NEWS AND EVENTS

We try to create an impact in every step that we take. Here are some of the snapshots of the events we have managed to initiate or be a part of.

IDLC bags first ICMAB National Best Corporate Award 2007

"IDLC Finance Limited, a joint-venture multiproduct financial institution, received the first ICMAB National Best Corporate Award 2007 given by the Institute of Cost and Management Accountants of Bangladesh (ICMAB). IDLC got the 2nd prize in the financial institution category of the Best National Corporate Award 2007. The assessment criteria for the award include corporate governance practices, capital adequacy, liquidity, asset quality and profitability. Anis A. Khan CEO & Managing Director of IDLC received the award from Dr. A B Mirza Azizul Islam, Adviser, Ministry of Finance, Planning, Commerce and Posts & Telecommunication, Government of the People's Republic of Bangladesh at a function organized by the ICMAB in the city recently."

IDLC achieves seventh ICAB National Award 2006

"IDLC Finance Limited, a joint-venture multiproduct financial institution, received the seventh ICAB National Award for best published Annual Accounts and Reports for the year 2006. The award is given annually by the Institute of Chartered Accountants of Bangladesh (ICAB). IDLC got the 2nd prize for 2006 for its best published accounts and reports in the financial sector (non-banking). The company has been bagging the prestigious ICAB National Award for the last five consecutive years. Yongbok Jo Deputy Managing Director of IDLC received the award from Faruq Ahmad Siddiqi, Chairman, Securities & Exchange Commission, at a function organized by the ICAB in the city recently. Dr. A B Mirza Azizul Islam, honourable Adviser, Ministry of Finance, Planning, Commerce and Posts & Telecommunication, Government of the People's Republic of Bangladesh was present at the function as the Chief Guest."

IDLC bags ICAB national awards 2007

"IDLC bags ICAB national awards 2007 for best published accounts and reports. IDLC Finance Limited, a joint-venture multiproduct financial institution, received the eighth ICAB National Award for best published Annual Accounts and Reports for the year 2007. The award is given annually by the Institute of Chartered Accountants of Bangladesh (ICAB). IDLC got the 2nd prize for 2007 for its best published accounts and reports in the financial sector (non-banking). The company has been bagging the prestigious ICAB National Award for the last six consecutive years. Anis A. Khan, CEO & Managing Director of IDLC received the award from the Chief Guest Dr. A B Mirza Md. Azizul Islam, honourable Adviser, Ministry of Finance and Planning, Government of the People's Republic of Bangladesh, at a function organized by the ICAB in the city recently."

IDLC achieves SAFA Best Presented Accounts Award 2007

"IDLC Finance Limited, a joint-venture multiproduct financial institution, received the Bronze Medal under Best Presented Accounts Award 2007 presented by the South Asian Federation of Accountants (SAFA), an apex body of SAARC, in the category ""Non-Banking Financial Sector"". The awards were distributed at a ceremony held recently in Hyderabad, India. The awards, under different categories, are conferred based on evaluation administered by the SAFA Committee on Improvement, Transparency, Accountability and Governance of the published annual reports of entities from South Asian Countries. IDLC has been receiving this prestigious award for the last three consecutive years. The financial institution has also been bagging the National Award for the best-published annual accounts and reports from the Institute of Chartered Accountants of Bangladesh (ICAB) for the last few years. IDLC's General Manager and Chief Financial Officer, H. M. Ziaul Hoque Khan received the award at a function organized by SAFA in Hyderabad, India."

IDLC holds 23rd Annual General Meeting (AGM)

"The 23rd Annual General Meeting of the shareholders of IDLC Finance Limited was held on Sunday, March 30, 2008 at the Bangladesh China Friendship Conference Centre, Agargaon, Dhaka. Anwarul Huq, Chairman of the Company, presided over the meeting, which was attended by directors - Shafiqul Azam, Yongbok Jo, Jeong Won Byun, Md. Habibur Rahman Mollah and Monweruddin Ahmed. A large number of shareholders were present at the meeting. Anwarul Huq, IDLC Chairman presented the Directors' Report, Auditors' Report and audited Financial Statements for the year 2007 before the shareholders. Anis A. Khan, CEO & Managing Director of the Company replied to the shareholders' queries and comments. The shareholders approved stock dividend @ 1:4 and cash dividend @ Tk. 15 per share for the year 2007. The shareholders also approved issuance of bonds and debentures to the extent of Tk. 3 (three) billion. IDLC continued to grow its business and profitability despite intense competition from banks and other financial institutions. The year 2007 saw an impressive 20% growth in disbursements over the previous year. IDLC's consolidated equity grew by a robust 31% over 2006. Total assets of the Company stood at Tk. 14.4 billion at the end of 2007, which is 29% higher than the previous year. During the year, consolidated net profit of the Company stood at Tk. 303 million, showing a vigorous growth of 93% over 2006, with total equity reaching BDT 1,247 million at end 2007. The Company's wholly owned subsidiary, IDLC Securities Limited opened branches at DOHS Mohakhali, Dhaka and Chittagong in 2007 to provide better services to its customers. During the deliberations, IDLC CEO & Managing Director mentioned that these achievements were possible only because of the strong support received from the clients, regulators including Bangladesh Bank and the Securities & Exchange Commission, other relevant government agencies, shareholders, IDLC Board members and a competent and professional work force. The shareholders appreciated the operational and financial performance during the period under review."

IDLC bags SAFA Best Presented Accounts Award 2006

"IDLC Finance Limited, a joint-venture multi-product financial institution, received Merit Certificate under Best Presented Accounts Award 2006 presented by the South Asian Federation of Accountants (SAFA), an apex body of SAARC, in the category ""Non-Banking Financial Sector"". The awards were distributed at a ceremony held in New Delhi, India. The Awards under different categories are conferred based on evaluation, administered by SAFA's Centre on Excellence on Best Presented Accounts Award of the published annual reports of entities from South Asian Countries. IDLC has been bagging the prestigious National Award for the best-published annual accounts and reports from the Institute of Chartered Accountants of Bangladesh (ICAB) for the last five consecutive years. IDLC also received first ICMAB National Best Corporate Award 2007. IDLC's General Manager, Arif Khan received the award from Ajith Nivard Cabraal, Governor, Central Bank of Srilanka at a function organized by SAFA at New Delhi, India, recently. President, South Asian Federation of Accountants (SAFA) was present, among others, at the occasion."

IDLC gets “Superbrands” recognition

IDLC received recognition from Superbrands, the UK-based independent authority on branding. It has recently organized the first ever 'Superbrands Tribute Event' in Bangladesh where it identified and paid tribute to the strongest 29 brands of Bangladesh. The selected brands are from various segments, like consumer brands, business brands, industrial brands, and youth brands.

IDLC achieves ICMAB Best Corporate Performance Award 2008

"IDLC Finance Limited, a leading multi-product financial institution, received the ICMAB Best Corporate Performance Award 2008, given by the Institute of Cost and Management Accountants of Bangladesh (ICMAB). IDLC got the 1st prize in the non-banking financial institution category of the Best Corporate Performance Award 2008. The assessment criteria for the award include corporate governance practices, capital adequacy, liquidity, asset quality and profitability. Arif Khan, CEO & Managing Director (current charge) of IDLC received the award from Abdul Hamid, Speaker of the National Parliament and Commerce Minister Faruk Khan, at a function organized by the ICMAB in the city recently. Abdul Hamid, Speaker of National Parliament and Commerce Minister Faruk Khan seen handing over the ICMAB Best Corporate Performance Award 2008 to Arif Khan, CEO & Managing Director (current charge) of IDLC Finance Ltd. at a ceremony held in the city recently."

IDLC achieves a special award, “COMMWARD Excellence in Communication”

IDLC Finance Limited has received a special award "for upholding the image of Bangladesh in International arena" at COMMWARD Excellence in Communication 2009 organized by Bangladesh Brand Forum. The award was given in recognition of the video documentary "Bangladesh: Undiscovered Gem of Asia", developed through IDLC's project Local Enterprise Investment Centre. Mr. Arif Khan, DMD of IDLC, received the award from Information Secretary Dr. K A Naser Chowdhury.

IDLC holds 24th Annual General Meeting (AGM)

"IDLC declares stock dividend @ 20% (one share for every five shares held) and 15% cash dividend at its 24th AGM. The 24th Annual General Meeting (AGM) of the shareholders of IDLC Finance Limited was held on Monday, March 30, 2009 at the Bangladesh China Friendship Conference Centre, Agargaon, Dhaka. Anwarul Huq, Chairman of the Company, presided over the meeting. The AGM was also attended by Shafiqul Azam, Rubel Aziz, A. K. M. Shahidul Haque, Yongbok Jo, Aziz Al Kaiser, Habibur Rahman Mollah, K. Mahmood Sattar, and Anis A. Khan, CEO & Managing Director. A large number of shareholders were present at the meeting. Anwarul Huq, Chairman of the Company presented the Directors' Report, Auditors' Report and audited Financial Statements for the year 2008 before the shareholders. Anis A. Khan, CEO & Managing Director of the Company replied to the shareholders' queries. The shareholders approved stock dividend @ 20% and cash dividend @ Tk. 15 per share for the year 2008. Despite the global and national economic difficulties, intense competition from other players in the field, including banks, IDLC continued to maintain its growth in terms of both business volumes and profitability. The year 2008 saw an 18% growth in disbursements over the previous year. IDLC's consolidated equity grew by a robust 29% over 2007. Total assets of the Company stood at Tk. 17.4 billion at the end of 2008, which is 16% higher than the previous year. During the year, consolidated net profit of the Company stood at Tk.406 million, showing an impressive growth of 34% over 2007, with total equity reaching BDT 1,611 million at end 2008. Consolidated earnings per share and return on equity at the year end stood at Tk. 162.6 and 28.4% compared to previous year's Tk. 121.3 and 27.6%, respectively. The market capitalization at the end of 2008 was Tk. 5,7 billion compared to Tk. 3.0 billion at the end of 2007. During the discussions, the IDLC CEO & Managing Director mentioned that these achievements were possible only because of the strong support of the shareholders, clients, relevant government agencies, Board members and a competent and professional work force. The shareholders appreciated the operational and financial performance during the period under review."

