Export Import Bank of Bangladesh Limited: Financial Statements - 31 March 2017

Transcription

1. Export Import Bank of Bangladesh Limited Shariah Based Islami Bank Financial Statements (IJn-audited) as at 31 March 2017 (First Quartet)
2. EXPORT IMPORT BANK OF BANGI-ADESH LITUITED Consolidared Balance Sheet (Uo-audited) as at 31 Nlarch 2017 f PROPERTY & ASSETS Crsh l--r-r-r-7,r-'JJ ln hand (including foreisn currency) Ralance uth Banglzdcsh Bank and its Agot Banks (includtng foreign currencr) Brl.ncc with othcr brnk! rnd 6naDci.l insdru.ions | l l--r-J--r?J,i5-5, r :z,rc,,.rrs.r,,, | | :o,a,r".rl.r,r,,z 29,607,563,591 t | In Bangladcsh Outsidc Brngladesh PLccDGDt wilh -\{---hrou_lfp*---b*ror6l r,il2;rr.u7l :,rr,,.s,,s,,u | bank & oth.r Gnencid ios.irutio.! I t | ,8ry,,ri;l r.rg:.,,s.2,,,,,, 2,964,251,696 500,00,0,0,00 500,0o0,000 r r J'r dGlrLrs I -ii..,'.'rz.,,sz.rzz.rrg Others I 32,494,478,498 3,88?,815,961 IovcstmcnG in sharci .trd sccuritics 'l t,,4o4 ll os r .tB[] z,ucq.rcr.,-trr 18,061,373,?76 I | 1 ___ | | 227,000,668,060 22i396,9U,987 Fixcd $6.ts iDcluding prcmi6c3 Oth€r.ss€ts Non-bankins asscts Total proFrty & ass€ts I 16,413,514,919 -rrf,-Jr,,Jr,,J*]-2lJ-rJr,x(#ril a.crt.our.r",, a.zr:.,",r.,r,2 Ccncnl inlesrmc.ts ctc. llills purchased and discountcd I 5,646,r,78,,155 5,671,531J,024 0..146.1J25.1iJ1 9.6 33,203,U( 2e:8221-?32_ 19 _-4ppnfi)_ LIASILITIES & CAPITAI Li.biliri.s Pl.c.m.nr trcm b.nk! & orh.r 6..nci.l'niriturio.. Dcpo8it. and othcr eccounts II -lJ-aJ I rm.lgo.c*n.z"r I I 4s.,r(..,r,(, N{udariba sati.gs deposits N{udariba term deposits Oihcr l\{udaraba Deposrts I I I Al rsrJccah currenr rnJ orhrr dcposir a(counrs Bills payablc N,{udarabi Subordinatcd Bond I lr.,rul.oz:.,*r | | r.;r,r.srr.r:v | | 1 t :0,+sr,uzr.r*, I qt r,t 1 rtinl r+l I rl,:.lz,zsl,rsa I ru.,,ro.r,,l',. :o,r t r,, r,r,'rar, r.u:o.r,zs.r:s 2Aa ,613,312 2,500,0tn,([r 2,5u),0{x),0u) I ?E1,716,6m,823 t5,220,294,565 Oth.r Uabiliii€s 269,436,985388 Tot l liabil,ties C.pi.rllsh.reholder3' .quity f | I I I Paid up capitrl Iroreign orrency aanslation adjustm€f, t EXIM B.nk Sh.,ehold€.s' Equity Nfinoriq lnrerest rr.sl",68r,l 7.a{,.rr,'.zrs | I 25,713,847,770,461,658254 1)4,074 ,94t,U4 Off behncc iheet iteDB (i,ntingcni liab ries: Accc?tancc and endorscmcnts Lcners oiguamnrcc lrrcrocable lcttcrs of tctirt I I ___ztpp_e_ Tor.l liubilities and sh.'chold€.s' equity 264,666,t63217 t r4JrElu/ddl | r.aa,,.+ro.;28 .z,uo,soc,r,n" z.tro.sor,,cr,o || rr.o:a.szrrll o r.ssu,ls"tl r.c,zs,lua.r,.,z | | z.ls.z.oqs,cr(, r4.l ?5,1 To..l sh.r.holdcr6' cquity 90,862 ,61;149,116 ___2elJ_),et -331_ t I I I - lJills for collcction r4.r5s.18ilr I r.r,,+.rtr.t,+,,1 .u o.tsu.,zt.,,,, 1.,,,,r r.r,,,.,*,l Othc. contngeni liabilties 75,187,592,810 Torrl coDtiDgenr liabiliries Other commumenrs Total orTbalaftc shc€t I J!@,!ls,a3 it.ms --,ftt".* ?0,600,458,423 ttqE . Cha I l
