Social Islami Bank Limited: Difference between revisions

VisualWikitext
(Content Updated.)
 
No edit summary
 
Line 1: Line 1:
'''Social Islami Bank Limited''' (SIBL) an interest free shariah-based islami bank in Bangladesh. It commenced banking activities on 22 November 1995 under the Companies Act 1994. The founding initiators of the bank were Dr Hamid Ali (former general secretary of OIC), Dr Omar Nasif (former general secretary of RABETA and deputy speaker of Saudi Arabia), Saleh Jamjum (former Commerce Minister of Saudi Arabia), Islami International Fund (IIF) and International Islami Relief Foundation (IIRO).
'''Social Islami Bank Limited''' (SIBL) an interest free shariah-based islami bank in Bangladesh. It commenced banking activities on 22 November 1995 under the Companies Act 1994. The founding initiators of the bank were Dr Hamid Ali (former general secretary of OIC), Dr Omar Nasif (former general secretary of RABETA and deputy speaker of Saudi Arabia), Saleh Jamjum (former Commerce Minister of Saudi Arabia), Islami International Fund (IIF) and International Islami Relief Foundation (IIRO).  
 
Basic Facts and Economic Indicators (In Million Taka)


Basic facts and economic indicators (in million Taka).
{| class="table table-bordered table-hover"
{| class="table table-bordered table-hover"
|-
|-
| Indicators || 2004 || 2005 || 2006 || 2007 || 2008 || 2009
| Indicators || 2018 || 2019 || 2020
|-
|Authorized Capital || 10000 || 10000 || 30000
|-
|-
| Authorised capital || 1000 || 4000 || 4000 || 4000 || 4000 || 4000
|Paid up Capital || 8121 || 8933 || 9380
|-
|-
| Paid up capital || 585 || 585 || 585 || 585 || 1119 || 2692
|Reserved Fund || 8155 || 9388 || 8985
|-
|-
| Reserved Fund || 331 || 338 || 396 || 992 || 659 || 841
|Deposits || 248314 || 288066 || 322385
|-
|-
| Deposits || 19704 || 16862 || 16171 || 18176 || 22688 || 31588
|a) Call Deposits || 24984 || 43368 || 32278
|-
|-
| (a) Call Deposits || 1967 || 2177 || 2077 || 4060 || 4814 || 7178
|b) Term Deposits || 223331 || 244698 || 290107
|-
|-
| (b) Term Deposits || 17737 || 14685 || 14094 || 14116 || 17874 || 24411
|Loans and Advances || 238654 || 264269 || 300618
|-
|-
| Loans and Advance || 12888 || 15097 || 15313 || 15869 || 18725 || 24938
|Investment || 13087 || 19119 || 18487
|-
|-
| Investment || .062 || 501 || 501 || 501 || 922 || 1311
|Total Asset || 307305 || 345056 || 384957
|-
|-
| Total Asset || 21547 || 20359 || 19692 || 21920 || 29262 || 39979
|Total Income  || 27776 || 30711 || 29850
|-
|-
