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Årsrapport 2011 Al-Arafah. Årsrapport 2011. Årsrapport 2011 Allah tillater handel og forbyder usury Sura Bakara-275 Qur anic Verser av interesse Hadith av interesse Opinion of other religions and Great Men of Interest Bo Styrets eksekutivkomite, revisjonsutvalg, tilsynsråd for sharia Styringsgruppe Visjon, oppdrag og forpliktelser Selskapsinformasjon Innkalling til 17. generalforsamling 5 års finansiell høydepunkter Økonomisk innvirkning Rapport Verdiskapende uttalelser Formann s Adm. direktør s Adresse Styrets beretning Regjeringsrapport fra Shariahs tilsynsutvalg Revisorsrapport og han sa de er alle like muslimske l Abdullah Ibn Masud R har sitert en Hadith of Rasul Allah s Messenger S som sagt Når utroskap og lønn blir voldsom i et samfunn, er det uunngåelig at vrede av Allah vil komme over dem Abu Yala l Abu Huraira R har fortalt at Rasul Allah s Messenger S sa Allah som sin unike rettighet vil ikke tillate at fire kategorier av mennesker kommer inn i himmelen og også avstå fra å smake på hans bounties 1 Drunkard 2 Usury 3 Forgjengere av foreldreløsdom og 4 foreldres ulydighet Mustadarake Hakim l Abu Huraira R har fortalt at R asul Allah s Messenger S sa at du burde beskytte deg mot 7 syv ødeleggende problemstillinger, hva er dem - skjedde sine følgesvenner Han sa at de er 1 Bli med i tilbedelse andre med Allah 2 Mesmerizing 3 Drep noen ulovlig 4 Usury 5 Devourers of orphan s wealth 6 Fly fra slagmarken og 7 for å belaste mot kaste kvinner Bukhari, muslim og Abu Daud l Samura Ibn Zundub R har fortalt at Rasul Allah s Messenger S sa jeg så i en drøm at to personer kom til meg og tok meg til et hellig sted Deretter tre av oss gikk videre til en elv som var full til blod og så at en mann svømte i elva og en annen stod på banken med store steiner foran ham. Da svømmeren nærmet banken, slo mannen som stod på den og slo simmeren med steiner så tungt at han trakk seg tilbake til sitt opprinnelige sted. Når svømmeren prøvde å nærme seg elva-banken igjen, gjorde den stående personen det samme som før Rasul Allah s Messenger S spurte hvem som er denne mannen i elven En av e engler sa han er en rektor bukhari al-Arafah Islami Bank Limited ÅRSRAPPORT 2011 05 ÅRSRAPPORT 2011 Ytringsfrihet fra andre religioner og store menn av interesse l Interessen er forbudt i de to bøkene av Hazrat Musa A, som regnes som skriften av jøder Den 22. utgaven av Exodus sier: Hvis du låner penger til en fattig mann, blir du ikke penger långivere og ikke innse interessen fra ham. l På samme måte i 23. linje av det gamle skriften av jødene, som heter Deuteronomy, sier du ikke låne penger til broren din for interesse - interesse for penger, interesse for mat og interesse for noe lånt l hebrewisme er kjent som musaisk eller jødisk Musaiske lover eller kommandoer av musa er grunnlaget for hebraiskisme interesse var helt forbudt i musaisk lov Denne regelen var utelukkende praktisert av jødene I denne ideologien er det klare retninger på interesse som andre aspekter av økonomi. I hinduismen var det en begrenset virksomhet innen Baithaya. En jøde kunne ikke interessere seg for låne penger fra en annen Men å ta interesse var i praksis ved å låne penger til folk fra andre religioner. l Noen forfattere sitert fra boken Talmud at de hebraiske profetene forbød interesse ikke bare fra jøder, men fra alle Eric Roll, en historie med økonomisk tanke side 48 l Interesse var forbudt fra kristendommenes begynnelse til reformrørelsen og fra kirken under pave i Roma til divisjonen av andre kirker, sa Kristus, Lend hopping for ingenting igjen Luke VI 35, Hanley History of Economic Tanke 1964, Page 101 06 Al-Arafah Islami Bank Limited Styreformann Badiur Rahman Formann Sarker Mohammad Shameem Iqbal Viseformann Styreleder Alhajj Md Harun-ar-Rashid Khan Alhajj Nazmul Ahsan Khaled Alhajj Abdul Malek Mollah Hafez Alhajj Md Enayet Ullah Alhajj Abdul Moktadir Alhajj Ahamedul Haque Alhajj Abdus Samad Alhajj Engr Kh Mesbahuddin Ahmed Alhajj Abu Naser Mohammad Yeahea Alhajj Abdus Salam Alhajj Niaz Ahmed Md Ashik Hossain Md R Afiqul Islam Mohammed Emadur Rahman Anwar Hossain Dr Momtaz Uddin Ahmed Brig Gen MA Malek Retd Ex Officio Direktør Ekramul Hoque Administrerende direktør Selskapssekretær Md Mofazzal Hossain Viseadministrerende direktør Al-Arafah Islami Bank Limited ÅRSRAPPORT 2011 07 ÅRSRAPPORT 2011 Daglig leder Alhajj Abdus Samad Formann Alhajj Abdul Malek Mollah Næstformann Medlem Alhajj Md Harun-ar-Rashid Khan Alhajj Md Nazmul Ahsan Khaled Alhajj Hafez Md Enayetullah Alhajj Ahmedul Haque Alhajj Abu Naser Mohammad Yeahea Revisjonskomité Sarker Mohammad Shameem Iqbal Formann Medlem Alhajj Abdus Salam Alhajj Niaz Ahmed Md Ashik Hossain Dr Momtaz Uddin Ahmed Shariah Overvåkningsutvalg Mufti Abdur Rahman Formann Medlem Mufti Ruhul Ameen Mawlana Abdul Basit Barkatpuri Mufti Muinul Islam Alhajj AZM Shamsul Alam Badiur Rahman Sekretær Md Abdur Rahim Khan 08 Al-Arafah Islami Bank Limited Administrerende direktør Ekramul Hoque Management Team Viseadministrerende direktør Md Rafiqul Islam Md Mofazzal Hoss ain Khondoker Nayeemul Kabir Executive Vice President Md Mominul Haque Bhuiyan Md Fazlul Karim Muhammed Nadim ACA Md Mahmoodul Haque Senior Vice President Syed Masodul Bari Md Nazmus Saadat Borhanuddin Ahmed Chowdhury M Atiqur Rahman Manir Ahmad Md Abdur Rahim Duary Md Zakir Hossain Md Zakir Anam Al-Arafah Islami Bank Limited ÅRSRAPPORT 2011 09 ÅRSRAPPORT 2011 Vice President ANM Mofidul Islam Md Abul Hossain Md Manjur Hasan Md Badruzzaman Bhuiyan Md Abul Quassem Md Fazlur Rahman Ashrafi Md Aminul Islam Bhy Engr Md Habib Ullah Md Showkat Islam Md Abdullah Al-Mamun AKM Amzad Hossain Abed Ahmed Khan Md Abduz Zaher Md Jafar Ullah ATM Mostafizur Rahman Mohd Yahya Kazi Md Selim Iqbal Hossain Ahmed Md Harunoor Rashid Md Mujibur Rahman Md Idris Ali Mohammad Golam Kibria Aktar Kamal Md Mazharul Islam Md Obaydul Islam Md Abdur Rahim Sarder Mohammed Hossain Md Mujahid Khalid Md Azharul Islam Md Mosharof Hossain CGM Asaduzzaman Moho, Javed Tarek Khan Md Tarlqul Amin Md Emarat Hossain Khan Monir Ahammad Md Hedayeatul Islam AKM Sazzad Hossain Md Zahidul Islam SM Abu Jafar Md Mostafizur Rahman Md Zaklr Hossain Bhuiya Md Abul Kalam Md Rajibul Islam Bhuiyan Moho, Ziaul Karim Chow Mollah Khalilur Rahman Md Miran Shah Chowdhury Md Mainul Islam Md Jahangir Alam Md Asaduzzaman Khan Md Nazmul Huda Kamal Hossain Management Team 10 Al-Arafah Islami Bank Limited Assisterende visepresident M Anisur Rahman Md Asaduzzaman Bhuiyan Md Mizanur Rahman Munshi Amanul Haque Majibur Rahman Md Nizamul Hoque Chy Md Sultan Mahmud Md Golam Sarwar SM Kowsar Md Abul Basher Vision, Mission To erklære utbytte for året 2011 Å utpeke selskapets revisorer for perioden til neste ordinære generalforsamling og å fastsette sine godtgjørelser For å velge gjenvalgte direktører For å gjennomføre annen virksomhet med tillatelse fra stolen Alle de ærlige aksjonærene i selskapet blir bedt om å gjøre det praktisk å delta på møtet i tide På styrets vegne, Md Mofazzal Hossain DMD 2 A medlem som er kvalifisert til å delta og stemme på generalforsamlingen Generalforsamlingen kan utnevne en fullmektig til å delta og stemme på hans vegne Proxy Form behørig stemplet må sendes til aksjeavdelingen, Rahman Mansion 1st Floor, 161 Motijheel CA, Dhaka-1000 ikke senere enn 48 timer før møtet holdes. 3 Aksjeeierne, som er interessert i å stille spørsmål, blir bedt om å sende det samme til Delegasjonen, Rahman Mansion 1st Floor, 161 Motijheel CA, Dhaka-1000, før 7 syv dager av Generalforsamling 4 Deltakelse av medlemmene Aksjonærer Advokatfullmektig s vil bli registrert frem til 10:30 på Registreringstelleren på møteløpet. 