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The Bank was founded as NRB Global Bank on 25 July 2013 targeting not resident Bangladeshis. [6] Bangladesh Bank provided licenses to nine banks including NRB Global Bank in 2013 on the condition that the bank will eventually list on the stock market. [7] On 14 August 2013, Md Abdul Quddus was appointed managing director of NRB Global Bank. [8]
Islami Bank PLC (IBBPLC) (Bengali: ইসলামী ব্যাংক পিএলসি), more commonly known as Islami Bank, is an Islamic banking company based in Bangladesh. It became incorporated on 13 March 1983 as a public limited company under the Companies Act 1913 and started operation on 30 March, the same year. [ 8 ]
It has 133 branches. [1] The bank is a licensee to issue Visa and MasterCard Debit and Credit Cards and it is the sole licensee of American Express Cards in Bangladesh. [4] The bank is a real-time online bank, having its branches, SME/Agri branches spread across Bangladesh along with a full-fledged Islami Banking branch.
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The Bank sponsored the National School Hockey Tournament. [7] The Bank saw profits decline in 2018 along with other listed banks on the Dhaka Stock Exchange. [8] In September 2021, First Security Islami Bank Limited issued shares to raise its paid up capital. [9] It declared a 10 per cent dividend that year. [10]
Migrants Bangladeshis were demanding such type of bank since 1990s. However, Md. Bayazid Sarker an economist and Central Bank official of Bangladesh first develop a theoretical structure of the bank and officially floated the idea in his research paper titled "Alternative Resource of World Bank for External Financing in Bangladesh: A Foreign Remittance Approach" on 15 December 2007 in Dhaka. [5]
"Branch has provided Walmart and their driver partners valuable services allowing quick and easy access to funds via their business accounts — a key fact the bureau's press release omits," it said.