Share of Islamic banks 24pc in banking sector
BSS, Dhaka
The share of the total Investment of Islamic banks accounted for 24.02 percent among the all banks at the end of July to September quarter in 2018 which was 23.93 percent in the previous April to June quarter, according to the Bangladesh Bank (BB) latest data.
Among different segments of Bangladeshs Islamic finance industry, the Islamic banking industry is dominating. 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 yesterday.
He said the share of Islamic banking sector can be reckoned close to 25 percent of the entire banking sector and it plays a significant role in mobilizing deposits and financing different sectors of the economy.
During the July to September quarter, the total investments (loans in conventional sense) in Islamic banking sector stood at Tk 2,20,343.15 crore which went up by Tk 3,515.72 crore or by 1.62 percent compared to the previous quarter and by Tk 27,098.88 crore or by 14.02 percent compared to the corresponding quarter of the preceding year.
During the July to September period, the total deposits in the Islamic banks reached Tk 2,27,814.44 crore, which increased by Tk 3,056.64 crore or by 1.36 percent compared to the previous quarter and by Tk 23,807.38 crore or by 11.67 percent compared to the corresponding quarter of the last year.
The Investment-Deposit Ratio (credit-deposit ratio in conventional sense) reached 0.97 in July-September quarter which was 0.96 in the previous quarter of 2018 and 0.95 at the end of September 2017.
The total remittances mobilised by the Islamic banking sector stood at Tk 12,281.95 crore at the end of July-September 2018 quarter, which was higher by Tk 820.05 crore or by 7.15 percent compared to the previous quarter as well as higher by Tk 2,402.23 crore or by 24.31 percent compared to the corresponding quarter of the preceding year.
The number of branches of Islamic banking sector including Islamic branches or windows of conventional commercial banks stood at 1,200 at the end of the July-September quarter while there were 1,178 branches during the previous quarter and 1,126 during the corresponding quarter of 2017.
