Welcome To Islami Insurance Bangladesh Limited || A name you can trust




 


Company Profile

Islami Insurance Bangladesh Limited (IIBL), the first General Insurance (Takaful) Company based on the Islami Shariah was registered and established under the Bangladesh Company Act, 1994 and the Bangladesh Insurance Act, 1938 on 29th December, 1999 to transact all sorts of general Takaful business. The Company started functioning from 1st January, 2000.

Board of Directors

The Board of Directors of the Company comprises of well-known industrialists and reputed personalities drawn from different walks of professions and vocations. The members are dedicated to the cause of Islam and are committed to build up an Islamic Insurance Institution worth of its name. <Details>

Management

The Company is staffed by very experienced and technically qualified personnel poised to offer the best of protection and services to its valued clients. The Company is also fully equipped to provide prompt and efficient service by rendering expert advice to its clients in planning their insurance programmes on most economic and competitive terms consistent with safety and security.

The Managing Director of the Company is associated in the Insurance Sector over 30 years. <Details>

Shariah Council

In an Islamic Insurance Company, there must be a Shariah Council/Committee generally composed of renowned Ulemas, Shariah experts and insurance experts.

IIBL has an eight-member Shariah Council (Shariah Advisory Board) constituted with eminent Islamic scholars, Shariah experts and Legal experts for supervising the affairs/functions of the company in the light of Shariah. <Details>

Collaboration with Takaful Malaysia

The Company has adopted the model of Syarikat Takaful Malaysia and is planning to establish business, technical and investment collaboration with this biggest Islamic Insurance Company in the world.

Capital

Authorised Capital : Tk. 1000 million
Paid-up Capital : Tk. 356.41 million.

Assets of the Company

The total Assets of the Company as on 31st December, 2018 is Tk. 1,026.47 million and the investment upto 31st December, 2019 is Tk. 533.00 million.

Business Performance

Business performance of the Company is quite satisfactory having increasing trend.

Dividend

Yearwise dividend declared for last 5 years are as follows:

- 5% Cash & 10% Stock Dividend for Year 2014

- 10% Stock Dividend for Year 2015

- 10% Stock Dividend for Year 2016

- 5% Cash & 5% Stock Dividend for Year 2017

- 10% Cash Dividend for Year 2018

Settlement of Claims

The motto of the Company is to settle the claims as promptly as possible. During the last five years from 2014 to 2018 the Company settled claims of the clients amounting over Tk. 320.85 million.

Credit Rating

The Credit Rating Agency of Bangladesh (CRAB) has graded our Company to A2 (Single A Two) in the long tern rating and "ST-3" rating in the short term rating.

The Solvency Margin of the Company as on 31st December, 2018 was 5.86 times.<Details>

Key and Corporate Information

Details on key and corporation information ... <Details>

 




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