First Security Islami Bank Limited: Difference between revisions

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'''First Security Islami Bank Limited'''  incorporated as a commercial bank on 29 August 1999 and received permission to conduct banking business from the [[Bangladesh Bank|bangladesh bank]] on 22 September 1999. It started banking operations on 25 October 1999 with an authorised capital of Tk 1 billion divided into 10 million ordinary shares of Tk 100 each. The paid up capital was Tk 400 million, of which the sponsor directors and the sponsor shareholders paid Tk 200 million. The rest are on offer to the general public.
'''First Security Islami Bank Limited'''  incorporated as a commercial bank on 29 August 1999 and received permission to conduct banking business from the Bangladesh Bank on 22 September 1999. It started banking operations on 25 October 1999 with an authorized capital of Tk 1 billion divided into 10 million ordinary shares of Tk 100 each. The paid-up capital was Tk 400 million, of which the sponsor directors and the sponsor shareholders paid Tk 200 million. The rest are on offer to the general public.  


The three innovative schemes introduced by the bank are the Monthly Savings Scheme, Monthly Benefit Savings Scheme and Advance Savings Scheme. The bank had no borrowings from other banks and financial institutions so far.
The three innovative schemes introduced by the bank are the Monthly Savings Scheme, Monthly Benefit Savings Scheme and Advance Savings Scheme. The bank had no borrowings from other banks and financial institutions so far.  
 
''Table''  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
|-
|-
| Authorised capital || 1000 || 1500 || 1500 || 3600 || 4600 || 4600
|Authorized Capital || 10000 || 10000 || 30000
|-
|-
| Paid up capital || 320 || 600 || 900 || 1000 || 2300 || 2300
|Paid up Capital || 7841 || 8625 || 9488
|-
|-
| Reserved Fund || 211 || 221 || 104 || 134 || 239 || 569
|Reserved Fund || 5417 || 6689 || 8406
|-
|-
| Deposits || 11232 || 14012 || 17592 || 23504 || 25855 || 42423
|Deposits || 320022 || 376622 || 428702
|-
|-
| (a) Demand Deposits || 906 || 763 || 848 || 1439 || 1423 || 2569
|a) Call Deposits || 15184 || 16940 || 19282
|-
|-
| (b) Term Deposits || 10326 || 13249 || 16744 || 22065 || 24432 || 39854
|b) Term Deposits || 304838 || 359682 || 409419
|-
|-
| Loans and Advance || 8500 || 10722 || 13646 || 18616 || 25095 || 38726
|Loans and Advance || 311685 || 364484 || 415093
|-
|-
| Investment || 1272 || 1662 || 2063 || 2498 || 1333 || 1931
|Investment || 15982 || 17528 || 23622
|-
|-
| Total Asset || 16169 || 20260 || 20449 || 26942 || 31,239 || 47979
|Total Asset || 371336 || 437179 || 496148
|-
|-
| Total income || 1815 || 2019 || 1921 || 2545 || 5858 || 8282
|Total Income || 11018 || 12208 || 13341
|-
|-
| Total Expenditure || 1431 || 1894 || 1718 || 2416 || 5668 || 7516
| Total Expenditure || 5702 || 6302 || 7211
|-
|-
| Foreign Currency Trading || 11098 || 9523 || 10162 || 18322 || 14238 || 20209
|Foreign Currency Trading || 115764 || 134580 || 70436
|-
|-
| a) Export || 3651 || 2856 || 2961 || 3648 || 4145 || 3549
|a) Export || 10338 || 12281 || 12412
|-
|-
| b) Import || 7414 || 6605 || 7153 || 14344 || 9287 || 16102
|b) Import || 92431 || 107386 || 43021
|-
|-
| c) Remittance || 33 || 62 || 48 || 330 || 806 || 558
|c) Remittance || 12995 || 14914 || 15003
|-
|-
| Total Manpower: || 467 || 423 || 415 || 514 || 623 || 995
|Total Manpower || 3898 || 4203 || 4419
|-
|-
| a) Officers || 337 || 313 || 318 || 408 || 483 || 775
|a) Officers || 3189 || 3447 || 3558
|-
|-
| b) Staff || 130 || 110 || 97 || 106 || 140 || 220
|b) Staff || 709 || 756 || 831
|-
|-
| Correspondent Banks || 253 || 260 || 262 || 245 || 235 || 240
|Correspondent Banks || 223 || 216 || 219
|-
|-
| Total Branches (in numbers) || 12 || 12 || 15 ||  20  ||  29 || 52
|Total Branches (in numbers) || 177 || 184 || 190
|-
|-
| a) Domestic || 12 || 12 || 15 || 20 || 29 || 52
|a) Domestic || 177 || 184 || 190
|-
|-
| Agriculture Credit:  ||   ||   ||   ||  ||  || 
|b) Overseas || 0 || 0 || 0
|-
|-
| a) Loan Disbursed || 93 || 168 || 108 || 160 || 164 || 224
|Agriculture Credit
|-
|-
| b) Realised || 5 || 2 || 10 || 5 || 10 || 14
|Loan Disbursed || 3411 || 4990 || 4829
|-
|-
| Industrial Credit: ||   ||   ||   ||  ||  || 
|Realised || 5112 || 5827 || 4460
|-
|-
| a) Loan Disbursed || 711 || 474 || 388 || 440 || 1286 || 2094
|Industrial Credit
|-
|-
| b) Realsied || 72 || 302 ||   16 || 20 || 26 || 72
|Loan Disbursed || 11885 || 19105 || 16218
|-
|-
| Loan Outstanding by Sector ||   ||   ||   ||  ||  || 
|Realsied || 11055 || 14737 || 14313
|-
|-
| a) Agriculture and Fisheries || 93 || 168 || 108 || 160 || 164 || 224
|Loan Outstanding by Sector
|-
|-
| b) Industry || 711 || 474 || 388 || 890 || 989 || 1452
|Agriculture and Fisheries and Forestry || 2557 || 1720 || 2089
|-
|-
| c) Trade and Commerce || 1756 || 4073 || 3352 || 5600 || 6940 || 22469
|Industry || 22630 || 26195 || 32942
|-
|-
| d) Poverty Reduction || 400 || 420 || 415 || 594 || 630 || 670
|Trade and Commerce || 179012 || 225806 || 240478
|-
|Poverty Reduction || 0 || 0 || 0
|-
|CSR || 340 || 174 || 590
|}
|}
''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 2008-09.


