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Exim Bank (Bangladesh)

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Export Import Bank of Bangladesh PLC.
Company typePublic
DSE: EXIMBANK
CSE: EXIMBANK
IndustryBanking
Founded3 August 1999 (1999 -08-03)
FounderShahjahan Kabir
HeadquartersDhaka, Bangladesh
Area served
145 branches and 56 sub branches in Bangladesh (November 2022)[1]
Key people
  • Md. Nazrul Islam Swapan
    (Chairman)
  • Mohammad Feroz Hossain
    (Managing director)
[2]
ServicesBanking
Financial services
Number of employees
3242 (2021)[3]
Websitewww.eximbankbd.com

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.[4]

History

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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.[8]

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

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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

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  • ICMAB Best Corporate Award 2013[30]
  • International "BIZZ Award −2013"[31]
  • International Diamond Prize for Excellence in Quality,[32] a vanity award

See also

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References

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  1. ^ "Exim Bank Branch List". EXIM Bank. 21 November 2022.
  2. ^ "EXIM Bank Board of Directors". EXIM Bank. Retrieved 5 September 2024.
  3. ^ "Financial Highlights". EXIM Bank. 16 April 2014. Retrieved 31 December 2021.
  4. ^ a b "Export Import Bank of Bangladesh Limited". Banglapedia. Retrieved 10 May 2016.
  5. ^ "BankInfo". EXIM Bank. 11 November 2010. Retrieved 10 May 2014.
  6. ^ "EXIM bank's history". EXIM Bank. 11 November 2010. Retrieved 10 May 2014.
  7. ^ "BEXIM Bank founder passes away". southeastbank.com.bd. 11 November 2010. Retrieved 7 June 2014.
  8. ^ a b "EXIM BANK – BRAC University Institutional Repository" (PDF). BRAC University. 11 November 2012. Retrieved 7 June 2014.
  9. ^ "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.
  10. ^ "Review of CSR Initiatives in Banks (2008 & 2009)" (PDF). Bangladesh Bank. April 2010. Archived from the original (PDF) on 13 August 2017. Retrieved 8 June 2014.
  11. ^ "Massive beautification of city for Saarc Summit". The Daily Star. 1 November 2004. Retrieved 8 June 2014.
  12. ^ "City greening moves fast". News from Bangladesh. 16 October 2004. Retrieved 8 June 2014.
  13. ^ "Tk125cr syndicated loans arranged for spinning, composite textile mills". The Daily Star. 24 October 2007. Retrieved 16 April 2023.
  14. ^ "3 more banks to offer offshore banking". Priyo News. 23 August 2011. Archived from the original on 15 February 2014. Retrieved 16 June 2014.
  15. ^ "Exim Bank gets new MD". The Daily Star. 26 July 2012. Retrieved 16 April 2023.
  16. ^ "Exim Bank reappoints MD". The Daily Star. 26 July 2015. Retrieved 16 April 2023.
  17. ^ "BSEC approves Tk600cr Exim Bank bond". The Daily Star. 21 February 2019. Retrieved 16 April 2023.
  18. ^ "Exim Bank MD reappointed". The Daily Star. 25 July 2019. Retrieved 16 April 2023.
  19. ^ Report, Star Online (27 May 2020). "Case filed over attempt to shoot Exim Bank top officials". The Daily Star. Retrieved 16 April 2023.
  20. ^ "Case filed over 'torturing 2 top bank officials'". The Daily Star. 29 May 2020. Retrieved 16 April 2023.
  21. ^ "Torturing Exim Bank officials: DB submits report dropping names of Ron Sikder, his brother". The Daily Star. 9 August 2021. Retrieved 16 April 2023.
  22. ^ "EXIM Bank to raise Tk 600cr through Mudaraba bond". The Daily Star. 22 March 2021. Retrieved 16 April 2023.
  23. ^ "Exim Bank gets new managing director". The Daily Star. 18 September 2022. Retrieved 16 April 2023.
  24. ^ "EXIM Bank takes over Padma Bank". The Financial Express.
  25. ^ "Padma-EXIM sign MoU, merged bank to run as EXIM". Prothom Alo. 18 March 2024.
  26. ^ Hasan, Md Mehedi (19 March 2024). "Exim-Padma Bank merger to take at least 18 months". The Daily Star. Archived from the original on 29 March 2024.
  27. ^ "EXIM includes 580 more students in regular scholarship programme". The Financial Express. 4 July 2013. Retrieved 11 June 2014.
  28. ^ "PM opens Exim Bank Agricultural University". Bangladeshinfo.com. 11 October 2013. Archived from the original on 14 July 2014. Retrieved 11 June 2014.
  29. ^ "Healthcare service". EXIM Bank. 11 October 2011. Retrieved 30 June 2014.
  30. ^ "ICMAB awards best corporate players". The Daily Star. 13 January 2013. Retrieved 8 June 2014.
  31. ^ "Exim Bank gets BIZZ Award −2013". The News Today. 14 January 2014. Retrieved 8 June 2014.
  32. ^ "Exim Bank gets int'l award". Daily Sun. 10 December 2012. Retrieved 8 June 2014.
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