5 Valgregler og tidsplan til dette vil være tilgjengelig på bankens aksjeavdeling, Rahman Mansion 1st Floor, 161 Motijheel CA, Dhaka-1000 14 Al-Arafah Islami Bank Limited 5 år Finansielle høydepunkter Particulars Inntektsføring Investering Inntekt Gevinst betalt på innskudd Netto Investering Inntekt Ikke-investering Inntekt Ikke-investering Expe nses Netto ikke-investeringsinntektsresultat før skatt håper vi at vi vil gi islamsk VISA International og lokalt kort hos våre kunder svært snart. Som en forsiktig måling av balansert vekst og oppnå en meningsfylt diversifisering har banken understreket sitt fokus på små og mellomstore kredittfinansiering samt kapitalmarkedstjenester som vi håper å utvide i bredere områder i nær fremtid Banking er i stadig endring og blir like utfordrende spesielt med hensyn til shariabasert bankvirksomhet For å møte utfordringene i tiden fokuserer vi vår menneskelige ressursutvikling ved å sette profesjonell HR politikk og praksis på plass Våre prestasjoner så langt ville ikke vært mulig uten at våre verdsatte kunder og aksjonærer, dedikert og oppriktig innsats av våre ansatte, tillit og selvtillit ble reist på oss, og derfor uttrykker jeg hjertelig takknemlighet til våre entusiastiske aksjonærer for deres støtte Ser frem til å sikre høyeste kundepleie, Shariah compliance og mainta innkjøp av konkurransedyktig pris vil være fremdriften i fremtiden Jeg tror at gevinsten de siste årene vil være medvirkende til overordnet posisjonering av banken i fremtiden. Vår strategi vil legge til våre styrker ved å fokusere på områder hvor vi har en fordel i dag og hvor vi kan vokse raskere enn våre konkurrenter i de kommende dagene Vi tror vi vil fortsette å imponere på deg ved å oppnå våre mål for året 2012 Må Allah hjelpe oss Ma-assalam Med vennlig hilsen Ekramul Hoque Administrerende direktør Dato 20. mai 2012 Al-Arafah Islami Bank Begrenset 23 ÅRSRAPPORT 2011 ÅRSRAPPORT 2011 Styrets beretning Bismillahir Rahmanir Rahim, All ros være den Allmektige Allah, Allhelgensherre og Allahs velsignelser være på profeten Mohammad SM og hans etterkommere mer enn 0 25 prosentpoeng høyere enn anslått i april 2011-prognosen Inflasjon er videre forventet å akselerere i både utviklede og fremvoksende land til henholdsvis 2 6 prosent og 7 5 prosent i 2011 1 6 prosent en d 6 1 prosent året før, hovedsakelig på grunn av større enn forventede prisvekstpriser. Kjerneinflasjonen, det vil si utenom mat og brensel, skjedde også opp i en rekke økonomier, og forblev relativt uendret i USA og Japan og økte moderat i euroområdet Blant fremvoksende og utviklingsøkonomier har inflasjonstrykket blitt stadig bredere basert på akselerert etterspørselssidetrykk som gjenspeiler en høyere andel mat og drivstoff i forbruket. Økonomi i Bangladesh utførte relativt bra i FY11, med en BNP-vekst på 6 7 prosent som er godt overkant av prognoser fra multilaterale giverbyråer og noen lokale forskningsorganer. Landbrukssektoren viste god vekst og produksjon i industrisektoren også, ble stadig bedre, selv om investeringsveksten fortsatt var under potensialet på grunn av flaskehalser i fysisk infrastruktur og Den vedvarende krisen i kraft og energisektorer Mens det er stro Ng offisielle forpliktelser og innsats for å finne løsninger på disse problemene, vil den faktiske økningen i økonomiomfattende investeringer, inkludert FDI, avhenge av 24 Al-Arafah Islami Bank Limited hvor raskt og effektivt regjeringen vil lette problemene med kraft - og energisektorer. Å nå målrettet 7 prosent BNP-vekst i år og 8 0 prosent i de neste regnskapsårene vil gjelde for regjeringens suksess på dette området Strukturelle endringer i økonomien Med hensyn til amerikanske dollar økte verdien av BNP i dagens priser med 10 2 prosent til USA 110.588 millioner i FY11 fra USA 100.336 millioner i forrige år BNP per capita stod på US 755 i FY11 sammenlignet med US 684 i FY10, og viser en økning på 10 4 prosent sammenlignet med 10 3 prosent økning i forrige år Målt av utviklingen i KPI var inflasjonen 8 8 prosent i FY11 sammenlignet med 7 3 prosent i FY10 Økningen i prisene målt ved BNP-deflatoren var 6 3 prosent i FY11 sammenlignet med 6 5 prosent i FY10 The Taka avskrives med 2 8 prosent i FY11 sammenlignet med 0 5 prosent avskrivninger i FY10 Industri Andelen av industrisektoren i landets BNP økte med 0 4 prosentpoeng til 30 3 prosent i FY11 mot 29 9 prosent i FY10 Bransjesektoren s Estimert vekstraten var opp 1 7 prosent til 8 2 prosent i FY11 fra 6 5 prosent i FY10 Innenfor den brede industrisektoren ble ytelsen til ulike delsektorer blandet. Produksjonsindustrien, inkludert stor, middels og liten kategori, viste spesielt høyere vekst på 9 5 prosent i FY11, sammenlignet med 6 5 prosent i FY10 Utviklingen av bygg-, bolig - og vannsektorer økte også mens gruve-, el - og gass-delsektorer forsvant bak Landbruk Jordbrukssektoren registrerte 5 0 prosent vekst i FY11 sammenlignet med 5 2 prosent i FY10 Innenfor det gikk fiske - og husdyrsektorer enda bedre, noe som skildrer høyere vekst enn forrige finanspolitikk. Sektoren bidrar med 20 prosent til e lands BNP og sysselsetter rundt 48 prosent av den samlede arbeidsstyrken. Det bidrar også betydelig til landets eksportinntekter. I FY11 hentet sektoren USA 2 44 milliarder kroner eksport, noe som var nesten 10 7 prosent av landets totale eksport Jordbrukssektoren gir denne mye trengte mat - og ernæringsmessige sikkerheten og spiller en stor rolle i inntektsgenerering og fattigdomsreduksjon. Landets produksjonsmål for FY11 ble satt til 35 7 millioner tonn mmt, bestående av aus 2 7 mmt, aman 13 2 mmt, bor 18 7 mmt og hvete 1 1 mmt BBS har anslått produksjon av aus, aman og hvete på 2 13 mm, 12 79 mm og 0 97 mm. For så vidt angår boreavlingen er det foreløpige anslaget på produksjonen very close to the annual target It is expected that total foodgrain production in FY11 would be 34 6 mmt, 4 2 percent higher than last year s actual production of 33 2 mmt The target of foodgrain import in FY11 was set at 5 5 mmt, as against the actual import o f 3 5 mmt in FY10 However, a total of 5 39 mmt of foodgrain was imported during FY11, of which 1 59 mmt was rice and 3 80 mmt was wheat Total import of rice and wheat in the previous fiscal year was 0 1 mmt and 3 4 mmt, respectively The opening public stock of foodgrain for FY11 as on 1 July, 2010 was 0 52 mmt, which was about half of the opening stock of FY10 1 05 mmt As of June 30, 2011, the stock stood at 0 88 mmt, of which 0 57 mmt was for rice and 0 31 mmt for wheat, according to the Directorate General of Food Services The growth rate of the services sector rose mildly to 6 6 percent in FY11 from 6 5 percent in FY10 but its share in the GDP stood at a slightly lower level, by 0 1 percentage points, at 49 7 percent in FY11 from 49 8 percent in FY10 Most service sector activities such as hospitals, IT services, travel agencies, education, social work, public administration achieving goal of eradicating extreme poverty and women empowerment SME development is currently considered as one of the major pro-poor socioeconomic development policy Fulfilling the growing domestic demand with local resources and products is critical to economic growth SMEs are playing a vital role in meeting domestic demand in our country To ensure proper manifestation and rapid advancement of Small which was 1,711 at the end of the last year Training Investment Credit Risk, Foreign Exchange Risk, Money Laundering Risk, Asset Liability Management Risk, Internal Control we hope that we will provide Islamic VISA International and local card among our customers very soon Green Banking More recently environmental degradation effects are becoming more and