Al-Arafah Islami Bank Ltd has approved 13.5 per cent dividend in the form of bonus share for the year ended December31, 2013.
The approval came from the bank’s 19th annual general meeting that was held at Hotel Agrabad in Chittagong on Sunday, says a press release. The meeting was presided over by Badiur Rahman, chairman,board of directors of the bank. The bank achieved growth of 18.79 per cent in deposit and 17.88 per cent in investment during the year 2013 compared to 2012. The bank also kept its classified investment in control. At the end of 2013 classified investment of the bank stood at 2.77 per cent. The AGM considered and adopted the directors' report, statement of accounts for the year 2013 along with auditors' report and also appointed the auditors of the company for the term until the next annual general meeting.