: Al-Arafah Islami Bank Ltd. has approved 15 per cent cash and five per cent stock dividend for the year ended on December 31, 2017 in its 23rd Annual General Meeting (AGM) held on May 24 at Al-Arafah Tower, Purana Paltan in the city.
The meeting was presided over by Alhajj Abdus Samad Labu, Chairman, Board of Directors, Al-Arafah Islami Bank.
The bank achieved growth of 22.58 per cent in deposit, 20.04 per cent in investment, 31.92 per cent in import and 18.59 per cent in export during the year 2017 compared to 2016.
At the end of 2017, the bank had Net Asset Value (NAV) of Tk 2075.92 crore and per share NAV of Tk 20.87 Earning Per Share (EPS) of the bank stood at Tk 3.15 in 2017.
In the AGM, the house considered and adopted the Directors' Report, Statement of Accounts for the year 2017 along with Auditors' Report and also appointed the Auditors of the Company for the term until the next Annual General Meeting.
The shareholders participated in the review of the overall performance of the bank and expressed their satisfaction. They made some valuable suggestions for improvement of performance and image of the bank.
Abdus Samad Labu, Chairman of the bank, thanked the shareholders for the confidence entrusted on the Board of Directors.
Samad, Salam re-elected
Alhajj Abdus Samad (Labu) has been re-elected as the Chairman and Alhajj Mohammed Abdus Salam re-elected as the Vice Chairman of Al-Arafah Islami Bank Limited.
The 322nd meeting of the Board of Directors re-assigned them as Chairman and Vice Chairman unanimously on May 24.
According to the decision of the meeting Chairman Alhajj Abdus Samad (Labu) and Vice Chairman Alhajj Mohammed Abdus Salam will continue their responsibilities for next two years.