more obvious in form of range of environmental issues affecting the planet 44 Al-Arafah Islami Bank Limited Sustainable development has emerged as a new paradigm of development in response to the current discourse of development that over-exploits natural environment for economic prosperity One of the major economic agents influencing overall industrial activity and economic growth is the financial institution such as banking sector In a globalize economy, the industries and firms are vulnerable to stringent environmental policies, severe law suits or consumer boycotts Since banking sector is one of the major stakeholders in the industrial sector, it can find itself faced with credit risk and liability risks Further, environmental impact might affect the quality of assets and also rate of return of banks in long run Thus the banks should go green and play pro-active role to take environmental and ecological aspects as part of their lending principle, which would drive industries to go for mandated investment for environmental management, use of appropriate technologies and management systems Banks are not polluters themselves but in house maintenance such as, controlled consumption of water, electricity, paperless banking etc and online services to clients will help to reduce pollution Al-Arafah Islami Bank Ltd being ethic al Bank and in compliance to Bangladesh bank guidelines has formed Green Banking Cell, headed by a Senior Executive and supervised by Board Audit Committee The Bank has taken the following initiative a Green Banking Policy adopted b Inhouse activities l l Appointment of Statutory Auditor In the16th Annual General Meeting of the Bank M S Masih Muhith Haque in our opinion, proper books of account as required by law were kept by the Bank so far as it appeared from our examination of those books and proper returns adequate for the purpose of our audit have been received from branches not visited by us the records and statements submitted by the branches have been properly maintained and consolidated in the financial statements ii iii iv the Balance Sheet and Profit and Loss Account dealt with by this report are in agreement with the books of account and returns v the financial statements have been drawn up in conformity with the Bank Companies Act 1991 and in accordance with the accounting rules and regulations issued by the Bangladesh Bank, and the financial statements conform to the prescribed standards set in the accounting regulations issued by Bangladesh Bank after consultation with the professional accounting bodies of Bangladesh as per BRPD circular 15 dated 09 November 2009 vi the financial position of the Bank at 31 December 2011 and the profit for the year then ended have been properly reflected in the financial statements and the financial statements have been prepared in accordance with Bangladesh Financial Reporting Standards vii adequate provisions, in material respects, have been made for advances, investments and other assets which are in our opinion doubtful of recovery viii the expenditures incurred during the year were for the purposes of the business of the Bank ix the information and explanations required by us have been received and found satisfactory and x 80 of the risk-weighted assets have been reviewed spending over 4,500 man-hours ACNABIN Char tered Accountants Place Dhaka Date 19 April 2012 MASIH MUHITH HAQUE ii Investments are on the basis of their respective maturity iii Fixed assets are on the basis of their useful lives iv Other assets are on the basis of their realization amortization v Borrowing from other Banks, financial institutions and agents, etc are as per their maturity repayment terms vi Provisions and other liabilities are on the basis of their repayment adjustments schedule Al-Arafah Islami Bank Limited ANNUAL REPORT 2011 71 ANNUAL REPORT 2011 Notes to the Financial Statements for the Year Ended 31 December 2011 B Use of estimate and judgment The preparation of financial statement requires the bank to make certain estimates and to form judgment about the application of accounting policies which may affect the reported amount of assets, liabilities, income and expenses The most significant areas of estimates and judgments have been made on provision for Investments and investments C Reporting period The finan cial statements cover one calendar year from 1 January to 31 December 2011 D Offsetting Financial assets and financial liabilities are offset and the net amount reported in the balance sheet when there is a legally enforceable right to offset the recognised amounts and there is an intention to settle on a net basis, or realise the asset and settle the liability simultaneously E i Assets and basis of their valuation Cash and cash equivalents Cash and cash equivalents include notes and coins on hand, unrestricted balances held with Bangladesh Bank including Bangladesh Government Islamic Invesment Bond and Sonali Bank and other highly liquid financial assets used by the Bank Management for its short-term commitments ii Investments Investments are stated in the Balance Sheet net of profit receivable mark-up profit Investment write-off Investment are normally written off, when there is no realistic prospect of recovery of these amounts in accordance with BRPD Circular No 2 13 January 2003 A separate Investment Administration and Recovery Department IARD has been set up at the Head Office, which monitors investment written off and legal action through the Money Court These write-offs do not undermine or affect the amount Claimed against the borrower by the bank The Investment Administration and Recovery Department IARD maintains a separate ledger for all individual cases written off by each branch The IARD follow-up on the recovery efforts of these written off investment and reports to management on a periodic basis Written off investment are reported to the Credit Information Bureau CIB of Bangladesh Bank iii a Investment in shares and securities All investment in shares are revalued at the year end Unquoted shares are valued based on book value of the most recent audited financial statement Provisions are made for any loss arising from diminution in value of investments iii b Investment in subsidiaries The bank has made investment in subsidiary company AIBL Capital Mark et Service Ltd Tk 207 00 crore holding 51 75 shares The rest of 48 25 shares hold by others iv Fixed assets and depreciation a All fixed assets are stated at cost revalued amount less accumulated depreciation and accumulated impairment loss Land was revalued by a professional valuer on the basis of market value on 31st December 2004 The valuer was independent of the company The property is located within Dist Dhaka, P S Motijheel, Sub - registry office Sutrapur, Dhaka collectorate Touzi 141-B-1, Mouza Sabek Shahar Dhaka, Sheet 22, Ward 03, Sabek Khatian 6947, 6947 KA , 6947 Jha , Sabek Dag 97, 100,101,102 and 110, SA Mouza Ramna, Sheet 10, SA Khatian 362, SA Dag 1979,1980,1981,2025,1997,1998 and 1979 2039, RS Mouza Motijheel, RS Khatian 420, RS Dag 1314 and 1322, D P Khatian 619, D P Dag 812 and 804 The area of land measuring about 27 10 decimal, Mutation Khatian 362 3 and Dag 1979 and 1980 The land was revalued at Tk 5,000,000 per decimal The cost of which was Tk 2,116,116 per decimal The Bank accounted for 90 of book value of revaluation Total capital gains amounting Tk 64,603,249 72 Al-Arafah Islami Bank Limited Notes to the Financial Statements for the Year Ended 31 December 2011 b Depreciation on fixed assets is charged using the rates and methods as mentioned below for the days of use No depreciation has been