Northern Islami Insurance PLC. announcements
294 Dhaka Stock Exchange announcements for Northern Islami Insurance PLC. (NORTHRNINS) since 2008: results, dividends, board meetings, AGMs, record dates and other price-sensitive information. Showing 2023 (28).
- (Q3 Un-audited): EPS was Tk. 0.51 for July-September 2023 as against Tk. 0.53 for July-September 2022; EPS was Tk. 1.52
(Q3 Un-audited): EPS was Tk. 0.51 for July-September 2023 as against Tk. 0.53 for July-September 2022; EPS was Tk. 1.52 for January-September 2023 as against Tk. 1.51 for January-September 2022. NOCFPS was Tk. 3.90 for January-September 2023 as against Tk. 6.47 for January-September 2022. NAV per share was Tk. 23.69 as on September 30, 2023 and Tk. 21.50 as on September 30, 2022. (cont.)
- Q3 Financials
(Continuation news of NORTHRNINS): Reasons for significant deviation in NOCFPS: NOCFPS has been decreased due to indicator of income was decreased in the period than the previous period. (end)
The first part of this announcement is missing from the archive. - Reschedule of Board Meeting under LR 16(1)
The Company has further informed that due to unavoidable circumstances the meeting of the Board of Directors of the Company as per Regulation 16(1) of the Dhaka Stock Exchange (Listing) Regulations, 2015, will be held on October 30, 2023 at 2:30 PM instead of October 29, 2023 at 2:30 PM to consider, among others, un-audited financial statements of the Company for the Third Quarter (Q3) period ended September 30, 2023.
- 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 29, 2023 at 2:30 PM to consider, among others, un-audited financial statements of the Company for the Third Quarter (Q3) period ended September 30, 2023.
- Election of Chairman
The Company has informed that the Board of Directors has elected Mr. Mortuza Siddique Chowdhury as the Chairman of the company.
- Q2 Financials
(Q2 Un-audited): EPS was Tk. 0.33 for April-June 2023 as against Tk. 0.32 for April-June 2022; EPS was Tk. 1.02 for January-June 2023 as against Tk. 0.97 for January-June 2022. NOCFPS was Tk. 3.26 for January-June 2023 as against Tk. 2.56 for January-June 2022. NAV per share was Tk. 24.18 as on June 30, 2023 and Tk. 21.97 as on June 30, 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 July 27, 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.
- Resumption after record date
Trading of the shares of the company will resume on 28.05.2023
- Suspension for Record date
Trading of the shares of the company will be suspended on record date i.e., 25.05.2023
- 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 23.05.2023 to 24.05.2023, and trading of the shares will be suspended on the record date i.e., 25.05.2023.
- ARGUS Credit Rating Services Limited (ACRSL) has rated the Company as \"AAA\" in the long term and \"ST-1\" in the short
ARGUS Credit Rating Services Limited (ACRSL) has rated the Company as \"AAA\" in the long term and \"ST-1\" in the short term along with Stable outlook based on audited financial statements of the Company up to December 31, 2022.
- The auditor of the Northern Islami Insurance Limited has given the \"Emphasis of Matters\" paragraph in the Auditor\'s R
The auditor of the Northern Islami Insurance Limited has given the \"Emphasis of Matters\" paragraph in the Auditor\'s Report for the year ended December 31, 2022. Emphasis of Matter: a) We draw attention to note 3.17 of the Financial Statements, which describes the reason for not establishing Workers\' Profit Participation Fund by the Company according to the Labor Act, 2006 (as amended in 2013 and 2018); (cont.1)
- (Continuation news of NORTHRNINS): b) Management has described the reason for not performing impairment test in accordan
(Continuation news of NORTHRNINS): b) Management has described the reason for not performing impairment test in accordance with IFRS 9 regarding the investment on FDR in People\'s Leasing and Financial Service and International Leasing and Financial Service Ltd. carrying at BDT 1,600,000 and BDT 1,46,54,746 respectively as at December 31, 2022 in note 10.1.1 and 10.1.2 of the financial statements; and (cont.2)
The first part of this announcement is missing from the archive. - (Continuation news of NORTHRNINS): c) As disclosed in note 3.22 to the financial statements where it has been described
(Continuation news of NORTHRNINS): c) As disclosed in note 3.22 to the financial statements where it has been described the reason for departure from IFRS 16 during the year in the financial statements. Our Opinion is not modified in respect of the matters emphasized. Note # 3.17: Employment Benefits [IAS 19]: The company\'s employment benefits to eligible employees comprise of recognized contributory provident fund and group insurance scheme. (cont.3)
The first part of this announcement is missing from the archive. - (Continuation news of NORTHRNINS): Assets of provident fund are held under separate trustee as per the provident fund ru
(Continuation news of NORTHRNINS): Assets of provident fund are held under separate trustee as per the provident fund rules. Provident Fund is contributed by the employees and the company at pre-determined rates. Employees are entitled to get company\'s contribution to provident fund after completion of minimum five years of service in the company. The company\'s contributions to the provident fund, (cont.4)
The first part of this announcement is missing from the archive. - (Continuation news of NORTHRNINS): group insurance and provision for gratuity have been charged as revenue expenditure.
