Overview of EXIM Bank Limited

Historical Background of EXIM Bank Limited

EXIM Bank Limited was established under the rules & regulations of Bangladesh bank & the Bank companies’ Act 1991, on the 3^rd August 1999 with the leadership of Late Mr. Shahjahan Kabir, founder chairman who had a long dream of floating a commercial bank which would contribute to the social-economic development of our country. He had a long experience as a good banker. A group of highly qualified and successful entrepreneurs joined their hands with the founder chairman to materialize his dream. In deed, all of them proved themselves in their respective business as most successful star with their endeavor, intelligence, hard working and talent entrepreneurship. Among them, Mr. Nazrul Islam Mazumder became the honorable chairman after the demise of the honorable founder chairman.

 Of its very beginning, EXIM Bank Bangladesh limited was known as BEXIM Bank, which stands for Bangladesh Export Import Bank Limited. But for some legal constraints the bank renamed as EXIM Bank, which means Export Import Bank Of Bangladesh Limited.

The bank starts its functioning from 3rd August 1999 with Mr. Alamgir Kabir, FCA as the advisor and Mr. Mohammad Lakiotullah as the Managing Director. Both of them have long experience in the financial sector of our country. By their pragmatic decision and management directives in the operational activities, this bank has earned a secured and distinctive position in the banking industry in terms of performance, growth, and excellent management. The authorized capital and paid up capital of the bank are TK. 350.00 Crore and TK. 171.375 Crore respectively. The bank has migrated all of its conventional banking operation into Shariah based Islamic banking since July, 2004.

 Corporate Information

Name of the Bank                     : Export Import Bank of Bangladesh Limited

Status                                          : Private Limited Company

Date of Incorporation              : June 02, 1999

Inauguration of First Branch : August 03, 1999

Authorized Capital                   : TK. 350.00Crore

Paid-up Capital                         : TK. 267.78Crore

Number of Branches               : 44 (Forty Four)

Chairman                                   : Mr.Md. Nazrul Islam Mazumder

Company Secretary                  : Mr.Md. Golam Mahbub

Managing Director                   : Mr. Mohammed Lakiotullah

Credit Rating                             : Long Term: A- (Adequate Safety)

Short Term                                : ST-3 (Good Grade)

Registered Office                     : PrintersBuilding (5^th, 6^th, 10^th & 13^th Floor)

                                                       5 Rajuk Avenue, Dhaka-1000, Bangladesh.

                                                    Tel: 9561604, Fax: 880-2-9556988

                                                    E-mail:eximho@bdonline.com

                                                    Website: www.eximbankbd.com

SWIFT                                        : EXBKBDDH

Vision of EXIM Bank Limited:

The gist of EXIM Bank vision is “Together Towards Tomorrow”. EXIM Bank Limited believes in togetherness with its customer, in its march on the road to growth and progress with services. To achieve the desired goal, there will be pursuit of excellence at all stages with a climate of continuous improvement, because, EXIM Bank believes the line of excellence is never ending. Bank’s strategic plans and networking will strengthen its competitive edge over others in rapidly changing competitive environment. Its personalized quality service to the customers with the trend of constant improvement will be cornerstone to achieve our operational success.

Mission of EXIM Bank Limited:

The Bank has chalked out the following corporate objectives in order to ensure smooth achievement of its goals:

• To be the most caring, customer friendly and service oriented bank.
• To create a technology based most efficient banking environment for its customers.
• To ensure ethics and transparency in all levels.
• To ensure sustainable growth and establish full value of the shareholders.
• Above all, to add effective contribution to the national economy.

Eventually the Bank emphasizes on:

• Providing high quality financial services in export and import trade
• Providing efficient customer service
• Maintaining corporate and business ethics
• Being trusted repository of customers’ money and their financial adviser
• Making its products superior and rewarding to the customers
• Display team spirit and professionalism
• Sound Capital Base
• Enhancement of shareholders wealth
• Fulfilling its social commitments by expanding its charitable and humanitarian activities.

 Objectives of EXIM Bank Limited:

1.      To receive, borrow or raise money through deposits, loan or otherwise and to give guarantees and indemnities in respect of all debts and contracts.

2.      To establish welfare oriented banking systems.

3.      To play a vital role in human development and employment generation to invest money in such manner as may vary from time to time.

4.      To carry on business of buying and selling currency, gold and other valuable assets.

5.      To extend counseling and advisory services to the borrowers/entrepreneurs etc. in utilizing credit facilities of the bank.

6.      To earn a normal profit for meeting the operational expenses, building of reserve and expansion of activities to cover wider geographical area.

 Mode ofEXIM Bank- “Local Bank Global Network”

The word EXIM implies the meaning its operations. Though it is a new type of bank in Bangladesh, it is familiar with so many countries in the World such as Export Import Bank Of United States, Export Import Bank of Japan. Despite it is a local bank, it has spread of its operation in the whole world through foreign banking. Its motto is to provide quality services to the customers all over the world. So the mode of the bank “Local Bank Global Network” is completely adjustable with operation.

