Exim Bank (Bangladesh)

Export Import Bank of Bangladesh Limited[5] (EXIM Bank) is one of the leading private commercial banks in Bangladesh. The Bank came into operation as a commercial bank on 3 August 1999 as per rules and regulations of Bangladesh Bank.[6] From its establishment the bank was known as BEXIM Bank Limited.[7] But due to legal constraints, the bank was renamed as EXIM Bank, which stood for Export Import Bank of Bangladesh Limited.

Export-Import Bank of Bangladesh
TypePrivate
DSE: EXIMBANK
CSE: EXIMBANK
IndustryBanking
Founded3 August 1999 (1999 -08-03)
FounderLate Mr. Shahjahan Kabir
HeadquartersDhaka, Bangladesh
Area served
100 branches in Bangladesh(Dec 2015)[1]
Key people
  • Mr Nazrul Islam Mazumder
    (Chairman)
  • Dr. Mohammed Haider Ali Miah
    (managing director )
[2]
ServicesBanking, Financial Services
Revenue ৳20.48 billion (US$240 million) (2013)[3]
৳8.285 billion (US$98 million) (2013)[3]
৳3.257 billion (US$39 million) (2013)[3]
Total assets৳195.55 billion (US$2.3 billion) (2013)[3]
Number of employees
1909 (2012)[4]
ParentNassa Group
Websitewww.eximbankbd.com

As of May 2015 the bank has operations across the country with 88 branches and 45 ATM booths.[8] By July 2004 the bank has migrated all of its conventional banking operation into Shariah based Islamic banking.[9]

Corporate social responsibility (CSR)[10] is one of the most concerned areas of the Bank.

Historical background

EXIM Bank Limited was established in 1999 by Shahjahan Kabir, founder chairman.[11] Nazrul Islam Mazumder became the new chairman after the founding chairman died.[12] The bank started functioning from 3 August 1999 with Alamgir Kabir, as the adviser and Mohammad Lakiotullah as the managing director. On 2009, the bank made history for being the first privately owned bank in Bangladesh to open an exchange house in the UK.[13] The bank started its operation with an initial authorised capital of Taka 1 billion ($12.87 million USD) and paid up capital of Taka 225 million (2.9 million USD).[14]

Since then the authorised and paid up capital remained unchanged till December 2000. Later, both were increased from time to time and their amounts stood at Tk.16.12 billion ($207.31 million USD) and Tk.9.22 billion ($118.7 million USD) respectively on 31 December 2011.[14] EXIM bank is the first bank in Bangladesh to have converted all of its operations of conventional banking into shariah-based banking, since July/2004.[15]

Prime operational area

As a full-fledged Islamic bank in Bangladesh, EXIM Bank extended all Islamic banking services including wide range of saving and investment products, foreign exchange and ancillary services with the support of sophisticated IT and professional management. The investment portfolio of the bank comprises diversified areas of business and industry sectors.[16][17] The sectors include textiles, edible oil, ready-made garments, chemicals, cement, telecommunication, steel, real estate and other service industry including general trade finance.[18]

Foreign exchange department

Foreign exchange is an important department of EXIM Bank Limited, which deals with import, export and foreign remittances. This department is playing an important role in enhancing export earning, which aids economic growth and in turn it helps for the economic development. On the other hand, it also helps to meet those goods and service, which are most demandable and not adequate in the country.[19]

Corporate social responsibilities

In past recent years the bank has supported the poor and meritorious student's education. In 2007 about 80 students of different institutions like (DU, BUET, DMC, VNCS, and NDC) have taken scholarship.[20] The bank sponsored the "Beautification Project" of Dhaka mega city conducted by Dhaka City Corporation.[21][22]

EXIM Bank Foundation

EXIM Bank Scholarship Program

EXIM Bank Scholarship Program was launched in the year 2006 with 61 poor meritorious students selected from different reputed educational institutions of Dhaka City including Government Laboratory High School, Viqarunnisa Noon School and College, Dhaka University, BUET, Dhaka Medical College, etc. Till 30 April 2013, they have enrolled as many as 2100 students from around 350 reputed educational institutions across the country.[23]

Exim Bank Agricultural University Bangladesh

The vulnerable features of Northern Bangladesh characterised by frequent river erosion, flood and drought, social inequalities in education & health, and migration affecting livelihoods of its poor inhabitants inspired the Bank for undertaking some initiatives for their assistance in advancement. Till then, there has been no existence of any private agricultural university in North Bengal, even though northern part of the country is densely populated and has enormous potential for agricultural development. A large portion of quality students having good results in SSC and HSC cannot get admission into public agricultural university every year. In essence, availability of admission would enable them to pursue higher education in agriculture. EXIM Bank Supports export import initiatives throughout the country. Thus, they have set up EXIM Bank Agricultural University Bangladesh (EBAUB),[24] a private agricultural university at Chapainawabgang, Rajshahi.

