Islamic Finance asset value nearly doubles to Tk58cr after revaluation
Islamic Finance and Investment Limited’s asset value nearly doubled after a land and building revaluation, even as the NBFI continues to post heavy losses and remains dividend-less.
The asset value of Islamic Finance and Investment Limited, a non-bank financial institution, almost doubled to Tk58.16 crore following a revaluation of its land and buildings, according to disclosures released yesterday.
The company said the revaluation was approved at a board meeting held on 21 December. Before the revaluation, the net book value of its land and buildings stood at Tk27.68 crore.
The assets revalued include land and buildings located at Tejgaon-Gulshan Link Road, Dilkusha, Noyabazar and Bogura. After revaluation, the combined market value of these properties rose to Tk58.16 crore.
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Company data showed that prior to the revaluation, the value of land was Tk23.58 crore, while buildings were valued at Tk4.09 crore. Following the reassessment, land value increased to Tk28.82 crore, while the value of buildings jumped sharply to Tk29.33 crore – a staggering increase of 86%.
Despite the higher asset valuation, Islamic Finance continues to struggle financially.
According to information available on the Dhaka Stock Exchange (DSE), the company incurred a loss of Tk171.51 crore in 2024, translating into a loss per share of Tk12.22.
A year ago in 2023, it had incurred a loss of Tk23 crore.
Due to the ongoing losses, Islamic Finance has not declared any dividend for shareholders. The company last paid a 5% cash dividend for the year 2022.
The loss-making trend has continued into 2025. For the first nine months of the year, up to the end of September, the NBFI reported a loss of Tk27.22 crore, with a per-share loss of Tk1.94.
