Prof Abu Nasser            Engr Md. Eskander Ali Khan       Mohammad Abdul Mannan

Staff Correspondent: Islami Bank Bangladesh Limited (IBBL) is a joint venture public limited company engaged in commercial banking business based on Islamic Shari’ah with 58.03% foreign shareholding having largest branch network (236 branches & 30 SME/Krishi branches i.e. total 266 branches) among the private sector banks in Bangladesh. It was established on 13th March 1983 as the first Islamic bank in the South East Asia.
IBBL is listed with Dhaka Stock Exchange and Chittagong Stock Exchange. Authorized capital of the bank is Tk 20,000 million ($244.87 million) and paid-up capital is Tk 10,007.71 million ($122.53 million) having 63,001 shareholders as on 31 December 2011.
The mission of the bank is to establish Islamic banking through the introduction of a welfare oriented banking system and also ensure equity and justice in the field of all economic activities, achieve balanced growth and equitable development in through diversified investment operations particularly in the priority sectors and less developed areas of the country. To encourage socio-economic upliftment and financial services to the loss-income community particularly in the rural areas.
Vision of IBBL is to always strive to achieve superior financial performance, be considered a leading Islamic Bank by reputation and performance, to establish and maintain the modern banking techniques, to ensure soundness and development of the financial system based on Islamic principles and to become the strong and efficient organization with highly motivated professional, working for the benefit of people, based upon accountability, transparency and integrity in order to ensure stability of financial systems. It also tries to encourage investment particularly in projects which are more likely to lead to higher employment.

IBBL Managing Director Mohammad Abdul Mannan is receiving Best Rated Bank Award from former Advisor of caretaker government Dr. A B Mirza Azizul Islam -The Industry
 

Aims and Objectives
To conduct interest-free banking.
To establish participatory banking instead of banking on debtor-creditor relationship.
To invest on profit and risk sharing basis.
To accept deposits on Mudaraba & Al-Wadeah basis.
To establish a welfare-oriented banking system.
To extend co-operation to the poor, the helpless and the low-income group for their economic upliftment.
To play a vital role in human development and employment generation.
To contribute towards balanced growth and development of the country through investment operations particularly in the less developed areas.
To contribute in achieving the ultimate goal of Islamic economic system.
IBBL Products
All kinds of banking services, Retail Banking, Corporate Banking, Investment Banking, ATM Services, etc.
Retail Banking Products
As a consumer bank Islami Bank Bangladesh Limited provide consumer loans, Islami deposit schemes, Accounts, ATM Card services, Locker & Other Banking Services.
ATM Networks
Islami Bank Bangladesh Limited now has its own ATM network with 48 booths. IBBL also has 85 shared ATM booths with ETN covering major cities and distrcits of the country. IBBL is on its way to expand their ATM network country wide. IBBL card holders can withdraw cash, pay BTTB, GrameenPhone, CityCell and AkTel bill and monthly installments of MSS, Hajj, Muhor and HDS schemes through ATM.
Awards & Achievements
Islami Bank Bangladesh Limited (IBBL) is awarded The Best Bank of Bangladesh for the year 1999, 2000, 2004, 2005 to 2010 and The Best Islamic Financial Instution in 2008, 2009 by The Global Finance, a reputed London based quarterly magazine.
Islami Bank Bangladesh Limited (IBBL)’s World Rating As per Bankers’ Almanac (January 2001 edition) published by the Reed Business Information, Windsor Court, England, IBBL’s world Rank is 1771 among 3000 banks selected by them. This position was 1902 among 4500 selected banks as on January 1999 edition. IBBL’s country Rank is 5 among 39 banks as per ratings made by the above Almanac on the basis of IBBL’s Financial Statements of the year 2001.
Corporate Social Responsibility
Islami Bank Bangladesh Limited is dedicated itself towards the welfare of the society. It has formed a separated foundation named Islami Bank Foundation with a fund of Tk 38 million in order to conduct social-welfare activities on a broad scale. Since then, Islami Bank Foundation is carrying the social welfare, education, health and medicare activities on behalf of Islami Bank.
The aims and objectives of the Foundation are to serve distressed humanity, promote people oriented mass education, extend health and Medicare facilities to the poverty-stricken people in urban and rural areas, create facilities for productive self-employment and develop human resources for improving  economic condition and quality of life, assist healthy growth of art, culture and literature, science and technology, sports, research and propagation of Islamic teachings. The Foundation has taken up a number of schemes covering the whole of Bangladesh.
Islami Bank Foundation has some special projects for CSR activity, these are:
Islami Bank Hospital
Islami Bank Medical College, Rajshahi
Community Hospital
Monoram: Islami Bank Crafts & Fashion
Service Centre
Islami Bank Institute of Technology
Islami Bank International School and College
Islami Bank Physiotherapy and Disabled Rehabilitation Centre
Centre for Development Dialogue
Bangladesh Sangskritic Kendra (Cultural Centre)
IBBL is now the largest net worth bank of Bangladesh handling highest amount of deposit and investment. It is also leader of foreign remittance business, sharing about 30% of the market stake.
The dynamic management of IBBL is now led by veteran banker Mohammad Abdul Mannan as the Managing Director and CEO. The board of the bank is led by Prof. Abu Naser Md. Abdus Zaher, an Islamic think tank. The Executive Committee (EC) of the bank is led by Engr. Md. Eskander Ali Khan.