Arif Khan has been appointed as the new Deputy Managing Director (DMD) of IDLC Finance Limited

"Arif Khan has been appointed as the new Deputy Managing Director (DMD) of IDLC Finance Limited. Arif who joined IDLC in 1996 was serving as its General Manager before his current promotion and has the SME, Personal Finance, Merchant Banking and Treasury Divisions of IDLC Finance Limited and its fully owned subsidiary, IDLC Securities Limited, reporting in to him. Arif obtained his Masters degree in Finance and Banking from the University of Dhaka in 1990. The same year, he joined AB Bank Limited as a Probationary Officer. Subsequently, he obtained his MBA from the Institute of Business Administration (IBA) of the University of Dhaka. He is also a charter holder of the USAs CFA Institute since 2001. A fellow of the Institute of Cost & Management Accountants (FCMA), he also serves currently as an elected council member of ICMAB."

IDLC organized Voluntary Blood Donation Program

IDLC Finance Ltd. organized a “Voluntary Blood Donation Program” in IDLC as a part of our 25th Year Celebration on December 27, 2010. The blood donation program held at the Corporate Head Office where around 18 employees voluntarily donated this blood to Bangladesh Thalassaemia Hospital.

IDLC FINANCE LIMITED now in Keraniganj

"IDLC Finance Limited, the leading multi-product financial institution in the country, inaugurated its 13th branch in Keraniganj at A K Tower, Nagar Mahal Road, Nadidhara Ispahani, East Aganagar, South Keraniganj on December 27, 2010. IDLC Finance Limited’s Keraniganj branch will offer a full range of SME, Corporate and Personal financial products including Term Loans, Lease Finance, Home Loans, Car Loans, Personal Loans and attractive Deposit schemes. Selim R.F. Hussain, CEO & Managing Director of IDLC Finance Limited inaugurated the new branch. H. M. Ziaul Hoque Khan, General Manager and CFO, Zahid Ibne Hai, Head of SME, Mohammad Mizanur Rahman, Head of Head of Legal Affairs along with other senior officials were also present during the opening ceremony. Many small and medium entrepreneurs, local dignitaries and representatives from various trade bodies were also present at the inaugural ceremony. IDLC Finance Limited, one of the most innovative and diversified non-banking financial institutions in Bangladesh, has over 25 years of experience and professional expertise in providing the ‘best-in-the-class’ financial services and solutions to its customers. It has a full range of financial products with strong presence in Retail, SME, Corporate, Capital Markets and Corporate Advisory Services."

IDLC FINANCE LIMITED now in Narshingdi

"IDLC Finance Limited, the leading multi-product financial institution in the country, inaugurated its 12th branch in Narshingdi at T Hussain Tower (1st Floor), 382 Kalibari Road, Narshingdi Bazar, Narshingdi on December 23, 2010. IDLC Finance Limited’s Narshingdi branch will offer a full range of SME, Corporate and Personal financial products including Term Loans, Lease Finance, Home Loans, Car Loans, Personal Loans and attractive Deposit schemes. Selim R.F. Hussain, CEO & Managing Director of IDLC Finance Limited inaugurated the new branch. Zahid Ibne Hai, Head of SME, Sheikh Kamruzzaman, Head of Personal Finance Division along with other senior officials were also present during the opening ceremony. Many small and medium entrepreneurs, local dignitaries and representatives from various trade bodies were also present at the inaugural ceremony. IDLC Finance Limited, one of the most innovative and diversified non-banking financial institutions in Bangladesh, has over 25 years of experience and professional expertise in providing the ‘best-in-the-class’ financial services and solutions to its customers. It has a full range of financial products with strong presence in Retail, SME, Corporate, Capital Markets and Corporate Advisory Services."

IDLC bags 2nd prize in 10th ICAB National Award 2009 for best published accounts and reports in the NBFI sector

"IDLC Finance Limited received the 2nd prize in the tenth ICAB National Award for best published Annual Accounts and Reports for the year 2009 for the Non-Banking-Financial-Institution sector. The award is given annually by the Institute of Chartered Accountants of Bangladesh (ICAB). IDLC has been consistently winning one of the top two prizes in this category for the last seven years. Selim R. F. Hussain, CEO & Managing Director of IDLC received the award from the Chief Guest Abul Maal Abdul Muhith, honorable Minister, Ministry of Finance, Government of the People’s Republic of Bangladesh, at a function organized by ICAB at Winter Garden, Dhaka Sheraton recently."

IDLC FINANCE LIMITED now in Comilla

"IDLC Finance Limited, the leading multi-product financial institution in the country, inaugurated its 11th branch in Comilla at Nasir Center (2nd Floor), 437 Nazrul Avenue, Kandirpar on October 27, 2010. IDLC Finance Limited’s Comilla branch will offer a full range of SME, Corporate and Personal financial products including Term Loans, Lease Finance, Home Loans, Car Loans, Personal Loans and attractive Deposit schemes. Selim R.F. Hussain, CEO & Managing Director of IDLC Finance Limited inaugurated the new branch. Zahid Ibne Hai, Head of SME along with other senior officials were also present during the opening ceremony. Many small and medium entrepreneurs, local dignitaries and representatives from various trade bodies were also present at the inaugural ceremony. IDLC Finance Limited, one of the most innovative and diversified non-banking financial institutions in Bangladesh, has over 25 years of experience and professional expertise in providing the ‘best-in-the-class’ financial services and solutions to its customers. It has a full range of financial products with strong presence in Retail, SME, Corporate, Capital Markets and Corporate Advisory Services."

IDLC Finance inaugurated its 2nd branch in Chittagong

"IDLC Finance Limited, a leading multi-product financial institution, inaugurated its Nandankanon Branch in Chittagong at A.K. Mansion (1st Floor), 17 J.C. Guha Road, Nandankanon, Chittagong on August 8, 2010. This is the second branch of IDLC Finance in Chittagong and 10th branch in Bangladesh. IDLC Finance Limited’s Nandankanon Branch will offer a full range of SME, Corporate and Personal finance products including Term Loans, Lease Finance, Home Loans, Car Loans, Personal Loans and attractive Deposit schemes. Selim R. F. Hussain, CEO & Managing Director of IDLC Finance Ltd. inaugurated the new branch. Arif Khan, Deputy Managing Director, Ziaul Hoque Khan, General Manager and CFO and Zahid Ibne Hai, Head of SME along with other senior officials were present during the opening ceremony. Many small and medium entrepreneurs, local dignitaries and representatives from various trade bodies were also present at the inaugural ceremony. IDLC Finance Limited, one of the most innovative and diversified non-banking financial institutions in Bangladesh, has over 25 years of experience and professional expertise in providing the ‘best-in-the class’ financial services and solutions to its customers. It has a full range of financial products with strong presence in Retail, SME, Corporate, Capital Market and corporate advisory services."

IDLC holds 25th Annual General Meeting (AGM)

"The Twenty Fifth (25th) Annual General Meeting (AGM) of IDLC Finance Limited (IDLC) was held on Monday, April 19, 2010 at 11.00 a.m. at the Celebrity Hall of Bagabandhu International Conference Centre, Agargaon, Sher-E-Bangla Nagar, Dhaka 1207. Mr. Anwarul Huq, Chairman of the Company, presided over the meeting. The AGM was also attended and graced by Rubel Aziz, Md. Habibur Rahman Mollah, Meherun Haque, Yongbok Jo, Md. Rezaul Karim, A.K.M. Shaheed Reza, Farooq Sobhan, Directors of the Company and Selim R.F. Hussain, CEO & Managing Director of the Company. A large number of shareholders were present at the meeting. Anwarul Huq, Chairman of the Company presented the Directors' Report, Auditors' Report and audited Financial Statements for the year 2009 before the shareholders. As the position of Anis A Khan, as CEO & Managing Director expired on March 31, 2009, the Board went through a process to find out a new CEO & Managing Director and ultimately selected Mr. Selim R. F. Hussain as the CEO & Managing Director of the Company with effect from January 01, 2010 for a period of three years. Thereafter, the Chairman placed the Board’s appointment of CEO & Managing Director before the shareholders of the Company for their approval and shareholders approved the appointment of Selim RF Hussain as CEO & Managing Director of the Company. The Chairman placed the Directors’ Report and Audited Financial Statements along with Auditors’ Report thereon for the year ended December 31, 2009, before the shareholders present at the meeting, for discussions and adoption. On invitation from the Chairman, the shareholders participated in the discussions on the Financial Statements for the year 2009. After the discussion by the shareholders on the financial performance of the Company the Chairman requested the CEO & Managing Director to reply to the queries of the Shareholders. The CEO & Managing Director appreciated the shareholders for their various comments and suggestions and replied their queries satisfactorily. The CEO & Managing Director then expressed his gratitude to the valued shareholders and to the Chairman and Board members for their continuous support and encouragement during 2009. He also thanked and appreciated the employees of the Company for their sincere, dedicated and hard work to achieve the excellent performance during 2009. Thereafter, the Chairman placed the Directors’ recommendation to declare stock dividend @ 100% (one share for every one share held) and cash dividend @ 10% (Tk. 10.00 per share) for the year ended December 31, 2009, before the shareholders for their approval. The shareholders unanimously adopted the dividend for the year 2009."

Selim R.F. Hussain joins IDLC Finance Limited as CEO & Managing Director

"Selim R.F. Hussain, formerly Standard Chartered Bank’s Chief Financial Officer in Bangladesh and recently the same bank’s Head of Finance & Strategy, Consumer Banking in India, has joined IDLC Finance Ltd. as CEO & Managing Director on January 1st, 2010. Selim is a career banker with twenty three years of experience in Bangladesh, India & Australia, with firstly ANZ Grindlays Bank and then Standard Chartered Bank. He brings to IDLC a wealth of expertise across multiple functions – financial management, strategic planning, business acquisition & integration, retail & corporate banking, risk management and others. Selim is an Honours graduate from Dhaka University’s Accounting Department and an MBA, with Finance major, from the Institute of Business Administration, Dhaka University. Selim is married with one son and aside from enjoying reading and travelling, he is very passionate about sports in general and cricket in particular."

IDLC arranges vaccination for its employees and their family members

"IDLC Group arranged a vaccination program on December 14, 2011, for its employees and their family members, for the prevention of Hepatitis B and Cervical Cancer. Hepatitis B is an infectious disease of the liver, caused by the Hepatitis B virus. Transmission of the virus results from exposure to infectious blood or body fluids, saliva, tears etc. Acute illness causes liver inflammation, vomiting, jaundice and ultimately death. Worldwide every 1 out of 3 people are infected by this virus, and 10-30 million more people become infected every year. An estimated 1 million people die each year from Hepatitis B and its complications, i.e. approximately 2 deaths each minute are caused by Hepatitis B. Cervical Cancer is a very common type of cancer of the uterus, occurring most commonly in women over the age of 30. As per an estimate of WHO (World Health Organization), at least 200,000 women worldwide die of Cervical Cancer each year, whereas many more are diagnosed with it. The vaccination was arranged at IDLC’s Corporate Head Office as part of our commitment to the wellbeing of our employees and their families. Follow-up sessions will also be organized at IDLC premises to facilitate easy access of the recipients. Health Aid Diagnostic Centre, a service provider for GlaxoSmithKline, one of the largest pharmaceutical companies worldwide, was the vaccine provider in the event. Earlier an awareness session had also been arranged at IDLC to inform the employees of the causes and prevention measures of these diseases."

