Approves 17 pc stock div, 1:1 right share
Tuesday, 16 September 2008
FE Report
Social Investment Bank Ltd (SIBL) has been renamed as Social Islami Bank Ltd. The approval came at the 5th extraordinary general meeting (EGM) of the bank recently where allocation of 1:1 right shares was also approved.
After the EGM at Bashundhara City in the city, the 13th annual general meeting (AGM) of SIBL was held at the same venue. The AGM approved 17 per cent stock dividend for the financial year 2007.
SIBL Chairman Abdul Awal Patwary presided over the meetings.
SIBL Vice Chairmen Md Saidur Rahman and Nasir Uddin, directors Rezaul Haque, Kamaluddin Ahmed, Sultan Mahmud Chowdhury, Md Anisul Islam, Nargis Mannan, Md Rabban Ali, Md Humayun Kabir Khan, Managing Director KM Ashaduzzaman, Deputy Managing Director Abu Sadek Md Sohel, Company Secretary Mahamud Hassan, shareholders and other senior executives of the bank attended the meetings.
SIBIL Chairman Abdul Awal Patwary said that as a joint venture Shariah based bank, SIBL has defined its operation in three different sectors - formal, non-formal and voluntary. While formal sector deals in full-fledged commercial activities as a scheduled bank, non-formal sector aims at 'empowering family' by creating investment opportunities to micro and SME clients and voluntary sector deals in Cash Waqf Certificate Scheme - an innovative financial product to do welfare to the mankind.
The managing director gave vivid description of the achievements during the year 2007 and expressed confidence that the bank is moving towards the right direction with the cooperation of all.
Social Investment Bank Ltd (SIBL) has been renamed as Social Islami Bank Ltd. The approval came at the 5th extraordinary general meeting (EGM) of the bank recently where allocation of 1:1 right shares was also approved.
After the EGM at Bashundhara City in the city, the 13th annual general meeting (AGM) of SIBL was held at the same venue. The AGM approved 17 per cent stock dividend for the financial year 2007.
SIBL Chairman Abdul Awal Patwary presided over the meetings.
SIBL Vice Chairmen Md Saidur Rahman and Nasir Uddin, directors Rezaul Haque, Kamaluddin Ahmed, Sultan Mahmud Chowdhury, Md Anisul Islam, Nargis Mannan, Md Rabban Ali, Md Humayun Kabir Khan, Managing Director KM Ashaduzzaman, Deputy Managing Director Abu Sadek Md Sohel, Company Secretary Mahamud Hassan, shareholders and other senior executives of the bank attended the meetings.
SIBIL Chairman Abdul Awal Patwary said that as a joint venture Shariah based bank, SIBL has defined its operation in three different sectors - formal, non-formal and voluntary. While formal sector deals in full-fledged commercial activities as a scheduled bank, non-formal sector aims at 'empowering family' by creating investment opportunities to micro and SME clients and voluntary sector deals in Cash Waqf Certificate Scheme - an innovative financial product to do welfare to the mankind.
The managing director gave vivid description of the achievements during the year 2007 and expressed confidence that the bank is moving towards the right direction with the cooperation of all.