Huge NPL and cumulative loss are
main burden for ICB Islamic Bank

Tan Sri Dr. Hadenan bin Abdul Jalil          Mamoon Mahmood Shah  

Staff Correspondent: The performance of ICB Islamic Bank (formerly Al-Baraka Bank) is very poor due to huge non-performing loan burden. The cumulative loss of the bank now stood at more than Tk 1500 crore. It is rather treated as a ‘burden bank’ for Bangladeshi banking sector.
ICB Islamic Bank Limited was registered as a public limited company on April, 1987 under the Companies Act, 1913. Through the incorporation it was allowed to perform all kinds of banking, financial and business activities of a commercial bank. The bank committed to carry out its duties in strict compliance with Islamic Laws (Shariah). ICB Islamic Bank started functioning as a commercial bank on 20 May 1987.
ICB Islamic Bank Ltd. Bangladesh and another thirteen banks in different countries of Africa, Asia and Europe are the members of ICB Financial Group Holdings AG. As an international bank ICB Group is trying to flourish further at new host countries. This group is registered in Switzerland while its global management is situated in Kuala Lumpur, Malayasia.
Each of the bank in the group is enriched with competent bankers who work hard to improve its activities further and thus to participate in the financial development of the respective country under the guide lines of their central bank.
Normal Banking
This bank provides all normal banking services to its customers. This includes deposit accounts like Mudarabah Savings Account and Al WadiyahCurrent Account.
Other deposit schemes offered by ICB Islamic Bank are: Mudaraba Short Term Deposit (MSTD), and Al- Mukuafa Executive Account. All these accounts require a specified minimum amount to deposit for opening it. The bank distributes profits against each account except Al Wadiyah Current Account in conformity with Islamic Laws (Shariah).
ICB Islamic Bank provides fund transfer services like Pay Order, Foreign Demand Draft and Intercity Transaction.
Credit Schemes
ICB Islamic Bank presents several credit schemes for its clients. These are: Manzil (Home) Finance, Rahabar (Auto) Finance, and Saahib (Personal) Finance.
Manzil (Home) Finance scheme provides loan for building a house or buying an apartment. You can have a loan in this scheme for renovation of your existing house also. The loan amount varies from BDT 5.0 Lac to 1.0 Crore.
Now a days in Bangladesh a car has become an essential commodity for lower middle class people also. You need to buy a car, but you don’t have sufficient fund. In such cases ICB Islamic Bank comes forward with fund. The incumbent has to pay the money back at reasonable terms and conditions.
Murabaha Under Secured Guarantee is another scheme presented by ICB Islamic Bank. You may obtain this guarantee for amounts BDT 10,000 and above.
Other Products and Services
ICB Islamic Bank presents ATM card for its valued clients. You can withdraw cash from ICB ATMs and at the same time from Q-Cash, Dutch Bangla Bank and Omnibus ATMs. Charges are quite low.
To get rid of worries about the safety of your valuables you may need a Locker service. ICB has developed the provision for you with three different sizes of lockers. These are small, medium and large. The charges are reasonable for the locker service.
Mamoon Mahmood Shah is the present Managing Director of the bank, while Tan Sri Dr Hadenan bin Abdul Jalil is the Chairman of the bank.
The management of the bank is trying to uplift the situation but huge non-performing loan (NPL) and cumulative loss are the main obstacle for development.

National Bank pioneered remittance
services through legal channel

                 ZH Sikder                          Parveen Haque Sikder                       Neaz Ahmed                   Shamsul Huda Khan

Staff Correspondent: National Bank Limited (NBL) has its prosperous past, glorious present, prospective future and under processing projects and activities. Established as the first private sector bank fully owned by Bangladeshi entrepreneurs, NBL has been flourishing as the largest private sector Bank with the passage of time after facing many stress and strain. The members of the board of directors are creative businessmen and leading industrialists of the country. To keep pace with time and in harmony with national and international economic activities and for rendering all modern services, NBL, as a financial institution, automated all its branches with computer networks in accordance with the competitive commercial demand of time. Moreover, considering its forth-coming future, the infrastructure of the Bank has been rearranging. The expectation of all class businessmen, entrepreneurs and general public is much more to NBL. At present NBL has 155 branches network.
In addition, effective and diversified approach to seize the market opportunities is going on as continuous process to accommodate new customers by developing and expanding rural, SME financing and offshore banking facilities NBL is actively working toward serving the nation.

Prime Minister Sheikh Hasina handed over cheques for Tk 24 lac for 4th year to the five army officers families held at a simple ceremony held at Gono Bhaban in the city recently. Parveen Haque Sikder, Director & Chairperson of the Executive Committee of National Bank Limited and Neaz Ahmed, Managing Director & CEO of the bank were present at that time.

National Bank Limited was born as the first hundred percent Bangladeshi owned Bank in the private sector. From the very inception, it was the firm determination of National Bank Limited to play a vital role in the national economy. ‘We are determined to bring back the long forgotten taste of banking services and flavours. We want to serve each one promptly and with a sense of dedication and dignity, says Neaz Ahmed, the Managing Director and CEO of NBL.
The then President of the People’s Republic of Bangladesh Justice Ahsanuddin Chowdhury inaugurated the bank formally on March 28, 1983 but the first branch at 48, Dilkusha Commercial Area, Dhaka started commercial operation on March 23, 1983. The 2nd Branch was opened on 11 May, 1983 at Khatungonj, Chittagong. The bank is on the eve to celebrate dedicated 30th years of banking services in Bangladesh.

