Global Islami Bank

Last updated
Global Islami Bank PLC
FormerlyNRB Global Bank
Company typeCommercial bank
DSE:  GLOBALISLAMIBANK
Industry Banking
FoundedJuly 25, 2013
Headquarters Dhaka, Bangladesh
Key people
Mr. Syed Habib Hasnat (Managing Director)
Products Banking services, ATM services

Consumer Banking
Corporate Banking

Investment Banking
Website Official Website

Global Islami Bank PLC, formerly known as NRB Global Bank, is a fourth generation Bangladeshi sharia compliant private bank. [1] [2] Nizam Chowdhury is the chairperson of the Bank. [3] [4] Syed Habib Hasnat is the managing director of Global Islami Bank. [5]

History

The Bank was founded as NRB Global Bank on 25 July 2013 targeting not resident Bangladeshis. [6] Bangladesh Bank provided licenses to nine banks including NRB Global Bank in 2013 on the condition that the bank will eventually list on the stock market. [7] On 14 August 2013, Md Abdul Quddus was appointed managing director of NRB Global Bank. [8]

In 2015, Prashanta Kumar Halder became the managing director of the Bank. [9]

Nizam Chowdhury, director of Diamond Life Insurance Company Limited and Kushira Power Limited, was appointed chairman of NRB Global Bank in August 2016. [10]

In April 2019, the NRB Global Bank announced its intention to change its name to Global Bank of Bangladesh due to the existence of two banks, NRB Commercial Bank Limited and NRB Bank, which included NRB in their names. [11]

In 2020, NRB Global Bank was providing both conventional and sharia compliant banking services. [12] In August 2020, Bangladesh Financial Intelligence Unit ordered the freezing of banks accounts of the former managing director of NRB Global Bank Proshanta Kumar Halder and his family members. [13] Halder was being investigated for embezzlement from multiple financial institutions. [13] On 31 December 2020, the bank announced plans to change their name. [14] Former managing director of the Bank, Proshanto Kumar Haldar, is suspected by the Anti-Corruption Commission of embezzling hundreds of millions taka from various financial institutions. [15] [16]

On 3 January 2021, NRB Global Bank rebranded itself as Global Islami Bank and became a sharia compliant bank. [17] In June, the banks proposal to raise 42.5 billion taka from an IPO was approved by Bangladesh Bank. [7] In September 2021, Bangladesh Bank fined the bank for going beyond the investment ceiling for banks in the stock market. [18]

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References

  1. ↑ "NRB Global Bank turns Global Islami Bank". Priyo . Retrieved 2022-01-01.
  2. ↑ "NRB Global Bank Renamed as Global Islami Bank; Switches to Full-Fledged Shariah-Based Islamic Banking Operations". islamicmarkets.com. Retrieved 2022-01-01.
  3. ↑ "The main characteristics of Bengalees are self reliant and hard-working". Business America Magazine. 2020-12-04. Retrieved 2022-01-01.
  4. ↑ "Nizam Chowdhury, Chairman of NRB Global Bank Ltd". The New Nation. Retrieved 1 January 2022.
  5. ↑ "Global Islami Bank starts journey". Daily Sun. Retrieved 1 January 2022.
  6. ↑ "GIB Profile". Global Islami Bank. Retrieved 1 January 2022.
  7. 1 2 "Global Islami Bank to raise Tk 425 crore through IPO". The Business Post . Retrieved 1 January 2022.
  8. ↑ "NRB Global Bank gets top boss". The Daily Star. 14 August 2013. Retrieved 1 January 2022.
  9. ↑ "New MD for NRB Global Bank". The Daily Star. 28 July 2015. Retrieved 1 January 2022.
  10. ↑ "New chairman of NRB Global Bank". The Daily Star. 24 August 2016. Retrieved 1 January 2022.
  11. ↑ "NRB Global Bank wants to change name". Bangla Tribune . Retrieved 1 January 2022.
  12. ↑ "NRB Global Bank opens six sub-branches". The Financial Express (Bangladesh) . Retrieved 1 January 2022.
  13. 1 2 "BFIU orders freeze of NRB Global Bank ex-MD's accounts". The Daily Star. 2020-08-18. Retrieved 2022-01-01.
  14. ↑ "NRB Global Bank to be renamed Global Islami Bank in new year". Business Insider (Bangladesh) . Retrieved 1 January 2022.
  15. ↑ "Amassing Tk 275cr Illegally: Case filed against ex-MD of NRB Global Bank". The Daily Star. 9 January 2020. Retrieved 1 January 2022.
  16. ↑ "ACC finds Tk 1,636cr 'shady transactions' by NRB Global Bank ex-MD". The Daily Star. 2020-01-08. Retrieved 1 January 2022.
  17. ↑ "NRB Global Bank turns Global Islami Bank". The Daily Star. 3 January 2021. Retrieved 1 January 2022.
  18. ↑ Uddin, AKM Zamir (6 September 2021). "NRB Commercial Bank fined for breaching stock investment ceiling". The Daily Star. Retrieved 1 January 2022.


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