| Total income  || 3273 || 1922 || 2229 || 1194 || 1611 || 3817
| Total Expenditure || 21972 || 24369 || 25507
|-
|-
| Total Expenditure || 2858 || 1709 || 1933 || 972 || 1190 || 2715
|Foreign Currency Trading || 178580 || 159582 || 141287
|-
|-
| Foreign Currency Trading || 18088 || 17438 || 23280 || 26373 || 27024 || 34888
|a) Export || 63060 || 60079 || 51145
|-
|-
| a) Export || 4500 || 5528 || 10714 || 11741 || 8696 || 13964
|b) Import || 93000 || 88911 || 76967
|-
|-
| b) Import || 13363 || 11577 || 11791 || 13977 || 17286 || 18287
|c) Remittance || 22520 || 10592 || 13176
|-
|-
| c) Remittance || 225 || 333 || 775 || 655 || 1042 || 2637
|Total manpower || 2843 || 2958 || 3100
|-
|-
| Total Manpower: || 651 || 686 || 674 || 669 || 694 || 965
|a) Officers || 2615 || 2737 || 2875
|-
|-
| a) Officers || 581 || 615 || 602 || 597 || 618 || 882
|b) Staff || 228 || 221 || 225
|-
|-
| b) Staff || 70 || 71 || 72 || 72 || 76 || 83
|Correspondent Banks || 389 || 385 || 395
|-
|-
| Correspondents Banks || 3575 || 3575 || 2366 || 2480 || 2200 || 1800
|Total Branches (in numbers) || 155 || 161 || 168
|-
|-
| Total Branches (in numbers) || 24 || 24 || 24 || 24 || 28 || 42
|a) Domestic || 155 || 161 || 168
|-
|-
| a) Domestic || 24 || 24 || 24 || 24 || 28 || 42
|b) Overseas || 0 || 0 || 0
|-
|-
| b) Overseas || - || - || - || - || - || -
|Agriculture Credit || || ||  
|-
|-
| Agriculture Credit ||   ||   ||   ||  ||  || 
|Loan Disbursed || 4638 || 3998 || 2890
|-
|-
| Loan Disbursed || 1518 || 1518 || - || 273 || 777 || 913
|Realised || 4878 || 4105 || 2973
|-
|-
| Realised || 1253 || 1253 || - || 99 || 292 || 376
|Industrial Credit || || ||  
|-
|-
| Industrial Credit ||   ||   ||   ||  ||  || 
|Loan Disbursed || 99195 || 81961 || 68251
|-
|-
| Loan Disbursed || 48790 || 48790 || 1334 || 1132 || 10149 || 14790
|Realsied || 104077 || 78085 || 60603
|-
|-
| Realsied || 26702 || 26702 || 1177 || 906 || 4027 || 5424
|Loan Outstanding by Sector || || ||  
|-
|-
| Loan Outstanding by Sector ||   ||   ||   ||  ||  || 
|Agriculture and Fisheries and Forestry || 2280 || 2277 || 2386
|-
|-
| Agriculture and Fisheries || 67 || 135 || 366 || 466 || 543 || 518
|Industry || 49963 || 61891 || 73397
|-
|-
| Industry || 627 || 1940 || 1591 || 1751 || 2168 || 4220
|Trade and Commerce || 78146 || 91229 || 101933
|-
|-
| Trade and Commerce || 8129 || 7925 || 7945 || 7874 || 9778 || 11985
|Poverty Reduction || 81 || 258 || 485
|-
|-
| Poverty Reduction || 52 || 117 || 1453 || 231 || 280 || 305
|CSR || 155 || 297 || 271.8
|}
|}


