Islami Bank clarification
FE Report | Thursday, 3 March 2011
FE Report
Islami Bank Bangladesh Limited (IBBL) clarified a news item telecast in some electronic media and also published in different national dailies quoting State Minister for Home that "Islami Bank Bangladesh Limited spends its profit on militancy". "We like to make it categorically clear that IBBL never spent its profit for any illegal activity nor financed any individual or organization linked with propagating militancy. Besides, the Bank always spent its Zakat fund only for the shariah approved purposes", the clarification said. "While we deny any involvement of IBBL in extra banking transactions, we state that there exists no scope even for a Bank to spend money unlawfully that are always subject to regulatory, internal and external audit", the statement added.
Islami Bank Bangladesh Limited (IBBL) clarified a news item telecast in some electronic media and also published in different national dailies quoting State Minister for Home that "Islami Bank Bangladesh Limited spends its profit on militancy". "We like to make it categorically clear that IBBL never spent its profit for any illegal activity nor financed any individual or organization linked with propagating militancy. Besides, the Bank always spent its Zakat fund only for the shariah approved purposes", the clarification said. "While we deny any involvement of IBBL in extra banking transactions, we state that there exists no scope even for a Bank to spend money unlawfully that are always subject to regulatory, internal and external audit", the statement added.