Global Islami Bank Limited

Global Islami Bank Limited started functioning as NRB Global Bank Limited on 5 August 2013 after getting final approval from Bangladesh Bank on 25 July 2013. The fourth generation bank however switched to its present name by launching full-fledged Shariah-based Islami banking operations with effect from January 2021. It is the brainchild of 25 reputed and visionary Non-Resident Bangladeshis (NRB) living in various countries of the world. Its head office was formally inaugurated on 9 September 2013 at Khandokar Tower, Gulshan Avenue, Gulshan-1, Dhaka-1212. However, the bank relocated its head office to Saiham Tower of Gulshan area on 6 May 2018. As of January 2021, the bank had 80 branches, 25 sub-branches, and 78 ATM booths.

The shares of Global Islami Bank Limited in the banking sectors’ total deposits and loans cum advances during 2019 were 0.6% and 0.8% respectively. The cumulative deposit status of the bank decreased by 0.02% during 2019 and stood at Taka 82,756 million, while cumulative loans and advances status marked a rise of 15.1% to stand at Taka 82,365.3 million at the end of the year. The average interest rate spread between deposits and loans was 3.9% during 2019.

The sector-based loans and advances status of Global Islami Bank Limited at the end of 2019 was as follows: (a) working capital financing 14.13%; (b) trade and commerce 59.76%; (c) industries 6.63%; (d) construction 3.17%; (e) agriculture, fisheries and forestry 1.01%; (f) power, gas and water supply 1.1%; (g) other loans 14.13%. Industrial loans and advances accounted for 85.7 per cent of the total during 2019. Remittances received by the bank during the year stood at Taka 845 million. The bank spent Taka 2.8 million during the year for discharging CSR (corporate social responsibility), which was Taka 97.1 million during 2018.

Global Islami Bank Limited has prepared an action plan in the light of Bangladesh Bank directives, Vision-2021 of the government, and the policies incorporated in the 7th Five Year Plan of Bangladesh. The bank has been taking appropriate measures for simplification of banking services in order to make those customer-friendly. [Helal Uddin Ahmed]

References Banking Almanac: Banks and Financial Institutions of Bangladesh 2016. Dhaka: Shikkha Bichitra, December 2016; Report on Financial Institutions 2018-2019. Dhaka: Financial Institutions Division, June 2020; Website of Global Islami Bank Limited.