Economic Reporter :
The investments with the Islamic banking accounts have increased by 21.65 percent 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.
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 percent compared to the previous quarter and by Taka 34,394.59 crore or by 21.65 percent 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 percent compared to previous quarter and by Taka 25,869.89 crore or by 14.52 percent 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 percent 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 percent compared to the previous quarter and higher by taka 501.13 percent or by 5.34 percent 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 percent and 95.05 percent 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 percent and 35.36 percent respectively.
