Exim Bank (Bangladesh) Explained

Export Import Bank of Bangladesh PLC.
Type:Public
Traded As:
Founder:Shahjahan Kabir
Area Served:145 branches and 56 sub branches in Bangladesh (November 2022)[1]
Key People:[2]
Industry:Banking
Services:Banking
Financial services
Num Employees:3242 (2021)[3]
Location:Dhaka, Bangladesh

Export Import Bank of Bangladesh PLC.[4] commonly known as EXIM Bank is one of the 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.[5] From its establishment the bank was known as BEXIM Bank Limited. But due to legal constraints, the bank was renamed as EXIM Bank, which stood for Export Import Bank of Bangladesh Limited.

History

EXIM Bank Limited was established in 1999, by Nazrul Islam Mazumder and Late Shahjahan Kabir.[6] Nazrul Islam Mazumder was also elected as the Chairman of the Bank.[7] The bank started functioning from 3 August 1999 with Alamgir Kabir, as the adviser and Mohammad Lakiotullah as the managing director. The bank started its operation with an initial authorised capital of Taka 1 billion (US$12.87 million) and paid up capital of Taka 225 million (US$2.9 million).[8]

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.[9] In 2007 about 80 students of different institutions like (DU, BUET, DMC, VNCS, and NDC) have taken scholarship.[10] The bank sponsored the "Beautification Project" of Dhaka mega city conducted by Dhaka City Corporation.[11] [12] It organized a 630 million BDT loan for Outpace Spinning Mills Limited in October 2007.[13] On 2009, the bank made history for being the first privately owned bank in Bangladesh to open an exchange house in the UK.[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 (US$207.31 million) and Tk.9.22 billion (US$118.7 million) respectively on 31 December 2011.

Mohammed Haider Ali Miah was appointed managing director of EXIM Bank in July 2012.[15]

Mohammed Haider Ali Miah was reappointed managing director of EXIM Bank in July 2015.[16]

In February 2019, Bangladesh Securities and Exchange Commission approved a 6 billion BDT bond issue by EXIM Bank.[17] Mohammed Haider Ali Miah was reappointed managing director of EXIM Bank in July.[18]

In May 2020, EXIM Bank sued two directors of Sikder Group, Ron Haque Sikder, and Dipu Haque Sikder, for assaulting two officials of the bank over a loan dispute.[19] [20] After an investigation by Detective Branch, the names of the two directors were dropped from the criminal case.[21]

In March 2021, EXIM Bank announced plans to issue 6 billion BDT through issuing mudaraba perpetual bond.[22]

Mohammad Firoz Hossain was appointed managing director of EXIM Bank in September.[23]

In March 2024, The EXIM Bank and Padma Bank signed a MoU at the Bangladesh Bank (BB) headquarters, under which the EXIM Bank will 'take over' the Padma Bank.[24] It is learnt that after the merger it will operate under the name EXIM Bank.[25] [26]

EXIM Bank Foundation

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.[27]

EXIM Bank set up EXIM Bank Agricultural University Bangladesh (EBAUB),[28] a private agricultural university at Chapainawabganj, Rajshahi.

A 5-storied building having 10,000 square feet of floor space at 840 Kazi Para, Rokeya Sarani, Mirpur, Dhaka-1216 has been hired to set up Exim Bank Hospital.[29]

