FSIBL is functioning with a highly professional management team headed by the Managing Director Mr. Syed Waseque Md. Ali. Among other senior executives, 01 AMDs, 02 DMDs, 01 Principal at Training Institute, 02 SEVPs, 04 EVPs, 13 SVPs, 31 VPs, 29 SAVPs, 54 AVPs and 109 FAVPs are discharging their services for achieving organizational goals. Top management of the Bank is supported by highly qualified and dedicated human resources numbering around 2537 officials (as on 31-july, 2016) in different grades.
For the smooth functioning of the Bank, the following committees have been formed:
- Management Committee (MANCOM) comprising of senior members of the management headed by the Managing Director of the Bank. Two Additional Managing Directors, Head of IAD, Head of IMRD, Head of BCS and Head of IC&CD are the member of the committee and the Head of HRD is the member secretary for the same. The committee meets on regular basis and discusses about policy formulation, modification of existing policies and others relevant issues.
- Asset Liability Management Committee (ALCO) headed by the Managing Director, is responsible for balance sheet risk management. The committee participates in the monthly ALCO meeting and, reviews the liquidity position, rate of interest on deposit and lending, and the ALCO papers on presentation by treasury back office on the position of profit, deposit, investment, cost analysis, maturity bucket of deposit & investment, balance sheet, profit and loss account and many other issues relating to banks business and assets-liability management. Five relevant divisional heads including DMDs are the members and VP & Head of Treasury of the Bank is the member secretary of the committee.
Human Resources Management
FSIBL being a third generation progressive Islamic Shariah Based private commercial bank, it always emphasizes on the development of its manpower to provide quality services to its clients. It believes that the factors which help the banks to survive and differentiate it from other banks are closely interlinked with the quality of services and satisfaction of clients and these depend on the qualification of employees, efficiency & effectiveness of work. As our human resources give the organization a significant competitive edge, we continue our policy of recruiting the best professionals and implement programs to develop and retain high quality employees for facing challenges of 21st Century. The bank is making equal opportunity for new talents in its process of recruitment and selection. It is continuing its efforts towards the development of its manpower by providing required trainings, workshops, seminar etc. in home and abroad to make them well equipped to provide quality services to its customers. It arranges training and workshop in home and abroad for its top management to formulate and implement appropriate policies for the betterment of the Bank. It also arranges priority-based trainings and workshops to make its employees compliant to its regulatory body and helps its employees for career development.
Corporate governance is about how corporation is running its operations to achieve its corporate objectives. Bangladesh Bank (BB) gives emphasis on implementing corporate governance among the financial institutions and to do so, BB emphasizes implementation of the guidelines issued by them for improving corporate governance in banking sector. Good Corporate Governance practices enhance an entity’s corporate image and market credibility, which attracts capital and increases its borrowing power. These can be reflected in the quality of financial reporting and disclosures; strength of internal control system and internal audit function induction of professionally competent, independent non-executive Directors on corporate Board; formation of Audit Committee; delegation of authority to executives and staff; protection of corporate governance for strengthening organizational strength. With a view to ensure effective participation and deep interest in the affairs of the company and as per Bangladesh Bank BRPD Circular No: 11, dated 27.10.2013 the bank has set up the following 3 committees:
- Executive committee
- Audit Committee
- Risk Management Committee
FSIBL has constituted 05 member executive committee of the board as per Bangladesh Bank guidelines to ensure corporate governance in the business of which managing director of the Bank is Ex-officio Member. The executive committee of the board is responsible for the development of policy and strategy regarding smooth operations and business expansion of the bank to maximize shareholders wealth and to protect other stakeholders’ interest in the company. Mr. Mohammed Saiful Alam, Chairman of the board of Directors, is also the Chairman of the present Executive Committee of the bank. He is a very dynamic person and leading the executive committee of the bank to protect the interest of the relevant parties and to ensure transparency in all levels.
FSIBL has formulated an audit committee which plays an effective role in formulation of efficient and secured banking system. The Audit Committee is comprised of three members of the Board of Directors. As per corporate governance guidelines, the Chairman of the Audit Committee has profound knowledge and expertise in the field of finance, accounting or auditing standard.
Risk Management Committee:
FSIBL has also formulated 03 members of Risk Management Committee as per Bangladesh Bank BRPD Circular No: 11, dated: 27.10.2013.