IDLC recognized as the Best Corporate in the Non-Banking Financial Institution Sector

"The IDLC Group was awarded the First Position as the Best Corporate in the Banking Sector (Non Bank Financial Institution) at The Institution of Cost and Management Accounts of Bangladesh (ICMAB) Awards held on Dec 12th. IDLC was recognized for its dynamic leadership, innovative business strategy, corporate governance, transparency and full disclosure. Selim RF Hussain, CEO and Managing Director, IDLC Finance Limited, said - ""IDLC has always remained true to its core values: our corporate ethics are grounded in good governance, transparency & international standards of full disclosure. We remain committed to strong financial performance & sustainable business practices and we will always be true to our stakeholders - clients, regulators, shareholders, employees and the larger Bangladeshi society."""

IDLC’s annual report wins prestigious awards

"The IDLC Group’s 2010 Annual Report was recognized for its Corporate Governance and Disclosure at the prestigious SAFA 2010 Best Presented Accounts Award ceremony held on Nov 29th in Dhaka. IDLC received a number of awards - Joint Winner under the Financial Services Sector category, ‘Overall Winner – 1st Runner Up’ and a ‘Certificate of Merit’. Selim RF Hussain, CEO and Managing Director, IDLC Finance Limited, said: “Corporate Governance, Transparency and Full Disclosure are values that the IDLC Group has upheld for the last 26 years and we are delighted that our 2010 Annual Report has been particularly recognized. We are proud to set the benchmark for these and other internationally accepted values in the Bangladesh Financial Sector.”"

IDLC Finance Holds 7th Extraordinary General Meeting (EGM)

"IDLC Finance Limited organized the Company’s 7th Extraordinary General Meeting (EGM) in Dhaka on Monday. The Company’s shareholders decided to change the face value of its share from existing TK. 100 each to TK. 10, in line with recent SEC directives. It was also agreed that the Co. would increase its authorized share capital from the existing TK. 100 crore to TK. 400 crore and the market lot of its shares from the existing 20 to 200. Anwarul Huq, Chairman of IDLC Finance Limited presided over the meeting. Directors K. Mahmood Sattar, Habibur Rahman Molla, Rezaul Karim and Independent Director, Farooq Sobhan, were also present at the EGM as was Managing Director & CEO, Selim RF Hussain. Addressing the EGM, Mr. Anwarul Huq and Mr Selim RF Hussain expressed their gratitude to the shareholders, stakeholders and management for their continuous support to the company."

IDLC signs agreement with MetLife Alico Bangladesh for Insurance Coverage to Home Loan Customers

"Selim R.F. Hussain, CEO & Managing Director of IDLC Finance Limited and Syed Hammadul Karim, Sub-Regional COO of MetLife Alico, MEASA - East, recently signed an agreement on behalf of their respective companies to provide life insurance coverage to IDLC home loan customers. Under this arrangement, MetLife Alico Bangladesh, the largest life insurance company in the country, will assure payment of outstanding principal loan of IDLC’s home loan customers, in the event of the borrower’s death or permanent total disability, and thus protect their family members from the burden of loan repayment. IDLC is the largest multi-product non-bank financial institution in the country and one of the premier home loan providers to individual customers. H.M. Ziaul H. Khan, CFO and Irteza A. Khan, Head of Personal Finance Division of IDLC, and Mahmud Alam, Corporate Solutions Manager and Muhammad Asif Shams, Sales Manager, Bancassurance and Direct Marketing of MetLife Alico Bangladesh, were also present in the signing ceremony among other senior officials of the two companies."

IDLC & IDCOL sign Fundraising Agreement of USD 45.00 Million for ECPV Chittagong Limited

"ECPV Chittagong Limited (ECPVCL), a Joint Venture of the Confidence and Energypac Groups, has mandated IDLC Finance Limited and Infrastructure Development Company Limited (IDCOL) as joint arrangers to raise USD 45.00 million Term Loan facility in USD and BDT to set up a 108 MW HFO based power plant at Chittagong. Mr. Imran Karim, Managing Director ECPVCL , Mr. Islam Sharif, Executive Director & CEO of IDCOL and Mr. Selim R F Hussain, CEO & Managing Director of IDLC; together signed an agreement for the fund arrangement on behalf of their respective companies. The Chairman of Confidence Cement, Mr. Rezaul Karim and Mr Rezwanul Kabeer, Director of Energypac Power Generation Ltd were also present to grace the occasion. Mr. M. Jamal Uddin, Head of Corporate, Mr. Mesbah Uddin Ahmed, Head of Structured Finance of IDLC, Mr. Nazmul Haque, Director & Head of Investment of IDCOL and other senior officials from the concerned companies also attended the Signing Ceremony. With a project cost of USD 93.00 million (BDT 7,000 million approx.), the ECPVCL will be established at Patenga, Chittagong on Built, Own and Operate (BOO) basis for a term of 15 years. The power plant will use Rolls Royce liquid fuel engines and is expected to go into commercial operation by November 2012."

IDLC supports SEID Trust for the development of underprivileged and disabled children

"IDLC Group has recently handed over a cheque for Taka 353,000 to SEID Trust – a voluntary organization working since 2003 for the underprivileged children with intellectual and multiple disabilities, including autism. On behalf of IDLC Group, Ms. Bilquis Jahan, Head of Human Resource Department, was present at the simple function held on October 13, 2011 in this regard. Ms. Dilara Sattar Mitu, founder director of SEID Trust, was also present in the event. In our society, people with physical or intellectual disabilities are almost always neglected and humiliated, and often abused and deprived of their basic rights. In most cases, the mothers are blamed for the conditions of the children, and have to go through physical and psychological torture by their family members. SEID Trust helps these children live a near-normal life by providing them education, therapy, healthcare, recreational facilities and vocational training, while helping their families recognize their potentials. Moreover, the mothers of these children are also trained to develop entrepreneurial skills to help them earn a sustainable livelihood that will naturally have an impact on the lives of these children. SEID Trust is currently managing four centers in Dhaka with around 450 children. IDLC is proud to be a regular contributor to SEID Trust, helping them spread the benefit of their initiative, and we will continue to offer this support in the years to come."

IDLC Bags 1st position in 11th ICAB National Awards 2010

"IDLC Finance Limited secures the 1st position in the Non-Banking-Financial-Institution sector for the best published Annual Accounts and Reports for the year 2010 at 11th ICAB National Award. The award is given annually by the Institute of Chartered Accountants of Bangladesh (ICAB). IDLC has been consistently winning one of the top two prizes in this category for the last eight years. Selim RF Hussain, CEO & Managing Director of IDLC received the award from Muhammad Faruk Khan, MP & Honourable Minister for Commerce, Govt. of the People’s Republic of Bangladesh."

IDLC partners with LEADS to educate underprivileged primary school children

"The IDLC Group is partnering Livelihood Education and Development Service (LEADS), an institution working for the education of underprivileged children enrolled in different government primary schools, in initiatives that aim to reduce dropouts and improve the overall development of these children. On behalf of the IDLC Group, Mr. Selim RF Hussain, CEO and Managing Director of IDLC Finance Limited, donated a variety of items facilitating improvement of education, health and hygiene for the children and their families at a simple function held on 20th Sept., 2011 at LEADS’ Dhanmandi premises. Mr. Md. Shahabullah, Secretary & Member Socio Economic Infrastructure Division, Planning Commission; Mr. ASM Kabir, Chairman, LEADS; and Mrs. Romina Dewan, Executive Director, LEADS, were also present at the program. Among the items sponsored were computers, school bags, dictionaries and other stationeries, story books and sports items for the children, and water filters and first-aid boxes for their families. In addition, a cheque for Tk. 50,000.00 was also handed over to purchase school uniforms, shoes and raincoats for the children to facilitate regular school attendance. IDLC is proud to be partnering LEADS in its efforts to improve the lives of these underprivileged children. It may also be mentioned here that IDLC had earlier arranged an interactive session with these children at its Head Office and a number of employees subsequently made personal contributions to support LEADS."

IDLC Opened New Branch in Tongi

"IDLC Group recently opened its 27th branch in Tongi. The new branch offers a range of SME & Personal Financial products such as Term Loans, Lease Finance Services, Women Entrepreneur Loan, Commercial Vehicle Loan, Supplier Finance Services, Home Loans, Car Loans, Personal Loans and attractive Deposit schemes. H. M. Ziaul Hoque Khan, General Manager & Chief Financial Officer and Mr. Zahid Ibne Hai, Head of SME Division were present at the opening ceremony. “We are proud to open a branch in Tongi and this will help us serve a new client segment” said H. M. Ziaul Hoque Khan, IDLC’s General Manager & Chief Financial Officer. IDLC began operations in 1985 and is currently the largest multi-product non- banking financial institution in Bangladesh with 810 staff and a broad range of Corporate, SME, Personal and Capital Market products."

IDLC partners with CRP in helping out Ibrahim

"IDLC Group designed and sourced its Eid greeting cards of 2011 in cooperation with CRP (Centre for Rehabilitation of the Paralyzed). The theme of this year’s greeting card was a mouth-painting by Ibrahim – a vocational trainee at the Savar-based CRP. 26-year old Ibrahim had both his upper limbs amputated after he suffered a spinal injury caused by falling from a height while at work. CRP provided him treatment and rehabilitation, and is helping him earn his own livings by training him in mouth-painting, with help from one of the faculties at the Institute of Fine Arts, University of Dhaka. The purpose of IDLC’s initiative was to help Ibrahim generate livelihood for himself, while tell his story to a broader group of people who may help CRP in their cause. Established in 1979, CRP is the first organization of its kind in Bangladesh, committed to create an accessible and enabling environment for disabled people by focusing on a “Rights-based” approach to their treatment, training and rehabilitation. To know more about this organization and their activities, please visit www.crp-bangladesh.org"

IDLC Finance Limited organized two blood donation programs

"IDLC Finance Limited organized two blood donation programs on July 25 and July 28, 2011, at its premises in order to aid the treatment of the patients of Bangladesh Thalassaemia Hospital. We are delighted to announce that 42 bags of blood were collected during the two day campaign from both IDLC employees and also our clients. Thallasaemia is a blood-related genetic disorder. Patients with this disease require regular blood transfusion to live and lead a near-normal life. The hospital, an initiative of Bangladesh Thalassaemia Samity, treats on average 15-20 patients per day by providing them with fresh blood at a very low cost. The hospital mostly collects blood through such campaigns from the general public. IDLC Finance Limited is proud to have extended its support for this noble cause."