NBL Managing Director is receiving certificate for ‘Excellence of Remittance’ from Finance Minister AMA Muhith -The Industry

Since the very beginning, the bank has exerted much emphasis on overseas operations and handled a sizable quantum of home bound foreign remittance. It has drawing arrangements with 415 correspondents in 75 countries of the world, as well as with 37 overseas Exchange Companies located in 13 countries. NBL was the first domestic bank to establish agency arrangements with the world famous Western Union in order to facilitate quick and safe remittance of the valuable foreign exchanges earned by the expatriate Bangladeshi nationals. This has meant that the expatriates can remit their hard-earned money to the country with much ease, confidence, safety and speed.
NBL was also the first among domestic banks to introduce international Master Card in Bangladesh. In the meantime, NBL has also introduced the Visa Card and Power Card. The Bank has in its use the latest information technology services of SWIFT and REUTERS. NBL has been continuing its small credit programmes for disbursement of collateral free agricultural loans among the poor farmers of Barindra area in Rajshahi district for improving their livelihood.
National Bank, has now acquired strength and expertise to support the banking needs of the foreign investors. NBL stepped into a new arena of business and opened its Off Shore Banking Unit at Mohakhali to serve the wage earners and the foreign investors better than before.
Since its inception, the bank was aware of complying with Corporate Social Responsibility. In this direction, they have remained associated with the development of education, healthcare and have sponsored sporting and cultural activities. During times of natural disasters like floods, cyclones, landslides, they have extended their hand to mitigate the sufferings of victims. It established the National Bank Foundation in 1989 to remain involved with social welfare activities. The foundation runs the NBL Public School & College at Moghbazar where present enrolment is 1140. Besides awarding scholarship to the meritorious children of the employees, the bank has also extended financial support for their education. It also provided financial assistance to the Asiatic Society of Bangladesh at the time of their publication of Banglapedia and observance of 400 years of Dhaka City.
The Transparency and accountability of a financial institution are reflected in its Annual Report containing its Balance Sheet and Profit & Loss Account. In recognition of this, NBL was awarded Crest in 1999 and 2000, and Certificate of Appreciation in 2001 by the Institute of Chartered Accountants of Bangladesh.
The bank has a strong team of highly qualified and experienced professionals, together with an efficient Board of Directors who play a vital role in formulating and implementing policies.
Emergence of National Bank in the banking arena of Bangladesh was a remarkable event. While the national economy was sunken in severe recession some dynamic people with a vision came forward to establish a commercial bank. Their attempt was to help the economy of the country to revitalize.
Products & Services
The products and services rendered by NBL are mainly Deposit products, Credit products and Card services.
Deposit products offered by the bank are:
Savings Deposit
Current Deposit
Term Deposit
Foreign Currency Deposit
Monthly Savings Scheme
Monthly Income Scheme
Double Benefit Scheme
Millionaire Income Scheme
Term Deposit of NBL may be sub divided into two. These are Special Notice Deposit (SND) and Fixed Deposit. The bank provides interest to SND account and allows you to withdraw money at any time. Fixed Deposit account is naturally supposed to retain the money for the fixed term and then you’ll have full benefit.
NBL presents opportunity for resident and non- resident Bangladeshis to have foreign currency accounts with interest.
Monthly deposit Scheme is a forced savings for limited income people. You have to deposit a fixed amount from Tk. 500 to a maximum of Tk 10,000 every month. After a term of 3, 5, or 8 years you’ll get a handsome amount including interest.
For Monthly income scheme you may deposit a minimum amount of Tk 100,000 and a maximum of Tk 5,000000 for three years and you get in return a monthly income of Tk 1000 for every Tk 100,000.
Double benefit scheme of NBL doubles your money in only 6 years. You are to deposit a minimum of Tk. 50,000 or any of its multiples. Maximum ceiling is Tk 5,000000.
Millionaire income scheme will make you an owner of Tk 1 million in 5, 7, or 10 years through a monthly deposit. Installment varies accordingly.
The credit schemes provided by NBL are appended below:
Overdraft
Lease Financing
House Building
Small and Medium Enterprise
Consumer Credit Scheme
Trade Finance
NBL maintains Over Draft opportunity for corporate clients to facilitate their day to day business operations. This is offered against deposit receipt or mortgage of property.
The bank provides Lease finance facility for Capital machinery, Different equipment, Gas /Diesel generator, Power Plant, Medical equipment, Lift/Elevator, Information Technology equipment, Construction equipment, and Consumer durables. The pay back is in easy installments.
A home of your own is not too far. You can have a loan from NBL for purchasing an apartment or for building a house. Maximum allowable loan is 70% of total value or Tk 7,500000 which one is higher. You may have a grace period of 9 to 12 months.
NBL has come forward to support financially the small businesses and small enterprises with new products named Festival Small Business Loan and NBL Small Business Loan. Maximum limit of loan is Tk 300,000 and Tk 500,000 respectively for the two schemes.
Consumer credit is available from this bank for electronic consumer goods and for computer/computer peripherals. Interest rate is competitive.
NBL provides Trade Finance to almost all types of commercial concerns. It provides Working capital for industrial entrepreneurs, Trade finance for business, Issuance of import L/C, Confirming of export L/C, and ensures Bonds and Guarantees.
Credit & Debit cards
National Bank presented its International Master Card service before any other local bank here. In the meantime it has also introduced Visa and Power Cards (Debit card).
The mission under taken by NBL during its inception was never ignored by it and it’s still working for the country and for the nation with full commitment.
The management team of the bank discharging ultra-modern services to the nation headed by its Managing Director and CEO Neaz Ahmed while the board of the bank is supporting the management headed by renowned philanthropist Zainul Haque Sikder. Parveen Haque Sikder is the Executive Committee (EC) Chairperson of the Bank. The overseas banking, remittance operations and International banking of NBL is run headed by Shamsul Huda Khan, the Deputy Managing Director.

UCB achieves remarkable success

Alhaj Akhtaruzzaman Chowdhury, MP    M A Sabur         Jahangir Alam Khan        M. Shahjahan Bhuiyan

Industry Report: United Commercial Bank (UCB) started its operation in mid-1983 and since has been able to establish one of the largest network of 119 branches among the first generation banks in the private sector. UCB has played a remarkable role in the private sector banking during last three decades.
With its firm commitment to the economic development of the country, the Bank has already made a distinct mark in the realm of Private Sector Banking through personalised service, innovative practices, dynamic approach and efficient Management. The Bank, aiming to play a leading role in the economic activities of the country, is firmly engaged in the development of trade, commerce and industry thorough a creative credit policy.
The bank has in its management a combination of highly skilled and eminent bankers of the country of varied experience and expertise successfully led by M. Shahjahan Bhuiyan, a dynamic banker, as its Managing Director and well educated young, energetic and dedicated officers working with missionary zeal for the growth and progress of the institution.
UCB is committed for sustainable development of the country. Visionary policy makers along with a dynamic Management team are leading UCB to its goal. It has created a clear difference from the competitors with its fast, friendly and personalized services to its clients. Modern, world-class banking is made available here in Bangladesh by UCB.

