Islami Bank to raise authorised capital from Tk 2,000 crore to Tk 10,000 crore

The board of directors of Islami Bank Bangladesh, a bank-sector company listed on the stock market, has decided to increase its authorised capital by Tk 8,000 crore to Tk 10,000 crore. The bank’s current authorised capital is Tk 2,000 crore.

The information became known on Thursday (5 November) from Dhaka Stock Exchange (DSE) sources.

According to the sources, to increase the authorised capital, necessary amendments will be made to the bank’s Memorandum and Articles of Association.

However, before the proposal can be implemented, clearance will have to be obtained from the relevant regulatory bodies, including Bangladesh Bank.

A special general meeting (EGM) will also be convened to obtain shareholders’ approval of the proposal.

Only after the shareholders give their consent at the EGM will the process of increasing the authorised capital be completed, subject to the consent of Bangladesh Bank and the Bangladesh Securities and Exchange Commission (BSEC).