3. EXPORT IMPORT BANK OF BANGI-ADESH LIMITED Consolidated Ptofit and [-oss Account (Un-audit€d) for the period ended 31 N{arch 2017 Taka March 2016 March 2017 Parriculare 4,955,159 ,191 lnvcstment incomc I'rr-rfit paid on deposus, borrowinp, etc. Net inv€6tlt,teat income 161 1,472,098,060 1,193,701,636 Income from investment in sbares/sccuriiics Commission, exchangc and brokerage Cain on sale ofinvestment in sharcs Other opcrating income 17,104,706 16,u9,799 519,681,765 429,044,804 28,'721,583 126,682,466 2,454,264 7'70,8/) ,360 142,237,650 639,565,107 110,574,538 Total operating income (A) Opcrating expenece Salaries afl d allowanccs Rent, taxes, insurance, electricity etc. Legal expenses & Postage, stamp telecommunications etc. Auditors fees Stationery, printing, advcrtisement, etc. Managrng Dicctor's remunention t,321,921 1,437,226 22,551,286 53,305 20,645,158 52,677,6tA 58,136,334 4,562,000 4,863,000 Managing Dircctor\ fees Directors' fees and expenses Shariah Supervisory Commrnee's liees & Expcnses Charges on Invcstment l,osses t)epreciabon oo aod repairs to Bank\ assets Zakat cxpenscs 630,429 83,700 4@,553 58.462,621 60,203,831 81,418,402 289.160.137 121,930 Othcr expenscs Total operating cxpensee (B) Profit/(lose) bcforc provieioa (C=A-B) Provision for investmenrs & OffBalancc Sheet Exposure Provision for diminution io valuc of shares 1,369 ,362,329 Total Provition (D) Total profit/(loes) bcfore t.x€s (C-D) Provi6ion for (693,31s,s47) f---- t.x I l--- (754,506,111) Net profit/(loee) after tax 2,319,91i,1r1 Rctained crmings broughr forward from previr',us year l'rofit 6r"rrfi64 r3r,mJdl 86,775,013 2,Cr05,8i8.617 ______!!25MJ!0 _____2p2fi1.6eo avarlable for rppropriation Appropriations: Issue of bonus sharcs Rctarfled caming. carricd forwrd Export lmport Bank of Bangladesh limited Mino;ty Intcrest 1.625,4011,167 2,04{t.6rJ7,444 1,625,411J80 2,048.687,108 Consolidated eamings per ordinary shzre Secretalv 'naging Direcror & CFO Managing Dite-tor & CEO I (\Y'/ AULV/d-[A. cr,I*.o 2
4. EXPORT IMPORT BANK OF BANGI .ADESH LIMITED Consolidated Cash FlowStatement (Un-audited) for the period ended 31 March 2017 T"kL l- M-"hro1-l- roG--l t'.l".h Particul.r3 A) Cesh flows from oper.tiag .ctivitics Invcstment incomc rcccipts I,rofir paid on deposits, borrowinE's, ctc. 4,970,559 ,197 (2,1 61 ,627 11,104,706 Dividcnd receipts Iiccs rnd commission rccclpts Cash fio<os before cbangct (77 5,692,360) ard liabilities (i) assets ,433) (9,564,625) (2,897,070) (414,332,837) (521 ,889,256) 55,058,856 109,596,939 1,351,159,814 6?5,708,869 r i,. operutint 5,086 16,849,799 429,044,804 (644,121,107) 519,681,765 (lash payment to employccs (lash payficot to supphers Income tax paymmts Rcccipts from othcr opcratitrg activitics l)aym(nts for othc ,pcrrung actvirits (.hrngc.i m operating ,341,2',7 (3,487 ,041 ,903) assers and hab rErs. (lncrcase)/decreaec in operating asscts Statutory deposit 'l rading security - sharcs Investmmts to orher banks Invcstments to customers Othor asscts (t,406,;41) 12,141,;43 lncrease/(decrease) in opetrting liabiliries Dcposits from othcr banks l)cposits from customcrs I-iabiliocs on account of customcrs (3,637,463,625) (3,494,658,311) (818,856,949) (501,066,201) (2,380,s42,158) 4,560,610,789 4,8't 3,189 ,351 00,452,465,913) 