Shahjahan Bhuiyan, Managing Director of United Commercial Bank Ltd (UCBL) has won ‘Best Banker-2010’ award launched for the first time by Institute of Bankers, Bangladesh (IBB). A six-member jury-board headed by distinguished banker Khondkar Ibrahim Khaled selected the UCBL MD as the best banker for the year 2010 taking into consideration the performances on some basic aspects such as deposit, advances, classified loan and profit of the banks. Bangladesh Bank Governor Dr Atiur Rahman handed over the prestigious award to Bhuiyan at a city hotel on February 15.

UCB provides all general banking services to its clients through its 119 branches all over the country. Savings and current accounts, transfer of money, Western Union Money Transfer are some of the services UCB presents.
Deposit Schemes
DPS plus, Earning plus, Deposit Insurance scheme, Multimillionaire, Money maximizer, Time deposit scheme, Monthly saving scheme etc. are some of their deposit services. Clients having requisite qualifications may have Foreign Currency Deposit accounts in UCB.
UCB Multimillionaire scheme is a deposit service providing you a great opportunity of saving a good amount in a short time. The interest rate is quite high for idle money. There are three levels in this scheme, namely 1 million, 5 million, and 10 million Taka. You have to deposit an amount every month for 5 to 15 years and at the end you get the full amount as declared.
UCB Moneymaximizer is a lucrative deposit scheme for limited income people. This scheme pays 9.10% of interest and the deposit is doubled just in 8 years.
Loan and credit services
UCB caters export and import loan to deserving candidates which in turn helps the overall economy of the country through increased earning of foreign exchange. It also disburse loan to entrepreneurs for working capital. Trade and industry are also financed by the bank.
The bank provides Consumer Loan to potential customers for purchasing consumer products. This scheme enhances the standard of living for the young and hard working people.
Remittance services
UCB provides its clients with both incoming and outgoing remittance services. Thus the expatriates find an easy way to send money through proper channel.
Stock brokerage sevice
United Commercial Bank, through its subsidiary UCB Securities Limited provides stock brokerage, share transfer, portfolio management and fund management to issue in capital and security market.
At the same time underwrites, manages, and distributes the issue of stock share, bonds, and other securities.
Innovative Services
UCB has started a unique service named SMS Banking Service to its customers. So the bank comes to your palm top instead of your rushing to the bank. UCB issues Travelers checks for its customers willing to travel abroad. The bank has introduced online banking service to its valued customers. It provides Credit cards service for the interested clients. Three types of cards are offered with varied facilities. The types are Classic, Gold and Pink. Another extra ordinary one is Credit Card for Ladies. Locker service for your valuables is there in UCB. All major branches provide the service. UCB provides One Stop Service for deserving clients and thus provides a fast service to them.
Saturday Banking
UCB provides Saturday banking service through its four branches having trade and business potentiality. These are Principal Branch, Dhaka, Narayanganj Branch, Gulshan Branch, and Agrabad Branch, Chittagong.
Performance
The present management headed by its Managing Director M. Shahjahan Bhuiyan, United Commercial Bank has been able to make a breakthrough in operations and it is now one of the leading commercial banks of the country.
The capital base, asset quality and financial footing of UCB are treated as ‘strong.’
The board of the bank headed by veteran social activist and parliamentarian Alhaj Akhteruzzaman Chowdhury is also providing proper direction to the management for smooth operation targeting to achieve the expected goal.

IFIC Bank products fetch huge market response

  Salman F Rahman       Mohammad Abdullah

Staff Correspondent: IFIC Bank started functioning as a finance company in 1976. It was formed as a joint venture between the Government of Bangladesh and several farsighted sponsors from private sector. As GoB relaxed rules and allowed private sector to establish banks in 1983, IFIC was transformed into a commercial bank. At present GoB owns 32.75% of total shares of the bank and private entrepreneurs own 8.62% of that. And the rest is in the hands of general people.
The bank set its mission to present quality service to the clients through its skilled work force having dedication and innovative talents led by Mohammad Abdullah, the Managing Director.

Chairman of IFIC Bank Mr. Salman F Rahman made the announcement on the introduction of IFIC Bank Literary Award - 2011 at a Press Conference at Hotel Purbani. Chairman of the Executive Committee Mr. Mohammad Lutfar Rahman, Member of the Board of Director Dr. Mohammad Ali Khan and Managing Director Mr. Mohammad Abdullah were present at the press conference.

This bank performs all commercial banking activities including a number of innovative savings and investment schemes.
Deposit Schemes
The deposit schemes offered by IFIC Bank are:
Fixed Deposit Receipt (FDR)
Special Notice Deposit (SND)
Pension Savings Scheme (PSS)
More Money
School Savings Plan - A plus
Monthly Income Scheme - Protimash
Double Return Deposit Scheme
Three Years Deposit Plus
These schemes are designed mostly for limited income people to help them save for future. Terms and conditions vary a little from scheme to scheme. But still these are attractive for the clients and created sensation in the market.

