahman said that the NBR and the process of increasing revenue ICAB President attended 07 Contract Signing... DMTCL Chas now no choice but to implement the collection of the government. Value Added Tax and Supplementary Duty Act. Members’ Achievement: 07 The chief guest made the remarks while He added that global policy on finance and Congrats ! addressing the members’ conference of the trades have been undergoing reform in terms of Workshop on Job 07 Institute of Chartered Accountants of Interview Techniques capacity building to ensure sustainable development of economics. -
October-December 2020 Islamic Banking Cell
Developments of Islamic Banking in Bangladesh1 October-December 2020 Islamic Banking Cell Research Department Bangladesh Bank 1Prepared by Islamic Banking Cell, Research Department, Bangladesh Bank (The Central Bank of Bangladesh). Feedbacks are welcome. Feedbacks may be sent to Md. Golzare Nabi, General Manager, Research Department, Bangladesh Bank. (E-mail: [email protected]), Md. Jasim Uddin, Deputy General Manager, E-mail: [email protected], Md. Mokhlesur Rahman, Joint Director (E-mail: [email protected]) and Md. Alamin, Assistant Director (E-mail: [email protected]) 1 Developments of Islamic Banking in Bangladesh October-December 2020 Islamic financial sector continues to grow globally following its risk sharing, resilience, inclusive and real asset backed transactions features. In Bangladesh, Islamic banking sector has also recorded robust growth due to policy supports from Bangladesh Bank and public demand. Recently Bangladesh Bank on behalf of the Government has issued sovereign investment sukuk which will smooth liquidity management of Islamic banks, help financing budget deficit and promote Islamic capital markets to raise funds for infrastructure and industrial projects towards achiving higher inclusive GDP growth including sustainable development goals (SDGs). At the end of December 2020, Bangladesh’s 8 full-fledged Islamic banks have been operating with 1311 branches out of total 10752 branches of the whole banking sector. In addition, 19 Islamic banking branches of 9 conventional commercial banks and 198 Islamic banking windows of 14 conventional commercial banks are also providing Islamic financial services in Bangladesh. It may be mentioned here that One Bank and UCB Bank have also started offering Islamic Shariah compliant financial services through dedicated windows. -
Agent Banking Activities in Bangladesh
Quarterly Report on Agent Banking July-September 2020 Financial Inclusion Department Bangladesh Bank Head Office, Dhaka Agent Banking Activities in Bangladesh Table of Contents List of Figures ................................................................................................................................. ii Executive Summary ..................................................................................................................... iii 1. Introduction.............................................................................................................................. 1 2. Agent Banking Coverage ........................................................................................................ 2 2.1 Number of Agents and Outlets.......................................................................................... 2 2.2 Geographical Concentration ............................................................................................. 2 2.3 Growth of Agents and Outlets .......................................................................................... 3 3. Customer Penetration ............................................................................................................. 4 3.1 Number of Accounts ......................................................................................................... 4 3.2 Category-wise Accounts ................................................................................................... 4 3.3 Growth of Accounts .........................................................................................................