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'Islami Bank is number one bank'

Senior Reporter |
Inserted: 19:41, Sunday 08 January 2017 || Updated: 21:18, Monday 09 January 2017

'Islami Bank is number one bank' - Business
Finance Minister AMA Muhith

Dhaka: Finance Minister AMA Muhith on Sunday ruled out the possibility of any impact on the existing banking performance of Islami Bank Bangladesh Limited (IBBL) after changing its Board of Directors.

“Islami Bank is the number one bank in terms of business. The changes have happened in the bank for providing better services,” he said.

The finance minister came up with the observation during a meeting with Metropolitan Chamber of Commerce and Industry (MCCI) delegation led by its president Nihad Kabir at the secretariat in the city.

In response to a question on Islami Bank, Muhith said the foreign partners of the bank were changed and everything happened with the consent of the partners.

The Islami Bank Bangladesh Ltd of late appointed its director Arastoo Khan the new chairman as the private bank brought major changes in key positions. The bank's managing director has also been changed.

During the meeting, the MCCI team observed that Bangladesh would have to address properly some challenges for sustaining the economic growth and achieving the next development goals.

The challenges are: accelerating economic growth, reducing income poverty, boosting the agriculture sector growth, expanding the industrial sector, improving physical infrastructure, improving macroeconomic management through fiscal policy reform, bringing improvement in banking and monetary policy, controlling inflation, diversifying export, solving external sector problems, promoting human resource infrastructure, addressing governance problems and ensuring political stability.

The team also suggested that a rise in savings and investment, economic reforms and the development of the private sector are important issues for achieving accelerated growth.

MCCI recommended that an immediate review of the physical condition of existing plants would be undertaken and maintenance carried out to improve the plants operation for power sector development.

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