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In the Name of Allah, Most Gracious, Most Merciful
And say, go on doing (as you like), Allah will surely keep an eyeon your deeds and so will his messenger and the believers
Verse 105 (Surat Al-Tawbah)
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At the Islamic Bank, we Endeavour for the comprehensiveness of Islam in order to achieve pioneering in the banking performance by talent-developing of the human being and utilizing the on-going banking technology and contributing in achieving the desired economical and social development so as to provide integral solutions that satisfy concerned stakeholders.
ThE VIsIon (We look forward to see the Bank in the foremost part of the sudanese banks.)
ThE MIssIon
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no. subject Page1 Directory Of The Head Quarter And Branches ........................................ 42 A map showing geographical spread of branches .................................... 53 Board of Directors ................................................................................... 64 Sharia’a Supervisory Board ..................................................................... 75 Executive Management ........................................................................... 86 Economic Developments in 2013 ............................................. 117 The Address of Mr./ Chairman of Board of Directors in front of 24th
general assembly .....................................................................................13
8 Financial Indictors (2011 - 2013) ............................................................. 159 General auditors reports ........................................................................... 1610 Statement of Financial position as at 31/12/2013 ................................... 1811 Income Statement for the year Ended 31/12/2013 ................................. 1912 Statement of Cash flows for the year Ended 31/12/2013 ....................... 2013 Statement of Changes in owners’ equity for the year Ended 31/12/2013 2114 Notes on Financial Statements ................................................................ 2215 Sharia’a Supervisory Board’s report ....................................................... 3816 Resolutions of the 24th Shareholders’ General Assembly ..................... 3917 Foreign Correspondents .......................................................................... 40
ConTEnTs:
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head Quarters’ Addresses:Elsayed Abdurrahman St. Eastern Khartoum- SudanTel: (+249-183) 779078 – 774728 - 771735 Fax: (+249-183) 784282 – 773585 - 766470Swift: (isbssdkh) P.O Box: 10036, Khartoum- Sudan Postal Code: 11111Website: www.shib.sdE-mail: [email protected]
oPErATIng BrAnChEs
Branch Tel FaxTower 795721 (+249 - 183) 795720 (+249 - 183)Khartoum 783043 (+249 - 183) 785098 (+249 - 183)Alsouque Alarabi (Kh). 783921 (+249 - 183) 783925 (+249 - 183)Industrial Area (Kh). 472837 (+249 - 183) 472849 (+249 - 183)Saggana 487958 (+249 - 183) 460714 (+249 - 183)Alsouque Almahali 420183 (+249 - 183) 420182 (+249 - 183)Elkalakla 722002 (+249 - 183) 722002 (+249 - 183)International University of Africa 731048 (+249 - 183) 731049 (+249 - 183)Omdurman 553330 (+249 - 187) 554606 (+249 - 187)Souque Shabi Om. 454156 (+249 - 187) 997051 (+249 - 153)Souque Libya 730515 (+249 - 187) 730514 (+249 - 187)Indus. Area (Kh. North). 330582 (+249 - 185) 331141 (+249 - 185)Souque «6» 819296 (+249 - 120) 117213 (+249 - 155)Port- Sudan. 826042 (+249 - 311) 826046 (+249 - 311)Wad Medani 840445 (+249 - 511) 840445 (+249 - 511)Kosti 824645 (+249 - 571) 824850 (+249 - 571)Gedarif 843481 (+249 - 441) 843479 (+249 - 441)Dongola 823839 (+249 - 241) 822292 (+249 - 241)Alhafeer 730149 (+249 - 183) 730148 (+249 - 183)Alobaid 843910 (+249 - 611) 843920 (+249 - 611)
subsidiary Companies:Modern International Co.Khartoum – block no.6 property no.4 third floor west to waha of khartoumTel: (+249-183) 776768 – 785793Fax: (+249-183) 776026P.O. Box: 011235E-mail: [email protected]
DIrECTory oF ThE hEAD QuArTEr AnD BrAnChEs
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A MAP shoWIng gEogrAPhICAl sPrEAD oF BrAnChEs
Kosti
Wad Madani
Alobaid
Gadarif
Port Sudan
Alhafeer
Dongola
operatig Branches in Khartoum state TowerKhartoumAl Souque AlarabiIndustrial Area (kh)SagganaAl Souque AlmahaliAlkalaklaIndustrial Area (kh. North)OmdurmanSouque shabi (Om).Souque Lybia
Souque «6»International University of Africa
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Chairman of the Board of Directors
Mr. Al Bagir yusuf Mudawi
BoArD oF DIrECTors
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2- Dr. Ziyada Abdullah Ziyada.3- Mr. Ahmed Ali Ahmed Alhussain. 4- Mr. Bader El Dien Salih Abdul Rady.5- Mr. Abdullah Idrees Fadul Idrees.6- Mr. Suleiman Mohamed Ahmed Mohamed.7- Eng. Ibrahim Musa Al- Khalifa.8- Mr. Abd Elaziem Hassan Mohamed.9- Mr. Mohamed Yahiya Mohamed El Jaldi.10- Dr. Abdul Rahiem Mohamed Bakhiet.