charged in the year of addition Assets Furniture and Fixture Wood, Steel Motor Car Mechanical Appliances Books Computer Computer Accessories Online Hardware Online Software Building Method of depreciation Reducing balance Straight-line Reducing balance Reducing balance Straight-line Straight-line Straight-line Straight-line Straight-line Percentage 10 20 15 20 20 20 20 20 2 5 c Maintenance and repair costs are charged to Profit and Loss Account as and when incurred v Other assets Other assets include all balance sheet accounts not covered specifically in other areas of the supervisory activity and such accounts may be quite insignificant in the overall fin ancial condition of the Bank vi Non-banking assets There are no assets acquired in exchange for classified investments during the period of financial statements vii Reconciliation of inter bank branch books of accounts Books of accounts in regard to Inter-branches are reconciled and there are no material differences, which may affect the financial statements significantly Unrecognized entries in case of inter-branch transactions as on the reporting date are not mentionable due to the time gap before finalizing the same Note -14 7 F Share Capital Ordinary shares are classified as equity, when there is no contractual obligation to transfer cash or other financial assets G Statutory reserve Bank Companies Act, 1991 requires the Bank to transfer 20 of its current year s profit before tax to reserve until such reserve along with share premium equals to its paid up capital H Revaluation reserve When an asset s carrying amount is increased as a result of revaluation, the surplus amount should be credited directly to equity under the heading of revaluation surplus reserve as per BAS-16 Property, Plant and Equipment The Bank revalued its land in December 2004 which is absolutely owned by the Bank and the surplus amount transferred to revaluation reserve Annexure-A I Basis for valuation of liabilities and provisions i Provisions on Investment a Provision for Investment are made on the basis of year end review by the management and instructions contained in Bangladesh Bank BRPD Circular No 05 dated 05 June 2006 ii Investment considered good against which the banking company holds no security other then the debtors personal guarantee iii Investment considered good secured by the personal undertaking of one or more perties in addition to the personal guarantee of the debtors iv Investment adversely classified provision not maintained thereagainst v Investment due by directors or officers of the Banking company or any of these either separately or Jointly with any other persons v i Investment due from companies or firms in which the directors of the banking company have interests as directors, partners or managing or in the case of private companies as members vii Maximum total amount of Investments including temporary Investments made at any time during the year to directors or managers or officers of the banking companies or any of them either agents severally or jointly with any other persons viii Maximum total amount of Investment including temporary Investment granted during the year to the companies or firms in which the directors of the banking company have interests as directors, partners or managing agents or in the case of private companies as members ix Due from banking companies x Amount of Clssified Investment on which profit has not been charge, are mentioned as follows a An amount of Bad Investment on which profit has not been charged i Decrease Increase in provision Specific ii Amount of Investment written off iii Amount realised against Investm ent previously written off b Amount of provision kept against Investment classified as bad loss on the date of preparing the balance sheet c Profit creditable to the profit suspense Compensation A c d Cumulative amount of the written of Investment e Amount written off during the current year f The amount of written off Investment for which lawsuit has been field h General Investment AIBL Capital Market Services Ltd Less Inter company Adjustment i Maturity grouping of Investment Including bills purchased and discounted Payable on Demand Up to 1 one month Over 1 one month but not more than 3 three months Over 3 three months but not more than 1 one year Over 1 year but not more than 5 years Over 5 years - - - - 390,780,000 109,730,579 57,475,428 47,157,720 305,935,000 20,030,964 631,481,654 57,475,428 631,481,654 64,859,099,786 5,986,901,675 70,846,001,461 1,705,755,505 69,140,245,957 5,004,258,799 8,014,217,842 23,749,335,437 25,328,865,527 11,337,133,222 73,433,810,827 503,813,045 39,3 25,000 65,500,619 23,282,877 137,578,000 8,565,286 621,163,946 65,500,619 621,163,946 47,153,317,226 47,153,317,226 47,153,317,226 3,501,937,219 4,508,563,042 18,743,637,437 16,826,300,637 10,002,522,388 53,582,960,723 Al-Arafah Islami Bank Limited ANNUAL REPORT 2011 87 ANNUAL REPORT 2011 Notes to the Financial Statements for the Year Ended 31 December 2011 2011 Taka 9 A Investments Al-Arafah Islami Bank Ltd AIBL Capital Market Services Ltd Less Inter company Adjustment 9 A i Maturity grouping of Investment Including bills purchased and discounted Payable on Demand Up to 1 one month Over 1 one month but not more than 3 three months Over 3 three months but not more than 1 one year Over 1 year but not more than 5 years Over 5 years 10 Fixed Assets Land Building Furniture Wood Furniture Steel Computer Computer Accossories Motor Car Machine equipment Stationery, Stamps, Printing materials etc Advance rent and advertisement Profit accrued on Investment but not collected, commision and as ad vised by Bangladesh Bank from time to time In addition to the above mentioned objective criteria, loans can be classified on the basis of subjective judgment taking into consideration the factors such as uncertainty or doubt of repayment, continuous loss of capital, adverse situation, decrease of value of securities, legal suit etc However, Bangladesh Bank can classify any claim on the basis of their subjective judgment as well as can ask the Bank to buildup additional provision on non-performing loans 20 50 100 Figures in crore taka 876 59 23 74 68 36 968 69 13 47 12 31 11 40 10 21 110 Al-Arafah Islami Bank Limited Credit Risk Management Policy The bank has established Credit Risk Management framework as directed by Bangladesh Bank through introduction or Risk Management CRM policy guide along with implementation of the Credit Risk Grading CRG This framework defines CRM structure, role, responsibilities and the processes to identify, quantify, and manage risk within the framework unde r the given policy CRM policy is reviewed from time to time for adoption of new techniques policies for measurement and management of risk in line with the socioeconomic scenario and investment environment of the country Quantitative Disclosures a Funded General Investment i In Bangladesh Murabaha Investment Bai-Muajjal Investment Hire Purchase Investment Pre shipment Investment Quard Sub Total ii Out side Bangladesh Total Less Unearned Profit on Investment Bill Purchased The focus of operational risk is on low probability high loss vs high probability low loss events Performance Gap of Executives and Staffs The bank offers competitive pay package to its employees based on performance and merit It always tries to develop corporate culture where employees can exert their highest involvement and commitment to work and organization with high ethical standards in order to build a congenial atmosphere Policies and processes for mitigating operational risk The Bank has adopted policies which deal with managing