THE BANGLADESH

Details & Description

In the history of lslami Sharia’h based banking system in our country with modern and progressive guidelines; “First Security Islami Bank Limited (FSIBL)” is one of the pioneers. It is a full- fledged sharia’h compliant bank which follows all the Islami rules & regulations. First Security Islaml Bank Ltd. was inaugurated on 25th October, 1999. By considering public demand and justification of the prudent decision of the board & management of our bank, it was converted to a full-fledged Islami bank on 1st January 2009.

“First Security Islami Bank Limited (FSIBL)” is relentlessly working for developing long-term strategic plan to maintain dynamic growth by realizing the changing habit of all types of clients and to become the symbol progressiveness of banking arena of our country. It provides easy access to its broad base of customers throughout the country via multi delivery channels which include branches, Sub-branches, Agent Banking Outlets, ATM booths located nationwide, as well as app. “FSIBL Cloud” based internet banking and Mobile financial Services.

With over two decades of glorious history in contributing to the financial community in Bangladesh with its innovative and entrepreneurial business spirit, “First Security Islami Bank Limited (FSIBL)”is committed to delivering the best customer experience and creating long-term shareholders’ value.

Management Efficiency

Senior Management

FSIBL is functioning with a highly professional management team headed by the Managing Director Mr. Syed Waseque Md. Ali. Among other senior executives, 02 AMDs, 02 DMDs, 01 Principal at Training Institute, 12 EVPs, 11 SVPs, 42 VPs, 40 SAVPs, 113 AVPs  and 188 FAVPs are discharging their services for achieving organizational goals. Top management of the Bank is supported by highly qualified and dedicated human resources numbering around 4287 officials (as on 01-March, 2022) in different grades.

Human Resources Management

FSIBL being a third generation progressive Islamic Shariah Based private commercial bank, it always emphasizes on the development of its manpower to provide quality services to its clients. It believes that the factors which help the banks to survive and differentiate it from other banks are closely interlinked with the quality of services and satisfaction of clients and these depend on the qualification of employees, efficiency & effectiveness of work. As our human resources give the organization a significant competitive edge, we continue our policy of recruiting the best professionals and implement programs to develop and retain high quality employees for facing challenges of 21st Century. The bank is making equal opportunity for new talents in its process of recruitment and selection. It is continuing its efforts towards the development of its manpower by providing required trainings, workshops, seminar etc. in home and abroad to make them well equipped to provide quality services to its customers. It arranges training and workshop in home and abroad for its top management to formulate and implement appropriate policies for the betterment of the Bank. It also arranges priority-based trainings and workshops to make its employees compliant to its regulatory body and helps its employees for career development.

Corporate Governance

Corporate governance is about how corporation is running its operations to achieve its corporate objectives. Bangladesh Bank (BB) gives emphasis on implementing corporate governance among the financial institutions and to do so, BB emphasizes implementation of the guidelines issued by them for improving corporate governance in banking sector. Good Corporate Governance practices enhance an entity’s corporate image and market credibility, which attracts capital and increases its borrowing power. These can be reflected in the quality of financial reporting and disclosures; strength of internal control system and internal audit function induction of professionally competent, independent non-executive Directors on corporate Board; formation of Audit Committee; delegation of authority to executives and staff; protection of corporate governance for strengthening organizational strength. 

Executive Committee:

FSIBL has constituted 05 member executive committee of the board as per Bangladesh Bank guidelines to ensure corporate governance in the business of which managing director of the Bank is Ex-officio Member. The executive committee of the board is responsible for the development of policy and strategy regarding smooth operations and business expansion of the bank to maximize shareholders wealth and to protect other stakeholders’ interest in the company. Mr. Mohammed Saiful Alam, Chairman of the board of Directors, is also the Chairman of the present Executive Committee of the bank. He is a very dynamic person and leading the executive committee of the bank to protect the interest of the relevant parties and to ensure transparency in all levels.

Audit Committee:

FSIBL has formulated an audit committee which plays an effective role in formulation of efficient and secured banking system. The Audit Committee is comprised of three members of the Board of Directors. As per corporate governance guidelines, the Chairman of the Audit Committee has profound knowledge and expertise in the field of finance, accounting or auditing standard.

Risk Management Committee:

FSIBL has also formulated 03 members of Risk Management Committee as per Bangladesh Bank BRPD Circular No: 11, dated: 27.10.2013.

Our Mission:

To be the premier financial institution in the country based on “Islamic Shariah” by providing high quality products and excellence in services backed by latest technology and a team of highly motivated personnel to deliver excellence in Banking Service.

Email: info@fsiblbd.com

Swift code: FSEBBDDH