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.
As of May 2015 the bank has operations across the country with 88 branches and 45 ATM booths. By July 2004 the bank has migrated all of its conventional banking operation into Shariah based Islamic banking.
Corporate social responsibility (CSR) is one of the most concerned areas of the Bank.
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. On 2009, the bank made history for being the first privately owned bank in Bangladesh to open an exchange house in the UK. The bank started its operation with an initial authorised capital of Taka 1 billion ($12.87 million USD) and paid up capital of Taka 225 million (2.9 million USD).
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 ($207.31 million USD) and Tk.9.22 billion ($118.7 million USD) respectively on 31 December 2011. 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.
Prime operational area
As a full-fledged Islamic bank in Bangladesh, EXIM Bank extended all Islamic banking services including wide range of saving and investment products, foreign exchange and ancillary services with the support of sophisticated IT and professional management. The investment portfolio of the bank comprises diversified areas of business and industry sectors. The sectors include textiles, edible oil, ready-made garments, chemicals, cement, telecommunication, steel, real estate and other service industry including general trade finance.
Foreign exchange department
Foreign exchange is an important department of EXIM Bank Limited, which deals with import, export and foreign remittances. This department is playing an important role in enhancing export earning, which aids economic growth and in turn it helps for the economic development. On the other hand, it also helps to meet those goods and service, which are most demandable and not adequate in the country.
Product and services
– Deposits – Investments – Cards – Internet Banking – SMS Banking – Locker Services
– Investments – Foreign Exchange & Trade Finance – Correspondent Banking – Import Finance – Export Finance
SME Banking (Small and medium enterprises)
– EXIM Uddyog – EXIM Abalamban
– EXIM Kishan
Foreign Remittance – Exim Exchange Company (UK) Ltd. – Exim Exchange Company (Canada) Ltd. – Exim (USA) Inc. – Exim Exchange (Australia) Pty. – SWIFT – International Operation
Corporate social responsibilities
In past recent years the bank has supported the poor and meritorious students for smoothen their education. 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.
Activities of EXIM Bank Foundation
EXIM Bank Scholarship Program
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 Agricultural University Bangladesh
The vulnerable features of Northern Bangladesh characterised by frequent river erosion, flood and drought, social inequalities in education & health, and migration affecting livelihoods of its poor inhabitants inspired the Bank for undertaking some initiatives for their assistance in advancement. Till then, there has been no existence of any private agricultural university in North Bengal, even though northern part of the country is densely populated and has enormous potential for agricultural development. A large portion of quality students having good results in SSC and HSC cannot get admission into public agricultural university every year. In essence, availability of admission would enable them to pursue higher education in agriculture. EXIM Bank Supports export import initiatives throughout the country. Thus, they have set up EXIM Bank Agricultural University Bangladesh(EBAUB), a private agricultural university at Chapainawabgang, Rajshahi.
EXIM Bank Hospital
A 5-storied building having 10,000 square feet of floor space at 840 Kazi Para, RokeyaSarani, 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
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- ^“Massive beautification of city for Saarc Summit”. The Daily Star. 1 November 2004. Retrieved 8 June 2014.
- ^“City greening moves fast”. News from Bangladesh. 16 October 2004. Retrieved 8 June2014.
- ^“EXIM includes 580 more students in regular scholarship programme”. The Financial Express. 4 July 2013. Retrieved 11 June 2014.
- ^“PM opens Exim Bank Agricultural University”. Bangladeshinfo.com. 11 October 2013. Retrieved 11 June 2014.
- ^“Healthcare service”. EXIM Bank. 11 October 2011. Retrieved 30 June 2014.
- ^“ICMAB awards best corporate players”. The Daily Star. 13 January 2013. Retrieved 8 June 2014.
- ^“Exim Bank gets BIZZ Award −2013”. The News Today. 14 January 2014. Retrieved 8 June 2014.
- ^“Exim Bank gets int’l award”. Daily Sun. 10 December 2012. Retrieved 8 June 2014.
Ofer Abarbanel is a 25 year securities lending broker and expert who has advised many Israeli regulators, among them the Israel Tax Authority, with respect to stock loans, repurchase agreements and credit derivatives. Founder TBIL.co STATX Fund.