different operational risk Internal control and compliance-division in conjunction with the Risk Management Unit RMU has been performing the supervisory and monitoring, works to manage operational risk Approach for calculating capital charge for operational risk The Bank has adopted Basic Indicator Approach BIA to compute capital charge against operational risk under Basel - II as per Bangladesh Bank Guidelines Quantitative Disclosures Figures in crore taka b The capital requirements for operational risk Calculation of Capital Charge for Operational Risk Basic Indicator Approach Year December 2009 December 2010 December 2011 Total GI Gross Income GI 269 35 510 82 586 97 1,367 14 Average GI 455 71 15 of Average GI 68 36 Figures in crore taka 2 86 20 89 23 74 68 36 Al-Arafah Islami Bank Limited 115 ANNUAL REPORT 2011 Auditors Report on the Financial Statements of AIBL Capital Market Services Limited For the period ended D e c e m b e r 3 1 2 0 11 AUDITORS REPORT We hav e audited the accompanying Financial Statements of AIBL Capital Market Services Ltd, which comprise the Statement of Financial Position as at 31 December 2011 and the Statement of Comprehensive Income, Statement of Changes in Equity and Statement of Cash Flows for the year then ended, and a summary of significant accounting policies and other explanatory information Management s responsibility for the financial statements Management is responsible for the preparation of financial statements that give a true and fair view in accordance with Bangladesh Financial Reporting Standards BFRSs and for such internal control as management determines is necessary to enable the preparation of financial statements that are free from material misstatements, whether due to fraud or error Auditor s responsibility Our responsibility is to express an opinion on these Financial Statements based on our audit We conducted our audit in accordance with Bangladesh Standards on Auditing BSAs Those standards re quire that we comply with relevant ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements The procedures selected depend on the auditor s judgment, including the assessment of the risk of material misstatement of the financial statements, whether due to fraud or error In making those risk assessments, we consider internal control relevant to the entity s preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity s internal control An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by management, as well as evaluating the overall presentation of the financial statements We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our qualified audit opinion Basis for Qualified Opinion 1 On verification of Margin loans aggregating to Taka 5,986,901,675 we observed that there exists a large number of clients which are nonperforming and did not have any transactions for long time and in some cases more than one year and above We also observed that the company recognized profit for an aggregate amount of Taka 93,847,895 against such non performing margin loans of Taka 604,993,566 and debited to respective margin loan accounts without any recovery As a result income and outstanding balance of margin loan is inflated with unrealized profit and fictitious cash inflow has also been shown under operating activities of statement of cash flows of the annexed financial statements As per SEC Directive SEC CMRRCD 2009-193 92 dated January 10, 2011, it is mentioned that credit facilities for the approved clients may be extend up to 2 two times of clients margin clients deposit i e credit facilities shall be on 1 2 basis under the Margin Rules, 1999 but during our verification of the information provided by the company we observed that 938 clients out of 5,674 clients have crossed the above limit as per market scenario on balance Sheet date We did not get complete data backup for data analysis and system check of the software We have received a customized data backup where exceptional records could not be traced from the following tables of the database 1 Tledgeredit 2 TRRedit 3 Tshedit 4 Tpreledger Thus we could not check the records of the above tables by restoring Year-End 2011 data or any data before January 25, 2012 2 3 Al-Arafah Islami Bank Limited 117 ANNUAL REPORT 2011 ANNUAL REPORT 2011 4 The software used by the company is not compliant in a few of areas compare to the guideline provided by Dhaka Stock Exchange Ltd DSE and yet to be upgraded to meet the functionalities like Multiple Depository Support, Separate Module for Merchant Banking Operation, Integrated Web Based Platform for Flexibility and Manageability, Data Integrity and Security where currently vendor is also holding administrative privilege which is not acceptable, User Define Charges which is also dependable on vendor right now, Employee Information H R Module, Disaster Recovery Site DRS and daily data backup preservation procedure, Internet Service, SMS Service etc and chart of accounts as prescribed by DSE In this connection the memo issued by Security Exchange commission vide number DSC Member 2011 uniform 2413 dated March 03, 2011 may be reviewed Qualified Opinion In our opinion, except for the effects of the matter described in the Basis for Qualified Opinion paragraph, the annexed financial statements present fairly in all material respect the financial position of AIBL Capital Market Services Ltd as at 31 December 2011, and of its financial performance and its cash flows for the year then ended in accordance with Bangladesh Financial Reporting Standards BFRSs We also report that a we have obtained all the information and explanations which to the best of our knowledge and belief were necessary for the purposes of our audit and made due verification thereof except for access to system software used to prepare update the uniform reporting format in our opinion, proper books of account as required by law have been kept by the company so far as it appeared from our examination of those books the Statement of Financial Position and Statement of Comprehensive Income dealt with the report are in agreement with the books of accounts and returns b c the expenditure incurred and payments made were for the purpose of the Company s business for the period Howladar Yunus According for investment adequate provision has been made considering each individual investment where cost is lass than market price Unrealized gain or loss is not recognized in the profit Loss accounts C Further Provision for listed Securities Investment has been recorded at cost and adequate provision for probable further losses as per Bangladesh Bank guideline has been made Market value of securities has Al-Arafah Islami Bank Limited 123 ANNUAL REPORT 2011 ANNUAL REPORT 2011 been determined on the basis of the value of securities at the last trading date of the year last trading date 29 December 2011 d Margin Investment AIBL capital market service Ltd extended margin loan to the portfolio investor as at an agreed ratio between investor deposit and loan amount of purchases securities against the respective investor account the investor are to maintain the margin as per set rules regulation The margin is monitor on dally basis as it changes due to change in market price of share If the margin falls below the minimum requirement, the investor are required to deposit additional fund to maintain the margin as per rules other wises the securities are sold to b ring the margin to the required level e Revenue Recognition I Income from margin loan Income from margin loan is recognized on accrual basis such income is calculated considering daily margin loan balance of respected such