School Saving Plan is some different from other programs. This plan may develop a saving habit in your child. (From Page-9)
Non Resident Bangladeshis (NRB) earning foreign currencies have the opportunity to open an account in the bank. Moreover, they may invest in FDR and Bonds in IFIC. NRBs can remit their hard earnings through this bank as well.
Student File is a program for Bangladeshi students going abroad to study in under graduate or post graduate courses. They are issued Drafts for tuition and other expenses from some authorized dealer branches of IFIC Bank.
SMS Banking is a demand of time. People like to contact everything they need through their cell phone. IFIC has done this in right time. You may have very vital information about your account through SMS.
Credit Schemes
Credit schemes of IFIC bank can be classified into three major groups. These are Corporate Banking, SME Banking and Consumer Finance. From the very names it’s clear that first two are oriented towards industrial and commercial clients and the third one is mainly for individual clients. Under corporate banking this bank offers following programs:
Working Capital Finance
Project Finance
Term Finance
Trade finance
Lease Finance
Syndication Finance
Each of the schemes is designed to meet the growing demands of corporate clients through cash, credit and consultative services. For your big industrial projects IFIC may arrange syndication of banks even. So you may ask the bank for whatever you need from it.
Small and Medium Enterprises of Bangladesh are critically vital for generation of employment, alleviation of poverty and increasing GDP growth. IFIC has given correct emphasize on this sector through a good number of programs. These are shown below:
Easy Commercial Loan
Retailers loan
Transport Loan
Commercial House Building Loan
Possession Right Loan
Contractor’s Loan
Bidder’s Loan
Working Capital Loan
Project Loan
Letter of Guarantee
Letter of Credit
Loan against Imported Merchandize (LIM)
Loan against Trust Receipt
Muldhan
Women Entrepreneur’s Loan (Protyasha).
Each of the schemes is designed to meet up typical needs of SMEs. In addition women are given proper importance to come in the financial activities and contribute through their creativity.
Consumer Finance schemes are mainly for limited income people to enhance their financial abilities. Thus you may get the items and services of your dream to come true right now. The schemes are:
IFIC Easy Loan
Consumer Durable Loan
Parua (Education Loan)
Thikana (Home Loan)
Any Purpose Loan
IFIC Marriage Loan
CNG Conversion Loan
IFIC Home Renovation Loan
IFIC Medical Loan
IFIC Holiday Loan
IFIC Peshajeebi Loan
IFIC Auto Loan
So if you are a person of this group you may have a loan to fulfill your needs and dreams and pay back in easy terms.
IFIC bank provide you these services and many more through their 89 branches all over the country.
The efficient management team of the bank offers international standard banking and financial services to the clients led by the Managing Director Mohammad Abdullah. The board of the bank is headed by veteran business personality of South Asia Salman F. Rahman as the Chairman.
Corporate Social Responsibility (CSR): A cornerstone of IFIC Bank
Corporate Social Responsibility (CSR) is a built-in, self-regulating mechanism in the IFIC Bank whereby the bank monitors and ensures its active compliance with the spirit of the law, ethical standards and international norms. The Bank’s CSR goal is to embrace responsibility for its actions and encourage a positive impact through its activities on the environment, consumers, employees, communities, stakeholders and all other members of the public sphere whom we consider as our stakeholders.
The Bank’s CSR initiatives, focused on operating in socially, economically and environmentally sustainable ways, are aimed at meeting the needs and expectations of its stakeholders–investors, customers, employees, partners, suppliers, government, NGOs and society in general. The initiatives are centered on addressing the needs of common people to make a positive and meaningful contribution to the society.
These initiatives go beyond its corporate obligation to voluntary activities that promote sustainable development. The Bank’s CSR activities are in line with its commitment to the welfare and economic prosperity of the people and the community, for we derive from them our inspiration and drive for onward progress to prosperity.
The basic principle of the Bank’s CSR activities is to focus on the triple bottom line (3BL) – people, planet and profit, which captures an expanded spectrum of values and criteria for measuring its corporate success: economic, ecological, and social.
During the year 2011, the Bank undertook the following measures in line with its CSR plan:
Donation of Hino Bus to Students of Dhaka University
The Bank donated a Japanese made 52-seater Hino bus worth Tk 66 Lac on December 19, 2011 to the Dhaka University to reduce the transportation problem of the students.
DU Vice Chancellor Dr. AAMS Arefin Siddique received the bus from Mr. Aminur Rahman, Director, and Mr. Mohammad Abdullah, Managing Director, of the bank.
Thanking IFIC Bank for donating the bus, the Vice Chancellor said: “The varsity had to rent buses from BRTC to commute students as the number of buses was inadequate.”
Mr. Aminur Rahman said IFIC Bank is playing an important role for the socio-economic development of the nation. “The Bank will continue its efforts for greater benefits of the nation.”
Donation of a Dialysis Machine to BIRDEM Hospital
The Bank donated a state-of-the-art dialysis machine worth Tk 12.50 Lac to BIRDEM Hospital to facilitate treatment of the kidney patients.
President of the Bangladesh Diabetic Samity (BDS) Prof AK Azad Khan and other top officials of BIRDEM Hospital received the machine from IFIC Bank authorities at a simple ceremony at the hospital at Shahbagh.
Senior Lawyer Barrister Rafiqul Haque, noted physician Dr. AR Khan, Member of the Board of Directors of IFIC Bank Mr. Syed Anisul Huq, Secretary General of BDS Mr. Sayef Uddin, Chairman of Nephrology Department of BIRDEM Hospital Prof Dr. Abul Mansur and Managing Director of the Bank Mohammad Abdullah attended the handing over ceremony. Mr. Mati-ul Hasan, Deputy Managing Director (Business) and top officials of both sides were also present at the program.
Lauding IFIC Bank, Barrister Rafiqul Haque said it is a good sign that the corporate bodies like banks are generously contributing to the health sector. Everyone should work not only for profits but also for the welfare of the society, he added.
Thanking IFIC Bank for donating the dialysis machine, Prof AK Azad Khan hoped that the bank will play much bigger roles in future for making critical healthcare services available to the people.
Syed Anisul Huq said: “The IFIC Bank came forward to donate the dialysis machine as we found there is a great scarcity of resources in the hospital to cope with the demand of numerous patients. We will continue our efforts for greater welfare of people.”
3) Donation of an Ambulance to Anjuman-e Mofidul Islam
As part of the Bank’s CSR activities, a modern ambulance was donated to Anjuman-e Mofidul Islam, a humanitarian organization well-known for its burial services to unclaimed dead bodies, in line with the advice of the Board of Directors.