'l rading liabilities @orrowtig) (\hcr (54,391) 269.631 habiLitics Total chdlges in oPetuting assets f, lidbilities Net casb ftom operuting actieiries (i + ii) B) (r,68r,900,5s3) (.]30,740,739) (ii) Cash flos,s f.om iovcEtirg activitics: Rcccipts from salc/cncashmmt of securities BGIIB I)ayment for purchase <)f securities-B(;llB 1,550,000,000 of 6xcd assets Purchasc of Subsidiaries Net casb C) ftofi, inoettirrg acti{i (9,5?0,71s,524) (8,89s,006,6s5) (1,600,000,000) Purchase of 6xed asscts Salc procccds 32.+ ies (33,756,708) (69,217,644) 449,512 1,568,462 (1,613,307,136) 1,482,290,818 (1.964,047,87s)ll (7,412,71s,831) Cash flows from fin.nciog activitic. Rcccipts from issuc of Debt Instrumcnts I)aymcnt for redcmprron of Debt Instruments Rcccipts from issue of ordinary share/rights share Dividcnd paid in cash IUrnority investment in subsidiaries Net cash from firancirg qctiititiet D) Net inc.e*e/(decrease) ir ca6h .nd cash cquiv.lenls (A+B+C) E) Etlcd of Exch.age ratc changes oo caeh end c.sh cquiydeats F) Cach and cash equivdetrts at bcgianilrg of the yeer G) Cesh end cash equiv.lcdts .t eod of the year (D+E+D H) Calh end 698,839 ll 35.458.7 1,179,775 41 .311 .1 50.7 43 -----Il2!,$U$- -----]1&g41,qg1- cash equivalcrts (lash 29 ,607 ,565,59 1 Balancc with othcr banks and 6nancial nstituuofls 15.961 1J,495,381,558 / CFO / <. z t. b_?z/a Secterary C'6m{dy Director 3 29,114,768,067 ,1.851,446.614 13,966,214,681
5. EXPORT IMPORT BANK OF BANGI-ADESH LIMITED Consolidated Statement of Changes in Equity (Un-audited) f<,r thc pcriod cndcd 31 Nlarch 2017 P.'ticulars I I P'id uP "Pn'r r.r.. 14,r22,510,680 Brlance ai I Jmuary 2017 Chadges in accounting p(,licics/lasr year T.ka 7,U6,41O,778 2.t t67,771 ,(,66 62,77s,UX) (r 3,70r,ss2) 0s6,914) 2,31t2,1)4U,616 9{),rJ62 26,461 ,119,116 t,666 62,715,000 (1,,701,552) (156,934) 2,382,048,616 90,862 2t,447 ,749,16 Prolit 14,122,510,680 7,844,410,778 Rcrt tcd BrLrrcc 2,067 ,71 Surplus/(t)e6cr0 on r\<coLinr of Rc!alua('on PrcPerries Currency translatron dif fcrencc Nct Gain .nd lr3.cs oot rccogniz€d io thc Ncrprofir aor rhc 2,591,6"11 2.591,611 Surplus/(Deficrt) on Account of Revaluarion of lnr.srmcni incom. - 2,59r,671 z3a,2e4 (z13r,126) z],8,2g4 (2,131,126t ' pcnod (r,892,E32) - Q54'5$'324) 3213 698,839 054,506'111) SrGk l)ivldcnd prid ,lunn,< rhc penod 'IransfcrcJ ro sututory rc*nc \r.-^-^ i-,".-(r Toraf sharehotdos EouiN.s oD Toul shercholdcr Equity .s on 3l March 2017 14,122,510,680 ',1,846,410,778 2,06?,111,666 62,7',15,000 O1,109,q81) 81,360 ',1,625,{8,166 94,07s 2s,713,941,844 M.rch 2016 t4,2,5r0,6m 6,9[,8??,16? 2,06?,?7r,666 62,775,000 (5,308,488) (r5,8r9) 2,M8,68?,443 80,066 25210J??,715 31 Mar-17 *General Reeerve/Othet Rceeoe Mrr-16 l)n,idcod llqu!Lzirx,n ,^cc(,unr 62,115,\t\t\) 62,715.1XNt Total 62,773,000 62,775,000 Secretary anaging Directot & CFO qu,Llv_A
