Annual Report 2011 of Islamic Finance and Investment Limited

It is a broadly described annual report of Islamic Finance & Investment Limited in the year of 2011. The total deposit of IFIL stood at Tk. 2881 million on December 31^st, 2011 which was 13% higher in comparison to December 31^st, 2010 (Tk. 2552 million). General investment outstanding also posted 18% growth in 2011 (Tk. 3782 million in 2011 and Tk. 3197 million in 2010). A huge requirement for provision i.e. an additional provision for Tk. 12.14 Crore in 2011 pulled the company’s core profit down. As a result, our pre-tax profit fell to Tk. 6.78 Crore in 2012 against Tk. 16.82 Crore in 2011 in spite of the company’s better performance in the company’s core business. Post-tax profit declined to Tk. 27.60 million from Tk. 123.85 million in 2010.

The Board of Directors considering the market conditions recommended @10% stock dividend for the year 2011 compared to @16% for last year. These financial statements are presented in Bangladesh Taka (Taka/Tk/BDT) which is the company’s functional currency. All financial information presented in Taka has been rounded off to the nearest Taka.

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