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Investments of Islamic banking rise by 21.65pc

Published : Wednesday, 22 November, 2017 at 12:00 AM  Count : 136

The investments with the Islamic banking accounts have increased by 21.65 per cent at end of the September, 2017 compared to the corresponding period of the preceding year, 2016.
"The Islamic banking segment continued to show rapid expansion in terms of growth of assets, deposits, investments and number of accounts holders," a Bangladesh Bank (BB) senior official told BSS here on Tuesday.
According to the BB latest data, total investments (loans in conventional sense) in Islamic banking sector stood at Taka 1,93,244.27 crore in the July-September quarter, which went up by Taka 7,999.34 crore or by 4.32 per cent compared to the previous quarter and by Taka 34,394.59 crore or by 21.65 per cent compared to the same quarter of the preceding year.
During July to September period, total deposits in the banking industry reached at Taka 2,04,007.06 crore, which increased by Taka 4,582.15 crore or by 2.30 per cent compared to previous quarter and by Taka 25,869.89 crore or by 14.52 per cent compared to the corresponding quarter of the last year.
Investment-Deposit Ratio (credit-deposit ratio) reached 0.95 in July-September quarter which was 0.93 per cent in the April-June quarter of this year and 0.89 at the end of September 2016.
Total remittances mobilized by the Islamic banking sector stood at Taka 9,879.72 crore at the end of July-September quarter, which was higher by Taka 1,012.90 crore or by 11.42 per cent compared to the previous quarter and higher by taka 501.13 per cent or by 5.34 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 1,126 at the end of the July-September quarter review, which was 1,112 during the previous quarter and 1,051 during the same quarter of the last year.
The total deposits and investments of the eight full-fledged Islamic banks accounted for 94.90 per cent and 95.05 per cent of the deposits and investments of the Islamic banking industry.
Among Islamic banks, IBBL accounted for the biggest share of deposits and investments, which were 35.02 per cent and 35.36 per cent respectively.    -BSS






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