Islami Bank is the biggest and highest performing institutions in Bangladesh. It is also one of the most profitable organizations of the country and can be compared to the magnitude of Pakistan’s AlliedBank and Vietnam’s Asia Commercial Bank. In approximately every five years it has multiplied its growth almost three times and has commenced its commercialization since 1983. It comprises of 10.7 million customers out of whereas Bangladeshi fund transfers account for 27% and 23% belongs to the remittances of Small and Medium Enterprises market. Its Wealth Assessment stands at $9.3 billion.
One of the best strategies of Islami Bank was to enter the market of company manufactured clothes and fund transfers from workers abroad. Since Bangladesh had a massive number of migrant families surviving, the market of international remittances is quite high.
It not only provided a source of income as it is a labor concentrated nation but also helped a huge number of immigrant workers transfer funds to their homes. It has also given women entrepreneurs successful opportunities.
Recently Islami Bank was apparently alleged of helping and assisting terrorist activities by financing such groups. Although proving the claims wrong, Mohammad Abdul Mannan, who is also the MD and CEO has clearly shut the mouths of media by quoting that the regulating authorities did never claim such negative allegations regarding Islami Bank and was never involved in any financing to terrorists. He also said that Islami Bank is one of the most compliance obedient Bank of the nation, as stated by the Central Bank. He agreed that there had been many negative allegations that had come up from time to time but clearly negated any relations to such activities.
Despite the false claims and alarms, Islami Bank is successfully crossing the benchmarks of success and will continue to lead Bangladesh towards a much brighter future.
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