Islami Bank sees record trade of stocks at CSE

Islami Bank's stock made a record yesterday as Tk 524 crore worth of shares of the lender were traded at the Chittagong Stock Exchange (CSE).

The price of Islami Bank share remained unchanged yesterday like the previous day at Tk 32.3 at the CSE where 16.34 crore shares of the shariah-based bank changed hands.

A top official of the CSE, preferring anonymity, confirmed that the shares were traded at the block market and the share has been transferred among the corporate owners of the bank.

A foreign investor is selling shares and a local corporate is taking the stake, the official added.

Recently, Saudi investor Arabsas Travel & Tourist Agency has withdrawn its directorship from the board of Islami Bank Bangladesh PLC.

However, the Saudi investor did not disclose any intention to sell-off its stake.

The Arabsas owns 16.09 crore shares of Islami Bank, or 9.99 percent of the total.

The bank's share trading brought a record for the CSE's turnover as it crossed Tk 533 crore yesterday and its highest ever turnover record was Tk 530 crore on June 21 of 2023, the CSE data showed.

Previously in last June, state-run non-bank financial institution Investment Corporation of Bangladesh (ICB) sold its entire shareholdings in Islami Bank.

ICB held more than 32 lakh shares—which accounted for 2.07 percent of the total shares—worth approximately Tk 109 crore.