NEIS Non Resident Bangladeshi Entrepreneurs Investment Scheme : Islami Bank

Organization : Islami Bank Bangladesh Ltd
Facility : NRB (Non Resident Bangladeshi) Entrepreneurs Investment Scheme (NEIS)
Country : Bangladesh

Website : islamibankbd [dot] com

NEIS :

Islami Bank Bangladesh Limited (IBBL) being a welfare oriented financial institution has been offering a broad spectrum financial facilities to the business houses and individual clients from the very beginning.

Related : Khidmah Card Islami Bank Bangladesh : www.statusin.org/27000.html

It has introduced several investment schemes for different strata and cross sections of people for their socio-economic uplift and improvement of their quality of living standard.

Our country is fortunate that a lion share of our foreign currency generates from the earnings of expatriates contributing to the Countrys GDP and foreign currency reserve.

But it is discouraging that a major portion of the Wage-earners remittances are spent in unproductive sector and remain idle and thereby the nation is being deprived from the desired benefit therefrom.

With a view to encouraging the NRBs to invest their hard earned money in the productive sectors/areas for their own benefit as well as for the benefit of the nation as a whole, the authority has been pleased to introduce the subject Investment Scheme.

Objectives :
** To extend investment facilities to Bangladeshis (NRBs) working abroad temporarily or permanently and remit foreign currencies through IBBL, intending to invest in Bangladesh.

** To patronize NRBs to invest in the homeland and thereby contribute to the GDP towards growth and development of the country.

** To promote SME investments
** To develop rural areas in particular

** To encourage inflow of foreign remittances through banking channel and to curb money laundering.
** To invest in productive sectors

** To create employment opportunities for NRBs on their return & their children.
** To diversify Banks investment portfolios.
** To create entrepreneurship development

** To help undertake income generation and labour intensive projects / programmes / schemes with a view to alleviate poverty and provide employment opportunities to the youths.

** To encourage development of indigenous and traditional industries including cottage and handicrafts etc. undertaking for socio-economic development of the low income groups.

** To help invest in growing, thirst and priority sectors.

Eligibility of the clients :
** Non Resident Bangladeshi within age limit of 18 to 60 years.
** Bangladeshi citizens resided in abroad for long time, remitted foreign currencies through IBBL channel and now in Bangladesh.

** Family members of the NRB i.e. Spouse, Sons and/or Daughters who is/are maintaining A/C with IBBL with the remittance of NRB routed through IBBL.

Purpose of Investment :
** Establishment of manufacturing/service industries/processing & BMRE thereof
** Working Capital to run the projects/or any ready projects
** Trade financing.

Investment Limit :
** Investment range shall be from Tk.0.05 million to Tk.100.00 million

Modes of Investment :
Bai-Murabaha, Bai-Murabaha (TR), Bai-Muajjal, Bai-Salam, Bai-As-Sarf, Hire-Purchase under Shirkatul Melk (HPSM), Musharaka, Mudaraba, MDB.

Equity :
** Capital Machinery : 80:20 (Bank : Client) Project-Building/Structure: 40:60 (Bank: Client)
** Murabaha/MPI : 25% (By the client)

** LC/Bills : 10% (minimum)
** Transport : 60:40 (Bank: Client) and other terms and conditions as per Transport Investment Scheme (TIS).

Rate of Return :
** The rate of return shall be 12% or to be determined by the Bank from time to time.

Areas of Investment :
Booster Sectors (as declared by the Government) :
** Electrical and Electronics
** Software Developing
** Light Engineering and Metal Engineering

** Agro-processing/Agri-business/Plantation/Agriculture/Tissue Culture
** Leather products
** Knit Wear and Ready made garments

** Plastic and other synthetics
** Health Service and Diagnostic
** Education

** Medicine/Perfume/Chemicals
** Designer and Fashion wear