secretary of the Board of Directors11- Mr. Mohamed Bushra Khalafalla
sharia supervisory Board: 1- Dr. Mohammed Alfatih Hamid Chairman2- Dr. Ahmed Ibrahim Hamad Alturabi Member3- Dr. Abdel Wahid Osman Mustafa Member4- Mr. Mohamed Kamal Eldien Abd Elmajid Reporter
legal Advisor:Mr. Mutasim Hassan Mahgoob. legal Auditor:Messrs: the National Audit Chamber
BoArD MEMBErs:
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ExECuTIVE MAnAgEMEnT
gEnErAl MAnAgEr
Mr. hassan Mohamed Al-hassan El-amien
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Deputy general Manager
Mr. Abdulbaqi Dafa Allah El-amien
general Manager’s Assistants
Mr. Abdullah Noureddin Ahmed Mohamed
Mr. Kamal El-Sheikh Al-Tayeb Mohamed
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1- Mr. A’arif Mohamed Bashir Ali Tower2- Mr. Kamal Abd Allah Mohamed Abd El-Qadir Alsouque Almahali3- Mr. Hider Abd El-Wadood Mohamed Khartoum Industrial Area
4- Mr. Abd Allah Mohamed El-Hassan Ahmed Omdurman5- Mr. Osman Sa’ied Haj Noor Khartoum 6- Mr. Abd El-Aziz Elhaj Ahmed Saggana7- Mr. Abd El-wahab Mohamed Abd El-Kariem Souque Libya8- Mr. Abd El-Moniem Ibrahim Al-Sheikh Babikir Indus. Area (Kh. North).9- Mr. Mutawakil Ahmed Mohamed Ahmed Suhaib Port – Sudan10- Mr. Sir Al-Khatim Hassan Sir Al-Khatim El-Kalakla11- Mr. Ibrahim Elhaj Ibrahim Arabi Kosti12- Mr. Salah Mustafa Mohamed Abd El-Kariem Souque Shabi Om.13- Mr. Mohamed Ahmed Mohamed El-Sheikh Alsouque Alarabi (Kh).14- Mr. Salah Eldien Ibrahim Sheikh Ibrahim Gedarif15- Mr. Mamoon Mohamed karar osman International University of Africa16- Mr. Nazar Mohammed Alzain Abdulrahman Alobaid17- Mr. Jamal Hassan Osman Salw Wad Maddani18- Mr. Haisar Mahmoud Hussein Ismail Souque “6”19- Mr. Abd El-Haliem Bashier Haroon Bashier Dongola20- Mr. Abd El-Muhsin Abdel Aziz Fagier Ahmed Alhafeer
MAnAgErs oF DEPArTMEnTs:
1- Mr. Hassan Mahmud Ahmed Abd El-Ghafar Legal Affairs2- Mr. Ghazi Abdel Hay Bin Oaf Abd El-rahiem External Relation & Foreign Currency3- Mr. Salah Said Ahmed Bandi Executive Office4- Mr.Ahmed Abdel Hay Mohamed Ahmed Banking Affairs & Branches5- Mr. Ali Hassan Hammad El-Hussain Human Resources6- Mr. Satti Mohammed Satti Hamad Ziyada Information Technology7- Mr. Mutasim Abdel Aziz Fagier Ahmed Internal Control and Inspection8- Mr. Osama Ali Ibrahim El-Sadiq Financial Affairs 9- Mr. Mohamed Al-Hussain Ahmed Ja’al Training &Quality Control10- Mr. Salaheldien Hassan Ahmed Khalid Administrative Affairs 11- Mr. Osama Mohamed Said Ahmed Investment & Finance12- Mr. Badr Mohamed Al-Jack Al-Abbas Planning & Research13- Mr. Khalid Mohamed Adam Mohamed Marketing & Public Relations14- Dr. Abdu Ajlan Babikir Salama Risk Department15- Mr. Mubarak Mamoon Abd Al-Samad Compliance Officer
BrAnChEs MAnAgErs
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World Economy:growth rate: The international growth rate is still weak by the end of the year 2013; it reached 2.9% compared with 3.2% for the year 2012. It is expected to increase to the rate 3.6% for the year 2014. However that was consequences of monetary policies of American Federal Reserves which resulted in pursuit of extreme policies in some emerging market economies to deal with the issue of capital outflows, this by the way entails to retreat the economic growth expectations .the reasons for the weaken growth may include tightening capacity constraints, stabilizing of raw material prices, less policy support and slowing credit after a period of rapid financial deepening. In Middle East North Africa countries the economic growth rate decreased from 4.6% in 2012 to 2.3% in 2013 and expected to grow till 3.6% in 2014.