6. EXPORT IMPORT BANK OF BANGI-ADESH LIMITED Balance Sheet (Un-audited) as at 31 \larch 2017 Taka March 2017 PROPERTY & ASSETS Cash In hand (including foreisn cunency) With tsangladesh Bank and rts lgent Banks (ncludns .oaan.len.r) t-,I;ITltl;-=IIl 29,595,210,784 32,479,301,088 Bal.nce with oth€r bank! .nd fEancial institutions [-gs-mr,-jj-ilffix 3,880,166,782 In Bangladesh Outsidc Bangladesh 2,959,681,561 500,000,000 Placement with banks & other 6nancial inslirurions 500,000,000 Invcstmcnts in shar€s .nd eccurities [-.:-"-IT*tsI-::Tm Othcrs t7,062,255,301 18,662,255,301 217.088,809,042 (;cncral invcstmenc etc. Bills purchascd and discounrcd 11.117 Fixcd .6scts including p.crnis€s Oihcr assctg Non-banking ass€ts t1s8rJ:o.Srr I | 8.273.008.09: I 225,760,287,002 222,85,341 ,603 5.645,077,043 5,669 ,954,136 10,625,892,540 9,819,399,766 ____22u!&!!21!' __?2!J1IJM!5 Totrl prop€ny & .8scrs LIABILITIES & CAPITAL UabiliricB Placemcnr frcD bai (s & orhci finarci.l institutions Deposits rnd othe. accounto 11,14 Ir{udaraba saungs deposits 130,646,17 6,248 I'ludrraba rcrm deposirs Other Mudaraba Deposits Al wadccah current aod orhcr deposit accounts 130,292,135,281 70,566,558,907 31 ,97 69,392,210,291 30,413,838,851 6,',790,585 1\9.182,161 Bills payablc 248,540,443,218 2,500,000,000 \ludanba Subordnated Bond 2,500,000,000 14.121.494.163 11.067.104,605 268,9t6,779,360 264,107,10,823 Oth.r liabilitics ffiffi Total liabilities Capi.d/shareholde.s' cquity Paid up capital Retarncd tamings 25,752,110,092 Total sh.r€holders' equity Tot.l liabiliti€s and sharcholders' €quity Offbelancc rheet items 26,538,198,232 ___2!r68]8e)4s2 _229,!1I21!J!!_ Contingcnt liabilities: Acceptaflcc and endorsmenrs l,ctters of gurrmtee Irrcvocablc lctters of crcdit Bills for collectioo Orhcr conungent habilirics 15,515,431,168 5,395,7 50,211 29,116,718,435 4,469,692,990 70,600,458,423 Tot.l cootingent liabili.ics Other commitmcnts Toral oflbalance shcct itcm3 ______r!t!112?.!!_ __t!,!!9ri!r23 5
7. EXPORT IMPORT BANK OF BANGI-ADESH LIMITED Ptofit and [-oss Account (Un-audited) for the penod ended 31 March 2017 Taka March 2017 March 2016 Particulars Invcstmcnt income Profit pard on deposits, borrowings, ctc. Net iovestmcnt income Incomc from investment in sharcs/sccuntles Commission, cxchange and brokcragc 4,953,117,838 5,321,316,413 766.109 7,187,004,622 1,465,482,67 4 I 15,518,'100 15,518,099 511.616,431 423,385,493 126,682,466 108,060,938 769,187,009 $1,1A5,648 138,891241 106,851,179 1,406,330 (]ain on salc ofinvestmcot in shalcs Othcr opcrating income Total operating income (A) Opcrating expenses Salaries and allowances Rcnt, taxes, insurance, electricir,v etc. Lcgal cxpcnses Pi,stag(. st.lmp & 1,318,488 22,419,747 Ielrcommunicaor,ns ct(. Auditors fccs Stationcry, printing, advertisemcnt, ctc. l\lanaging [)ircctor's remunelatron Nlanagrng t)irector's fces 52,551,427 20,502,856 58,67 4,249 4,861,000 4,562,000 583,629 83,700 426225 58,358,824 Zakat cxpcnses 60,064,846 81,478,402 Other cxpenses 281.531.911 Directrrs' fccs and expenses Shariah Supervisory Committee's I;ccs Charges on Investmmt l,osses & Expenses Dcprcciation on and repairs to Bank's assets 121,930 Total opcrating expenses (B) Profi t/(loes) bcfore prol.ision (C=A-B) Provision for investrncnts and ()ff-llalance Shcct