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private sector with the objective of working as a finance company within the country and setting up joint venture banks/financial institutions aboard. In 1983 when the
Government allowed banks in the private sector, IFIC was converted into a full-fledged commercial bank. The Government of the People's Republic of Bangladesh (including Directors) holds 32.75% of the share capital of the Bank and the rest is held by Institutions both Local & Foreign and General Shareholders. The Government is being represented by two nominated Directors on the Board of the Bank. Among them, the current Board of Directors are formed by Bangladesh Bank with four Independent Directors came from different sectors with vast knowledge and experience.
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384:, was able to secure a stay order from the courts. In February 2019, Ahmed Shayan Fazlur Rahman, son of Salman F Rahman, became vice-chairman of IFIC Bank. In June 2021, IFIC Bank announced plans to raise 10 billion BDT from perpetual bonds, nine billion BDT from private placement, and one billion BDT by public offer to meet the requirements of BASEL-III.
106:
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is a first generation
Bangladeshi private commercial bank. IFIC Bank PLC is a banking company incorporated in the People's Republic of Bangladesh with limited liability. It was set up at the instance of the Government in 1976 as a joint venture between the Government of Bangladesh and Sponsors in the
341:
Justice
Zubayer Rahman Chowdhury of Bangladesh High Court issued a sixth week stay order on the annual general meeting of the bank in July 2009. The order followed a petition by Monirul Alam, a shareholder of the bank, requesting a stay and challenging his disqualification from standing for election
325:
In August 2007, Bangladesh Bank found irregularities with the purchase of IFIC Bank shares by
Mosaddak Ali Falu, former member of parliament of the Bangladesh Nationalist Party. He had violated Foreign Exchange Regulation Act and Money Laundering Prevention Act by purchasing shares under a Malaysia
326:
registered company, Bel
Construction SDN BHD. The Malaysian company was owned by Falu, Enayetur Rahman, and Ekramul Haque. Falu and his partners owned 13.7 per cent of the shares and the government of Bangladesh owned 34.54 per cent shares. Of the remaining shares,
375:
Bangladesh Bank gave permission to IFIC Bank to move US$ 12.28 million to Nepal
Bangladesh Bank in Nepal from Bangladesh in February 2017. In June 2018, IFIC Bank moved to auction DuSai Resort to recover loans given to resort but the resort owner
321:
In August 2004, IFIC Bank sued
Beximco Holdings Ltd, a subsidiary of BEXIMCO, at the Dhaka Bankruptcy Court to recover 1.37 billion BDT from the company. Also accused in the case were A S F Rahman, Salman F Rahman, Iqbal Ahmed, and M A Qasem.
387:
IFIC Bank announced plans to divest from Nepal
Bangladesh Bank and sell its share, 40 per cent, in the bank to Nabil Bank in January 2022. It sold the shares for 4.39 billion BDT to Sarika Chaudhary wife of
287:
support through more than 1400 modern business centers (Branches and Sub branches). It has extended its global corporate footprint in the form of Joint ventures and subsidiaries in Nepal, Oman and UK.
348:
Bangladesh Bank ordered the removal of
Mohammad Lutfar Rahman Badal from the board of directors of IFIC Bank in October 2015. He is the secretary of Bangladesh Nationalist Party vice-chairman
533:
399:,' a shariah-compliant full range of Islamic banking services, aiming to offer comprehensive Islamic financial solutions alongside its conventional banking services.
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International
Finance Investment and Commerce Bank Limited was established in 1976 as a joint venture between the Government of Bangladesh and private investors.
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Bangladesh Bank found evidence of fraud at IFIC Bank in January 1998 through fraudulent inland bills designed to siphon 1.55 billion BDT to companies, including
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In May 2014, two officials of IFIC Bank to five year jail sentence for stealing from the bank 2.5 million taka in Chittagong along with three others.
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Please help update this article to reflect recent events or newly available information.
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The bank is ensuring cutting edge service with skilled workforce and revolutionary
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509:"International Finance Investment and Commerce Bank Limited – Banglapedia"
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372:. He had served as chairman of the board of directors from 2007 to 2008.
863:"Bangladesh Bank removes Lutfar Rahman Badal from IFIC Bank's board"
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838:"Businessman Badal, wife Soma's assets frozen in corruption probe"
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IFIC Bank established a joint venture bank in Nepal, called the
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889:"IFIC Bank allowed to transfer $ 12.28m to its Nepal venture"
236:
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and was accused of being involved in opposition violence in
1382:
966:"IFIC Bank to issue perpetual bond to raise Tk 1,000 crore"
392:. The bank issued five billion BDT worth of bonds in June.
992:"IFIC Bank to sell its stake in Nepali bank for Tk 439cr"
444:
Md. Mehmood Husain - Chairman & Independent Director
273:
International Finance Investment and Commerce Bank PLC.