''Source''  Government of Bangladesh, Ministry of Finance, Banking and Financial Institution Division, ''Bank o Arthik Prothisthan Samuher Karjaboli'' [Annual Report on Banks and Financial Institutions], 2004-05 to 2009-10.
''Source''  Government of Bangladesh, Ministry of Finance, Banking and Financial Institution Division, ''Barshik Protibedon'' [Annual Report on Banks and Financial Institutions], 2019-20 and 2020-21.


A 27-member board of directors headed by a chairman approves business policy, supervise administration and management of the bank. There is a 5-member Shariah Council of the bank to ensure the compliance of Islamic rules in its activities. Besides a foreign honorary international advisor council is consist of 13 members provides direction and adviser the bank on international banking business affairs.
A 13-member board of directors headed by a chairman approves business policy, supervise administration and management of the bank. There is a 5-member Shariah Council of the bank to ensure the compliance of Islamic rules in its activities. Besides a foreign honorary international advisory council is consist of 13 members provides direction and adviser the bank on international banking business affairs.  


From its inception, the bank is operating its function in three sectors - formal, non-formal and voluntary. In the formal corporate sector, the bank offers banking services through deposit and investment accounts, trade financing, collection of bills, money transfers, lease of equipment and consumers' durable, investment in low-cost housing and real estate management, and financing projects in agriculture, transport, education and health sectors. In the non-formal corporate sector, the bank has been offering [[Microcredit|microcredit]] and SME loan with easy condition. Such programmes play a significant role to achieve Millennium Development Goals (MDGs) of the United Nations and [[Poverty Reduction Strategy Papers|poverty reduction strategy paper]] (PRSP) of the government. Under the ILO project since 2001 the bank is operating two programmes with the assistance of Italy and Norway government and for improving the [[Child Labour|child labour]], the bank and UNICEF jointly conducting micro investment programme from 2003. With the associate of USAID-JOBS the bank provides investment support in the pineapple farming and marketing project for the socio-economic development of pineapple farmers in Madhupur.
From its inception, the bank is operating its function in three sectors - formal, non-formal and voluntary. In the formal corporate sector, the bank offers banking services through deposit and investment accounts, trade financing, collection of bills, money transfers, lease of equipment and consumers' durable, investment in low-cost housing and real estate management, and financing projects in agriculture, transport, education and health sectors. In the non-formal corporate sector, the bank has been offering microand SME loan with easy condition. Such programmes play a significant role to achieve Millennium Development Goals (MDGs) of the United Nations and poverty reduction strategy paper (PRSP) of the government. Under the ILO project since 2001 the bank is operating two programmes with the assistance of Italy and Norway government and for improving the child labour, the bank and UNICEF jointly conducting micro investment programme from 2003. With the associate of USAID-JOBS the bank provides investment support in the pineapple farming and marketing project for the socio-economic development of pineapple farmers in Madhupur.  


In the voluntary sector, Social Islami Bank starts 'Cash Waqf Certificate' scheme as the process to form the social capital. The capital of cash waqf has been deposited permanently in the bank. Only the profit of that amount consumes in different social welfare activities like family rehabilitation, education, health, and social utilities on the basis of Islamic sharia. Moreover, the bank helps paralysed people through CRP, provides spectacles and removed the cataract of poor people by a surgical operation through sight savers, established a child-friendly ward in the Bangladesh National Blind Welfare Samity Hospital, provide treatment of eye-damaged poor people through Fashion Eye Hospital and provide scholarship, books, shoes, school bag to the poor but meritorious students of different schools. Provide financial aid to the voluntary institutions, different social welfare institutions engaged with handicapped people, Bangladesh Cancer Foundation Hospital and Kidney Foundation.
In the voluntary sector, Social Islami Bank starts 'Cash Waqf Certificate' scheme as the process to form the social capital. The capital of cash waqf has been deposited permanently in the bank. Only the profit of that amount consumes in different social welfare activities like family rehabilitation, education, health, and social utilities on the basis of Islamic sharia. Moreover, the bank helps paralysed people through CRP, provides spectacles and removed the cataract of poor people by a surgical operation through sight savers, established a child-friendly ward in the Bangladesh National Blind Welfare Samity Hospital, provide treatment of eye-damaged poor people through Fashion Eye Hospital and provide scholarship, books, shoes, school bag to the poor but meritorious students of different schools. Provide financial aid to the voluntary institutions, different social welfare institutions engaged with handicapped people, Bangladesh Cancer Foundation Hospital and Kidney Foundation.  


As a part of modern banking system, it provides online banking services with other islami banks through first banking institution, SIBL makes a bridge between non-formal and formal sectors through offering investment facilities doing the upgradation of SME entrepreneurs. [Muhammad Abdul Mazid]
As a part of modern banking system, it provides online banking services with other Islami banks through first banking institution, SIBL makes a bridge between non-formal and formal sectors through offering investment facilities doing the upgradation of SME entrepreneurs.
In 2019, bank deposits accounted for 1.6 per cent of total banking sector deposits and loans and advances accounted for1.8 per cent of total banking sector loans and advances. The average interest rate differential between June 2019 based deposits and loans and advances was 4.2 percent.  [Muhammad Abdul Mazid]


[[Category:Financial Institutes]]
[[Category:Financial Institutes]]


[[bn:সোস্যাল ইসলামী ব্যাংক লিমিটেড]]
[[bn:সোস্যাল ইসলামী ব্যাংক লিমিটেড]]

Latest revision as of 20:32, 13 October 2023

Social Islami Bank Limited (SIBL) an interest free shariah-based islami bank in Bangladesh. It commenced banking activities on 22 November 1995 under the Companies Act 1994. The founding initiators of the bank were Dr Hamid Ali (former general secretary of OIC), Dr Omar Nasif (former general secretary of RABETA and deputy speaker of Saudi Arabia), Saleh Jamjum (former Commerce Minister of Saudi Arabia), Islami International Fund (IIF) and International Islami Relief Foundation (IIRO).