EXIM Bank Hospital

A 5-storied building having 10,000 square feet of floor space at 840 Kazi Para, RokeyaSarani, Mirpur, Dhaka-1216 has been hired to set up Exim Bank Hospital.[25]

Awards and achievements
  • ICMAB Best Corporate Award 2013[26]
  • International "BIZZ Award −2013"[27]

See also

References
  1. "Exim Bank celebrates 100th branch inauguration". International Publications Limited. 22 December 2015. Retrieved 26 December 2015.
  2. "EXIM Bank Board of Directors". Exim Bank. 7 May 2006. Retrieved 28 May 2014.
  3. "Consolidated Financial Statements 2013" (PDF). Pinaki & Company Chartered Accountants. 16 April 2014. Retrieved 11 June 2014.
  4. "Financial Highlights". EXIM Bank. 16 April 2014. Retrieved 11 June 2014.
  5. "Export Import Bank of Bangladesh Limited – Banglapedia". en.banglapedia.org. Retrieved 10 May 2016.
  6. "BankInfo". Bank Info. 11 November 2010. Retrieved 10 May 2014.
  7. "BEXIM Bank". Bank Overview. 11 November 2010. Retrieved 10 May 2014.
  8. "Bank Branches". Bank branches. 18 July 2013. Retrieved 7 June 2014.
  9. "Shariah based Islamic banking". Bank branches. 18 July 2005. Retrieved 7 June 2014.
  10. "Review of Corporate Social Responsibility(CSR) Initiatives in banks" (PDF). Bank branches. 8 July 2010. Retrieved 7 June 2014.
  11. "EXIM bank's history". Bank Info. 11 November 2010. Retrieved 10 May 2014.
  12. "BEXIM Bank founder passes away". Bank Info. 11 November 2010. Retrieved 7 June 2014.
  13. "3 more banks to offer offshore banking". Priyo News. 23 August 2011. Archived from the original on 15 February 2014. Retrieved 16 June 2014.
  14. "EXIM BANK – BRAC University Institutional Repository" (PDF). BRAC University. 11 November 2012. Retrieved 7 June 2014.
  15. "EXIM Bank converts to Shariah based banking". LankaBangla Financial Portal. 11 November 2013. Archived from the original on 6 August 2013. Retrieved 8 June 2014.
  16. "EXIM Bank's business indicators show upward trends". The Financial Express. Dhaka. 13 October 2012. Retrieved 8 June 2014.
  17. "EXIM Bank's thrust on IT, diversified businesses". The Financial Express. 27 October 2013. Retrieved 8 June 2014.
  18. "Investment of EXIM Bank". EXIM Bank. 12 June 2011. Retrieved 8 June 2014.
  19. "Foreign Exchange Operation of EXIM Bank Limited". Academia.edu. 12 June 2011. Retrieved 8 June 2014.
  20. "Review of CSR Initiatives in Banks – Bangladesh Bank" (PDF). Bangladesh Bank. 12 April 2010. Retrieved 8 June 2014.
  21. "Massive beautification of city for Saarc Summit". The Daily Star. 1 November 2004. Retrieved 8 June 2014.
  22. "City greening moves fast". News from Bangladesh. 16 October 2004. Retrieved 8 June 2014.
  23. "EXIM includes 580 more students in regular scholarship programme". The Financial Express. 4 July 2013. Retrieved 11 June 2014.
  24. "PM opens Exim Bank Agricultural University". Bangladeshinfo.com. 11 October 2013. Archived from the original on 14 July 2014. Retrieved 11 June 2014.
  25. "Healthcare service". EXIM Bank. 11 October 2011. Retrieved 30 June 2014.
  26. "ICMAB awards best corporate players". The Daily Star. 13 January 2013. Retrieved 8 June 2014.
  27. "Exim Bank gets BIZZ Award −2013". The News Today. 14 January 2014. Retrieved 8 June 2014.
  28. "Exim Bank gets int'l award". Daily Sun. 10 December 2012. Retrieved 8 June 2014.
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