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Shahjalal Islami Bank Limited


Shahjalal Islami Bank Limited a private proprietorship commercial bank. It commenced banking operation in accordance with principle of Islamic shariah on 10 May 2001 under the Bank Companies Act, 1991. The bank invests in different sectors and the earning profit distributes the depositors through Islamic shariah.

Shahjalal Islami Bank takes few projects inclu Money increasing two/three times project, Monthly earning projects, Monthly deposit project, Hajj deposit project, Millionaire project, Housing deposit project, Cash Waqf deposit project, Lakhapati deposit project, Mahr deposit project, Education deposit project, Marriage deposit project, Buy house-furniture through installment project, Small trader investment programme, Small entrepreneur investment programme, Medium entrepreneur investment programme, Housing investment project, Rural investment programme, Buying car investment project, Women entrepreneur investment project, CNG conversion project, Foreign employment investment project, Marriage investment project, Study investment project and executive investment project.

Basic facts and economic indicators (in million Taka).

Indicators 2004 2005 2006 2007 2008 2009
Authorised capital 2000 2000 2000 2000 4000 4000
Paid up capital 467 936 936 1872 2246 2740
Reserved Fund 266 217 427 1169 261823 2690
Deposits 9091 12205 18091 22618 36484 47459
(a) Call Deposits 864 1211 1628 2124 3252 6512
(b) Term Deposits 8227 10994 16463 20494 33232 40947
Loans and Advance 7149 10590 15515 24617 32919 43958
Investment 7149 200 500 859 1144 3483
Total Asset 9746 14443 21342 28347 45217 58920
Total income 841 1621 2570 3589 5285 7117
Total Expenditure 767 1119 1725 2274 3475 5076
Foreign Currency Trading 15427 20099 33501 44869 78396 79450
a) Export 4239 6295 11282 15084 26347 29434
b) Import 10017 13114 18684 25490 42551 39543
c) Remittance 1171 690 3535 4295 9498 10473
Total Manpower 283 340 377 555 878 1299
a) Officers 232 284 312 428 643 955
b) Staff 51 56 65 127 235 344
Correspondents Banks - 23 23 24 29 30
Total Branches (in numbers) 12 16 21 26 33 51
a) Domestic 12 16 21 26 33 51
b) Overseas - - - - - -
Agriculture Credit
Loan Disbursed 105 102 123 109 113 100
Realised 54 75 68 57 39 126
Industrial Credit:
Loan Disbursed 1331 2836 3270 3282 7746 8395
Realsied 491 1628 1972 2510 2352 3999
Loan Outstanding by Sector
Agriculture and Fisheries 136 193 254 262 365 399
Industry 848 1318 2083 2848 3730 5719
Trade and Commerce 2414 3279 4647 6748 8042 11015
Poverty Reduction - - - 332 472 208

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.

Shahjalal Islami Bank provides financial aid through rural branch establishing agro-based industry and to produce agrarian crops under the rural investment programme. The bank also plays an important role to improve lifestyle creating new field of income and generating employment opportunities through investment in industrial sectors.

As a part of social liabilities, Shahjalal Islami Bank provides free treatment of insolvent and needy people, distributes eatable materials in poverty-stricken region, endows financial aid to the poor but meritorious students and contributes in various public welfare works. In order to perform such activities the bank found 'Shahjalal Islami Bank Foundation'. A deal has been signed up with Western Union for reaching migrated labour's money to their relatives with swiftly and in short time.

Presently, the bank is functioning with an offshore banking unit, 6 SME branches, 14 ATM booths and 63 branches. By the end of March 2011, the Authorised capital and Paid up capital rose to 6000 and 3425.12 million taka respectively.

The bank is run by a directory board. The board consists of one chairman, 2 vice chairman, 15 directors, 3 substitute directors, one sponsor and one company secretary. The shariah board is comprised of one chairman, 7 members and one member-secretary. All decisions related shariah is vested to the board. [Md Ashik Iqbal]