4) Tk 10 lac to National Shooting Federation
In international level, Bangladesh achieved the most prestigious sports award from shooting. National Shooting Federation-Bangladesh has been working to create a pool of shooters like Abdus Sattar Nini and Asif Ahmed Khan who brought glory for the country at Commonwealth Games and Asian Games.
As a part of its effort to develop the sport, the Shooting Federation organized the Airgun Championship-2011 in October-2011 at National Shooting Federation Complex. It requested the bank to sporsor the program with Tk 10 lac. As the bank intended to contribute to the development of games & sports, the board and management accepted the request for the said program.
The bank has also been providing significant financial assistance in short, mid and long terms to the shooting federation with an aim to help the sport develop and bring glory to the nation by winning awards/medals at international level like Olympic, Commonwealth Games and so on.
5)Donation to International Rice Research Institute (IRRI)
International Rice Research Institute (IRRI) sought financial assistance in September 2011 in order to raise funds for strengthening its research and development works. After receiving the proposal, the Board and Management reviewed it and decided to donate Tk 6 lac to International Rice Research Institute (IRRI).
6) Assistance to Asian Tourism Fair-2011
Parjatan Bichitra, a travel & tourism magazine, organized the Asian Tourisum Fair from September 29-30 & October 01, 2011 at Bangabandhu International Conference Centre (BICC). They have requested the Bank for financial assistance for organizing the program. The Bank provided Tk 2 lac and became the title sponsor of the fair.
7) Donations to artist Dhali Al Mamun & Freedom Fighter Md. Abdul Wadud
Association of Bankers’ Bangladesh (ABB) mobilized a fund for the treatment of painter Dhali Al Mamun. He suffered a serious injury during a fatal road accident in which noted film-maker Tareque Masud and ATN News CEO Mishuk Muneer died. Mr. Dhali required a big amount of money for his long treatment. ABB requested our bank to contribute generously for the said cause. Responding to the request, the Bank donated Tk 1 Lac for helping Dhali Al Mamun for his treatment.
The Bank also donated Tk 10 thousand for the treatment of a freedom fighter Md. Abdul Wadud of Kaliganj area under Jhenaidah districts. He was suffering from eye diseases.
8) Donation to National Debating Club
Bangladesh Debating Council-BDC dispatched Bangladesh national school debating team to the City of Dundee, Scotland to participate in the World School Debating Championship-2011. The program held from August 16, 2011 to August 26, 2011 was hosted by the City of Dundee. BDC has been working to improve the quality of debating in Bangladesh. BDC sought assistance from our Bank to finance above mentioned program which was participated by delegates from about 80 countries.
Taking their request in account, an amount of Tk 2.5 lac was donated to Bangladesh Debating Council-BDC for helping the debating team attend the World School Debating Championship-2011.
9) Book distribution to Kushtia Missionary Primary School
As part of our Bank’s CSR activities, our Kushtia Branch spent Tk 25,000 for purchasing 300 books as gift for the library of Kushtia Mission Primary School, Kushtia. The books were handed over to Head Mistress of Kushtia Mission Primary School on October 24, 2011 in the presence of members the Managing Committee and teachers of the School.
10) IFIC Bank distributes 4000 blankets among distressed people
The poor people suffer from heavy cold during winter season because they do not have sufficient warm cloths and also do not have enough ability to purchase warm cloths to protect themselves from cold. The poor people and their children thus lead a miserable life throughout the winter. To mitigate sufferings of poor people to some extent, the Bank distributed around 4000 winter cloths among the poorest people in about 25 districts across the country as part of our Bank’s CSR activities.
11) IFIC Bank introduces Literary Award 2011
The Bank introduced Literary Award-2011 with an aim to encourage creative writings in Bengali language.
Chairman of the IFIC Bank Mr. Salman F Rahman made an announcement on January 01, 2012 in this regard at a Press Conference at Hotel Purbani. He highlighted various aspects of the award and answered questions on the same.
Chairman of the Executive Committee Mr. Mohammad Lutfar Rahman, Member of the Board of Directors Dr. Mohammad Ali Khan, Managing Director Mohammad Abduallah and other top officials of the Bank attended the event.
The Chairman said each of the two winning writers will receive Tk 5 lac, a crest and a certificate under the literary award. In monetary term, this will be the biggest literary award in the country and also a springboard for excellence in our beloved Bengali literarure. In line with a Board approved guideline, the highest degree of neutrality will be maintained in the selection process of the award, he said.
Interested writers, publishers and readers submitted books in seven categories – novel, short story, essay, poems, travelogue, biography and translation, which were published between January 01, 2011 and December 31, 2011. Five copies of books were submitted to Managing Director’s office by or before February 21, 2012.
Following a thorough screening, the awards will be handed over to the winners through a grand gala event.
Milestones in the development
of IFIC Bank
1976: Established as an Investment & Finance Company under arrangement of joint venture with the Govt. of Bangladesh.
Commenced operation in Foreign Exchange Business in a limited scale.
1982: Obtained permission from the Govt. to operate as a commercial bank, set up its first overseas joint venture (Bank of Maldives Limited) in the Republic of Maldives (IFIC’s share in Bank of Maldives limited was subsequently sold to Maldives Govt. in 1992)
1983: Commenced operation as a full-fledged commercial bank in Bangladesh.
1985: Set up a joint venture Exchange Company in the Sultanate of Oman, titled Oman Bangladesh Exchange Company (Subsequently renamed as Oman International Exchange, LLC)
1987: Set up its first overseas branch in Pakistan at Karachi
1993: Set up its second overseas branch in Pakistan at Lahore
1994: Set up its first joint venture in Nepal for banking operation, titled Nepal Bangladesh Bank Ltd.
1999: Set up its second joint venture in Nepal for lease financing, titled Nepal Bangladesh Finance & Leasing Co. Ltd. (which was merged with NBBL in 2007)
2003: Set up a new bank in Pakistan, NDLC-IFIC Bank Ltd. (Subsequently renamed as NIB Bank Ltd.) and the overseas branches of IFIC and a local leasing company, NDLC were amalgamated with and into it.
2005: Acquired MISYS solution for real time online banking application, Core Risk Management implemented
2007: Launched VISA branded Credit Card (completed full range of Cards i.e. Debit, Credit & Prepaid by 2010)
2010: Set up Offshore Banking Unit (OBU)
2011: Established a fully owned subsidiary exchange company named IFIC Money Transfer (UK) Ltd. in the United Kingdom.

