Islami Bank Bangladesh PLC, one of the top banks in the country for collecting remittances through legal channels for one and a half decades. Banking sector stakeholders said this is a breakthrough example of the banking sector. Islami Bank collected 26.67 percent of the remittances collected across the country in the last year by providing uninterrupted banking services through more than 6,000 units including branches, sub-branches, and agent banking. About 8.5 million people have also been employed through investment. The bank financed 36 percent of the country's readymade garment sector, 60 percent of the textile sector and more than 2,000 agro-based industries.
Not only that, Islami Bank has also developed 40 lakh small and medium entrepreneurs in the country. Through the Rural Development Project, the bank has so far invested Tk. 48,000 crore among about 1.7 million marginal families in 33,000 villages of the country, of which 92 percent are women. In its 41-year journey, the deposits in this bank, which are always moving forward with the trust and love of the people, are the safest and investment is also open for the need-oriented sector. The concerned people hope that Islami Bank will make the highest contribution to the socio-economic development of the country in the coming days.
Islami Bank officials said that the banks of the country are now focusing on smart transactions to build a smart Bangladesh. Islami Bank is also playing an important role in this regard. Digital Banking Products and Services have already been introduced. Besides, the bank is also ahead in implementing the government's cashless plan. Islami Bank will also increase digital services to build a smart economy. To implement the smart economy, payment will be conducted through technology like deposit automation, blockchain, artificial intelligence, big data analysis, cloud computing, Internet of Things and many others in phases.
According to sources, Islami Bank has achieved enviable success in the long journey of 41 years of its establishment. That success is also internationally acclaimed. Along with Bangladesh Bank, the Board of Directors has been giving regular guidance to complete the overall activities of this bank smoothly through the successful implementation of which the progress of the organization continues.
In addition to working relentlessly to implement the smart economy as part of building a smart Bangladesh, the bank is also continuing its efforts to continue the trend of progress by following the principles of Shariah in other activities, following the integrity guidelines directed by the central bank, increasing the skills of manpower and providing better services and further consolidating the position of Islami Bank in the international arena.
In addition to remittances, the bank's success in import, export, deposit growth, and investment is skyrocketing. It is the largest private commercial bank; in December 2023, it had deposits of Tk 153,430 crore and investments of Tk 1,50,472 crore. Islami Bank also makes a huge contribution to imports and exports. As of December 2023, imports were Tk 57,341 crore and exports were Tk 33,806 crore.
The Islamic banking system is also playing a special role in national development. As such, the role of Islami Bank in the economy of Bangladesh is huge. Islami Bank is contributing to large industries, CMSMEs, cottage, micro, small and medium investment, as well as construction sector, service industry, consumer investment, agriculture sector, fisheries sectors. The bank is also continuously contributing to the country's economy through its Corporate Social Responsibility (CSR) activities.
AE