as is calculated considering daily margin loan balance of the respective parties Income is recognized on quarterly rest II Income from gain on sale of securities Capital gain or loss on disposal of security listed in the stock exchange is recorded on realized basis I e only when the securities are sold in the market Unrealized capital gain or loss are not accounted for in the Profit Loss Accountants F Event after balance sheet dated BAS 10 Events after the reporting period, dividend declared after the reporting period should not be classified as a liability at the reporting period as the proposed dividend does not represent an Obligation under BAS 37 Provision, Contingent Liabilities and Contingent Assets g Cash Cash equivalent Cash and cash equivalent includes cash in hand, cash at bank and fixed deposits which are held and are available for use by the company without any restriction There is insignificant risk of change in the value of the above items h Provision of TAX Provision for income tax has been calculated on the income other than brokerage commission The Company s trading income is subject to deduction of tax at source which is treated as final discharge from tax liability under Income Tax Ordinance 1984 i Provision on expenses Provision for expenses is recognized when the company has a present obligation as a result of a Past event and it is probable that an outflow of resources embodying economic benefit will be required to settle the obligations and reliable estimate of the amount can be measured j Fixed assets and depreciation Fixed Assets are stated at cost less accumulated depreciation Depreciation is charged on the cost of fixed assets in order to write off such amounts over The Estimated useful lives, using the straight-line met hod in accordance with BAS 16 Depreciation for Full month is charged on additions irrespective of date when the related assets are put into use and no depreciation is charged for the month of disposal and addition during the year The rates of depreciation used to write off the Amount of assets are as follows Interior Decoration Computer Accessories Online Software Online Hardware Motor Car Furniture Fixture - Steel Office Equipment 10 20 20 20 20 10 20 k Reporting Currency and Level of Precision The figures in the financial statements represent Bangladesh Currency Taka , which have been rounded-off to the nearest Taka 124 Al-Arafah Islami Bank Limited Particulars 4 00 Fixed Assets Interior Decoration Computer accessories Online Software Online Hardware Motor Car Furniture fixture steel Machine equipment Computer Furniture fixture wood 5 00 Account Receivable Al - Arafah Islami Bank Limited Receivable from DSE Receivable from CSE Investment Deler A C Dividend Receivable 6 00 Investments Account Receivable from Al - Arafah Islami Bank Limited Margin Investment Investment to Dealer A C 6 01 31 12 2011 Taka 6,666,485 972,903 315,425 2,505,350 12,910,240 141,363 6,383,245 3,319,085 2,412,440 35,626,536 6,508,050 5,483,597 936 276,000 12,268,583 5,986,901,675 142,907,172 6,129,808,847 31 12 2010 Taka 7,020,265 967,952 210,082 1,039,743 16,137,800 148,848 6,509,113 3,430,045 2,154,310 37,618,158 56,281,865 56,281,865 3,095,364,029 3,095,364,029 6 01 Portfolio of investment to dealar A C As at 29 December 2011 Instrument Bsrmsteel Fareastlif Firsts Bank GP Islami Bank Islamiins Jamunaoil Mjlbd Shahja Bank SIBL SQUARETEXT Titasgas Total No of Share 274,500 74,450 50,000 6,800 289,500 66,000 68,900 310,500 127,350 535,750 12,800 81,500 Cost price 32,318,642 15,466,327 1,404,227 1,088,992 15,742,766 3,454,973 13,501,312 33,293,004 4,313,159 14,204,345 2,038,916 6,080,510 142,907,173 Market price 32,583,150 12,060,900 1,315,000 1,111,800 15,777,750 2,910,600 12,346,880 31,018,9 50 4,138,875 14,036,650 1,455,360 5,509,400 134,265,315 At 31 December 2011, Tk 8,640,846 was a gross unrealized loss on investment in listed security This loss was recognized as income in the Financial statement and realized capital gain loss was Tk 1,336,967 The said amount was Taka 140,798,234 was deposit into the Dealer account at 1st January 2011 Al-Arafah Islami Bank Limited 125 ANNUAL REPORT 2011 ANNUAL REPORT 2011 Particulars 7 00 Membership cost Membership of DSE Membership of CSE 8 00 Advance, Deposit Prepayments Advance against for Office Space at Nikunja, Dhaka Advance against for Office Space at Gulsan, Dhaka Advance against for Office Space at Amborkhana Sylhet Advance against for Interior Decoration at Sylhet Advance withdraw from Suspense A C 9 00 Cash and Bank Balance Al-Arafah Islami Bank Limited 9 01 Shajalal Islami Bank LimitedIBL 31 12 2011 Taka 525,000,000 175,000,000 700,000,000 100,000 5,903,000 1,000,000 800,000 42,740 7,845,740 260,206,675 5,000 260,211,675 31 12 2010 Taka 525,000,000 175,000,000 700,000,000 100,000 100,000 210,394,698 210,394,698 9 01 Balance at Bank Al-Arafah Islami Bank Limited Motijheel Al-Arafah Islami Bank Limited Motijheel Al-Arafah Islami Bank Limited Motijheel Al-Arafah Islami Bank Limited Motijheel Al-Arafah Islami Bank Limited Uttara Al-Arafah Islami Bank Limited AmborKhana Al-Arafah Islami Bank Limited Khulna Br 290,522 176,966,185 5,360,437 36,351,531 238,000 30,500,000 10,500,000 260,206,675 - 10 0 Advance Income tax Tax deducted at source DSE Tax deducted at source CSE Tax deducted at source Bank Tax paid 2011 through challan Tax paid 2010 through chalan 26,674,368 900,032 7,565,582 84,375,000 20,146,476 139,661,458 641,009 641,009 11 00 11 01 Share Capital Authorised Capital The authorised Capital of the Company is 100,00,00,000 Ordinary Share of TK 10 each 10,000,000,000 10,000,000,000 11 02 Issued, Subscribed and fully Paid-up Capital Issued, Subscribed and fully Paid-up Capital is 40,00,00,000 share of TK 10 each 4,000,000,000 4,000,000,000 126 Al-Arafah Islami Bank Limited Particulars 11 03 Share Holding Position Name of the Share Holder Al-Arafah Islami Bank Limited Badiur Rahman KYCR Coils Industries Ltd AI - haj Md Harun-ar-Rashid Khan Al-haj Hafez Md Enayetullah Alhaj Abdul Malek Mollah Alhaj Nazmul Ahsan Khaled KDS Garment industries Ltd Alhaj Abdus Samad Alhaj Abu Naser Mohammad Yeahea Alhaj Abus Salam Niaz Ahmed Badshah Meah Alhaj Kazi Md Mofizur Rahman Alhaj Eng Kh Mesbahuddin Ahmed Md Ashik Hossain Farid Ahmed Mohammed Mahtabur Rahman Alhaj abdul Moktadir Mohammed Haroon A S M Mainuddin Monem Ahmedul Haque Sarker Mohammad Shameem Iqbal Mohammed Emadur Rahman Kazi Abu Kauser Master Abul Kashem Naba knit Composite Limited Jainul Abedin Jamal Kamal Uddin Uddin Majbura Begum Asma Begum Afroza Sultana Shajjad Mustafa Azad Mustafa Farhana Irin Tanveer Nawaz Sk Md Samiul Islam Kawsar Azizur Rahman Mohammad Jahangir Mollah Mahmood Malek Mollah Mazharul Malek Norrish Poultry and Hatche ry ltd Galco Steel Bangladesh ltd Mohammed Oheidul Alam of Shareholdings 51 75 2 50 0 50 1 25 1 50 1 00 0 50 5 00 0 50 4 50 2 00 1 25 2 00 2 00 1 75 0 50 0 50 1 75 1 00 2 25 0 50 0 25 0 25 0 75 0 50 0 25 0 25 0 25 0 25 0 25 0 25 0 25 0 25 0 25 0 25 0 25 0 25 0 25 0 25 0 25 0 50 0 25 1 00 0 50 0 25 31 12 2011 Taka No of Shares 207,000,000 10,000,000 2,000,000 5,000,000 6,000,000 4,000,000 2,000,000 20,000,000 2,000,000 18,000,000 8,000,000 5,000,000 8,000,000 8,000,000 7,000,000 2,000,000 2,000,000 7,000,000 4,000,000 9,000,000 2,000,000 1,000,000 1,000,000 3,000,000 2,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 2,000,000 1,000,000 4,000,000 2,000,000 1,000,000 31 12 2010 Taka Taka 2,070,000,000 100,000,000 20,000,000 50,000,000 60,000,000 40,000,000 20,000,000 200,000,000 20,000,000 180,000,000 80,000,000 50,000,000 80,000,000 80,000,000 70,000,000 20,000,000 20,000,000 70, 000,000 