Awards and achievements

See also

External links

Notes and References

  1. Web site: Exim Bank Branch List . EXIM Bank . 21 November 2022.
  2. Web site: EXIM Bank Board of Directors . 5 September 2024 . EXIM Bank.
  3. Web site: Financial Highlights . 31 December 2021 . EXIM Bank . 16 April 2014.
  4. Web site: Export Import Bank of Bangladesh Limited . Banglapedia . 10 May 2016.
  5. Web site: BankInfo . 10 May 2014 . EXIM Bank . 11 November 2010.
  6. Web site: EXIM bank's history . EXIM Bank . 11 November 2010 . 10 May 2014.
  7. News: BEXIM Bank founder passes away . 7 June 2014 . southeastbank.com.bd . 11 November 2010.
  8. News: EXIM BANK – BRAC University Institutional Repository . 7 June 2014 . BRAC University . 11 November 2012.
  9. News: EXIM Bank converts to Shariah based banking . 8 June 2014 . LankaBangla Financial Portal . 11 November 2013 . https://web.archive.org/web/20130806081941/http://lankabangla.duinvest.com/companyDetails.html?companyId=20&goToHomePageParam=true . 6 August 2013 . dead.
  10. News: Review of CSR Initiatives in Banks (2008 & 2009) . 8 June 2014 . Bangladesh Bank . April 2010 . 13 August 2017 . https://web.archive.org/web/20170813150217/https://www.bangladesh-bank.org/pub/annual/csr/csr0809.pdf . dead.
  11. News: Massive beautification of city for Saarc Summit . 8 June 2014 . The Daily Star . 1 November 2004.
  12. News: City greening moves fast . 8 June 2014 . News from Bangladesh . 16 October 2004.
  13. Web site: 2007-10-24 . Tk125cr syndicated loans arranged for spinning, composite textile mills . 2023-04-16 . The Daily Star . en.
  14. News: 3 more banks to offer offshore banking . 16 June 2014 . Priyo News . 23 August 2011 . https://web.archive.org/web/20140215065313/http://news.priyo.com/business/2011/08/23/3-more-banks-offer-offshore-ba-35576.html . 15 February 2014 . dead.
  15. Web site: 2012-07-26 . Exim Bank gets new MD . 2023-04-16 . The Daily Star . en.
  16. Web site: 2015-07-26 . Exim Bank reappoints MD . 2023-04-16 . The Daily Star . en.
  17. Web site: 2019-02-21 . BSEC approves Tk600cr Exim Bank bond . 2023-04-16 . The Daily Star . en.
  18. Web site: 2019-07-25 . Exim Bank MD reappointed . 2023-04-16 . The Daily Star . en.
  19. Web site: Report . Star Online . 2020-05-27 . Case filed over attempt to shoot Exim Bank top officials . 2023-04-16 . The Daily Star . en.
  20. Web site: 2020-05-29 . Case filed over 'torturing 2 top bank officials' . 2023-04-16 . The Daily Star . en.
  21. Web site: 2021-08-09 . Torturing Exim Bank officials: DB submits report dropping names of Ron Sikder, his brother . 2023-04-16 . The Daily Star . en.
  22. Web site: 2021-03-22 . EXIM Bank to raise Tk 600cr through Mudaraba bond . 2023-04-16 . The Daily Star . en.
  23. Web site: 2022-09-18 . Exim Bank gets new managing director . 2023-04-16 . The Daily Star . en.
  24. Web site: EXIM Bank takes over Padma Bank. The Financial Express.
  25. Web site: Padma-EXIM sign MoU, merged bank to run as EXIM. March 18, 2024. Prothom Alo.
  26. Web site: Exim-Padma Bank merger to take at least 18 months. Md Mehedi. Hasan. March 19, 2024. The Daily Star. https://web.archive.org/web/20240329105417/https://www.thedailystar.net/business/economy/banks/news/exim-padma-bank-merger-take-least-18-months-3569886 . 29 March 2024 .
  27. News: EXIM includes 580 more students in regular scholarship programme . 11 June 2014 . The Financial Express . 4 July 2013.
  28. News: PM opens Exim Bank Agricultural University . 11 June 2014 . Bangladeshinfo.com . 11 October 2013 . https://web.archive.org/web/20140714123036/http://bangladeshinfo.com/education/pm-opens-exim-bank-agricultural-university/ . 14 July 2014 . dead.
  29. Web site: Healthcare service . 30 June 2014 . EXIM Bank . 11 October 2011.
  30. News: ICMAB awards best corporate players . 8 June 2014 . The Daily Star . 13 January 2013.
  31. News: Exim Bank gets BIZZ Award −2013 . 8 June 2014 . The News Today . 14 January 2014.
  32. News: Exim Bank gets int'l award . 8 June 2014 . Daily Sun . 10 December 2012.

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