DHAKA: The board of directors of Islami Bank Bangladesh Limited (IBBL) recommended 20% cash dividend for the shareholders for the year 2015 subject to approval of the 33rd Annual General Meeting of the Bank.

The decision came from a meeting of the board held at Islami Bank Tower on Tuesday (April 19) with its Chairman Engineer Mustafa Anwar in the chair.

Directors of the Board and the bank’s managing director (MD) Mohammad Abdul Mannan attended the meeting.

The meeting approved the Profit & Loss Account and Balance Sheet for the year 2015 ended on December 31.

The Board also decided to hold 33rd Annual General Meeting of the Bank on June 2, 2016 at Bangabandhu International Conference Centre (BICC), Dhaka.

The Record date for entitlement of Dividend has been fixed on May 11, 2016.

The meeting finalized the annual profit rate of Mudaraba Perpetual Bond of the Bank as 10.34% for the year 2015 which is the sum of 8.34% final rate of profit of 8 years term Mudaraba Savings Bond and 2.00% of the declared dividend.

The Profit of the Bond will be distributed within 30 days from holding of annual general meeting (AGM) of the Bank.

The meeting expressed satisfaction while evaluating the performance of the bank over the success & progress achieved so far and took some important business decisions.

BDST: 2024 HRS, APR 19, 2016
RR