Inauguration of 16 crore tree plantations and 1,000 tree plantation at Dhaka University

"IDLC Finance Limited has recently sponsored the event “Inauguration of 16 crore tree plantations and 1,000 tree plantation at Dhaka University”, initiated by Mr. Musa Ibrahim, first person ever from Bangladesh to conquer the Everest. The event formally inaugurated the project to plant 160 Million saplings of local varieties in different parts of Bangladesh, with the aim of ensuring 25% forestland in the country, while creating awareness among the people, especially the youth of Bangladesh, regarding the benefits of planting trees. The program will also discourage people from planting species like Acacia, Eucalyptus, Mangium etc. that are harmful to the environment. The event took place on Monday, July 18, 2011, at Mall Chattar, University of Dhaka. It was organized by the Everest Foundation, and assisted by United Nations Students Association Bangladesh, Green Channel and the Circle. CFO and General Manager of IDLC Finance Limited, H.M. Ziaul Hoque Khan, represented the sponsor organization at the event. Honorable Vice Chancellor of the University of Dhaka, Professor AAMS Arefin Siddique, was present there as the Chief Guest. Among others, noted botanist Mr. Dwijen Sarma; renowned bird specialist Mr. Sharif Khan; noted journalist and novelist of the country Mr. Anisul Hoque; Ex-captain and selector of Bangladesh's Cricket Team, BCB Habibul Basher Suman; Professor of Department of Botany, University of Dhaka, and Caretaker-in-Charge of Arboriculture Department Dr. Mihir Lal Sen; Chief Inspector of Colleges under University of Dhaka and poet Mr. Bimal Guha; noted botanists Mr. Mrityunjoy Roy and Mr. Mokaram Hossain were also present in the event. Under IDLC’s sponsorship, a total of 1,000 trees were planted in the University premises – re-enforcing our commitment to develop a greener environment. We congratulate Mr. Musa Ibrahim for this bold initiative, and are proud to be a part of this. We wish him every success, and look forward to many such initiatives in the days to come."

Energypac Power Generation Limited has signed an agreement for Initial Public Offering with IDLC Finance Limited

"Energypac Power Generation Limited has recently signed an agreement with IDLC Finance Limited to raise capital through Initial Public Offering (IPO). IDLC Finance Limited will act as ‘Manager to the Issue’ in this regard. Energypac Power Generation Limited is one of the leading companies in the power sector of Bangladesh. It has been operating as a major supplier of standby and base load electric generators and low voltage power distribution accessories for many years. Energypac successfully operates in multiple dimensions - as power engineer, management and generation company. It has strong presence in Engineering, Procurement & construction (EPC), Turnkey and IPP based power plants. Energypac is an ISO 9001:2008 Certified company with International Business standard work practices. Mr. Humayun Rashid, CEO & Corporate Director, EPGL & Mr. Selim R.F. Hussain, CEO & Managing Director, IDLC, signed the contract on behalf of their respective companies. Energypac senior officials, Mr. Rabiul Alam, Managing Director, Mr. Enamul Haque Chowdhury, Executive Director, and Mr. Rezwanul Kabeer, Director, were present on the occasion and were accompanied by senior officials from both the companies."

IDLC launches Online SME Loan Eligibility Tool

"IDLC Finance Limited, the largest multi-product Non-Bank Financial Institution in Bangladesh, has just pioneered an ‘Online SME Loan Eligibility’ - a web based tool which will allow SME entrepreneurs to assess their primary eligibility for accessing a SME loan from IDLC. The interactive tool is expected to facilitate entrepreneurs, who are keen to avail of SME financing, by allowing them to gauge their preliminary loan eligibility throug logging-in to www.idlc.com and filling out a simple web form. Mr. Aftab ul Islam, Chairperson, SME Foundation formally inaugurated IDLC SME Online Eligibility Tool as Chief Guest. Mr. Selim R F Hussain, Managing Director and CEO, Mr. Ziaul Haque Khan, CFO and Mr. Zahid Ibne Hai, Head of SME and other senior officials of IDLC Finance limited were also present during the occasion. IDLC’s SME Division offers a product suite which includes Loan, Lease, and Supplier-Finance products and, in less than five years, has already disbursed over BDT 10 billion in SME loans from its 17 branches/SME booths across the country. IDLC Finance, with speedy turn-around times, customer-friendly service, tailored solutions and a Non-Performing-Loan Ratio of less than 2.00%, has established itself as one of the leading and most successful SME finance-providers in Bangladesh."

IDLC signed Fundraising Agreement of USD 38.50 Million for Radisson BLU Hotel Cox’s Bazar.

"Clewiston Foods & Accommodation Limited, a sister concern of Clewiston Group, has mandated IDLC Finance Limited to raise USD 38.50 million in foreign currency for setting up a 278 keys 5 star Hotel in the name of “Radisson BLU Hotel Cox’s Bazar” under a Development & Management contract with Carlson Hotels worldwide USA, the sponsoring group of Radisson Hotel Brand worldwide. Reliance Finance Limited will be the co-arranger for the project. Mr. Selim R.F. Hussain, CEO & Managing Director of IDLC Finance Limited and M.A. Alim Chowdhury, Managing Director of Clewiston Foods & Accommodation Limited have recently signed letter of Mandate on behalf of their respective companies. Mr. Proshanta K. Halder, Managing Director of Reliance Finance Limited, Mr. M. Jamal Uddin, Head of Corporate of IDLC Finance Limited, Mr. Mesbah Uddin Ahmed, Head of Structured Finance of IDLC Finance Limited, and officials from the concerned companies had attended the Signing Ceremony. With a project cost of USD 55 million (BDT 4,000 million) (approx.), the “Radisson BLU Hotel Cox’s Bazar” will be established on 2 acre land located at Cox’s Bazar Hotel Motel Zone (200 yards from the main sea beach). The hotel is expected to go into operation by 2014."

IDLC FINANCE LIMITED now in Mirpur

"IDLC Finance Limited, the largest multi-product non-banking financial institution in Bangladesh, opened the IDLC Group’s 26th branch in Mirpur at Khan Plaza, Plot No. 6, Main Road 1, Mirpur 10, Dhaka 1216 yesterday. The new Mirpur branch will offer a full range of Personal Finance Products, SME financing including Term Loans, Lease Finance, Home Loans, Car Loans, Personal Loans and attractive Deposit schemes. Selim R.F. Hussain, CEO & Managing Director of IDLC Finance Limited inaugurated the new branch. H. M. Ziaul Hoque Khan, General Manager and CFO, Zahid Ibne Hai, DGM & Head of SME, Shaikh Kamruzzaman, DGM & Head of PFD, along with other senior officials were also present during the opening ceremony. Many retail customers, small and medium entrepreneurs, local dignitaries and representatives from various trade bodies were also present at the inaugural ceremony."

IDLC opens a new project office in Gulshan, Dhaka

"IDLC Finance Limited has recently opens a new project office – first of its kind among all the offices and branches of IDLC. As part of its plan to support business growth; IDLC has signed an agreement with Oracle Financial Services Ltd. to implement its Core Banking Software at IDLC. The project office at House no. 02, Road no. 23/A, Gulshan-1 in Dhaka will facilitate the transition. Selim R. F. Hussain, CEO & Managing Director of IDLC Finance Limited, inaugurated the project office on April 18, 2011. On this occasion, Ziaul Hoque Khan (CFO), Mir Tariquzzaman (CTO), Zahid Ibne Hai (Head of SME), Shaikh Kamruzzaman (Head of PFD), Asif Saad Bin Shams (Head of Credit & Collection), Bilquis Jahan (Head of HR) and Project Core Team members of IDLC were also present."

Sustainability Practices of IDLC: Member of UNEP FI as First Signatory from Bangladesh

"UNEP FI (United Nations Environment Programme Finance Initiative), a voluntary organization for promoting sustainable environmental practices among financial institutions all over the world, welcomes IDLC Finance Limited as its first Signatory from Bangladesh. IDLC Finance Limited is a multi-product financial institution, established in 1985 in collaboration of reputed multilateral development agencies such as International Finance Corporation (IFC) of the World Bank, Korean Development Leasing Corporation (KDLC), South Korea Kookmin Bank, South Korea, the Aga Khan Fund for Economic Development (AKFED), and German Investment and Development Company (DEG). Over the last 25 years, IDLC has evolved as one of the leading non-bank financial institutions of the country, offering a wide range of products and services to offer complete financial solution to both our corporate and individual clients. As its commitments towards sustainable financing, IDLC incorporates detailed risk assessment in its financing decisions, with emphasis on mitigating negative environmental impacts resulting from operations of projects financed by us, as well as limiting our investment in polluting industries. In addition to this, IDLC makes it a point to practice equal opportunities for all its employees by ensuring a transparent recruitment and appraisal process, promoting gender equality, zero-tolerance policy against corruption within the organization etc. Moreover, IDLC is very actively involved in corporate philanthropic activities through regular donations and charities. In its pursue to become a truly responsible organization, IDLC has recently signed up with United Nations Environment Programme Finance Initiative (UNEP FI) – thus having the honor of becoming the first signatory from Bangladesh to this prestigious initiative that incorporates sustainable environmental practices in over 200 financial institutions representing a wide range of countries. Through peer-to-peer networks, research and training, UNEP FI carries out its mission to identify, promote, and realize the adoption of best environmental and sustainability practice at all levels of financial institution operations. Moreover, IDLC is a member of United Nations Global Compact (UNGC) since 2007 – an organization trying to promote sustainable and responsible business practices by incorporating ten universally accepted principles in the area of environment, labor, human rights and anti-corruption, while catalyzing achievement of broader UN Goals including the Millennium Development Goals (MDG). With over 7,700 members all over the world, including business entities and associations, civil society organizations, academic institutions, public sector organizations etc., it is the largest voluntary initiative of the world to work in the area of sustainable business practices. UNGC mainly relies on public accountability, transparency and the enlightened self-interest of its members in pursuing the objectives upon which the Global Compact is based. IDLC is also a member of CSR Centre, an initiative of Bangladesh Enterprise Institute (BEI) that assists local organizations in incorporating the principles of UNGC in their operations. True to its commitment, IDLC is continuously developing new strategies and incorporating different policies and practices to structure its operations in a better way and in the process becomes a truly responsible and sustainable organization of the country."