Inflation Rate: The average inflation rate decreased in the developed countries from 2.6% in 2012 to 1.6% in 2013 and it is expected to be stable at 1.8% in 2014.In the developing countries it reached 4.4% in 2013 compared to 4.6% in 2012 and expected to be 4.5% in 2014.
EConoMIC DEVEloPMEnTs In 2013
2011 2012 2013
2011 2012 2013
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unemployment: The rate of unemployment boosted in the developed countries from 8% in 2012to 8.1% in 2013 and anticipated to be stable at 8% in 2014.
The Domestic Economy:growth rate: The growth rate boosted in 2012 with 1.1% to 2.2% in 2013 and anticipated to rise in 2014 to 2.5%.
Inflation rate: The inflation rate decreased from 44.4% in the end of year 2012 to 41.9% in the end of December 2013.
The Money supply: BY the end of December 2013 the money supply reached 64,791m.SDG compared with 58,663m.SDG by the end of September 2012 within increase percentage of 10%.
The Developments in the Field of Banking Environments:Deposits of the Banking system: The deposits of banks in local currencies rose from 28,385m.SDG in 2012 to 33,792m.SDG by the end of September 2013 with an increase percentage of 19%. The foreign currencies deposits decreased from 11,535m.SDG in year 2012 to 11,257m.SDG by the end September 2013 with a decrease percentage of (2%).
The Banking Financing: The banking financing rose from 24,815m.SDG in year 2012 to 30,135m.SDG in September 2013 with growth percentage mounted 21%.In the sphere of total banking financing distribution by sectors, the agriculture registered the highest percentage of 15.9%, the industrial sector 15.6%, constructions 11.3%, local trade 10%, transportation 9.2%, exports and capital contribution with 3.4% for each, imports 3.1% and other sectors were of 31,2%.
The Average of Murabaha Profits Margins:The average of Murabaha profits margins reached 10.5% for the year 2013 as applied margin in the banks through the year 2012 fluctuated between 1% and 22%.
references:1/ World Economic Outlook.2/ Central Bank of Sudan, Economic newsletter.3/ The Periodic Journal of Central Bank of Sudan.
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The praise to Allah the Lord of the universes and that enough, peace and blessings be upon Mohamed (PBUH) chosen prophet , upon his family , kind and immaculate companions and whom walked their pursuit way and traces.
The generous brothers/ Al-shamal shareholders.The virtuous brothers/ The representatives of the Central Bank of Sudan.The virtuous brother/ Khartoum Stock Exchange Market.The virtuous brother/ The representative of the Auditor General of Sudan.The virtuous brother/Commercial register general of SudanDear brothers / The Board of Directors members.The virtuous brothers/ The members of Sharia’a Supervisory Board.Messrs/ The honorable gests.The dear brothers / The staff of the bank.
Assalamu alaikum wa rahmatu Allah wa barakatuh.........On behalf of Messrs the members of board of directors, it gratifies me to greet you in this blessed evening on the honor of convention of your 24th general assembly, to be all acquainted with the performance of the bank through the year ended on 31/12/2013.Dear brothers:I would not like to elaborate, but in excerpt I illustrate the financial statements, which are distinctive for it is characterized by performance of the best through all lapsed years. I would like to launch this address with report of the protective control requirements according to (CAEL) indicators issued from the Central Bank of Sudan which rated your bank performance on 31December 2013, revealed general rating as satisfactory.The indicators of CAEL include:1- Capital: Rating is strong.2- Assets: satisfactory.3- Revenues: satisfactory4- Liquidity: strong.