Basic Facts and Economic Indicators (In Million Taka)

Indicators 2018 2019 2020
Authorized Capital 10000 10000 30000
Paid up Capital 8121 8933 9380
Reserved Fund 8155 9388 8985
Deposits 248314 288066 322385
a) Call Deposits 24984 43368 32278
b) Term Deposits 223331 244698 290107
Loans and Advances 238654 264269 300618
Investment 13087 19119 18487
Total Asset 307305 345056 384957
Total Income 27776 30711 29850
Total Expenditure 21972 24369 25507
Foreign Currency Trading 178580 159582 141287
a) Export 63060 60079 51145
b) Import 93000 88911 76967
c) Remittance 22520 10592 13176
Total manpower 2843 2958 3100
a) Officers 2615 2737 2875
b) Staff 228 221 225
Correspondent Banks 389 385 395
Total Branches (in numbers) 155 161 168
a) Domestic 155 161 168
b) Overseas 0 0 0
Agriculture Credit
Loan Disbursed 4638 3998 2890
Realised 4878 4105 2973
Industrial Credit
Loan Disbursed 99195 81961 68251
Realsied 104077 78085 60603
Loan Outstanding by Sector
Agriculture and Fisheries and Forestry 2280 2277 2386
Industry 49963 61891 73397
Trade and Commerce 78146 91229 101933
Poverty Reduction 81 258 485
CSR 155 297 271.8

Source Government of Bangladesh, Ministry of Finance, Banking and Financial Institution Division, Barshik Protibedon [Annual Report on Banks and Financial Institutions], 2019-20 and 2020-21.

A 13-member board of directors headed by a chairman approves business policy, supervise administration and management of the bank. There is a 5-member Shariah Council of the bank to ensure the compliance of Islamic rules in its activities. Besides a foreign honorary international advisory council is consist of 13 members provides direction and adviser the bank on international banking business affairs.

From its inception, the bank is operating its function in three sectors - formal, non-formal and voluntary. In the formal corporate sector, the bank offers banking services through deposit and investment accounts, trade financing, collection of bills, money transfers, lease of equipment and consumers' durable, investment in low-cost housing and real estate management, and financing projects in agriculture, transport, education and health sectors. In the non-formal corporate sector, the bank has been offering microand SME loan with easy condition. Such programmes play a significant role to achieve Millennium Development Goals (MDGs) of the United Nations and poverty reduction strategy paper (PRSP) of the government. Under the ILO project since 2001 the bank is operating two programmes with the assistance of Italy and Norway government and for improving the child labour, the bank and UNICEF jointly conducting micro investment programme from 2003. With the associate of USAID-JOBS the bank provides investment support in the pineapple farming and marketing project for the socio-economic development of pineapple farmers in Madhupur.

In the voluntary sector, Social Islami Bank starts 'Cash Waqf Certificate' scheme as the process to form the social capital. The capital of cash waqf has been deposited permanently in the bank. Only the profit of that amount consumes in different social welfare activities like family rehabilitation, education, health, and social utilities on the basis of Islamic sharia. Moreover, the bank helps paralysed people through CRP, provides spectacles and removed the cataract of poor people by a surgical operation through sight savers, established a child-friendly ward in the Bangladesh National Blind Welfare Samity Hospital, provide treatment of eye-damaged poor people through Fashion Eye Hospital and provide scholarship, books, shoes, school bag to the poor but meritorious students of different schools. Provide financial aid to the voluntary institutions, different social welfare institutions engaged with handicapped people, Bangladesh Cancer Foundation Hospital and Kidney Foundation.

As a part of modern banking system, it provides online banking services with other Islami banks through first banking institution, SIBL makes a bridge between non-formal and formal sectors through offering investment facilities doing the upgradation of SME entrepreneurs. In 2019, bank deposits accounted for 1.6 per cent of total banking sector deposits and loans and advances accounted for1.8 per cent of total banking sector loans and advances. The average interest rate differential between June 2019 based deposits and loans and advances was 4.2 percent. [Muhammad Abdul Mazid]

Retrieved from "http://en.banglapedia.org/index.php?title=Social_Islami_Bank_Limited&oldid=14454"