IDLC declares stock dividend @ 65% and 35% cash dividend at its 26th AGM

"The 26th Annual General Meeting (AGM) of the shareholders of IDLC Finance Limited was held on Thursday, March 31, 2011 at the Bangabandhu International Conference Centre, Agargaon, Dhaka. Anwarul Huq, IDLC Finance Chairman, presided over the AGM, which was also attended by other Directors - Aziz Al Kaiser, Rubel Aziz, Habibur Rahman Mollah, Meherun Haque, Md. Rezaul Karim, Golam Faruk Ahmed and the CEO & Managing Director, Selim R. F. Hussain. A large number of shareholders were present at the meeting. Anwarul Huq, Chairman of the Company presented the Directors’ Report, Auditors’ Report and audited Financial Statements for the year 2010 before the shareholders. Selim R. F. Hussain, CEO & Managing Director of the Company replied to the shareholders’ queries. The shareholders approved stock dividend @ 65% and cash dividend @ Tk. 35 per share for the year 2010. In 2010, the IDLC-Group invested heavily for the future and also managed to grow business volumes and profits. A total of 12 new branches, six each for IDLC-Finance and IDLC-SL Ltd, were opened, 100 employees were recruited and a Group-wide comprehensive technology project was initiated in 2010. The IDLC-Group (IDLC-Finance & IDLC-Securities Ltd.) earned a net profit of 1,327M in 2010 - a 61% growth over the previous year. Consolidated equity reached 3,690M, a 54% year over year increase, while assets grew by 19% to Tk. 27,000M. Consolidated Earnings Per Share and Return on Equity at 2010 year end stood at Tk. 221.18 and 43.64% compared to previous year’s Tk.136.98 (Restated) and 41.05% respectively. IDLC’s market capitalization at the end of 2010 was Tk. 27.89 Billion compared to Tk. 11.11 Billion at the end of 2009. During the question and answer session, Selim RF Hussain, the IDLC CEO & Managing Director mentioned that the Co. had focused on enhancing key business drivers (people, premises, processes & technology) ; diversifying revenue streams and improving risk-management. He also said that 2010 performance were possible only because of the guidance of the IDLC Board and the energy and commitment of its staff and thanked clients and regulators for their support. Shareholders present at the Meeting were most appreciative the Co.’s operational and financial performance during the period under review."

Workshop on “Understanding the Business Dynamics of Composite Knit Garments”

A daylong training on “Understanding the Business Dynamics of Composite Knit Garments” took place at the Corporate Head Office of IDLC Finance Limited on March 26, 2011. The training was conducted by Mr. Md. Asadullah Al Mamun, Finance Director of Bengal Hurricane Group. A total of 25 participants were present in the training session from SME-mid and SBF-credit department of IDLC Finance Limited. In this training, we covered various topics regarding the technical, marketing and commercial/banking operations of a Composite Knit factory and also talked about the overall business prospect of this industry in future. The training was aimed at increasing the knowledge base of IDLC Relationship Mangers/Officers, who have joined in the past few months.

Workshop on “Anti-Money Laundering & Anti-Terrorism Regulations”

A daylong workshop on “Anti-Money Laundering & Anti-Terrorism Regulations” was organized by Internal Control & Compliance Department (ICC) of IDLC Finance Limited on February 26, 2011. In total 52 attendees participated in the workshop covering all the departments of IDLC. Md. Eskandar Miah (Deputy General Manager Anti-Money Laundering Department Bangladesh Bank), Priyani Malik (Consultant Governance Program World Bank Office, Dhaka), and Choudhury M.A.Q. Sarwar (Head of Legal, Compliance & Assurance, Standard Chartered Bank) were the facilitators of the workshop. Selim R. F. Hussain (CEO & Managing Director, IDLC), H. M. Ziaul Hoque Khan (GM & CFO, IDLC) were present in closing and certificate giving ceremony.

IDLC participates in “SME Financing Fair” at Chittagong

"IDLC Finance Limited recently participated in the “SME Financing Fair” organized by SME Foundation (SMEF) in association with Bangladesh Bank (BB). This two-day event was held on February 15-16, 2011 at “The Engineers Institute Chittagong”. A number of Banks and Non Bank Financial Institutions including IDLC Finance Ltd took part in the fair. During the launching ceremony, Governor of Bangladesh Bank, Dr. Atiur Rahman, handed over a loan sanction letter of BDT 2 mn to one of IDLC’s client Md. Faruk, proprietor of Abser & Brother. A souvenir was also published in this occasion. A success story of a client of IDLC Finance Limited was published in the souvenir."

Workshop on “Vital skills for the modern managers” in IDLC

A daylong workshop on February 05, 2011 named “Why should anyone follow you? Vital skills for the modern managers” was arranged for the managers of IDLC. Altogether 32 managers from different departments of IDLC Finance joined the workshop. Dr. Upail Mahanama-DBA FSBP MNZIM FMSLIM, international marketing consultant & corporate trainer, Sri Lanka was the facilitator the workshop. The presenter discussed on professionalism & the role of modern manager and the way how to manage the sales operation- the management by objective way. The focused area of discussion was MBO, leadership, teamwork and decision making.

IDLC Finance Limited organizes CRO Induction Program

"IDLC Finance Limited recently organized a salesmanship induction & Training Program-2011 for its newly recruited Customer Relationship Officer (CRO) under Personal Finance Division (PFD). The training program was held from January 27-28, 2011 at Caritas Development Institute. The resource personnel delivered their presentations on various aspects including Deposits Products & Process Orientation, Loan Products & Process Orientation, Anti Money Laundering & Compliance, Loan Documentation & Customer Services, SME Products & Cross Selling Techniques, Legal Aspects, Comparative Analysis of Competitors’ Products, Basics of Credit Appraisal and Code of Conduct & Ethics. Dr. M Ridhwanul Haq, Faculty of IBA was present in the program and delivered speech on “Selling of Professional Services”. Shaikh Kamruzzaman, Head of PFD; Bilquis Jahan, Head of Human Resource; Mizanur Rahman, Head of Legal Affairs and other senior officials of IDLC Finance Ltd spoke on different sessions. Selim R. F. Hussain, CEO & Managing Director of IDLC Finance inaugurated the training program. Shaikh Kamruzzaman, Head of PFD and Bilquis Jahan, Head of Human Resource of IDLC delivered the closing speech and distributed the certificates to the participants."

IDLC SME Division launches two new products

"SME division of IDLC Finance Ltd. Has recently launched two new products- SME Commercial Vehicle Loan and SME Seasonal Loan. The products brief are as follows- “SME Commercial Vehicle Loan” is a financing facility for Small and Medium Enterprises (SME) to procuring commercial vehicles at simple and convenient terms. “SME Seasonal Loan” is a financing facility for Small and Medium sized trading and manufacturing businesses with flexible repayment terms. The loan repayment schedule is structured in a way to match the cash flow of the business. Loan limit of the facility is BDT 0.30 mn to BDT 7.50 mn."

IDLC Finance & Farzana Shakil Makeover Salon Signs Loan Agreement

"IDLC Finance Limited has recently extended a SME Women Entrepreneur Loan to Farzana Shakil Makeover Salon Ltd (FSMSL), the leading makeover salon of the country, for relocation of its exiting Dhanmondi Branch to a larger premise. The new premise is expected to come up with state-of-the-art beauty & health care facilities. In this regard, a documents signing ceremony took place at IDLC’s headquarter. Selim R. F. Hussain, CEO and Managing Director of IDLC Finance Ltd and Ms. Farzana Shakil, Managing Director of FSMSL & the leading makeover artist of the country, signed the deal on behalf of their respective organizations. Mr. Shakil Kashem, Chairman of FSMSL, Zahid Ibne Hai, Head of SME, IDLC Finance Ltd and other senior executives were also present during the ceremony."

IDLC Signs USD 115 Million Fund raising Agreement with Summit Bibiyana

"Summit Bibiyana-1 Power Company Limited and Summit Bibiyana-2 Power Company Limited have both recently signed up with IDLC Finance Limited for the latter to lead-arrange the raising of USD 115 mn through the Investment Promotion and Financing Facility (IPFF). The IPFF is a funding facility for Public Private Partnership (PPP) projects managed by Bangladesh Bank and sponsored by the Government of Bangladesh and the International Development Agency, World Bank. These two power plants will be located at Bibiyana in Sylhet Divison with a capacity of 341 MW each and, combined, represent the largest power generating projects in the private sector in Bangladesh till date. The total estimated project cost of USD 550 mn will be financed at a 70:30 Debt-Equity ratio and will be funded by a combination of funds from IPFF and other multilateral agencies - the IFC, ADB & IDCOL. Ayesha Aziz Khan, Director of Summit Group, and Selim R.F. Hussain, CEO & Managing Director, IDLC Finance Limited signed the agreement on behalf of their respective companies. Mr. Muhammad Aziz Khan, Chairman of Summit Group, and other senior officials from Summit, GE and IDLC were also present during the signing ceremony."

Foreign training programmes during 2010 in IDLC

A total of 41 employees of IDLC participated in different foreign training in different countries. 29 employees went to Singapore, India Malaysia and Nepal till December 2010. 12 more employees were sent to Nepal and Singapore at the end the year.

IDLC partners Musa Ibrahim in country-wide campaign for the youth

"As part of its commitment to environmental sustainability, IDLC is sponsoring a country-wide campaign of Mr. Musa Ibrahim, the first Bangladeshi to conquer Mount Everest. The campaign, with the slogan “Bangladesh is marching forward: Let’s visit the country on Bicycle 2012”, is jointly being organized by the Everest Academy and Prothom Alo Bondhushava, while IDLC is the Green partner. The Daily Star is the co-arranger of the campaign. Mr. Musa Ibrahim and his team of twenty cyclists will cover 250 schools in 50 districts across the country on bicycles over 25 days. The agenda is to create awareness among school children regarding green education, better environmental practices, action against drug abuse, war of independence of Bangladesh, and adventure for the youth, while planting trees in the school premises. A press conference was held at the University of Dhaka on Sunday, December 2, 2012, to launch the campaign. Dr. A.A.M.S. Arefin Siddique, honorable Vice Chancellor of the University of Dhaka, was present there as the Chief Guest. Professor Abdullah Abu Sayeed, Founder Director of Bishwa Sahitya Kendra (World Literature Center); Mr. Md. Nizamul Ahsan, Director (Marketing), Meghna Group; and Mr. H.M. Ziaul Hoque Khan, Deputy Managing Director, IDLC Finance Limited, was present as Special Guests in the event. The group will start their journey from Shaheed Minar, University of Dhaka, on Monday, December 3, 2012."