(Continuation news of NORTHRNINS): group insurance and provision for gratuity have been charged as revenue expenditure. Gratuity is being paid on cash basis. Workers\' Profit Participation and Welfare Fund: Section 234 of chapter 15 of Labor Law 2006 (as amended in 2013) requires every company to establish a workers\' Participation Fund and Welfare Fund. However, BFID, on behalf of the financial institution sector, (cont.5)
The first part of this announcement is missing from the archive. - (Continuation news of NORTHRNINS): requested clarification from the Labor Ministry regarding the applicability of the pr
(Continuation news of NORTHRNINS): requested clarification from the Labor Ministry regarding the applicability of the provisions for the sector. Similarly, Bangladesh Insurance Association has corresponded with Financial Ministry on this matter requesting for exemption for Insurance Companies. As on 2nd June 2021, IDRA issued a letter to the minister of finance department in which they requested to give exemption from the section 234 of chapter 15 of Labor Law 2006 (cont.6)
The first part of this announcement is missing from the archive. - (Continuation news of NORTHRNINS): (as amended in 2013). As no decision has been yet concluded on such communications, w
(Continuation news of NORTHRNINS): (as amended in 2013). As no decision has been yet concluded on such communications, we are yet to provide for the said provision. Note # 10.1.1: As Government of Bangladesh or any Court of Law has not yet been declared insolvent any of the above mentioned Banks/Financial institutions due to liquidity crisis, the management of the Company assumed that all above mentioned financial assets will be recoverable and (cont.7)
The first part of this announcement is missing from the archive. - (Continuation news of NORTHRNINS): any impairment loss relating to said investments may be considered as and when Govt./
(Continuation news of NORTHRNINS): any impairment loss relating to said investments may be considered as and when Govt./Court of Law may resolve. Note # 10.1.2: Peoples Leasing and Financial Services Limited (PLFSL), which commenced its operation in 1996, faced a wide range of financial scams from 2004, which forced the central bank to appoint an observer in 2015. The central bank removed five directors of the NBFI in 2015 for their alleged involvement (cont.8)
The first part of this announcement is missing from the archive. - (Continuation news of NORTHRNINS): in the embezzlement of Tk. 358 crore. Now, the HC has appointed Kamal-UI-Alam, a seni
(Continuation news of NORTHRNINS): in the embezzlement of Tk. 358 crore. Now, the HC has appointed Kamal-UI-Alam, a senior lawyer of the Supreme Court, as PLFSL chairman and Mohammad Jalaluddin, a former managing director of Ansar VDP Unnayan Bank, as managing director. This whole issue under the supervision of the High Court of Bangladesh and that\'s why we can\'t provide any kind conclusive evidence to the auditor regarding the FDR (Tk. 16,00,000) of PLFSL. (cont.9)
The first part of this announcement is missing from the archive. - (Continuation news of NORTHRNINS): Note # 3.22: Leases: Financial Reporting Principles IFRS 16 Leases effective from ann
(Continuation news of NORTHRNINS): Note # 3.22: Leases: Financial Reporting Principles IFRS 16 Leases effective from annual periods beginning on or after January 01, 2019 has changed how the company accounts for its lease contracts. The company leases a number of office space in addition to service sites. Before the adoption of IFRS 16, all lease contracts were classified as operating leases. (cont.10)
The first part of this announcement is missing from the archive. - (Continuation news of NORTHRNINS): IFRS 16 requires all contracts that contain a lease to be recognized on the balance s
(Continuation news of NORTHRNINS): IFRS 16 requires all contracts that contain a lease to be recognized on the balance sheet as a right-of-use asset and lease liability. Only certain short-term and low-value leases are exempted. In compliance with the standard, the company has assumed to use the recognition exemptions in the standard for short-term leases and leases of low value items. (cont.11)
The first part of this announcement is missing from the archive. - Emphasis of Matters
(Continuation news of NORTHRNINS): Due to this reason, the leases have accounted for as short term leases and the lease payments associated with them are recognized in note 25 as office rent expenses of Taka 11,221,015 including VAT. (end)
The first part of this announcement is missing from the archive. - Q1 Financials
(Q1 Un-audited): EPS was Tk. 0.69 for January-March 2023 as against Tk. 0.65 for January-March 2022. NOCFPS was Tk. 1.29 for January-March 2023 as against Tk. 0.62 for January-March 2022. NAV per share was Tk. 23.85 as on March 31, 2023 and Tk. 21.64 as on March 31, 2022. NOCFPS increased due to increase of net premium and investment income. NAVPS increased due to revaluation of office floor space.
- Dividend Declaration
The Board of Directors has recommended 10% Cash dividend for the year ended December 31, 2022. Date of AGM: 27.07.2023, Time: 11:00 AM, Venue: Digital Platform. Record Date: 25.05.2023. The Company has also reported EPS of Tk. 1.80, NAV per share of Tk. 23.16 and NOCFPS of Tk. 6.25 for the year ended December 31, 2022 as against Tk. 1.76, Tk. 21.00 and Tk. 3.75, respectively for the year ended December 31, 2021.
- Price Limit Open
There will be no price limit on the trading of the shares of the Company today (30.04.2023) following its corporate declaration. However, the floor price shall be applicable accordingly.
- 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 April 29, 2023 at 1:00 PM to consider, among others, un-audited financial statements of the Company for the First Quarter (Q1) period ended March 31, 2023.
- 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 April 29, 2023 at 1:00 PM to consider, among others, audited financial statements of the company for the year ended December 31, 2022.
Source: Dhaka Stock Exchange announcements. Some posts before 2014 have no title, and 2014–2020 coverage is incomplete.