AB Bank pioneered private sector banking in Bangladesh
Many entrepreneurs created by AB Bank

  M. Wahidul Haque                Selim Ahmed                 M. Fazlur Rahman

Staff Correspondent: The laudable contribution to the national economy of AB Bank is really appreciating. AB Bank has not only pioneered the private sector banking but also created huge number of entrepreneurs in Bangladesh, some of them are now business conglomerates.
AB Bank Limited, the first private sector bank in Bangladesh was incorporated on 31 December 1981 as Arab Bangladesh Bank Limited and started its operation with effect from April 12, 1982. AB Bank is known as one of the leading banks of the country since its commencement 30 years ago. It continues to remain updated with the latest products and services, considering consumer and client perspectives. AB Bank has thus been able to keep their consumers’ and clients’ trust while upholding their reliability, across time.
During the last 30 years, AB Bank Limited has opened 85 branches in different Business Centers of the country, one foreign branch in Mumbai, India and also established a wholly owned Subsidiary Finance Company in Hong Kong in the name of AB International Finance Limited. To facilitate cross border trade and payment related services, the Bank has correspondent relationship with over 220 international banks of repute across 58 countries of the World.
In spite of adverse market conditions, AB Bank Limited which turned 30 this year, concluded the 2011 financial year with good results.
AB Bank believes in modernization. The bank took a conscious decision to rejuvenate its past identity – an identity that the bank carried as ‘Arab Bangladesh Bank Limited’ for long twenty five years. As a result of this decision, the bank chose to rename itself as ‘AB Bank Limited’ and the Bangladesh Bank put its affirmative stamp on November 14, 2007.
AB Bank commits to nation to take a lead in the Banking sector through not only its strong financial position, but also through innovation of products and services. It also ensures creating higher value for its respected customers and shareholders. The bank has focused to bring services at the doorstep of its customers, and to bring millions into banking channels those who are outside the mainstream banking arena. Innovative products and services were introduced in the field of Small and Medium Enterprise (SME) credit, Women’s Entrepreneur, Consumer Loans, Debit and Credit Cards (Local & International), ATMs, Internet and SMS Banking, Remittance Services, Treasury Products and Services, Structured Finance for Corporate, strengthening and expanding its Islamic Banking activities, Investment Banking, specialized products and services for NRBs, Priority Banking, and Customer Care. The Bank has successfully completed its automation project in mid 2008. It envisages enabling customers to get banking services within the comfort of their homes and offices.
AB Bank has continuously invests into its biggest asset, the human resource to drive forward with its mission ‘to be the best performing bank in the country.’ The bank has introduced Dress Code for its employees. Male employees wear designed ties and females wear Sharee or Salwar Kamiz, all the dresses are consisted with the unique AB Bank logo.
AB is recognized as the people’s choice, catering to the satisfaction of its cliental. Their satisfaction is AB’s success.
Over the years, AB Bank has contributed in many ways towards development of the private sector banking in the country. Many of the big industries in different fields of the economy has AB’s name attached and the bank remains a proud development partner of these industrial houses over the years. AB thrived on customer service and relationship banking which brought new dimensions to this particular service sector and many more new entrants to banking sector followed AB.
AB’s sponsors set a vision for the Bank which reads: ‘To be the Trendsetter for innovative banking with excellence and perfection’. Throughout these 30 years the bank raised the bar for itself through services, initiatives, products, customer support and performance towards that visionary path. Being a financial institution, your Bank is exposed to the entire gamut of economic developments and activities both within and outside the country.
AB Bank provides all commercial banking services like Current and Savings accounts, fund transfer, and utility bills receiving. In addition it presents a good number of deposit and credit schemes for the clients. All its services may be classified as follows:
Retail Banking
Corporate Banking
SME Banking
NRB Banking
Islami Banking
Retail Banking
Under Retail Banking head AB Bank offers some attractive deposit schemes mainly for limited income groups of the society. These schemes are listed below:
Family Savings Plan
Special Notice Deposit
Security Deposit Receipt
Fixed Deposit
Monthly Savings Deposit
Monthly Income Deposit
Deposit Double Scheme
Foreign Currency Deposit
All these schemes return competitive profit for the incumbent. You may choose some as per your requirement and ability.
The loan products for personal purposes of AB Bank are Personal Loan, Auto Loan, and Education Loan (for parents and for executives). These loan products demand a nominal personal guarantee and are secured by hypothecation of the commodity to be purchased. The interest rates are reasonable and competitive.
Corporate Banking
AB Bank manages a complete solution for your corporate business issues, whether you are a local trader or engaged in export and import businesses or you are an entrepreneur in industrial sector. The products and service available at ABBL for corporate people are numerous. Some of the major products are:
Project Finance
Working Capital Finance
Trade Finance
Cash Management
Syndicated Finance, both on-shore & off-shore
Equity Finance, both on-shore & off-shore
Corporate Advisory Service
AB Bank has developed expertise in syndication and structuring your loan for heavy projects and also for other financial assistance you may need for the development of your business of any size. Just pay a visit at the Corporate Head office of the bank and ask for what you need as a corporate client.
SME Banking
The contribution of SMEs in national GDP growth and employment generation during last 20 years is huge. Taking the facts in consideration AB Bank has rightly converged 54% of its total credit volume to this sector. The bank addresses multi disciplined small and medium scale enterprises of the country. It provides different types of programs for SMEs. The major fields of investment are apprised below:
Agro machinery
Poultry
Animal Feed
Dairy Product
Fruit Preservation
Hotel & Restaurant
Garment Accessories
Leather Product
Plastic Product
Furniture, Wood & Metal
Ink
Paint
Printing & Packaging
Wire & Cable
Aluminium
Cement & Lime Plaster
Clinics & Hospitals
Engineering & Scientific Instruments
It’s clear from the above that AB Bank attends most of our small and medium entrepreneurs. If you are a deserving candidate, you may approach any of its 82 branches for necessary service.
NRB Banking
A nonresident Bangladeshi may have a FC account at AB Bank. If you are one of them you may have a fixed deposit in foreign exchange also. Different foreign currency bonds are issued by the bank. This bank maintains a wide spread network with foreign banks and money exchanges for easy transfer of home coming remittances.
Islami Banking
Islami Banking is the demand of many people in present days. AB Bank responded to the demand in right time. A Shariah Council is constituted by Islamic scholars and bankers to scrutinize each and every Islami banking product and service before presenting it to the clients. Almost all products of ABBL have an equivalent Islami Banking product. So the customers having this channel of service are not deprived of anything. An individual branch of the bank is completely dedicated for Islami banking service.
Further to the above products and services AB Bank presented Card service with both Debit and Credit cards. Wide spread network of POS and ATMs are all over the country to make your life easy and risk free. So it’s evident that ABBL is marching towards the visionary goals it set 30 years back.
The management of the bank is now run by a highly skilled and professional bankers led by M. Fazlur Rahman, the President and Managing Director while the management is guided by the sophisticated board members led by Chairman M. Wahidul Haque.

