Standard Bank to turn into full-fledged Islamic bank

The board of directors of Standard Bank has decided to amend relevant clauses for conversion into a full-fledged Islamic bank subject to approval from shareholders and related authorities, according to an official disclosure on Wednesday.

The amendment is subject to approval from shareholders, prior permission from Bangladesh Bank and High Court Division of the Supreme Court, the disclosure said.

The board of the bank has also recommended 5.0 per cent cash and 5.0 per cent stock dividend for the year ended on December 31, 2019.

The date of extraordinary general meeting (EGM) and annual general meeting (AGM) is on May 18 in the Police Convention Hall in Dhaka.

The record date for EGM & AGM is on April 26.

[email protected]