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19 February, 2018 00:00 00 AM
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Investments with Islamic banking increases by 19.03pc

BSS

The investments with the Islamic banking accounts have increased by 19.03 per cent at end of the October-December quarter of 2017 compared to the corresponding period of the preceding year, 2016, reports BSS.

“The Islamic banking segment continued to show rapid expansion in terms of growth of assets, deposits, investments and number of account holders,” a Bangladesh Bank (BB) senior official told the news agency in the capital yesterday.

According to the BB latest data, total investments (loans in conventional sense) in Islamic banking sector stood at Tk2, 01,101.96 crore at the end of October-December 2017 quarter, which went up by Tk7, 857.68 crore or by 4.07 per cent compared to the previous quarter and by Tk 32, 144.48 crore or by 19.03 per cent compared to the same quarter of the preceding year.

During the October-December period, the total deposits in the banking industry reached Tk 2,14,259.42 crore, which increased by Tk 10,252.36 crore or by 5.03 per cent compared to the previous quarter and by Tk 26,564.52 crore or by 14.15 per cent compared to the corresponding quarter of the last year.

The Investment-Deposit Ratio (credit-deposit ratio in conventional sense) reached 0.94 in October-December quarter which was 0.95 in the previous quarter of 2017 and 0.90 at the end of December 2016.

The total remittances mobilized by the Islamic banking sector stood at Tk 11,070.85 crore at the end of October-December quarter, which was higher by Tk1,191.14 crore or by 12.06 per cent compared to the previous quarter and higher by Tk 1,901.21 crore or by 20.73 per cent compared to the same quarter of the preceding year.

The number of branches of Islamic banking sector including Islamic branches or windows of conventional commercial banks stood at 1,168 at the end of the October-December quarter, which was 1,126 during the previous quarter and 1,050 during the same quarter of 2016.

After analysing the sector-wise investments, it is observed that investments in the trade and business sector was 28.93 percent, which was highest among all sectors at the end o f October to December quarter 2017.

The next position was occupied by Micro Small and Medium Enterprises (MSME), which stood at 27.52 per cent followed by industrial sector (25.29 per cent), others (7.80 per cent), real estate (6.50 per cent), agriculture (1.71 per cent), transportation (1.33 per cent), electricity, gas and water supply (0.82 per cent) and poverty alleviation (0.09 per cent).

 

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Editor : M. Shamsur Rahman

Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

Editor : M. Shamsur Rahman
Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

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