Islamic Finance and Investment PLC. announcements
488 Dhaka Stock Exchange announcements for Islamic Finance and Investment PLC. (ISLAMICFIN) since 2007: results, dividends, board meetings, AGMs, record dates and other price-sensitive information. Showing 2023 (29).
- (Q3 Un-audited): EPS was Tk. (2.16) for July-September 2023 as against Tk. (0.55) for July-September 2022; EPS was Tk. (
(Q3 Un-audited): EPS was Tk. (2.16) for July-September 2023 as against Tk. (0.55) for July-September 2022; EPS was Tk. (2.14) for January-September 2023 as against Tk. 0.07 for January-September 2022. NOCFPS was Tk. (1.84) for January-September 2023 as against Tk. (15.14) for January-September 2022. NAV per share was Tk. 11.92 as on September 30, 2023 and Tk. 14.33 as on September 30, 2022. (cont.)
- Q3 Financials
(Continuation news of ISLAMICFIN): Reasons for deviation in EPS, NOCFPS and NAVPS: EPS has been declined due to increase of provision and profit suspense against non-performing investment. NOCFPS has been improved during the period due to lower encashment of deposit in comparison to previous corresponding period. NAV has been decreased due to payment of Dividend for the year 2022 and Net loss during the current period. (end)
The first part of this announcement is missing from the archive. - Board Meeting schedule under LR 16(1)
As per Regulation 16(1) of the Dhaka Stock Exchange (Listing) Regulations, 2015, the Company has informed that a meeting of the Board of Directors will be held on October 22, 2023 at 4:00 PM to consider, among others, un-audited financial statements of the Company for the Third Quarter (Q3) period ended September 30, 2023.
- Emerging Credit Rating Limited (ECRL) has affirmed surveillance rating of the Company as \"A+\" in the long term and \"S
Emerging Credit Rating Limited (ECRL) has affirmed surveillance rating of the Company as \"A+\" in the long term and \"ST-2\" in the short term along with Developing outlook based on audited financial statements up to December 31, 2022 and other available information up to the date of rating declaration.
- Dividend Disbursement
The Company has informed that it has disbursed the cash dividend for the year ended December 31, 2022 to the respective shareholders.
- (Q2 Un-udited): EPS was Tk. (0.04) for April-June 2023 as against Tk. 0.32 for April-June 2022; EPS was Tk. 0.02 for Jan
(Q2 Un-udited): EPS was Tk. (0.04) for April-June 2023 as against Tk. 0.32 for April-June 2022; EPS was Tk. 0.02 for January-June 2023 as against Tk. 0.62 for January-June 2022. NOCFPS was Tk. (2.26) for January-June 2023 as against Tk. (13.42) for January-June 2022. NAV per share was Tk. 14.09 as on June 30, 2023 and Tk. 14.88 as on June 30, 2022. (cont.)
- Q2 Financials
(Continuation news of ISLAMICFIN): Reasons for deviation in EPS, NAVPS and NOCFPS: EPS has been decreased due to increase in provision and profit suspense against SMA and NPI. NAVPS has been decreased due to payment of dividend for the year 2022 from retained earnings. NOCFPS has been increased due to improvement of deposit movement compared to the previous corresponding period. (end)
The first part of this announcement is missing from the archive. - Board Meeting schedule under LR 16(1)
As per Regulation 16(1) of the Dhaka Stock Exchange (Listing) Regulations, 2015, the Company has informed that a meeting of the Board of Directors will be held on July 23, 2023 at 3:00 PM to consider, among others, un-audited financial statements of the Company for the Second Quarter (Q2) period ended June 30, 2023.
- Category Change
The Company will be placed in 'B' category from existing 'A' category with effect from July 02, 2023 as the Company has approved 5% cash dividend for the year ended December 31, 2022.
- Resumption after record date
Trading of the shares of the company will resume on 02.06.2023.
