Islami Bank Bangladesh Limited (IBBL) on Tuesday approved 25 percent stock and 7 percent cash dividends for the shareholders for the year 2011.

The approval came at the 29th Annual General Meeting (AGM) of the bank held at Bangabandhu International Conference Centre in the city, said a press release.

Prof Abu Nasser Muhammad Abduz Zaher presided over the meeting that approved balance sheet of up to 31st December in 2011, Profit and Loss Account and Reports of the Directors and Auditors.

Abu Nasser Muhammad Abduz Zaher said, “IBBL like the previous years has been able to keep its number one position by this time also in deposit, investment, import, export and remittances in the banking sector of the country.”

He thanked all the 16 crore people of the country including shareholders, 6 million depositors, 5 hundred thousand investment clients, well wishers, officials and employees of the bank for the success.

In the programme, Dr Ahmad Mohamed Ali, President of Islamic Development Bank (IDB), sent a message.

Hafizul Islam Mian read out the message on behalf of the IDB president.

The IDB president in his message said, “IBBL has become a trusted name in Bangladesh over the last 28 years.”

“In addition to maintaining a successful operational track record, it has also been contributing actively towards the development of the Islamic financial industry and social services in Bangladesh,” he said.

IBBL has become an active player in international scene through cross-border strategic alliances with Islamic banks in Asia and Africa, the IDB president said, adding that it would have a positive impact on the development of the global financial institutions. The IBBL chairman Abu Nasser Muhammad Abduz Zaher said, “What we do is for the betterment of the people of the country.”

Therefore, the bank has been the bank of the mass people irrespective of caste and creed, he added.