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IBBL\\\'s foreign sponsors eager to buy more bank shares

FE Report | June 02, 2014 00:00:00


Foreign sponsors of the Islami Bank Bangladesh Ltd (IBBL) have expressed their eagerness to purchase more shares of the bank and expand their business relationship with Bangladesh.

They were speaking at the 31st Annual General Meeting (AGM) of the bank in the city Saturday.

Yousif Abdullah Al-Rajhi (Saudi Arabia), vice chairman of IBBL, said that the bank has been playing a vital role in developing the Bangladesh economy and upgrading the people's living standard here.

Thanks to the IBBL's strong base and transparency in its activities their investment in the Islami Bank is the best one among their all investments made in other countries of the world, he said.

Mr Al-Rajhi expressed keenness to expand their business relationship with Bangladesh through buying more shares of the IBBL.

He further said that quality of the bank's operation is of international standard though it is operated locally.

Mohammed Abdullah Al Jalahma, another foreign sponsor and director of the bank, said that the IBBL is continuing its success locally in cooperation with the bank's management, executives, officials and depositors amid the world's economic instability and hostile business environment.

Dispelling the rumour of selling IBBL shares by foreign sponsors, Mr Al Jalahma, on behalf of four sponsor organisations of Kuwait-- Kuwait Finance House, Kuwait Awqaf Public Foundation, Public Institution for Social Security, Kuwait, and Public Authority for Minors Affairs, Kuwait -- firmly announced their eagerness to purchase more shares, if they get such opportunity.

Dr Areef Suleman, Islamic Development Bank (IDB) representative, termed its finance in the Islami Bank the best and "pride investment" among its other investments made in the IDB's all member countries.

IDB is successfully implementing various projects for devastated people in the country in cooperation with Islami Bank. Besides, the bank has been playing pioneering role in expanding Islami banking across the world which is really creditworthy, Mr Suleman said.


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