IDLC & IDCOL Arrange Syndicated Term Loan Facility for ECPV Chittagong Limited

"ECPV Chittagong Limited (ECPVCL), a joint venture power project of Confidence and Energypac groups, is setting up a 108 MW HFO based power plant at Patiya, Chittagong on built, own and operate (BOO) basis under IPP arrangement for a 15 year term in Chittagong. Using Rolls Royce liquid fuel engines, the power plant is expected to go into commercial operation within July 2013. Total cost of the project is USD 93.00 million. IDLC Finance Limited and Infrastructure Development Company Limited (IDCOL), the mandated arrangers, has raised BDT 2,280 million and USD 30 million as syndicated loan for the project, where 12 (twelve) bank and financial institutions participated in the syndication. The participating banks and financial institutions of the loan are IDLC Finance Limited, IDCOL, Bank Asia Limited, United Commercial Bank Limited, Bangladesh Commerce Bank Limited, One Bank Limited, The City Bank Limited, Standard Bank Limited, Uttara Finance and Investments Limited, United Leasing Company Limited, Islami Bank Bangladesh Limited, and Industrial Promotion and Development Company Limited (IPDC). A signing ceremony was arranged in a local hotel recently marking the closing of the financing. Mr. Abul Kalam Azad, Secretary, Power Division, Ministry of Power, Energy and Mineral Resources attended the occasion as the Chief Guest, and Mr. Stefan Ekelund, Deputy Country Director, Asian Development Bank (ADB) was the Special Guest. Senior officials from the participating banks and financial institutions including Selim R.F. Hussain, CEO & Managing Director of IDLC Finance Ltd., Mahmood Malik, Executive Director & CEO of IDCOL and Imran Karim Managing Director of ECPV Chittagong Ltd. attended the program."

IDLC Investments to Act as Issue Manager for the IPO of Energypac Confidence Power Venture

"Energypac Confidence Power Venture Limited (ECPVL) recently signed an agreement with IDLC Investments Limited to raise capital through an Initial Public Offering (IPO). IDLC Investments Limited will act as “Manager to the Issue” in this regard. Energypac Confidence Power Venture Limited (ECPVL) is a joint venture company of Energypac Power Generation Limited and Confidence Cement Limited. ECPVL has been operating an 11 MW power project at Habiganj, Bangladesh since 2009 and supplying electricity to the Rural Electrification Board. In this regard, ECPVL signed a Power Purchase Agreement with REB for a period of 15 (fifteen) years. ECPVL has also signed a contract with state-owned Power Development Board (PDB) to set up a 108 MW IPP plant at Chittagong for a period of 15 years. This power plant is expected to commence operation in 2013. The company is also expecting few other projects to be awarded to it in the upcoming months. Selim R.F. Hussain, CEO & Managing Director of IDLC Finance and Chairman of IDLC Investments, said that his company rated the joint sponsors of ECPVL highly and looked forward to growing their business relationship further in the near future. “ECPVL as an organization aspires to be one of the leading power and infrastructure company in Bangladesh in next 5 years”, said Imran Karim, Managing Director of ECPVL. Imran Karim, Managing Director of ECPVL & Md. Moniruzzaman, Managing Director of IDLC Investments Limited have signed the contract. Selim R.F. Hussain, CEO & Managing Director of IDLC Finance and Chairman of IDLC Investments, Engr. Rezaul Karim, Chairman of Confidence Group, Engr. Rezwanul Kabir, Director of ECPVL, Mesbah Uddin Ahmed, Head of Structured Finance of IDLC finance Ltd and other high officials of both the organizations were also present on the occasion."

IDLC organizes training Buyer Engagement

IDLC Finance Limited organized a buyer engagement training program on 16th October, 2012. The program was organized by the Buyer Management Team of IDLC’s Supplier Finance department and was held at the Sung Garden Restaurant. Officials of Opsonin Pharma Limited were the chief guests at the event with Dr. Sayem Ahmed (Head of HR, Opsonin Group) and the department heads of the Commercial, Distribution, Finance & Accounts of Opsonin Pharma among those attending. IDLC Finance Limited was represented at the program by Zahid Ibne Hai (GM & Head of SME)

IDLC arranges blood donation program in Sylhet

"IDLC has recently arranged a blood donation program at its Sylhet branch, in participation of its employees, clients and other stakeholders. A total of 104 bags of blood were collected through this event held on October 13, 2012. IDLC has been a regular partner of both Bangladesh Thalassasemia Hospital and Bangladesh Red Crescent Society, the beneficiaries of this event. The program at Sylhet was one of a series of blood donation events arranged by IDLC."

IDLC finances Musa Ibrahim’s “The Everest Academy”

The SME division of IDLC Finance Ltd. has recently financed “The Everest Academy – an adventure training institute initiated by Mr. Md. Musa Ibrahim, the first Everest conqueror from Bangladesh. The HoSME, Mr. Zahid Ibne Hai, handed over the disbursement cheque at his office to Mr. Musa in a modest ceremony. The Everest Academy is a concern of services like adventure training, summer school, fitness and other related activities. It foresees to gradually include in their service bucket Adventure Leadership Training, Adventure School for kids, Artificial Climbing Wall, Mobile Climbing Wall, Summer Camp, Basic Fitness Training, Bi-Cycle Riding Training, Library and Movie Theatre etc.

IDLC assists Shishu Bikash Chhaya

"IDLC is assisting Shishu Bikash Chhaya, a residential centre providing better education and healthcare facilities to underprivileged children. The centre, located at Old Dhaka, houses fifteen children, mostly orphans or from broken families in the slum areas. The children have been enrolled in different government schools, and the centre makes every effort to nurture their talents at home. IDLC is sponsoring the centre for one month, and accordingly a cheque was handed over through a formal ceremony on October 09, 2012. Besides this residential facility, Shishu Bikash Chhaya also has plans to start a school for underprivileged children in near future."

IDLC bags 2nd position in the 12th ICAB National Awards for Best Presented Annual Reports 2011

IDLC Finance Limited is proud to have been awarded the “12th ICAB National Awards for Best Presented Annual Reports 2011”, under both the “Financial Services Sector” and “Corporate Governance Disclosure” categories. IDLC had earlier won ICAB awards for best published accounts consecutively in the years 2007, 2008, 2010 and 2011.

IDLC 's first environmental awareness session at Udayan

"IDLC and LEADS have conducted the very first environmental awareness session at Udayan Higher Seconday School. The half-day program consisted of presentations, workshops and team-based activities, in participation of the students from classes four and six, where the students themselves identified the causes of environmental pollution and wastage of resources, and came up with solutions to mitigate these problems. Specific tasks were also assigned to them, aimed at creating awareness and introduce better practices among their family members and fellow students. Moreover, IDLC provided special stickers with messages for responsible utilization of electricity and water, and different color waste bins to start the practice of source-separation of waste materials. A follow-up visit will be conducted a month later to get updates of the tasks assigned to the students. The session at Udayan was one of a series of environmental awareness campaigns that IDLC will undertake in different schools across Bangladesh. An agreement was signed in this regard with LEADS, a social organization of TRK Consultancy Services, on September 16, 2012."

IDLC Signs MOA with Navana

"IDLC Finance Limited, Bangladesh's largest non-banking financial institution and Navana Limited, the country's pioneering automobile company & exclusive Brand New Toyota distributor signed a Memorandum of Agreement (MOA) in Dhaka recently. Under the MOA, IDLC will provide car loans with advantageous interest rates, flexible repayment plans and faster processing time to Navana customers. Navana will provide exclusive vehicle pricing and superior service packages to IDLC clients. Mr. Irteza A. Khan, Head of Consumer Division of IDLC Finance and Md. Hamdur Rahaman Simon, Head of Sales and Marketing, Navana Limited, signed the MOA on behalf of their respective organizations. Mr. Shahood Mustansir, Head of Corporate Sales of Navana Limited and other senior officials of Navana and IDLC Finance also attended the signing ceremony."

Discussion session on 'Partnership for Sustainable Development'

"IDLC has recently arranged a discussion session on “Partnership for Sustainable Development”, targeting skills development of the underprivileged people and their subsequent placement in different industries. The target sector in this regard was the Ready-Made Garments (RMG) sector, the largest foreign-currency earner and one of the largest employment providers of Bangladesh. The session brought together stakeholders from both public and private sectors, including representatives from different RMG companies interested to work in this area, with the objective of addressing various issues relevant to devising a sustainable skills development model that will be beneficial for all. The session was held at the Forum, Radius Centre, on September 26, 2012."

IDLC launches "RegistraLoan"

"Consumer Division of IDLC Finance Limited is pleased to launch ""RegistraLoan"", the First Loan of its kind in Bangladesh, on September 25, 2012. This Secured Loan is offered to property buyers and possession holders for securing ownership of apartment, commercial space and land. ""RegistraLoan"" is a secured loan against the mortgage of real estate ownership, which will help the customers manage their registration cost of the property whether they are purchasing real estate property or they already have the property under their possession, but have not registered it yet. Service-holders, professionals and self-employed persons (including business persons) may apply for this loan to cover the registration cost of the real estate property. Those who have already registered their property using own financing are also entitled to avail this loan product for reimbursement of the registration cost. Eligible customers may avail a limit of up to BDT 2.0 Million with comfortable loan tenure of maximum 10 years at competitive interest rates and processing fees."

IDLC starts environmental awareness campaign in schools

"IDLC has recently partnered with LEADS, a social organization of TRK Consultancy Services, for conducting environmental awareness campaign in different schools. The campaign will target primary school children, mainly from classes four, five and six, with the objective of creating awareness among them regarding various environmental issues, such as pollution control, efficient resource utilization, responsible practices etc. An MoU was signed in this regard between IDLC and LEADS on September 16, 2012. Mr. Selim R.F. Hussain, CEO and Managing Director, IDLC Finance Limited, and Mrs. Romina Dewan, Executive Director, LEADS, represented their respective organizations at the signing. Mr. Hussain said, “Today’s children will lead the nation tomorrow, and it is time we embed in them values and better practices for a better future”. Mrs. Romina Dewan said, “LEADS is happy to be partnering with IDLC in such a noble initiative, and we hope many more private organizations would come forward with such commitment for a better environment and community”. Under this campaign, the first event is to take place at Udayan Higher Secondary School."

