Prime Bank Limited
| Private (Non-Government), (DSE:PRIMEBANK ) | |
| Industry | Banking |
| Founded | Dhaka, Bangladesh (1995) |
| Headquarters | Dhaka, Bangladesh |
Key people |
Mr. Azam J Chowdhury (Chairman) Mr. M A Khaleque (Vice-Chairman) Mr. Mafiz A. Bhuiyan (Vice-Chairman) M.A. Wahhab |
| Products |
Banking services, Consumer Banking Corporate Banking Investment Banking Islamic Banking |
 Tk 5790 million | |
Number of employees | 2,139[1] |
| Slogan | a bank with a difference |
| Website | Official website |
Prime Bank Limited is a private commercial bank in Bangladesh. It was established on April 17, 1995. It is now one of the banks in Bangladesh which follows international standard in Banking and Finance.
Prime Bank was created and commencement of business started on 17 April 1995. The sponsors are reputed personalities in the field of trade and commerce and their stake ranges from shipping to textile and finance to energy etc.
Prime Bank offers all kinds of Commercial Corporate and Personal Banking services covering all segments of society. Diversification of products and services include Corporate Banking, Retail Banking and Consumer Banking right from industry to agriculture, and real estate to software.
Prime Bank Limited is the title sponsor of the 2013 edition of Bangladesh Premier League cricket tournament.
Islamic Banking at Prime Bank
Islamic Banking operations of Prime Bank Limited started in the year 1995 through the opening of Islamic banking branch at Dilkusha, Dhaka. Prime Bank is the pioneer in such a kind of blending of conventional and Islamic banking in the country which is followed by many other banks. With the passage of time, Prime Bank now carries on its Islamic banking operations through 5 (five) Islamic Banking Branches. Objectives of launching Islamic Banking Operations by Prime Bank are to cater the needs of customers who want to have services in Islamic modes and provide importance to the sentiment of people, majority of whom are Muslims and are akin to Islamic financial system, to introduce the partnership concept of business operations for ensuring justice in distribution system, to introduce wealth maximization concept through profit / loss sharing system in business and investment and help distressed people develop their financial standing through Islamic Banking operation mechanism, to provide products and services free from interest suited to the needs of customers and establish justice in the society and do other acts ancillary to the establishment of exploitation free society.
Operations of Islamic banking branches are coordinated by Islamic Banking Division at Head Office and supervised by Prime Bank Shari’ah Supervisory Committee, composed of Shari’ah experts and renowned economists of the country. Their recommendation on Shari’ah principles is strictly respected by the Board to run the Islamic Banking Branches of the Bank. The basic functions of Prime Bank Shari’ah Supervisory Committee are to offer views on matters related to Islamic Banking branches of the Bank from time to time and to assist the Board of Directors by advising them on matters relating to Shari’ah. Their recommendation on Shari’ah Principles is strictly respected by the Board to run the Islamic Banking Branches of the Bank.
Prime Bank Limited (PBL) is considered as the leading private sector bank of the country in terms of efficiency, capital adequacy, asset quality, sound management and profitability. Launching of Islamic banking operation by Prime Bank by introducing different innovative products and services based on Islamic Shari’ah got tremendous response from a considerable portion of its clientele who are eager to accept Shari’ah compliant modern and innovative banking products and services. Prime Bank is also offering Islamic banking products and services through Islamic Banking Service Desks set up at its conventional banking branches.
Prime Bank enjoys a very strong brand image in the banking sector and the bank has a very good market reputation and its Islamic banking business has proved to be superior compared to others. Its Islamic banking market share and growth rate is the highest among the conventional banks having Islamic banking branches. Considering the fact that the Islamic banking industry is at its growth stage in the country and competitive rivalry among the industry members is increasing, Prime Bank have set the vision to be a trend setter in this field by adopting proper strategy and objective in order to achieve its goal.
The bank identifies all of its Islamic banking activities by adopting a generic name of ‘Hasanah’ - the brand name for Islamic products and services of the bank, which has been used in the Qur’an and the Hadith to denote good deed, welfare, virtue, beauty spot etc. The strategy to launch ‘Hasanah’ brand has proved to be a good move - the Islamic banking business is growing at a competitive rate despite various limitations for its expansion. This growth is also comparable to the overall growth of the Islamic banking sector of the country.
The Islamic banking manpower of the bank is more than one hundred for whom the bank arranges regular training programs on operation of Islamic banking. Prime Bank is an active member of Central Shari’ah Board for Islamic Banks of Bangladesh and Islamic Banks Consultative Forum. Thus Prime Bank is committed to uphold the sentiment of majority of the people in the country as ‘A bank with a difference’.
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