- Suspension for Record date
Trading of the shares of the company will be suspended on record date i.e., 01.06.2023
- Spot News
Trading of the shares of the company will be allowed only in the Spot Market and Block transaction will also be settled as per spot settlement cycle with cum benefit from 30.05.2023 to 31.05.2023 and trading of the shares will be suspended on record date i.e., 01.06.2023
- The auditor of the Islamic Finance & Investment Ltd. has given the \"Matter of Emphasis\" paragraph in the Auditor\'s Re
The auditor of the Islamic Finance & Investment Ltd. has given the \"Matter of Emphasis\" paragraph in the Auditor\'s Report for the year ended on December 31, 2022. Matter of Emphasis: We draw attention to the following matters, though our opinion is unqualified in respect of the same: a) As per section 234 of Bangladesh Labor Act 2006 as amended up to 2013 every company should establish a Workers Profit Participation Fund (WPPF) and Workers\' Welfare Fund (WWF) (cont.1)
- (Continuation news of ISLAMICFIN): within one month of being this chapter applicable if: i. The paid-up capital of the c
(Continuation news of ISLAMICFIN): within one month of being this chapter applicable if: i. The paid-up capital of the company as on the last day of its accounting year is one crore taka or more; and ii. The value of the fixed assets of the company at cost on last day of the accounting year is two crore or more. The company is not doing the same considering industry practice which has been described in note no 2.24; (cont.2)
The first part of this announcement is missing from the archive. - (Continuation news of ISLAMICFIN): b) Lease, loans and advances included Taka 3,727,062,778 as Short-Term Finance, Lease
(Continuation news of ISLAMICFIN): b) Lease, loans and advances included Taka 3,727,062,778 as Short-Term Finance, Lease Finance, Term Finance and Housing Finance in FICL 2, FICL 3A, FICL 3B, FICL 4A, FICL 4B, FICL 5A and FICL 5B. Apparently these loans sanctioned without any eligible security (means mortgage of land, Lien of Share). Which is represented total Lease, loans and advances\' 30.96\%; (cont.3)
The first part of this announcement is missing from the archive. - (Continuation news of ISLAMICFIN): c) As per International Accounting Standards (IAS)-19, in order to determine the liab
(Continuation news of ISLAMICFIN): c) As per International Accounting Standards (IAS)-19, in order to determine the liability of gratuity, actuarial valuation method has to be applied. As stated in note no. 2.27.02 to the financial statements, the IFIL maintains a gratuity fund for its employees under defined benefit plan. During the year under audit, the IFIL contributed Tk. 50,00,000 into the fund. (cont.4)
The first part of this announcement is missing from the archive. - (Continuation news of ISLAMICFIN): We observed that the IFIL has not applied actuarial valuation method for determining
(Continuation news of ISLAMICFIN): We observed that the IFIL has not applied actuarial valuation method for determining liability but we have checked cumulative required provision in line with IFIL gratuity policy where no short has been found; d) IFIL should develop their filing procedure and documentation for Lease, loans and advances. Note # 2.24: Workers Profit Participation and Welfare Fund: (cont.5)
The first part of this announcement is missing from the archive. - (Continuation news of ISLAMICFIN): Establishment of Workers Profit Participation and Welfare Fund (WPPF) is a matter of
(Continuation news of ISLAMICFIN): Establishment of Workers Profit Participation and Welfare Fund (WPPF) is a matter of Banking and Financial Institutions Sector as a whole. Ministry of Finance through its letter no.53.00.0000.311.22.002.17-130 dated February 14, 2017 and no: 53.00.0000.311.22.002.17-140 dated February 25,2018 expressed its opinion that Chapter 15 on \"Participation in Company Profits by Workers\" (cont.6)
The first part of this announcement is missing from the archive. - (Continuation news of ISLAMICFIN): in the Bangladesh Labor Act,2006 and amendments made therein on July 22, 2013 should
(Continuation news of ISLAMICFIN): in the Bangladesh Labor Act,2006 and amendments made therein on July 22, 2013 should not be applicable for Banks and Financial Institutions and requested to the Ministry of Labor and Employment to take necessary steps in this regard as well as not to apply the said chapter of Labor Act, 2006 for Banks and Financial Institutions. Therefore, like other Banks and Financial Institutions, IFIL did not recognize the WPPF. (cont.7)
