Vision of IBBL

Vision of IBBL:
To always strive to achieve superior financial performance, be considered a leading Islamic Bank by reputation and performance. To establish and maintain the modern banking techniques,

Mission of IBBL

Mission of IBBL:
To establish Islamic banking through the introduction of a welfare oriented banking system and also ensure equity and justice in the field of all economic activities, achieve

Prima facie

Prima facie is a Latin expression meaning 'on its first appearance', or 'by the first instance'.Prima-First, facie-face. It is use to signify that on first examination, a matter appears to be self-evident from the facts. Prima facie denotes evidence which would be sufficient to prove a particular proposition or fact.

Setoff

Setoff:
Bank's legal right to seize a borrower's any account balance in the same bank to apply it toward the borrower's any loan in arrears, or in anticipation of a default. In some jurisdictions (USA), this right is not applicable to consumer and credit card loans.

Garnishee order

Garnishee order:
A court order instructing a garnishee ( a bank) that funds held on behalf of a debtor ( the judgment debtor) should not be released until directed by the court. The order may also instruct the bank to pay a given sum to the judgment creditor ( the person to whom a debt is owed by the judgment debtor) from these funds.

Management Accounting

Definition of Management Accounting:

According to the Chartered Institution of Management Accountants (CIMA), Management Accounting is the process of identification, measurement, accumulation, analysis, preparation, interpretation and communication

ISBP 2007

ISBP stand for International Standard Banking Practice for the Examination of Documents under Documentary Letter of Credit. It is an ICC publication and official ICC document. ISBP was prepared in order to fill the gap between general principals of UCP and the daily practice.

Defination of Islamic Banking

As per OIC
Islamic Banking is a financial Institution whose statutes, rules and procedures expressly state its commitment to the principles of Islamic Shariah and to the banning of receipt and payment of interest on any of its operations.

Negotiation

As per UCP-600
Negotiation means
the purchase by the nominated bank of drafts (drawn on a bank other than the nominated bank) and/or documents under a complying presentation, by advancing or agreeing to advance funds to the beneficiary on or before the banking day on which reimbursement is due to the nominated bank.

Honour

As per UCP-600
Honour means:
a. to pay at sight if the credit is available by sight payment.
b. to incur a deferred payment undertaking and pay at maturity if the credit is available by deferred payment.
c. to accept a bill of exchange ('draft') drawn by the beneficiary and pay at maturity if the credit is available by acceptance.

Complying Presentation

As per UCP-600
Complying Presentation means a presentation that is in accordance with the terms and conditions of the credit, the applicable provisions of these rules (UCP-600) and international standard banking practice (ISBP).

Credit as per UCP-600

Credit means any arrangement, however named or described, that is irrevocable and thereby constitutes a definite undertaking of the issuing bank to honour a complying presentation.

Facts file

Regularoty Capital of IBBL:
As on 31/12/2010 (Amount in Crore Taka)
Tier-1 Core Capital -1,855.98
Tier-II Suplimentary Capital-984.02
Tier-III Additional Supplimentary Capital-0
Total: 2,840.00

Risk Weighted Assets(RWA) for
1. Investment Credit risk: 23,587.68
2. Market Risk: 226.16
3. Operational Risk: 1,866.65
Total  RWA 25680.49