Message from

CHIEF EXECUTIVE OFFICER

 

In the name of Allah, the Most Gracious, the Most Merciful.

Dear Shareholders—Assalamu Alaikum wa Rahmatullah.

On behalf of Islami Insurance Bangladesh Limited, I offer heartfelt congratulations to the esteemed Chair of today’s 25th Annual General Meeting, to my fellow Directors, shareholders, officers, and distinguished guests in attendance. I thank Almighty Allah for enabling us, with your cooperation, to convene such a vibrant and successful meeting. I am grateful to each of you for your participation here today.

You know that our company received its license in 1999; today marks our 25th Annual General Meeting. Through the tireless efforts of the Board and your unwavering support, the company has completed 25 years of success. I am confident that, with your continued backing, our business growth—and indeed our overall progress—will accelerate even further. Our directors are working relentlessly toward this goal, setting business plans and guiding branch managers and all members of management.

We attach the highest priority to your investment in the company, always seeking to safeguard it and deliver the greatest possible return. As you are aware, Islami Insurance Bangladesh Limited earned gross premium income of BDT 675.28 million and net premium income of BDT 480.40 million. During the year under review, underwriting profit was BDT 139.07 million and profit before tax BDT 168.00 million. Claims amounting to BDT 102.20 million were settled, and as of 31 December 2024 total assets stood at BDT 1,819.00 million.

Dear shareholders, for the year under review the company has declared a 20% cash dividend for you. You are aware that the Insurance Development and Regulatory Authority (IDRA) has recently taken a number of initiatives to strengthen the sector; we expect these measures to enhance industry performance and boost company profitability, allowing us, God willing, to offer even higher dividends in the future.

I am pleased to inform you that the company’s latest credit rating, completed by credit rating agency M/s. ARGUS Credit Rating Services Ltd., assigned us “AAA” in the long term and “ST-1” in the short term.

Finally, on the occasion of this 25th AGM, I extend my sincere gratitude to the Ministry of Finance, Finance Division, Insurance Division, IDRA, Bangladesh Securities & Exchange Commission, Registrar of Joint Stock Companies & Firms, Dhaka and Chattogram Stock Exchanges PLC, Central Depository Bangladesh Ltd., Sadharan Bima Corporation, Bangladesh Insurance Association, Bangladesh Bank, all commercial banks and financial institutions, our esteemed shareholders, valued policyholders, all relevant government departments, electronic and print media, journalists, well-wishers, and—above all—the Honorable Chairman, Vice Chairman, and Directors of the Board for their support. I also offer heartfelt thanks to the heads of departments at the head office, branch managers, and all officers and employees for their tireless efforts and cooperation.

Allah Hafez.