The first part of this announcement is missing from the archive. - (Continuation news of ISLAMICFIN): Note # 2.27.02: Gratuity scheme: Islamic Finance and Investment Limited has a funded
(Continuation news of ISLAMICFIN): Note # 2.27.02: Gratuity scheme: Islamic Finance and Investment Limited has a funded gratuity for all eligible employees who have completed minimum 5 (five) years of continuous service with the Company. This scheme was approved by the National Board of Revenue (NBR) and is administered by an independent Board of Trustee. This fund is invested separately from the Company\'s assets. (cont.8)
The first part of this announcement is missing from the archive. - Matter of Emphasis
(Continuation news of ISLAMICFIN): Required amount of gratuity is calculated on the basis of last basic depending on the length of service for every completed year as well as proportionate to the fraction period of service as of the end of the respective financial year. Furthermore, employees who completed 05 years, 08 years, 10 years and above of services are entitled @ 01 month, 1.5 months and 02 months of last basic pay for each completed year respectively. (end)
The first part of this announcement is missing from the archive. - (Q1 Un-audited): EPS was Tk. 0.06 for January-March 2023 as against Tk. 0.30 for January-March 2022. NOCFPS was Tk. (1.8
(Q1 Un-audited): EPS was Tk. 0.06 for January-March 2023 as against Tk. 0.30 for January-March 2022. NOCFPS was Tk. (1.83) for January-March 2023 as against Tk. (4.98) for January-March 2022. NAV per share was Tk. 14.63 as on March 31, 2023 and Tk. 15.61 as on March 31, 2022. The company has further informed that EPS declined due to increase of provisioning and profit suspense against investment. (cont.)
- The Board of Directors has recommended 5\% Cash Dividend for the year ended December 31, 2022. Date of AGM: 26.06.2023,
The Board of Directors has recommended 5\% Cash Dividend for the year ended December 31, 2022. Date of AGM: 26.06.2023, Time: 11:00 AM, Venue: Digital Platform. Record Date: 01.06.2023. The Company has also reported EPS of Tk. 0.30, NAV per share of Tk. 14.56 and NOCFPS of Tk. (16.92) for the year ended December 31, 2022 as against Tk. 1.32, Tk. 15.31 and Tk. (1.87) respectively for the year ended December 31, 2021. (cont.)
- Q1 Financials
(Continuation news of ISLAMICFIN): NOCFPS was negative during the period due to outflow of deposit and lower recovery against investment. NAVPS declined due to negative growth of earnings. (end)
The first part of this announcement is missing from the archive. - Price Limit Open
There will be no price limit on the trading of the shares of the Company today (14.05.2023) following its corporate declaration. However, the floor price shall be applicable accordingly.
- Dividend Declaration
(Continuation news of ISLAMICFIN): Reasons for deviation in EPS, NOCFPS and NAVPS: EPS declined due to increase of provisioning and profit suspense against investment. NOCFPS was negative during the period due to outflow of deposit and lower recovery against investment. NAVPS declined due to negative growth of earnings. (end)
The first part of this announcement is missing from the archive. - Board Meeting schedule under LR 19(1)
As per Regulation 19(1) of the Dhaka Stock Exchange (Listing) Regulations, 2015, the company has informed that a meeting of the Board of Directors will be held on May 11, 2023 at 3:00 PM to consider, among others, audited financial statements of the company for the year ended December 31, 2022.
- Board Meeting schedule under LR 16(1)
As per Regulation 16(1) of the Dhaka Stock Exchange (Listing) Regulations, 2015, the Company has informed that a meeting of the Board of Directors will be held on May 11, 2023 at 3:00 PM to consider, among others, un-audited financial statements of the Company for the First Quarter (Q1) period ended March 31, 2023.
- Share Transmission Completion of Deceased Sponsor
The Company has further informed that 5,08,782 shares of Late Md. Shafiqul Islam, one of the Sponsors of the company, have been transmitted among his successors according to the Succession Certificate issued by the Honorable Court as news disseminated on 29.12.2022.
Source: Dhaka Stock Exchange announcements. Some posts before 2014 have no title, and 2014–2020 coverage is incomplete.