l']<rvisnn fot diminution in valuc of sharcs Total Provision (D) Total profit/(loss) before taxes (C-D) (731,088,140) t Provision for tax l-----1niG,46ll 55,000,000 129,706,463 siooo,oo l (786,088,140) Net profit/(loss) after tax 279,832,908 90,126,445 Rctaincd camrngs broughr forward trom prcvious vear 2,438,730,108 2,1 7 5,063 ,525 Profit available for approprietion 1,652,641,968 2,265,189,910 Appropriations: 43,966,582 Statutory reserve Issuc of boous shares 1,6s2.641,968 Retained eamings caried forward Eamings per ordinary sharc anaging Director & CFO J+/? "EoAyLdy 0r1A!ot-rJ 6 <---i - Secretary 43,966,582 2,221.223.388 Managing Director & QpO
8. EXPORT IMPORT BANK OF BANGI .ADESH LIMITED Cash Flow Statement (Un-audited) for the penod cndcd 31 \larch 2011 Taka March 2017 March 2016 Particulars A) Ca6h flonrs from operating activities 5,342,116,413 lnvcstment income receipts I'ro6t peid on deposits, borrowings, ctc. (2,165,618,9 Diudcnd rcccipts (3,491 ,604,146) 15,518,100 15,518,099 423,385,493 511,616,431 Irccs and commission receipts (642,347 {)ash pryment to employees (2,897 Oash pryment to suppliers Incomc tax pavments Rcccips from other oper.Eng ,clvities l)zymcnts for other operaring actruocs Cdsb Jlout b4orc cbdntca in operdting ass.tt dtd liabili (518,167,24 (411,610,41 126,331,213 106,507,479 I ia (i) 1,284,803,062 661,296,131 Changes in operating assets and liabilities: (Increase)/decrease in operating assets Statutory deposit 'l rading sccurity - shares Investmcnts to other banks (3,484,002,; (3,613,046, Invcstments to custornets Other (811,728,149) asscts Incr.ase/(decrease) in ope.ating liabilities (2,380,542,158) .+,934,953,879 l)cposits from other banks Doposus from customers l-iahrlints oo account of custooes 'l radmg lnb iEcs (borrowing) ()thcr l,rbilincs Total cbanges in operating dssets C, liabiliaies (1,620,818,188) (ii) (336,015,U6) Na casb lrom opetating ac,ieities (i+ii) B) Ca6h floll,s from investing activitics: Rccciprs from salc/cncrshment ofsecuntes - BGIIB l'aymcnt for pwchase of secuities-BGIIB I'urchrse of 6xed assets Sale procecds of fixed rsscts Purchasc of Subsidieaes Net cdsb lrotu ifioesting activities 4,560,610,789 (9,591,517,066) (8,933,250,632) l (l ,600,000,00o) (28,045,529) (60,464,20n 449,572 (t,627,495,951) 1,568,460 1,.191,104,253 C) Cash flow6 from Gnancing aciivitie6 Rcccipts from issue ofDebt Instruments Payment for redemption ofDebt Iflstrurncnts Rcceipts from issue of Ordinary Share/tught Share Diudcnd pard n Crsh Na casb from finatcing actioities D) Net increese/(decrease) in cash and cash equivalents (A+B+C) E) Efiecr ofExchange rete changes on cash and cash equivalcnts F) C.sh aod cash equivalents at beginning of thc ycat G) Cash .nd cash equii'alents at end ofthe yea. (D+E+F) H) C.6h and cash cquiva.lents (l.sh tlalancc *rrh othtr banks and (7, 9 ____llJziJlli!6 ____llJ]rt-!Jl0 29.595,210,184 781 Enancral rnsnrurions Secretary Managing Director & CEO **{) 7 29,064,137,313 .l