40,000,000 90,000,000 20,000,000 10,000,000 10,000,000 30,000,000 20,000,000 10,000,000 10,000,000 10,000,000 10,000,000 10,000,000 10,000,000 10,000,000 10,000,000 10,000,000 10,000,000 10,000,000 10,000,000 10,000,000 10,000,000 10,000,000 20,000,000 10,000,000 40,000,000 20,000,000 10,000,000 Al-Arafah Islami Bank Limited 127 ANNUAL REPORT 2011 ANNUAL REPORT 2011 Particulars 11 03 Share Holding Position Name of the Share Holder Sahana Ferdous MST Marine Services and Traders ltd Woodbreeze Limited Zephyr International LTD Paean intl ltd Shabana Niaz Golden Oils Mills Ltd Shahida Anowar Dubai Bangladesh Cement Mills Ltd Islamic Commercial Insurance Co Ltd Faisal Ahmed Mohammed Oliur Rahman Reedisha knitex Ltd Hoque Kh Sakib Ahmed TOTAL 12 00 Borrowing From Bank Borrowing from Al-Arafah Islami Bank limited Borrowing from Shajalal Islami Bank Limited Accounts Payable Al - Arafah Islami Bank Limited Profit Payable for borrowings VAT AIT Payable Payable to clients Audit fees Payab le Provision for taxation Income tax provision 2010 Income tax provision 2011 Investment Income Margin Profit income Profit on Investment Profit on MSND Profit paid on Borrowing Borrowing from Al-Arafah Islami Bank limited Borrowing from Shajalal Islami Bank Limited Brokerage commission DSE CSE Documentation Maintenance Fess BO Documentation fees BO Maintenance fees Margin documentation fees Other Operating Income CDBL Income Cheque dishonour Charge Dividend income Realized Capital gain Others of Shareholdings 0 25 0 25 0 25 0 25 0 25 0 50 1 00 0 50 0 25 1 25 0 50 0 75 0 75 0 25 0 50 100 00 31 12 2011 Taka No of Shares 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 2,000,000 4,000,000 2,000,000 1,000,000 5,000,000 2,000,000 3,000,000 3,000,000 1,000,000 2,000,000 400,000,000 31 12 2010 Taka Taka 10,000,000 10,000,000 10,000,000 10,000,000 10,000,000 20,000,000 40,000,000 20,000,000 10,000,000 50,000,000 20,000,000 30,000,000 30,000,000 10,000,000 20,000,000 4,000,000,000 13 00 1,705 ,755,505 700,000,000 2,405,755,505 772,906 13,209,325 50,412 131,326,912 100,000 145,459,555 23,486,769 228,187,183 251,673,952 585,824,927 90,539,399 69,245,736 745,610,062 148,150,073 13,209,324 161,359,397 132,406,722 4,202,258 136,608,980 130,500 2,777,500 218,000 3,126,000 16,681,972 171,000 300,000 1,336,967 37,714 18,527,653 42,286,064 00 50,000 00 42,336,064 23,486,768 23,486,768 56,281,865 6,410,090 62,691,955 - 14 00 15 00 16 00 17 00 18 00 19 00 128 Al-Arafah Islami Bank Limited 20 00 Hawla, Laga CDBL Charges Hawla charge Laga charge CDBL Charges Salary allowances Contribution to P F Salary allowances Contribution to P F Wages Security Services Rents, Taxes, Insurance, Lighting etc Rent Insurance Lighting Tax Honorarium Meetting Expense Honorariam Meetting Postage, Telegram, Telephone Stamps etc Postage Stamps Depreciation Repairs to Properties Depreciation Repair Maint Amortization of Priliminary Exp Other Expenses Computer Charge Bank Charge Petroleum Oil, Lubricant WASA Ga s Entertainment Travelling, Local conveyance Saturday Allowance Internet Online Charge Registration Expenses Other Expenses Break up of Other Expenses Subscription Renewal News paper Upkeep Air-condition Ch Misce Investors Protection AR License Eid Gracia Bank guarantee Provision for Investment Investment on Dealer Investment on Clients Provision for Current Tax Operating Before tax Less Brokerage Income Income Tax 37 5 on estimated Taxable Profit Add Deducted DSE Add Deducted CSE 21 00 1,384,270 6,976,115 11,458,981 19,819,366 22,929,504 538,444 209,054 23,677,002 9,440,467 100,533 332,702 10,500 9,884,202 596,000 596,000 369,640 42,940 412,580 6,591,291 209,573 4,567,685 11,368,549 174,590 78,230 427,529 865,182 78,913 2,437,527 230,679 4,292,650 19,905 1,668 3,300 8,800 55,160 60,359 6,000 4,400 145,835 305,427 8,641,858 8,052,207 16,694,065 671,576,398 136,608,980 534,967,418 200,612,782 26,674,369 900,032 228,187,183 10,575 10,575 23,486,768 23,486,768 22 00 23 00 24 00 25 00 26 0 0 26 01 27 00 28 00 Al-Arafah Islami Bank Limited 129 ANNUAL REPORT 2011 ANNUAL REPORT 2011 130 Al-Arafah Islami Bank Limited AIBL Capital Market Services Ltd Fixed Assets Schedule As on December 31, 2011 Annex-A Cost Opening Balance Taka 7,020,265 967,952 210,082 1,039,743 16,137,800 148,848 6,509,113 3,430,045 2,154,310 37,618,158 4,599,668 473,561 575,050 1,175,955 7,685,068 4,005,095 2,627,871 42,217,826 7,400 156,248 16,137,800 20 10 20 20 10 1,673,556 2,713,299 20 147,360 357,442 20 198,540 1,166,492 20 348,246 7,368,511 10 702,027 193,590 42,017 207,949 3,227,560 14,885 1,301,823 686,009 215,431 6,591,291 Addition Disposal during during the year the year Taka Taka Balance as at 31-December-11 Taka Rate Opening Charge for Balance the year Taka Taka Description Adjustment Total at 31 Written Down during the December-11 Value as at year Taka Taka 31-Decem-11 Taka 702,027 193,590 42,017 207,949 3,227,560 14,885 1,301,823 686,009 215,431 6,591,291 6,666,485 972,902 315,425 2,505,350 12,910,240 141,363 6,383,245 3,319,086 2,412,440 35,626,536 Particular Interior Decoration Computer Accessories Online Software Online Hardware Motor Car Furniture Fixture - Steel Office Equipment Computer Furniture Fixture - Wood Total MAY CORPORATE ADVISORY PORTFOLIO FACTORY N EW POR RTF FOLIO O GROUP ORGANIZATION ALLOW USED ECONO OMIC C STOCK PLAN OR RG GANIZA NIZA ATION O AU UDIT I NE N EW STAK TAK KEH HOLDER OL ORGA OR GANIZA ATION AIBL Capital TOPIC USINESS PROJECT JECT T BU GROU UP Limited Management STRATEGY POR OR TFOLI IO CORPORA ATE TPL E ADV AD VIS S SO O R Y LAN A L L OW VENTURE MAY A STRA ATE EGY PLAN PR ROFIT T DESCRIBE MAY MANY FO ORECAS AST und der rwriti iting ISSU SUE MANA MANA AGEME ENT T PRO OJECT E T MAY NEW BUSINE U ESS USED D ECONOMIC underwrit ting MISSION ISSUE S MANAGE M EME ENT corporate advisory UNDE ERWRI ITI ING ROUND EXTERNAL MANY cor orpo porate advisory advisory oy MISSION AIBL Capital Management Ltd is another subsidiary company of Al-Arafah Islami Ba nk Limited The company has been incorporated in 2012 under the companies act 1994 as a private limited company by shares The paid up capital of the company is 50 00 Crore which was subscribed by Al-Arafah Islami Bank Limited and its subsidiary AIBL Capital Market Services Ltd at the ratio of 98 and 2 respectively The company is under process to get license from Securities and Exchange Commission The main object of the company is to conduct all types of merchant bank activities like issue management, portfolio management, underwriting, corporate advisory etc ANNUAL REPORT 2011 BRANCHES OF AIBL DHAKA DIVISION Banani Branch AD 16, Kamal Ataturk Avn, Banani, Dhaka 8810419, Fax - 8810587 Motijheel Corporate Branch 125, Motijheel C A, Dhaka-1000 7160808, 0173-0019595 Dhanmondi Branch H 54 1, R 4 A, Dhanmondi, Dhaka 8610913, 01819-255906 Dilkusha Branch AD 63, Dilkusha C A, Dhaka-1000 9559063, 01819-260304 Islampur Branch 29-31, Islampur Road, Dhaka 7393800, 7393754 Jatrabari Branch 6 S F Shara k, West Jatrabari, Dhaka 7554510, 7554477 Joydebpur Chowrasta Branch Joydebpur Chourasta, Gazipur 9256196, 01819-261297 Kapasia Branch Kapasia Bazar, Kapasia, Gazipur 06824-52055, 01671-973077 Konapara Branch 958, Konapara Bazar, Demra, Dhaka 01811-409592 Motijheel Branch AD 161, Motijheel C A, Dhaka-1000 9569350 D , 01819-771017 Moulvibazar Branch AD 3, Moulvibazar, Dhaka 7311989, 01819-211828 Mirpur Branch 5 H-G, Darus-Salam Road, Mirpur-1, Dhaka 9008123, 9010623 Mymensingh Branch 70, Choto Bazar, Mymensingh 091-66714, 01912-000458 Mouchak Branch 76 D I T Road, Malibagh, Dhaka 9339006, 01710-853872 Mohammadpur Krishi Market Branch 32 8 Ka, T M Road, Mohammadpur, Dhaka 