Bangladesh economy cannot go forward without Islami Bank and people of the country have confidence on the financial institution, Bangladesh Bank Governor Ahsan H Mansur said today.

"Islami Bank is the number one bank of the country. The bank has turned around within the shortest time and is now going forward smoothly. This bank will not look back anymore," he said.

The central bank governor made the comments while inaugurating a new branch of Islami Bank in Ghatail upazila of Tangail as the chief guest.

"One-fourth of the country's population is closely connected with Islami Bank. The opening of the 400th branch is a significant achievement for the bank," the governor said.

"We have been working to recover the banking sector from its previously devastating situation. Islami Bank has made remarkable progress compared to its condition five months ago."

Mansur said Islami Bank was established as an international bank with the involvement of foreign investors.

The governor hoped Islami Bank will come back as an international bank again, as the financial institution has the potential to be 10 times larger.

Islami Bank has a countrywide network of 400 branches, 265 sub-branches, 2,800 agent outlets and more than 3,000 automated teller machines/cash recycling machines, said Obayed Ullah Al Masud, chairman of Islami Bank.

"It is a symbol of its popularity. The employees of this bank work with honesty and sincerity. It is very rare to find so many honest and competent people under the same umbrella," Masud said while presiding over the programme.

He also stated that Islami Bank has been contributing to the development of the rural economy through its rural development scheme, which operates across 34,000 villages in the country.

"We want to extend this service to 68,000 villages."

Md Abdul Jalil, chairman of the executive committee of the bank; M Masud Rahman, chairman of the risk management committee; Md Abdus Salam, chairman of the audit committee, and Mohammad Khurshid Wahab, independent director, were present at the opening of the branch as special guests.

Mohammed Monirul Moula, managing director of the bank, delivered a welcome speech at the programme, where Mohammad Abdus Samad, member secretary of Shariah supervisory committee, presented a keynote speech on welfare-oriented banking.

Md Omar Faruk Khan, Md Altaf Hossain and Mohammad Jamal Uddin Mazumder, additional managing directors; Md Hosni Mobarak Babul, principal of AIM City Residential School and College; Md Russell Mia, owner of the bank's Brahman Shasan bazar agent outlet, and Md Rafiqul Islam, a local businessman, along with executives and officials of the bank, were also present.