9. EXPORT IMPORT BANK OF BANGLADESH LIMITED Statement of Changes in Equity (Un-audited) for the penod ended 3l N{arch 2017 Ualancc at 1 lanl'.try 2017 P.id up cepital Statutory rceewe Revaluation reserue of Fixed Assete Genenl/ Other Taka ![aka Taka Taka Rcecrves* Total Retained carnings Taka Taka 14,122,510,680 1,846,410,118 2,067,771,666 62,'775,OOO 2,438,730,108 r4,122,510,6a0 7,846,410,778 2,067,?11,666 62,775,000 2,438,730,108 26,538,198,232 26,534,194,232 Changcs in acc<,unting policics Restated Balancc Surplu*/(Dcficrq ,'n \((,,unr ,,f l{(valuanr r l)r,tr( rn(\ Surplur/(l)cf'c't).,n \ccounr,,f I{cvaluan,,n,rf Invcstmcnr t iurrcncy trandrrron Jrffcrcncc Net Gain and I-osee6 nol r€cogrized ir the income (?86,088,140) I'rotrt for the pcriod 086,088,r40) Sttrk l)ividend prid dunng thc pcriod 'l ransfcrred to statutory rcscrvc Total Shareholdcrs Equity as on 31 March 2017 Total Shareholders Equity as on 3l March 14,122,510,6a0 7,846,410,7'18 2,067,711,666 62,7'75,000 1,652,641,968 25,752,110,092 2,061,?71,666 62,?75,000 2,221,223,388 25,388,15?,90t 14,122,510,680 6,9t3,417,167 2016 *Gcnctal Rcserve/Other Reserve Mar-16 Mar-17 (lcncral l{cscnc I)ividend I.)qu.rliz.rtion,\ccouot 62,775,000 62,77 5,O00 Total 62,715,000 62,775,000 Dcputy M Sectetarv /u) J}, Chairman 8
10. Export Import Bank of Bangladesh Limited Notes to the Financial Statements For the period ended 31 N {arch 2017 1.0 Status of the Bank 1.01 Legal Form ofthe Bank Export Import Bank of Bangladesh Limited was incorporated in Bangladesh on 02 June 1999 as Banking Company under the Companies Act 1994. The Bank converted its banking operation into Islamic Banking based on Islamrc Shanah ftom traditional banking operation on 01 July 2004 aftet obtaining approval from Bangladesh Bank. The Bank went for public issue of shares in the year 2004 znd its shares are listed with Dhaka Stock Exchange and Chittagong Stock Exchange. 1,02 Nature of Business The commercial banking activities of the Bank consist of services including mobilizing deposits, providing investment facilities, discounung bills, conducting money transfer, foreign exchange transactions and providing services like safe keeping, issuing guarantees, acceptances and Ietters of ctedit etc. The Bank carries out its bankrng activities through 113 (One hundred thirteen) Branches operating as pet Islamic Shariah in the country. 1.03 Subsidiaries The subsidiary companies of the Bank namely EXIM Exchange Company (LIR Ltd., EXIM Exchange Company (Canada) Ltd. and EXIM Islami Invesmrent Ltd. (EIIL) for conducting specified services to the customers. 2 (Iwo) foreign subsidiaries are fully owned by the bank to help expediting remittance flow in the county. EXIM Islami Investment Limited (EIIL), the only local subsidiary where Bank owns 99.9970 share wrth substantial control and rest 0.0170 is miroriry interest. EXIM Islami Investment Limited @,IIL) carries out merchant banking activities and conduct.ing specified services to the customefs. 