IDLC undertakes tree plantation initiative at Mirpur DOHS

"IDLC has recently undertaken a tree plantation program at Mirpur DOHS (Defense Officers’ Housing Society), as part of its commitment towards neutralizing the company’s annual carbon footprint. The program is one of a series of plantation initiatives IDLC has been undertaking in different locations of the country in line with its overall environmental management plans. Mirpur DOHS is the newest and largest DOHS area in Bangladesh and IDLC is the first private organization to involve this DOHS in environmental awareness and management programs. Mr. Selim R.F. Hussain, CEO and Managing Director, IDLC Finance Limited, and Brig. General Sohail S. Sabir, ndc (Retd.), President Mirpur DOHS Porishod, represented their respective organizations at the program launch event, along with other officials. Mr. Hussain said, “IDLC is happy to be partnering the Mirpur DOHS Porishod in such a commendable environmental initiative and we look forward to many such initiatives in future aimed at a better environment”."

IDLC Finance Limited and The City Bank Limited sign fund raising agreement of USD 46.50 million and BDT 5,000 million for BSRM Steel Mills Limited

"BSRM Steel Mills Limited, a concern of the BSRM Group, has mandated IDLC Finance Limited and The City Bank Limited as joint arrangers to raise USD 46.50 million and BDT 5,000 million through a syndicated term loan facility. The funds will be used to set up a 8.6 lakh ton per annum steel melting and billet casting plant in Mirsarai, Chittagong and the arrangement will be the one of the largest-ever syndication deals in the Bangladesh steel sector. Alihussain Akberali FCA, Chairman and Managing Director of BSRM Steel Mills Limited, Selim R. F. Hussain, CEO & Managing Director of IDLC Finance Limited, and Sohail R.K. Hussain, Additional Managing Director and Chief Business Officer of The City Bank Limited recently formalized the arrangement at an agreement signing ceremony on behalf of their respective companies. Senior officials from all three institutions were also present at the ceremony. Upon signing the deal, Alihussain Akberali FCA thanked both IDLC Finance Limited and The City Bank Limited for their professionalism and responsiveness. He further explained the need for setting up the steel melting plant project which will be an import substitute product and act as an essential step in strengthening the backward integration of the Group while lessening foreign exchange pressure on the economy. Selim R.F. Hussain and Sohail R.K. Hussain both appreciated BSRM’s decision to initiate this milestone project which will contribute significantly to the infrastructure development of the country. They also thanked Alihussain for entrusting their institutions in raising funds for this prestigious project and assured him of their best services for this purpose."

IDLC Finance Ltd. organizes a training programme on “Professional Salesmanship of 21st century”

IDLC Finance Ltd. organized a two-day long training programme on “Professional Salesmanship of 21st Century” on two different sessions (July 07-08 & August 10-11, 2012) The training was arranged by Briddhi – Industrial & Marketing Consultants and conducted by Md. Akbar Hassan, CEO & Managing Director of Briddhi. 54 participants of Consumer & SME Division took part in the training.

IDLC develops and launches a dedicated website for LEADS

"IDLC has recently developed a dedicated website for LEADS (Livelihood Education and Development Services) – an NGO working for the education and healthcare of underprivileged children. The website was designed and developed by IDLC’s IT Department, while the contents were prepared by the CSR Department, as part of IDLC’s Employee Volunteering program. The website is the first step for LEADS to reach a wider group of people both home and abroad, thus enabling them to find partners who can assist them in their cause. To view the website, please visit www.leads-bd.org"

IDLC has joined the Small Business Banking Network (SBBN)

"IDLC Finance Ltd. has recently joined the Small Business Banking Network (SBBN), a global initiative of bankers, finance professionals, and experts dedicated to improving access to financial services to small businesses. This membership will make IDLC Finance Ltd. a visible, regional leader in the industry with the following benefits- --An opportunity to interact with different bankers in different parts of the world. --Access to worldwide banking practices and international best practices. --Enhanced knowledge and skills related to your core functions. SBBN’s web-based community platform will also help to get the following services: --Access to the knowledge of over 550 peer bankers from 42 financial institutions around the world and industry experts via the discussions board. --Free downloadable resources such as banking policy guides, case studies, leadership tools, and more via their Knowledge Bank (a digital library). --Quarterly webinars and events on a variety of topics in banking. --Pertinent industry information including news and events in small business banking. IDLC is the first NBFI in Bangladesh to receive the membership. Other notable members of SBBN community are Standard Bank, South Africa; Diamond Trust Bank (Burundi, Kenya, Tanzania & Uganda); Equity Bank, Kenya; Axis Bank Ltd., India; Union Bank of Colombo Limited, Sri Lanka; First Gulf Bank, UAE; and BRAC Bank Ltd., Bangladesh."

IDLC Finance Ltd. organizes a training programme on “Basic Banking Operations”

IDLC Finance Ltd. organized a four-day long training programme on “Basic Banking Operations” on (July 13-14 & 20-21, 2012). The training was arranged by IDLC Finance Ltd. and conducted by a pool of trainers of Bangladesh Institute of Bank Management (BIBM).A total of 40 participants from different departments of IDLC Finance Ltd. took part in the training sessions.

IDLC undertakes community tree plantation initiative at Satchari National Park

"IDLC signed an MoU with Satchari Nishorgo Sangastha on July 18, 2012, to undertake a community tree plantation initiative at Satchari National Park, Habiganj, Sylhet. Under this arrangement, IDLC will sponsor the plantation of 7,500 seedlings of local varieties in 500 rural households surrounding the Satchari protected forest area. IDLC is the first private organization to undertake such an initiative at Satchari, which is essentially aimed at reducing the neighboring community’s dependence on forest resources and providing them alternative livelihood options. IPAC (Integrated Protected Area Co-Management) Project of USAID will facilitate this project. Mr. Selim R.F. Hussain, CEO and Managing Director of IDLC Finance Limited; Mr. Ram Sharma, Chief of Party of IPAC Project; and Mr. Md. Wahed Ali, President of Satchari Nishorgo Sangastha, represented their respective organizations at the event, along with other officials. Mr. Hussain stated, “IDLC is delighted to be part of this initiative, which is in line with the Group’s CSR commitment for environmental conservation and sustainable livelihood generation for underprivileged people”. The plantation is scheduled to be completed by August 2012."

IDLC partners with ABC Radio for CSR Initiatives

"IDLC Finance Limited has partnered with ABC Radio, one of Bangladesh’s leading FM Radio Stations, in sponsoring and organizing various environmentally and socially responsible initiatives. The partnership was formalized by signing a Memorandum of Understanding (MoU) on July 1, 2012. Mr. Selim R.F. Hussain, CEO and Managing Director of IDLC Finance Limited, and Mr. M. Sanaullah (Lablu), Chief Operating Officer, ABC Radio, represented their respective organizations at the signing. Mr. Sanaullah commented, “ABC Radio was looking forward to this partnership as it would enhance its own CSR initiatives”. Mr. Hussain stated, “The IDLC group is delighted to be working with a media partner who shares the same values to develop a better environment and community”."

IDLC has earned the prominent membership of IFG

"IDLC has earned membership status as a shareholder at International Factors Group (IFG), an international association of factoring companies. IDLC is the first financial institution in Bangladesh to receive the membership. By getting this status, IDLC will be able to access various network building and knowledge sharing initiatives of IFG in the field of Factoring business. The IFG membership is expected to help IDLC with many profitable business and learning opportunities in the area of supplier financing. This would also help IDLC to understand and apply international best practices related to Factoring business. IFG was founded in 1963. The core activity of IFG is to help factoring companies to conduct cross-border business acting as correspondents for each other. In 2002, IFG has taken up this challenge, and today, it is recognized as the representative Trade Association for the Factoring and Asset Based Finance Industry, with an important focus on education and events, industry information and regular news and newsletters. Presently, IFG is represented in more than 50 countries by more than 160 members."

Best Holdings Limited Signs BDT 4.60 Billion Syndicated Fundraising Deal with IDLC Finance Limited to Setup 'Le Meridien Dhaka'

"Best Holdings Limited (BHL), a Concern of Metro Group, has recently mandated IDLC Finance Limited, as the Lead Arranger to raise BDT 4.60 Billion/USD 55 Million for setting up a 300-room luxury hotel at Nikunjo along the Airport Road. Amin Ahmad, Chairman & Managing Director of Best Holdings Limited and Selim R F Hussain, CEO & Managing Director of IDLC signed a term sheet for fund raising on behalf of their respective companies. Other senior officials from both companies also attended the Signing Ceremony. Upon signing the deal, Amin Ahmad said “This new hotel, which will be operated by the world’s largest hotel company and one of the most recognizable hotel brands, will significantly upgrade business-class traveler comfort in Dhaka”. Selim R.F. Hussain, CEO & Managing Director of IDLC Finance Limited, said “IDLC is delighted to partner the Metro Group in this exciting project and also believes the hotel will provide a boost to economic activity in Dhaka city.” The BHL owned hotel, currently under construction, is expected to go into commercial operation by July 2013 and will be operated by Starwood Hotels & Resorts Worldwide, Inc. under the “Le Méridien” brand."

IDLC sponsors 10 specially-challenged children

"IDLC has recently signed an agreement with SEID Trust to sponsor 10 specially-challenged children for one year. SEID Trust is a voluntary non-government organization that works for the rights and social inclusion of underprivileged children with physical and mental disabilities, including autism. IDLC has been a regular contributor to SEID Trust for more than 6 years. “We are privileged to be able to support 10 specially-challenged children. We believe that our initiative will make a difference in their lives by helping them pursue their educational goals and develop the skills necessary to be successful in the workplace”, said Mr. H.M. Ziaul Hoque Khan, Deputy Managing Director of IDLC Finance Limited. Ms. Dilara Satter Mitu, Director, SEID Trust was also present in the event."

IDLC Finance Ltd. organizes a training programme on “Customer service & Service excellence”

IDLC Finance Ltd organized a two-day long training programme on “Customer Service & Service Excellence” in two different sessions (May 25-26 & June 08-09, 2012). The training was arranged by Briddhi – Industrial & Marketing Consultants and conducted by Md. Akbar Hassan, CEO & Managing Director of Briddhi. A total of 53 participants of Credit Administration Department took part in the training sessions.

IDLC signs MOU with Finlay Properties Limited

"IDLC Finance Limited has recently signed an MOU with Finlay Properties Limited, with the objective of providing better customer service facilities in the housing and real estate sector. With this arrangement, IDLC will offer financing at flexible terms and condition to the clients of Finlay Properties Limited. Mofakkharul Islam Khasru, Managing Director, Finlay Properties Limited, and Irteza A. Khan, Head of Consumer Division, IDLC Finance Limited, signed the MOU on behalf of their respective organizations. Md. Abdullah Naser, Head of Sales and Customer Management, and Md. Ali Karim, Head of Corporate Services, Finlay Properties Limited, and Bishakha Mazumdar, Senior Manager, and Md. Masudur Rahman, Manager, Consumer Division, IDLC Finance Limited, were also present in the event."