105:
470:
64:, and by adding encyclopedic content written from a
786:"Badal removed from IFIC Bank's board of directors"
812:"Khaleda's son among 32 indicted in arson attack"
453:Kazi Md. Mahboob Kasem, FCA, Independent Director
1495:
614:"IFIC Bank to sell entire stake in Nepal lender"
1069:
915:"DuSai Resort put up for sale to recover loans"
380:, son of former Finance Minister of Bangladesh
1055:
534:"Home loan now at single digit interest rate"
1514:Companies listed on the Dhaka Stock Exchange
703:"Falu, friends illegally bought IFIC shares"
1271:South Bangla Agriculture and Commerce Bank
1062:
1048:
104:
1524:Bangladeshi companies established in 1976
84:Learn how and when to remove this message
1317:Export Import Bank of Bangladesh Limited
757:"2 IFIC Bank officials, 3 others jailed"
558:"IFIC Bank plans to build rural network"
447:Md. Ebtadul Islam - Independent Director
360:in August 2015. He was also co-owner of
342:to the board of directors of the bank.
14:
1496:
731:"HC stays IFIC Bank's AGM for 6 weeks"
700:
462:Syed Mansur Mustafa, Managing Director
303:, with 50 per cent ownership in 1994.
45:contains content that is written like
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668:"Beximco Holdings in bankruptcy dock"
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887:Alo, Jebun Nesa (13 February 2017).
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1018:"IFIC Bank to issue Tk 500cr bonds"
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612:Uddin, AKM Zamir (3 January 2022).
450:Sajjad Zohir - Independent Director
27:Bangladeshi private commercial bank
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1322:First Security Islami Bank Limited
940:"IFIC Bank gets new vice chairman"
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913:Alo, Jebun Nesa (26 June 2018).
701:Hasan, Md; Byron, Rejaul Karim.
583:Saha, Suman (21 November 2013).
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638:Ahmed, Inam (4 January 1998).
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1332:Shahjalal Islami Bank Limited
1312:Al-Arafah Islami Bank Limited
585:"IFIC to become Islamic bank"
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459:Md. Monzorul Haque - Director
1428:Rajshahi Krishi Unnayan Bank
542:. 9 May 2016. Archived from
456:Md. Golam Mostofa - Director
402:
7:
1130:Bangladesh Development Bank
1071:List of banks in Bangladesh
640:"Beximco, IFIC do it again"
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1337:Social Islami Bank Limited
1327:Islami Bank Bangladesh Ltd
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1388:National Bank of Pakistan
1373:Commercial Bank of Ceylon
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318:, directors of the bank.
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247:BDT in Billion 363 (2020)
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117:Limited Liability Company
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1156:Bangladesh Commerce Bank
395:IFIC Bank PLC launched
230:BDT in Mln 2,864 (2020)
213:BDT in Mln 8,424 (2020)
1459:Ansar-VDP Unnayan Bank
1423:Bangladesh Krishi Bank
1291:United Commercial Bank
330:owned 18.31 per cent,
1433:Probashi Kallyan Bank
489:Nepal Bangladesh Bank
338:owned 2.21 per cent.
301:Nepal Bangladesh Bank
66:neutral point of view
1509:Banks of Bangladesh
1454:Karmasangsthan Bank
1398:State Bank of India
157:, Bangladesh (1976)
100:
58:promotional content
1469:Palli Sanchay Bank
1393:Standard Chartered
1378:Habib Bank Limited
1347:Union Bank Limited
1191:Global Islami Bank
1135:BASIC Bank Limited
998:. 15 February 2022
946:. 14 February 2019
564:. 25 November 2013
513:en.banglapedia.org
275:commonly known as
192:Investment banking
98:
60:and inappropriate
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1221:Mutual Trust Bank
792:. 29 October 2015
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370:Mosaddek Ali Falu
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187:Corporate banking
165:Dhaka, Bangladesh
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18:IFIC Bank Limited
16:(Redirected from
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818:. 26 August 2015
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972:. 20 June 2021
970:The Daily Star
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737:. 27 July 2009
735:The Daily Star
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546:on 9 May 2016.
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62:external links
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43:This article
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1464:Jubilee Bank
1449:Grameen Bank
1363:Bank Alfalah
1251:Premier Bank
1186:Eastern Bank
1181:Dutch Bangla
1078:Central bank
1026:. Retrieved
1021:
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1000:. Retrieved
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974:. Retrieved
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948:. Retrieved
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870:. Retrieved
867:bdnews24.com
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845:. Retrieved
842:bdnews24.com
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820:. Retrieved
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763:. 1 May 2014
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561:
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544:the original
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516:. Retrieved
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481:Banks portal
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237:Total assets
162:Headquarters
113:Company type
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56:by removing
52:Please help
44:
1416:Specialized
1296:Uttara Bank
1261:Pubali Bank
1206:Meghna Bank
1201:Jamuna Bank
1125:Janata Bank
1120:Rupali Bank
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1103:State-owned
539:Prothom Alo
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1002:16 January
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741:16 January
712:16 January
677:16 January
649:15 January
623:15 January
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1196:IFIC Bank
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568:9 May
518:9 May
155:Dhaka
1383:HSBC
1030:2023
1004:2023
978:2023
952:2023
926:2023
900:2023
874:2023
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824:2023
798:2023
769:2023
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135:IFIC
366:NTV
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