The City Bank puts emphasis on IT-based services

           Rubel Aziz                  K. Mahmood Sattar

Staff Correspondent: City Bank is one of the first-generation private commercial banks operating in Bangladesh. It is one of the oldest five commercial banks in the country, which started operations in 1983. The bank started its journey on 27 March 1983 through opening its first branch as BB Avenue Branch in the capital. It was the visionary entrepreneurship of around 13 local businessmen who braved the immense uncertainties and risks with courage and zeal that made the establishment & forward march of the bank possible. Those sponsor directors commenced the journey with only Tk 3.4 crore worth of capital, which now is a respectable Tk 330.77 crore as capital & reserve. City Bank is among the very few local banks which do not follow the traditional, decentralized, geographically managed, branch-based business or profit model. Instead, the bank manages its business and operation vertically from the head office through 4 distinct business divisions namely:
Corporate & Investment Banking
Retail Banking (including Cards)
SME Banking &
Treasury & Market Risks
Under a real-time online banking platform, these 4 business divisions are supported at the back by a robust service delivery or operations setup and also a smart IT backbone. Such centralized business segment based business & operating model ensure specialized treatment and services to the bank’s different customer segments. The bank currently has 87 online branches and 10 SME service centers spread across the length & breadth of the country that include a full fledged Islami Banking branch. Besides these traditional delivery points, the bank is also very active in the alternative delivery area. It currently has 46 ATMs of its own; and ATM sharing arrangement with a partner bank that has more than 550 ATMs in place; SMS Banking; Interest Banking and so on. It already started its customer call center operation. The bank has a plan to end the current year with 100 own ATMs. City Bank is the first bank in Bangladesh to have issued Dual Currency Credit Card. The bank is a principal member of VISA international and it issues both Local Currency (Taka) & Foreign Currency (US Dollar) card limits in a single plastic. VISA Debit Card is another popular product which the bank is pushing hard in order to ease out the queues at the branch created by its astounding base of some 400,000 retail customers.
City Bank has launched American Express Credit Card and American Express Gold Credit card in November 2009. City Bank is the local caretaker of the brand and is responsible for all operations supporting the issuing of the new credit cards, including billing and accounting, customer service, credit management and charge authorizations, as well as marketing the cards in Bangladesh. Both cards are international cards and accepted by the millions of merchants operating on the American Express global merchant network in over 200 countries and territories including Bangladesh.
City Bank also introduced exclusive privileges for the card members under the American Express Selects program in Bangladesh. This will entitle any American Express card members to enjoy fantastic savings on retail and dining at some of the finest establishment in Bangladesh. It also provides incredible privileges all over the globe with more than 13,000 offers at over 10,000 merchants in 75 countries.
City Bank prides itself in offering a very personalized and friendly customer service. It has in place a customized service excellence model called CRP that focuses on ensuring happy customers through setting benchmarks for the bank’s employees’ attitude, behavior, readiness level, accuracy and timelines of service quality.
City Bank is one of the largest corporate banks in the country with a current business model that heavily encourages and supports the growth of the bank in Retail and SME Banking. The bank is very much on its way to opening many independent SME centers across the country within a short time. The bank is also very active in the workers’ foreign remittance business. It has strong tie-ups with major exchange companies in the Middle East, Europe, Far East & USA, from where thousands of individual remittances come to the country every month for disbursements through the bank’s large network of 97 online branches and SME service centers.
The current senior management leaders of the bank consist of mostly people from the multinational banks with superior management skills and knowledge in their respective ‘specialized’ areas. The newly launched logo and the pay-off line of the bank are just one initial step towards reaching that point.
K Mahmood Sattar is the Managing Director of the bank while Rubel Aziz led the board as Chairman.

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