Exim Bank (Bangladesh)

Export Import Bank of Bangladesh Limited (EXIM Bank) is one of the leading 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. 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.

History

EXIM Bank Limited was established in 1999 by Shahjahan Kabir, founder chairman. Nazrul Islam Mazumder became the new chairman after the founding chairman died. 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).

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. In 2007 about 80 students of different institutions like ( DU, BUET, DMC, VNCS, and NDC) have taken scholarship. The bank sponsored the "Beautification Project" of Dhaka mega city conducted by Dhaka City Corporation. It organized a 630 million BDT loan for Outpace Spinning Mills Limited in October 2007. On 2009, the bank made history for being the first privately owned bank in Bangladesh to open an exchange house in the UK.

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.

Mohammed Haider Ali Miah was appointed managing director of EXIM Bank in July 2012.

Mohammed Haider Ali Miah was reappointed managing director of EXIM Bank in July 2015.

In February 2019, Bangladesh Securities and Exchange Commission approved a 6 billion BDT bond issue by EXIM Bank. Mohammed Haider Ali Miah was reappointed managing director of EXIM Bank in July.

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. After an investigation by Detective Branch, the names of the two directors were dropped from the criminal case.

In March 2021, EXIM Bank announced plans to issue 6 billion BDT through issuing mudaraba perpetual bond.

Mohammad Firoz Hossain was appointed managing director of EXIM Bank in September. According to Bangladesh Bank in December 2022, Nazrul Islam Mazumder, chairman of EXIM Bank and Nassa Group, took 11.49 billion BDT loan from Islami Bank Bangladesh Limited.

EXIM Bank Foundation

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.

EXIM Bank set up EXIM Bank Agricultural University Bangladesh (EBAUB), a private agricultural university at Chapainawabgang, 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.

Awards and achievements

*ICMAB Best Corporate Award 2013
*International "BIZZ Award −2013"
*International Diamond Prize for Excellence in Quality, a vanity award

See also

* Islamic banking

References

External links

EXIM Bank Web site

{{Authority control

Banks of Bangladesh
Banks established in 1999
Organizations established in 1990
Foreign trade of Bangladesh
Export credit agencies
Islamic banks of Bangladesh
Bangladeshi companies established in 1999