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Islami Bank first PCB to reach Tk 1.0 trillion deposit mark

| Updated: July 01, 2020 19:55:55


Islami Bank reaches Tk 1.0 trillion deposit milestone

Islami Bank Bangladesh Limited (IBBL) reached the deposit milestone of Tk 1.0 trillion on Tuesday -- for the first time in the private banking sector of Bangladesh -- despite the ongoing Covid-19 pandemic.

The aggregate deposit of the Shariah-based leading private commercial bank (PCB) grew by 5.70 per cent or Tk 53.95 billion to Tk 1000.24 billion in the first half (H1) of the current calendar year (2020) from Tk 946.29 billion six month ago, according to the bank’s latest statistics.

The deposit of IBBL was Tk 822.57 billion in December, 2018.

The IBBL has been able to mobilise the low-cost deposit through introducing 28 products including different types of Mudaraba deposits and Cost Free ones.

“We’ve so far introduced 28 multidimensional products to attract more people to deposit their hard-earned money with the Shariah-based bank,” a senior IBBL official told the FE on Wednesday.

Besides, agent banking operation has also contributed to achieve the new record of deposit of the IBBL, according to the private banker.

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