1.04 Off-shore Banking Unit Off-shore Banking Units (OBUs) of Export Import Bank of Bangladesh Limited was govemed under the rules and guidelines of Bangladesh Bank. The Bank obtained Offshore Banking Unit permission vide letter no. BRPD g4)7 44(118) /2010-3861 & BRPD e)7 44(118) /2015-6018 dated 31 August 2010 & 11 August 2015 respectively. Bank commenced the Off-shore Banking Units (OBUs) services from Aprl 2012. Two Offshore Banking Units (OBUs) are located at Dhaka (I{otijheel & Gulshan) and another one is at Chittagong. OBUs maintain separate accounts in US Dollar' 2.0 Significant Accounting Policies 2.01 Basis of prepatation The operations of Export Import Bank of Bangladesh Limited and its subsidiaries ate govemed in compliance with the rules of Islamic Shariah. The consolidated financial statements and the separate financial statements of the Bank have been prepared basically as per provisions of the "Guide[nes for Islamic Banking" issued by Bangladesh Bank through BRPD Circular No. 15 dated 09 November 2009 with reference to the provisions
11. Export Import Bank of Bangladesh Limited Notes to the Financial Statements For the period ended 31 March 2017 of the Bank Company Act , 1991 as amended up to 2013 & Bangladesh Bank's other in accordance with Intemational Financial Reporting Standards circulars,/instructions and (IFRSs) adopted as Bangladesh Furancial Reporting Standards (BFRS$ by the Institute of Chartered Accountants of Bangladesh (ICAB); the Companies Act, 1994; the Securities and Exchange Rules 1987; Dhaka and Chittagong Stock Exchanges' Listing Regulations and other laws and rules applicable in Bangladesh. In case the requirement of guidelines and circulars issued by Bangladesh Bank differ with those of other regulatory authorities and financial reporting standards, the guideLines and circulars issued by Bangladesh Bank prevails. 2.O2 Investment and Provision Balance Sheet net off uneamed income. Provisions for investments are made as per instructions contained in Bangladesh Bank Circular. Investments are stated 2.03 in the Provision for diminution in value of shates Provision for investment in share is made on the basis of period-end review by the management and instructions flrom regulatory authorities. 2.04 Provision for corporate tax Provision for current tax has been made in the accounts @ 40o/o as per Finance Act 2016 of the accounting profit made by the Bank. 2.05 Off-balance sheet items Off balance sheet items have been disclosed under contingent liabilities and other commitrnents as per Bangladesh Bank guidehnes. Provisions on off balance sheet items have been made as per Bangladesh Bank Circular. 2.06 Eamings per share Eamrngs per share @PS) have been computed by dividing the basic eamings by the number of Ordinary Shares being calculated as per BAS-33. Previous year's figues have been adjusted as per Guidelines of BAS-33. 2.07 Cash flow statement Cash flow statement is prepared in accordance with BAS-7 "Cash Flow Statement" and the cash flow from operating activities has been presented under direct method prescribed by the Securities and Exchange Rules 1987. 2.08 Reporting period These Financial Statements cover the period ftom 1 January 2077 to 37 Mzrch 2017. l0 as