9142732, 01819-255297 Madhabdi Branch 691-694 Madhabdi Bazar, Narshingdi 9351805, 01711-613484 Nawabpur Road Branch AD 85 87, Nawabpur Road, Dhaka 7110708, 01819-202754 North South Road Branch 96, Nazrul Islam Sarani, Bangshal, Dhaka 7167682-3, 01819-411415 New Elephant Road Branch AD 91, New Elephant Road, Dhaka 966532 3-4, 01819-244902 Narayangonj Branch 71, B B Road, Narayangonj 7645821-22, 01819-411430 Pagla Branch Afser Karim Bhabon, Pagla, Narayangonj 7682356, 01819-253591 Progati Sharani Branch Ga-133 3 Progati Sharani, Dhaka 9863317, 01713-204935 Uttara Model Town Branch H 13 R 14 A, S-4, Uttara, Dhaka 8916454, 01713-012889 VIP Road Branch AD 86, Inner Cerculer Road, Dhaka 9345871-2, 01819-212743 Gulshan Branch Hosna Center, 106 Gulshan Avenue, Dhaka 9886271, 9863236, 01713-123503 Hazaribagh Branch 149, Hazaribagh bazar, Dhaka-1209 9611758-9, 01811-157536 Keranigonj Branch Haridia Shopping Complex, Kadamtali, Keranigonj 7763100, 7763099, 01914-874850 Manda Branch 96 North Manda, Dhaka 7277772, 7277388, 01552-490339 132 Al-Arafah Islami Bank Limited Nandipara Branch Nandipara Bazar, Dhaka 7811053 Bhairab Branch 74, Kaporpotty, bhairab, Kishorgonj 09424-71774, 01817-032726, Fax 09424-71775 Gazipur Branch Holding K-280 BIDC Road, Gazipur 926-1102, 926-1140, 01811-448051 Hemayetpur Branch Asha Pla za 1st Floor , Hemayetpur Bus Stand, Hemayetpur, Savar, Dhaka, 01911-398935, 01825-928909 Kamrangirchar Branch Hazi Kamal Super Market, Kamrangirchar, Dhaka 961-4457-8, 01815-451189, Fax - 961-4459 Khilkhet Branch B-34 Ka, Khilkhet Super Market Khilkhet, Dhaka 895-4789, 895-4860, 01811-483199 Mirpur-10 Golchattar Branch House - 27 Road - 1, Block - Kha, Mirpur-10, Dhaka 9006979, 9011766, 01715-619789 South Jatrabari Branch 314 A South Jatrabari, Dhaka 7545161, 7544840, 01710-857238 Abdullahpur SME Branch Minnat Plaza, Abdullahpur Bazar, Abdullahpur, Keranigonj, Dhaka 1311, 01713-810082, 01916-152104 Bandar SME Branch 555 1, Wilson Road, Bandar Bazar, Narayanganj 766-1317-8, 01826-180327 Panchdona SME Branch Panchdona Chowrasta, Narshingdi 01718-080042 Ati Bazar Branch Manik Plaza, Ati Bazar Keranigonj, Dhaka 7769168, 7769169, 01833-330274 Dakkhin Khan Branch L K Plaza, Dakkhin Khan Bazar, Dakkhin Khan, Dhaka 01972-582013 Notun Bazar Branch Notun Bazar, Baridhara, Dhaka 01811-487861 Pan thapath Branch F R Tower, 8C Sukrabad, Panthapath, Dhaka-1207 01811-410072 Kolatia SME Branch Kolatia Bazaar, Keranigonj, Dhaka 7769157, 01760-938299, 01817-112883 Shyamoli Branch 13 1 Ring Road, Shyamoli, Dhaka 01680-067911, 01711-386891, 8115098 R CHITTAGONG DIVISION Agrabad Branch AD 34, Agrabad C A, Chittagong 031-713372-3, Fax - 031-2514695 Hathazari Branch Hathazari Bazar, Chittagong 031-2601679, 01811-408492 Jubilee Road Branch AD 221, Jubilee Road, Chittagong 031-637680, 01819-315480 Khatungonj Branch AD 146, Khatungonj, Chittagong 031-622229-30, 01712-191878 O R Nizam Road Branch 943, O R Nizam Road, Nasirabad, Chittagong 031-656567-8, 01819-345030 Potherhat Branch Potherhat, Rauzan, Chittagong 01817-058797 Cox s Bazar Branch Kashem Plaza, East Bazarghat, Cox s Bazar 0341-51081-2, 01819320289 Chowmuhani Branch 857,858 Hazipur, Feni Road, Noakhali 0321-51000, 01715-033336 Feni Branch 33-34 S S K Road, Feni 0331-63548-9, 01911-711950 Comilla Branch 257,240, Monoharpur, Kotwali, C omilla 081-64546, 01711-431174 Companigonj Branch Companigonj Bazar, Muradnagor, Comilla 08026-59076, 01712235569 Gallai Branch Gollai, Chandina, Comilla 01715-219672 Brahmanbaria Branch Mosjid Road, Hazi Mansion Brahmanbaria Sadar 0851-59330, 01927-563888 Akhaura SME Branch Collage Road, Sarak Bazar Akhaura 08522-56155, 01740-619012 Al-Arafah Islami Bank Limited 133 ANNUAL REPORT 2011 ANNUAL REPORT 2011 Bashurhat SME Branch 34, Main Road, Bashurhat, Noakhali 01815-375806 Tantarbazar SME Branch Tantar Bazar, Akhaura, Brahmanbaria 01743-244344 Station Road Branch, Ctg 108, Station Road, Chittagong 01552-435734 Hajigonj Branch Hajigonj Tower, 762 Hajigonj, Chandpur 01834-838435, 01819-457729 R Kutibazar Branch Kutibazar, Kasba, 01730-970400 Satkhira Branch 466, Bara Bazar Sarak, Satkhira 0471-63606, 01712-514660 Chuknagar Branch Chuknagar Bazar, Dumuria, Khulna 01727-043255, 01712-236127 Mongla branch 19 A, Mongla Port I A, Mongla, Bagerhat 04662-75105-6, 01741-301916 BARISHAL DIVISION B arisal Branch 444 Hemayetuddin Road, Barishal 0431-64476, 01727379119 Jhalakathi Branch 68, Monohari Patti, Jhalakathi 0498-62808, 01711-194078 Fax 0498-62807 Bhola Branch Jahangir Plaza, Sadar Road, Bhola 0491-61244-5, 01715-602316, Fax - 0491-61244 Mathbaria Branch 289 Pharmacy Road, Mathbaria, Pirojpur 04625-75374, 01751-108816, Fax - 04625-75373 SYLHET DIVISION Ambarkhana Branch 4877, 4874 Ambarkhana, Sylhet 0821-2832161-2, 01711-312599 Beani Bazar Branch 825, South Beani Bazar, Sylhet 08223-56114-5, 01713-409987 Laldighirpar Branch 1795, Reasot Tower, Laldighirpar, Sylhet 0821-710809, 01819-550426 Moulvibazar Branch 99-100 Saifur Rahaman Road, Moulvibazar 0861-54106-7, 01714-000907 Ruposhpur Branch 1450 Central Road, Srimangal, Moulvibazar 08626-71242, 01711431173 Zindabazar Branch Jalalabad House, Zindabazar, Sylhet 0821-722078-9, 01711-431175 Madhabpur SME Branch 265-349, Madhabpur Bazar, Hobigonj 0832-756352, 01716-082820 RAJSHAHI DIVISION Rajshahi Branch AD 239,248 Shaheb Baza r, Boalia, Rajshahi 0721-775171, 01727-179771 Bogra Branch AD Talukder Mansion, Barogola Bogra 051-69994-5, 01713-203754 Mohadevpur Branch Plot No 425, Mohadevpur, Noagaon 07426-75136, 01711-425675 Saidpur Branch AD Dr Zikrul Hoque Road, Saidpur Nilphamari 05526-72804, 01716-236334 Fax 05526-72804 Dinajpur Branch 333, Nimtala Dinajpur 0531-61865-7, 01928-771006 Badargonj SME Branch Upazila Road, Badargonj, Rangpur 05222-56571-4, 01712-037959 Shahjadpur Branch Chowdhury Plaza, Dariapur Bazaar Shahjadpur, Shirajgonj 07527-64052, 07527-64053, 01762-331990, 01557-718828 KHULNA DIVISION Khulna Branch AD 4, Sir Iqbal Road, Khulna 041-721249, 01712-091747 Benapole Branch 283, 284, Benapole Bazar, Jessore 04228-75686, 01711-431176 Jessore Branch 27, M K Road, Jessore 0421-68571, 01711-431060 134 Al-Arafah Islami Bank Limited PROXY FORM I We of address being shareholder s of Al-Arafah Islami Bank Limited hereby appoint Mr Mrs of address as my PROXY, to attend and vote for me on my behalf at the 17th Annual General Meeting of the Company to be held on Sunday the 20th May 2012, at 10 00 a m at the Officers Club , 26 Baily Road, Dhaka and at any adjournment thereof Signed this in my our presence on day of 2012 Revenue Stamp of Tk 10 - Signature of the Proxy Folio No BO A C No No of shares held Notes Signature of the Shareholder 1 This form of proxy, duly completed with a revenue stamp of Tk 10 - only, must be deposited at least 48 hours before the meeting at the Company s Share Department, Rahman Mansion 1st floor , 161 Motijheel C A, Dhaka-1000, proxy will be invalid if not signed and stamped as shown above 2 Signature of the shareholder should agree with the specimen signature registered with the Company ATTENDANCE SLIP I do hereby record my attendance of the 17th Annual General Meeting of the Company to be held on Sunday the 20th May 2012, at 10 00 a m at the Officers Club , 26 Baily Road, Dhaka Name of the Shareholder Proxy Folio No BO A C No No of shares held Signature of the Shareholder proxy Dated Note Shareholders attending the meeting in person or by proxy are requested to deposit the attendance slip duly filled in at the entrance of the meeting Hall Seats in the Auditorium are reserved only for the Shareholders Proxies ANNUAL REPORT 2010 136 Al-Arafah Islami Bank Limited.
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