Most of its loans and advances were provided as house building loan, secured overdraft, staff loan and inland bills purchased. Investments of the bank other than loans and advances are in government [[Treasury Bills|treasury bill]]s and [[Prize Bond|prize bond]]s.
''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.
 
Most of its loans and advances were provided as house building loan, secured overdraft, staff loan and inland bills purchased. Investments of the bank other than loans and advances are in government treasury bills and prize bonds.
 
Since 1 January 2009, the bank introduced banking based on Sharia rather than conventional banking. The volume of foreign exchange business of the bank was confined in the area of export servicing, import financing and remittances. The bank has correspondent relationships with 219 foreign banks and other financial institutions.  


Since 1 January 2009, the bank introduced banking based on Sharia rather than conventional banking. The volume of foreign exchange business of the bank was confined in the area of export servicing, import financing and remittances. The bank has correspondent relationships with 240 foreign banks and other financial institutions.
The management of the bank is vested in a 13-member board of directors with the managing director as the chief executive. The bank has 119 branches and 4419 employees including the executive officer.  


The management of the bank is vested in a 19-member board of directors with the managing director as the chief executive. The bank has 53 branches and 995 employees including the executive officer. [Muhammad Abdul Mazid]
In 2019, bank deposits accounted for 3.0 per cent of total banking sector deposits and loans and advances accounted for 3.3 per cent of total banking sector loans and advances. The average interest rate differential between June 2019 based deposits and loans and advances was 3.1 percent. [Muhammad Abdul Mazid]  


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


[[bn:ফার্স্ট সিকিউরিটি ইসলামী ব্যাংক লিমিটেড]]
[[bn:ফার্স্ট সিকিউরিটি ইসলামী ব্যাংক লিমিটেড]]

Latest revision as of 20:31, 13 October 2023

First Security Islami Bank Limited incorporated as a commercial bank on 29 August 1999 and received permission to conduct banking business from the Bangladesh Bank on 22 September 1999. It started banking operations on 25 October 1999 with an authorized capital of Tk 1 billion divided into 10 million ordinary shares of Tk 100 each. The paid-up capital was Tk 400 million, of which the sponsor directors and the sponsor shareholders paid Tk 200 million. The rest are on offer to the general public.

The three innovative schemes introduced by the bank are the Monthly Savings Scheme, Monthly Benefit Savings Scheme and Advance Savings Scheme. The bank had no borrowings from other banks and financial institutions so far.

Basic Facts and Economic Indicators (In Million Taka)

Indicators 2018 2019 2020
Authorized Capital 10000 10000 30000
Paid up Capital 7841 8625 9488
Reserved Fund 5417 6689 8406
Deposits 320022 376622 428702
a) Call Deposits 15184 16940 19282
b) Term Deposits 304838 359682 409419
Loans and Advance 311685 364484 415093
Investment 15982 17528 23622
Total Asset 371336 437179 496148
Total Income 11018 12208 13341
Total Expenditure 5702 6302 7211
Foreign Currency Trading 115764 134580 70436
a) Export 10338 12281 12412
b) Import 92431 107386 43021
c) Remittance 12995 14914 15003
Total Manpower 3898 4203 4419
a) Officers 3189 3447 3558
b) Staff 709 756 831
Correspondent Banks 223 216 219
Total Branches (in numbers) 177 184 190
a) Domestic 177 184 190
b) Overseas 0 0 0
Agriculture Credit
Loan Disbursed 3411 4990 4829
Realised 5112 5827 4460
Industrial Credit
Loan Disbursed 11885 19105 16218
Realsied 11055 14737 14313
Loan Outstanding by Sector
Agriculture and Fisheries and Forestry 2557 1720 2089
Industry 22630 26195 32942
Trade and Commerce 179012 225806 240478
Poverty Reduction 0 0 0
CSR 340 174 590

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.

Most of its loans and advances were provided as house building loan, secured overdraft, staff loan and inland bills purchased. Investments of the bank other than loans and advances are in government treasury bills and prize bonds.

Since 1 January 2009, the bank introduced banking based on Sharia rather than conventional banking. The volume of foreign exchange business of the bank was confined in the area of export servicing, import financing and remittances. The bank has correspondent relationships with 219 foreign banks and other financial institutions.

The management of the bank is vested in a 13-member board of directors with the managing director as the chief executive. The bank has 119 branches and 4419 employees including the executive officer.

In 2019, bank deposits accounted for 3.0 per cent of total banking sector deposits and loans and advances accounted for 3.3 per cent of total banking sector loans and advances. The average interest rate differential between June 2019 based deposits and loans and advances was 3.1 percent. [Muhammad Abdul Mazid]

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