 Management Profile

 PRICE SENSITIVE INFORMATION

 Shareholder information of EXIM Bank

Year wise Dividend Position of the Bank

Achievement

It is a great pleasure that by the grace of Almighty Allah, we have migrated at a time all the branches from its conventional banking operation into Shariah based Islami banking operation without any trouble. Lot of uncertainties and adversities were there into this migration process. The officers and executives of our bank motivated the valued customers by counseling and persuasion in light with the spirit of Islam especially for the non-Muslim customers. Our IT division has done the excellent job of converting and fitting the conventional business processes into the processes based on Shariah. It has been made possible by following a systematic procedure of migration under the leadership of honorable Managing Director.

EXIM Bank at a Glance

 Branches of EXIM Bank Ltd

There are 55 branches of EXIM Bank Ltd Operating the business activities in Bangladesh. The Branches are as follows:

PRODUCT Information of EXIM Bank

1. Mudaraba Deposit Account (RFCD, NFCD)
2. Mudaraba Monthly Saving Scheme- Money Grower
3. Mudaraba Monthly Income Scheme- Steady Money
4. Mudaraba Super Savings Scheme- Double in 6 years
5. Mudaraba Multiplus Savings Scheme- More than triple in 10 years
6. Mudaraba Education Savings – For higher education
7. Mudaraba Hajj Prokalpa
8. Mudaraba Credit Cards
9. Foreign Currency Deposit Account
10. Corporate Finance
11. Commercial Finance
12. Industrial Finance
13. Project Finance
14. Lease Finance
15. Syndicate Finance
16. Hire Purchase Finance
17. Real Estate Finance

 1. Mudaraba Deposit Account (RFCD, NFCD)

The main objective of this account is to provide convenience to the customers in their savings. This account allows the customer to deposit his/her surplus money as and when available and receive lucrative profit on the same. The customer can deposit any sum desired at any time of the operational hours in this account.

2. Mudaraba Monthly Saving Scheme- Money Grower

The first and foremost objective of this scheme is to encourage people to build up a habit of savings. Under this scheme, one can deposit monthly a fixed amount of money regular and will receive a substantial amount with handsome benefit after maturity of reasonable period/tenure.

3. Mudaraba Monthly Income Scheme- Steady Money

It is an alluring and commonly accepted scheme of EXIM Bank as an investment of steady monthly return. Under this scheme, the depositor is allowed to deposit at least Tk.1, 00,000/- or its multiple amount for 3(three) years and in return he/she will receive profit on monthly basis at an attractive rate. This scheme mainly has been drown up as well as introduced for the benefit of middle-income group, practically retired personal.

4. Mudaraba Super Savings Scheme- Double in 6 years

Mudaraba Super Savings Scheme is offered for all classes of people, specially for the middle class, where the depositor is allowed to deposit at least Tk. 5,000/- or its multiple amount for 6(six) years and at the maturity of the account, deposited amount will be stood at more than double.

5. Mudaraba Multiplus Savings Scheme- More than triple in 10 years

Under this scheme, the depositor is allowed to deposit at least Tk.5,000/- or it’s multiple amounts for 10(ten) years and at the maturity of the account, it will be arrived at more than triple of his/her deposited amount. Moreover, the depositors may avail themselves of investment facility under above-mentioned schemes, by meeting easy terms and condition in regard to scheme(s), as the case may be.

6. Mudaraba Education Savings – For higher education

With a view to assisting the customer for higher education, EXIM Bank has introduced this scheme with convenient terms & conditions.

7. Mudaraba Hajj Prokalpa

In view of smooth arrangement for performing Hajj, EXIM bank has introduced this scheme under the tenure of 5, 8, 10, 15 & 20 years with nominal amount of deposit per month.

8. Mudaraba Credit Cards

This service is introduced for the utmost convenience of the customers in paying for their purchase of commodities. The customer is allowed to avail credit purchase through this card and enjoy compensation free payment within a certain period as long as 50 days.

The Salient Features of the card are-

• First Shariah Based Islamic Card by any Islami Bank in Bangladesh.
• Lowest Profit Rate in the Card Market
• Simple Profit Rate
• No Hidden Charge
• Dual Currency Facility in One Card
• Free Supplementary Card
• 24 Hours Customer Service
• Auto Debit Payment Facility
• Worldwide Acceptance
• Instant card message service in mobile

 9. Foreign Currency Deposit Account

This account provides the customer with safe and lucrative way of saving their foreign currency. All non-residents Bangladeshi are most welcome to save and remit their wages and earnings from abroad through this account.

Deposit:

Every body knows that the deposit is the lifeblood of a Bank. From the very beginning EXIM Bank Motijheel Branch is aware about deposit build-up. Though Motijheel is not basically a deposit-oriented area, the branch is trying to do better day by day. The opening deposit of the branch was around 7.00 crore and the deposit on May 15, 2004 was 363.69 crore.

BIBLIOGRAPHY

• Booklets published by EXIM Bank.
• EXIM Bank Ltd. Annual Report 2008
• Web site of EXIM Bank (www.eximbankbd.com)
• Newsletters published by EXIM Bank
• Prospectus of EXIM Bank Ltd.