auditors' report to the shareholders of islami bank bangladesh limited

ISLAMI BANK BANGLADESH LIMITED
Statement of Changes in Equity For the year ended December 31, 2007
(Amount in Taka)
Particulars
Paid-up Capital
Share Premium
Account
Statutory
Reserve
General/ Other
Reserves *
Assets Rev.
Reserves
Revaluation
Reserves
of Securities
Retained
Earnings
1 2 3 4 5 6 7 8
9
(2+3+ 4+5+6+7+ 8)
Balance as at 01 January 2007 3,456,000,000 1,989,633 2,270,333,255 1,134,449,909 2,280,460,000 - 864,000,000 10,007,232,797
Changes in Accounting Policy: - - - - - - - -
Restated Balance
Surplus on account of
revaluation of Properties - - - - - - - -
Adjustment of revaluation on account of -
sale of Properties - - - - (4,500,000) - - (4,500,000)
Surplus/ (deficit) on account of
revaluation of Investments (HTM) - - - - - 307,950,000 - 307,950,000
Currency translation differences - - - - - - - -
Net Gains and Losses not recognized
in the Income statement - - - - - - - -
Net Profit for the period - - 756,164,894 (279,202,480) - - 1,572,091,043 2,049,053,457
Dividend: Cash / Bonus - - - - - (864,000,000) (864,000,000)
Total
Addition from Bonus Share 345,600,000 - - - - - - 345,600,000
Total Shareholders' Equity
as on 31 December, 2007
3,801,600,000 1,989,633 3,026,498,149 855,247,429 2,275,960,000 307,950,000 1,572,091,043 11,841,336,254
Issue of Mudaraba Perpetual Bond - - - - - - -
Add: General Provision on Unclassified
Investment and Off Balance Sheet Items
- - - 2,296,873,000 - 2,296,873,000
Less: 50% of Assets Revaluation
Reserves
- - - - 1,137,980,000 - - 1,137,980,000
Total Equity as at December 31, 2007 3,801,600,000 1,989,633 3,026,498,149 3,152,120,429 1,137,980,000 307,950,000 1,572,091,043 13,000,229,254
Note * General / Other Reserves 2007 2006
General Reserve 140,416,207 419,618,687
Investment Loss Offsetting Reserve 644,426,081 644,426,081
Dividend Equalization Account 32,000,000 32,000,000