Islami Bank recommends 25pc stock dividend
The board of directors of Islami Bank Bangladesh Limited has recommended 25 per cent stock dividend for the year 2005.The dividend was recommended at a board meeting held in Dhaka on Thursday, says a press release. Presided over by Kazi Harun-ar-Rashid, chairman of the bank, the meeting was also attended by local and foreign directors including Mohammad Fouad Al-Khateeb and Dr Ali MS Alghadmy of KSA. The meeting also approved the profit and loss account for the year 2005 and balance sheet as on December 31, 2005. The meeting also decided that the 23rd annual general meeting of the bank will be held on September 1 and the record date in connection with the stock dividend will be on August 2. The deposit of the bank increased to Tk10,826 crore as on December 31, 2005 from Tk8,845 crore as on December 31, 2004, recording 22.40 per cent growth. Investment of the bank stood at Tk10,214 crore as on December 31, 2005 as against Tk8,389 crore as on December 31, 2004, showing a growth rate of 21.75 per cent, the release added.
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