Staff Reporter, Dhaka : First Security Islami Bank PLC (FSIB) has enrolled one million new customers and mobilized Tk.3,900 crore fresh deposits overcoming the challenges in the last nine months. Under the prudent leadership of new board, the Bank has witnessed a steady growth and stability by the consolidated
efforts of the employees, customers and other stakeholders showing its resilience in regaining trust and rebuilding confidence of the customers and common people. The new board has devotedly been
working to protect the interest of the depositor with utmost priority. They are trying to reshape the bank to serve the national interest ensuring inclusive growth and development by means of equitable
investment, employment generation, woman empowerment, SME investments with special focus on rural development.
Mohammad Abdul Mannan, chairman of the bank said, “In light of the Shariah Objectives, we have taken a simple strategy that wherever deposits are collected, that same area will be benefited from those deposits. This approach helps revive local economies, employment generation, and reduce poverty particularly in rural areas. “We have given importance on small deposits, SME investments, entrepreneurship development, staff training, and improved governance. And by thus we believe FSIB will fully be back in normal banking operations soon”, Mr. Mannan added.
While collecting deposit FSIB is pursuing individual depositors rather than corporate depositors. FSIB chairman said, “A healthy bank should be business-oriented, not deposit-dependent. That’s why we’re shifting focus to individual savings, ensuring long-term stability, and diversifying of investments to small entrepreneurs”. After taking charge of FSIB, the board has given special attention in increasing remittance inflow in the bank, and has recently signed new remittance agency agreements in Saudi Arabia, the UK, and the USA.

In recovering bad investments, FSIB has taken hard measures including legal actions, social pressures on willful defaulters, hanging banners, festoons at defaulters’ establishments and filing suits against them. The bank has put an end to reckless hiring practices that undermined the bank. Instead, they are focusing on retraining and upskilling of its employees for improving customer service.
The bank has already evaluated all 5,000 employees and arranged training for 3,000 officials to strengthen the core competencies. FSIB is focusing on creating employment, empowering women,
supporting SMEs, and providing expanded working capital to local businesses. Through these efforts, the bank aims to help meet the basic needs of the broader population and contribute to a more
inclusive economy in light of the Islamic Shariah principles. These efforts will ensure the safety of the depositors’ stake in the bank and ensure financial inclusion.