Bank name C A E L Composite rating Rating
Al-Shamal Bank 1 2 2 1 1.5 Satisfactory
The virtuous brothers:The above mentioned report reveals the extent of performance improvement your bank has been accomplished throughout the passed year of 2013. In this instance I would like to mark to the positive consequences achieved as an increment to the lapsed year 2012, it happened like as follows:1/ Paid capital increased by 25%, became 125 million SDG.2/ The deposits increased with 11%.3/ The granted financing volume rose with 37%.4/ The revenues increased with percentage of 26%.5/ The ownership equities rose to 19%The generous brothers:These gracious results came as consequences of considerable efforts exerted sympathetically to the clear goals aimed to magnification shareholders equities and all stakeholders, we strive for the accomplishment
ThE ADDrEss oF Mr./ ChAIrMAn oF BoArD oF DIrECTors in front of 24th general assembly of shareholders for the financial year ending on 31/December/ 2013
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of the following:1/ Development of local and foreign resources and to recruit it as idealistic allocation.2/ To present excellent banking services and products and to upgrade it accordance to quality entails.3/ Enhancing human capabilities as a decisive element and the principle motive for growth and development.4/ Commitment to the social responsibility.
Dear brothers:We laid strategic goals in our vision for the upcoming years to induct an honorable position in the Sudanese banking system and that is anticipated with regard to the bank strategic plan (2013-2017). Despite our Al-shamal Islamic Bank launched at instance with fixed steps to the prosperous future, here our promise to you to achieve continuation and positive growth by permission of Exalted be Allah with the rates that consent your ambition.Honorable brothers:Serving of society is one of priorities of the bank since it has been established so it is concerned to subsidies many society segments in different fields like education, health and worship places. The granted support magnitude mounted 505,000 SDG through past year of 2013 in addition to financing of social nature including micro-financing.
Dear brother:Finally, I would like to convey the greetings, appreciation, thanks and esteem of the board of directors to:-All bank shareholders for their continuous supports.-Central Bank of Sudan for its prominent role in the success.-The executive administrative apparatus for its crucial impact in execution of the bank policies.-All the bank staff with their different positions efforts influx and devotion that enabled the bank to achieve these boosting results and the distinctive position.-The Sharia’a Supervisory Board which exerted a valuable efforts.-The National Audit Chamber.- The Deposits insurance Fund.- All our honorable customers who pumped prominent support to the bank. Their proposals and views were of significant impact on improvement and make better for the bank.
Peace be upon you, mercy and blessing of Allah ..........
Albagir yusuf Mudawi Chairman of the Board of Directors
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FInAnCIAl InDICTors (2011 -2013) (Thousands sDg)
2011 2012 20132011 2012 2013
2011 2012 2013 2011 2012 2013
2011 2012 2013
Total Assets Total Finance
Total Deposits Total Income
owners Equities
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
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1/ Approval of the board of directors' report and audited financial statements, legal auditor report and the sharia'a supervisory board's report for the year ended 31st december 2013.2/ Authorization of the board of directors to appoint the legal auditor and specify his fees for the year 2014.3/ Authorization of the board of directors to oppoint the sharia'a supervisory board and specify its fees for the year 2014.4/ Election of the board of directors' members for the new term (2014-2017) as follows: 1/ Bank of sudan representative. 2/ Mr. Abdullah Idrees Fadul Idrees. 3/ Mr. Ahmed Ali Ahmed Alhussain. 4/ Mr. Bader El Dien Salih Abdul Rady. 5/ Eng. Ibrahim Musa Al- Khalifa. 6/ Mr. Mohamed Yahiya Mohamed El Jaldi. 7/ Mr. Suleiman Mohamed Ahmed Mohamed. 8/ Mr. Ali Seed Ahmed Kmbal.5/ Approval of the board of directors' recommendation to rise the capital of the bank to 250 millions SDG according to the extra ordinary General assembly resolution on 29.3.2014.
Mohamed Bushra Khalafalla Secretary of the Board of Directors
resolutions of the 24 th shareholder's general Assembly held on 29 March 2013
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1/ British Arab Commercial Bank.2/ Banque Libano-Francaise – Beirut.3/ Faisal Islamic Bank Of Egypt – Cairo.4/ Qatar Islamic Bank – Doha5/ Arab Investment Company – Manama.6/ Abu Dhabi Islamic Bank- Abu Dhabi.7/ Saba Islamic Bank- Sana'a.8/ The National Commercial Bank.9/ Al Rajhi Banking & Investment Corp.10/ Masherq Bank PSC- Dubai.11/ Arab Banking Corporation B.S.C- Manama.12/ Arab Bank for Investment & Foreign Trade- Abu Dhabi.13/ Al Baraka Turkish Finance House- Istanbul.14/ International Development Exchange- Dubai.15/ Al Nilein Bank- Abu Dhabi.16/ Bank of Beirut- Beirut.17/ Banque De Commerce ET De Placements S.A.18/ Arab Banking Corporation Egypt- Cairo.19/ Bahrain Islamic Bank.20/ Send Exchange- Abu Dhabi.
ForEIgn CorrEsPonDEnTs
