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Social Islami Bank Limited (Sib) & its Principles ORGANIZATION Definition of a Bank: A bank is a business that deals in money and credit. Banks are different to other business as they do not sell goods to the customer but they sell financial services. INTRODUCTION
Since the establishment Social Islami Bank Limited has come forward as a private commercial bank and very encourage has come forward as the stimulator of economic activities in the country. The bank has been entrusted with the responsibility of undertaking various steps related to the development of the country’s commercial, industrial and agricultural sectors. The banking sector of a country is called the economic barometer of the country. As a pioneer commercial bank in the private sector in Bangladesh Social Investment Bank provides considerable financial helps in the business sector that imports industrial goods and/or exports excess production outside the country for profit. Thus for imports the Social Investment Bank provides LIM (Loan against Import Merchandise) and LTR (Loan against Trust Receipt) facility and for exports provides both pre shipment and post shipment finances. Thus with these bank helps the prospects in the business sector has increased more than ever before. Competition has also increased in the commercial arena and obviously it is a symbol economic uplift of our country. HISTORICAL BACKGROUND OF SIBL Social Islami Bank Limited (SIBL) is a banking company registered under the companies Act 1994 with its head office 15 Dilkusha C/A, Dhaka-1000. The bank operates as a scheduled bank under a banking license issued by the Bangladesh Bank, Central Bank of the country. Bank started its operation from 22, November 1995. SIBL is a capitalized new generating Bank with an authorized capital and paid up capital of Taka 585 million in 2005 and also. 585 million respectively as of December 2004.Currently the bank has 24 branches of which 12 in Dhaka, 4 in Chittagong, 1 in Sylhet, 2 in Narayanganj, 1 in Bogra, 1 in Khulna, 1 in Rajsahi, 1 in Sirajgonj. More branches are planning to be opened soon. The bank undertakes all types