Shahjalal Bank unveils Tk 8.0b investment plan
Monday, 9 July 2007
FE Report
Shahjalal Islami Bank Limited has unveiled a fresh investment plan involving Tk 8.0 billion (800 crore) for the fiscal year of 2007-08.
Managing Director of the bank M Kamaluddin Chowdhury disclosed this in the 'Annual Business Plan-2007 Conference' of the bank held in a city hotel Saturday.
Chowdhury said the bank's overall deposits whopped to Taka 20.43 billion in June, 2007 and about Taka 16.52 billion has been invested in different sectors during the same period.
He said, Shahjalal Islami Bank has been contributing to the national economy through financing in the industrialisation process of the country in tandem with the gradual expansion of the overall business of the country. He stressed the need for cost-free deposits and increase of non-funded income.
In line with this perspective, the bank has taken an initiative to invest Taka 8.0 billion in the current fiscal year.
The areas under productive and environment-friendly labour-intensive small and medium enterprises (SMEs) and large units and service sector, general trading, project investment and agriculture sector will be included in the investment programme.
The managing director said he was optimistic that the new investment areas would play a vital role in creating adequate employment opportunities, income generation and poverty alleviation.
The investment under 'Rural Investment Programme' will cover crop production and purchase of agriculture equipment through selected branches to develop the rural economy. He said Shahjalal Islami Bank will boost its investment in the 'housing investment scheme' this year.
Chowdhury said the demand and popularity of Islamic Banking have increased globally due to transparency, justice, financing on the basis of profit-sharing, philanthropic activities and major contribution to socio-economic development.
Deputy Managing Director Mohammed Ali presented an overview of the bank highlighting the progress of the new generation bank achieved so far.
Among others, divisional heads, branch managers and operation managers of the bank were present in the conference.
Shahjalal Islami Bank Limited has unveiled a fresh investment plan involving Tk 8.0 billion (800 crore) for the fiscal year of 2007-08.
Managing Director of the bank M Kamaluddin Chowdhury disclosed this in the 'Annual Business Plan-2007 Conference' of the bank held in a city hotel Saturday.
Chowdhury said the bank's overall deposits whopped to Taka 20.43 billion in June, 2007 and about Taka 16.52 billion has been invested in different sectors during the same period.
He said, Shahjalal Islami Bank has been contributing to the national economy through financing in the industrialisation process of the country in tandem with the gradual expansion of the overall business of the country. He stressed the need for cost-free deposits and increase of non-funded income.
In line with this perspective, the bank has taken an initiative to invest Taka 8.0 billion in the current fiscal year.
The areas under productive and environment-friendly labour-intensive small and medium enterprises (SMEs) and large units and service sector, general trading, project investment and agriculture sector will be included in the investment programme.
The managing director said he was optimistic that the new investment areas would play a vital role in creating adequate employment opportunities, income generation and poverty alleviation.
The investment under 'Rural Investment Programme' will cover crop production and purchase of agriculture equipment through selected branches to develop the rural economy. He said Shahjalal Islami Bank will boost its investment in the 'housing investment scheme' this year.
Chowdhury said the demand and popularity of Islamic Banking have increased globally due to transparency, justice, financing on the basis of profit-sharing, philanthropic activities and major contribution to socio-economic development.
Deputy Managing Director Mohammed Ali presented an overview of the bank highlighting the progress of the new generation bank achieved so far.
Among others, divisional heads, branch managers and operation managers of the bank were present in the conference.