IPDC Finance Limited
Native name
আইপিডিসি ফাইনান্স লিমিটেড
TypePublic Limited Company
IndustryFinancial services
Founded1981 (1981)
FounderThe Government of the People's Republic of Bangladesh (GOB), The Aga Khan Fund for Economic Development (AKFED), International Finance Corporation (IFC), German Investment and Development Company (DEG), Commonwealth Development Corporation (CDC)
HeadquartersHosna Centre (4th floor), 106 Gulshan Avenue,
Dhaka
,
Bangladesh
Key people
ProductsCorporate finance, SME finance, Retail finance
ParentThe Aga Khan Fund for Economic Development (AKFED), Switzerland
Websiteipdcbd.com

IPDC Finance Limited (previously known as Industrial Promotion and Development Company of Bangladesh Limited) is a private sector financial institution of the country. This is a public limited company and listed in both Dhaka Stock Exchange and Chittagong Stock Exchange. Established in 1981,[1] IPDC is the first private sector financial institution of the country. The company's products and services ranges from corporate finance and advisory services in corporate sector, middle market supply chain finance in SME sector to retail wealth management and retail finances in retail sector. The company is headquartered in Dhaka and has operations in Chittagong, Sylhet, Gazipur, Narayanganj, Bogra, Jessore, Mymensingh, Uttara, Dhanmondi and Motijheel.

Corporate background

IPDC Finance was established on November 28, 1981, by a distinguished group of shareholders namely International Finance Corporation (IFC), USA, German Investment and Development Company (DEG), Germany, The Aga Khan Fund for Economic Development (AKFED), Switzerland, Commonwealth Development Corporation (CDC), UK and the Government of Bangladesh. It's a public limited company incorporated in Bangladesh under the Companies Act 1913 (now the Companies Act 1994), listed with the Dhaka and Chittagong Stock Exchange Limited since December 3, 2006. Licensed as Financial Institution under the Financial Institutions Act 1993 on February 7, 1995.

IPDC was first conceived as a result of an IBRD/IFC Industrial Sector mission to Bangladesh in 1978. Subsequently, a detailed feasibility study and strategic policy dialogue among the Government, IFC and other international partners resulted in the establishment of IPDC as an alternative development finance institution in the private sector. The Company in 1981 became the first private sector Development Finance Institution (DFI) in Bangladesh.

Management

Chief Executive Office

At the beginning of 2018, IPDC Finance has reappointed Mominul Islam as its managing director and CEO for the third term.[2] Islam joined IPDC as head of operations in 2006. After working in different positions of the company, he took charge as managing director and CEO in 2011. He had also worked in American Express Bank and Standard Chartered Bank for more than seven years in different roles.[3]

Board of directors

Kazi Mahmood Sattar is the chairman of the board of IPDC Finance Limited.[4] Along with him, Mohammad Manzarul Mannan, Mir Khairul Alam, Sonia Bashir Kabir, Shah Md. Ahsan Habib, Sameer Ahmad, Tushar Bhowmik, Ariful Islam, Nahreen Rahman, and Mominul Islam are the members of the board of directors of IPDC Finance.[4]

References

  1. ↑ "Company Overview". IPDC Finance Limited. Retrieved 25 November 2014.
  2. ↑ "IPDC reappoints CEO". The Daily Star. 2 January 2018. Retrieved 24 June 2018.
  3. ↑ "Mominul Islam re-appointed MD, CEO of IPDC". The Independent. Dhaka. Retrieved 24 June 2018.
  4. 1 2 "Management". IPDC Finance Limited. Retrieved 28 June 2023.
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