'Green' wishes to everyone on 'World Environment Day' !

"IDLC celebrates the 40th anniversary of World Environment Day by distributing pot plants to its clients with the message “Let’s Make a Greener Planet!” Our CEO and Managing Director, Mr. Selim R.F. Hussain, has also been invited by ABC Radio as guest speaker on a special talk show on CSR and World Environment Day. World Environment Day this year is being celebrated with the theme ‘Green Economy: Does it include you?’– urging every individual to play their part by doing even the smallest things like planting trees, turning off the light when leaving a room, using water responsibly, using less paper etc. Together, even these small changes can build an economy that is low in carbon emission, is energy and resource efficient, and an economy that cares for the people. So, let’s all remember to do at least one thing this year to make our planet cleaner and greener!"

IDLC Finance Holds Workshop on Anti-Money Laundering & Anti-Terrorism Regulations

"IDLC Finance Limited, the largest multi-product Non- Banking Financial Institution in Bangladesh, recently organized a middle-management workshop on Anti-Money Laundering & Anti-Terroism Regulations at Nabab Nawab Ali Chowdhury Senate Bhaban, Dhaka University. 75 executives of different branches and capital market units participated in the workshop, which was conducted by Md. Eskandar Miah, Deputy General Manager, Bangladesh Financial intelligence unit, Bangladesh Bank and Mohammad Mahbub Alam, Deputy Director, Bangladesh Financial Intelligence Unit, Bangladesh Bank. The workshop educated the audience regarding the Money Laundering Prevention Act, the Anti Terrorism Act, consequences of non-compliance, provided guidance on how to prevent and detect Money laundering, etc. Selim R.F. Hussain, CEO & Managing Director of IDLC Finance Limited, said, “IDLC has always been a standard-bearer for statutory compliance in the financial industry and we intend to ensure that this reputation remains untarnished. The other priority is to train and develop our talent pool and this particular program also ensures that objective is being met.”"

IDLC Securities Holds Investors Awareness Program

"IDLC securities Ltd, a fully owned subsidiary of IDLC group has recently organized “Investors’ Awareness Program” at Gazipur & Narayangonj. Md. Saifuddin, Managing Director of IDLC Securities Ltd presided over the program. Saifur Rahman, Executive Director of SEC, discussed on the regulatory framework of capital market. Md. Moniruzzaman, Managing Director of IDLC Investments Ltd, was also present in the program. The program was aimed at creating awareness among investors relating to the stock market, gaining knowledge on the companies listed with SEC, decision making in connection with the investment and method of selecting right securities based on fundamentals. During the question and answer session investors asked a variety of questions regarding stock market and repayment of margin loans as well as optimal utilization of margin loan. “These programs of direct interaction between investors and officials will reduce the communication gap to a greater extent and allow investors to make more conscious decision”, said Md. Saifuddin, Managing Director of IDLC Securities Ltd. Over 500 investors were present in both the programs. IDLC Securities plans to hold a series of similar awareness programs in the months to come."

IDLC Finance Ltd. organizes a training programme on “Professional salesmanship of 21st century”

IDLC Finance Ltd. organized a two-day long training programme on “Professional Salesmanship of 21st Century” on May 04-05, 2012. The training was arranged by Briddhi – Industrial & Marketing Consultants and conducted by Md. Akbar Hassan, CEO & Managing Director of Briddhi. 25 participants of Consumer Division took part in the training.

IDLC has published its first Annual Sustainability Report in May 2012

"IDLC has published its first Annual Sustainability Report on May 3, 2012. The report titled “Annual Sustainability Report 2011” communicates IDLC’s responsible policies and practices in 2011, while marking a clear distinction between Corporate Philanthropy, and Corporate Social Responsibility, also termed as ‘Sustainable Business’. The report also covers the Group’s future strategies for sustainable development by creating long-term value for its stakeholders, environment and the broader community. In Bangladesh, IDLC is one of the very few organizations to publish a dedicated Sustainability Report. The report has been prepared following the Global Reporting Initiative (GRI) Guidelines – the internationally accepted standard for sustainability reporting. The report acts as a tool for IDLC to remain accountable to its stakeholder groups, while adding to the company’s reputation and image as a responsible and trusted brand."

IDLC declares 25% stock dividend at its 27th AGM

"The 27th Annual General Meeting (AGM) of the shareholders of IDLC Finance Limited was held on Wednesday, March 28, 2012 at the Trust Milonayaton, Dhaka. The Co. has approved 25 percent stock dividend (Bonus shares) for its shareholders for the year 2011. At the end of 2011, the IDLC Group’s customer loans & advances were Tk 26,357M, a 24% year-over-year increase, while customer deposits grew by 36% to Tk 17,638M. Non-performing-loans had dropped from 2.84% in 2010 to 2.32% in 2011. Anwarul Huq, Chairman, IDLC Finance Limited presided over the AGM, which was also attended by other Directors – Farooq Sobhan, K.M. Sattar, Habibur Rahman Mollah and the CEO & Managing Director, Selim R. F. Hussain. A large number of shareholders were present at the meeting. The Chairman and Managing Director both welcomed the assembled shareholders and thanked them for their continued sponsorship of IDLC Finance. The MD then stated that IDLC’s core business drivers, customer deposits and loans had grown satisfactorily in 2011 despite the liquidity squeeze and other challenges experienced in the financial sector. He emphasized that IDLC had very ambitious growth plans over the next five years and was building its capacity, in terms of people, premises and technology, to support such growth. The IDLC Group has recently been re-branded with the launching of a new logo and a new tagline, “Financing Happiness”, to complement the brand. IDLC believes that new logo will continue to reflect the company’s traditional strengths, its strong reputation for corporate governance, statutory compliance and stability, while showcasing new energy and innovation through a modern outlook."

IDLC Unveils New Logo, commits to ''Financing Happiness"

"IDLC, the largest multi-product Non- Banking Financial Institution in Bangladesh, unveiled a striking new logo at a press conference in Dhaka on March 11, 2012. The Company also launched a new tagline and operating philosophy, “Financing Happiness”, to complement the new logo. The new logo design is predominantly red & black while the tagline is written in grey. IDLC believes that new logo will continue to reflect the company’s traditional strengths, its strong reputation for corporate governance, statutory compliance and stability, while also showcasing new-found qualities of energy and innovation through a modern outlook. Anwarul Huq, Chairman of IDLC Finance, said, “We are confident the new brand will stand out amongst the crowd and clearly differentiate IDLC from competitors”. Selim RF Hussain, IDLC Finance CEO and Managing Director also emphasized that, “It is the staff of the IDLC Group who individually, and collectively, must take ownership of their brand” and he requested them “to become ambassadors for the IDLC Brand”. The new logo has been polled out across a wide range of applications namely press, online and digital."

H. M. Ziaul Hoque Khan appointed as DMD of IDLC Finance Ltd

"H. M. Ziaul Hoque Khan has been promoted as the Deputy Managing Director (DMD) of IDLC Finance Limited effective from March 1, 2012. Zia, who joined IDLC in 1999, was serving as Chief Financial Officer and General Manager before his current promotion with the Finance, Treasury, Stakeholders Affairs and Administration Division reporting to him. He is also a Director of IDLC Investments Limited and IDLC Securities Limited, two wholly-owned subsidiaries of IDLC Finance Limited. “Zia is a key member of the IDLC Group Management Committee,” said Selim R.F. Hussian, IDLC’s CEO and Managing Director. “He is an important custodian of the Corporate Governance standards that the IDLC Group proudly follows and his professional skills and leadership qualities have contributed strongly to the Group’s growth and success in recent years.” A Chartered Accountant Zia also obtained his Bachelor of Commerce (Honors) and Masters degree in Accounting from the University of Dhaka; and Master of Business Administration (MBA) degree from North South University, Dhaka. The IDLC Group is the largest multi-product Non- Banking Financial Institution in Bangladesh with 850 staff and a broad range of Corporate, SME, Consumer and Capital Market products."

Carbon Footprint Analysis of IDLC Branches, our commitment to environmental sustainability

"IDLC signs agreement with Waste Concern Consultants on January 22, 2012, to conduct Carbon Footprint Analysis of three IDLC branches, as part of its commitment to environmental sustainability. Mr. Selim R.F. Hussain, CEO and Managing Director, IDLC Finance Limited, and Mr. Iftekhar Enayetullah, Managing Partner, Waste Concern Consultants, represented their respective organizations in the signing ceremony. Carbon footprint is a measure of the Green Houses Gases (GHG) emitted through day-to-day human and organizational activities. Considering IDLC’s nature of operations as a financial institution, eight major sources have been identified for IDLC that are responsible for GHG emission: electricity, gas, diesel, octane, CNG, paper, organic waste and air travel. The emission data will be calculated in tons per year, and based on that, per capital GHG emission for IDLC employees will be determined. Accordingly a carbon neutral program will be developed, detailing measures aimed at direct reduction within the organization, supplemented by green projects or initiatives outside the organization that can further neutralize IDLC’s carbon footprint. Waste Concern Consultants is a leading consultancy firm based in Bangladesh, offering consultancy services and project assistance for capacity development with regard to environmental sustainability through better prevention, control and management approaches. The project is due to start from February 07, 2012."

IDLC is now in Jessore; Donates Computers to 3 Schools

"IDLC Group, the largest multi-product Non-Bank Financial Institution in Bangladesh, is now in Jessore with a wide range of products. Honorable District Commissioner of Jessore, Md. Mustafizur Rahman, and Selim RF Hossain, CEO and Managing Director of IDLC Finance Limited together inaugurated the Jessore branch. To mark this occasion and, in line with their social commitments, IDLC donated computers for students in 3 schools in Jessore. IDLC began its operations in 1985 and currently has over 800 staff, offering a diversified range of products in Corporate, SME, Personal and Capital Market segments. On the occasion, Selim RF Hussain, CEO and Managing Director, said “We believe that our new branch will help cater to the financial needs of the people in Jessore. We are also proud to contribute towards helping children improve their computer literacy.” Local elites, business people and customers were also present in the inauguration program."

IDLC stands by winter-affected people

"IDLC Group steps into 2012 by strengthening its resolution to stand by the underprivileged people in our community. On January 4 and January 5, 2012, IDLC distributed warm clothes and blankets among the ultra-poor segments affected by the bitter cold in a total of 22 locations at Bogra, Jessore, Sirajganj, Natore and Gaibandha. Employees in IDLC’s Bogra branch and the newly-established Jessore branch enthusiastically volunteered in the distribution program, while employees of IDLC Group extended their support by donating warm clothes for the poor. The distribution program was arranged in cooperation with BRAC – the largest and most noted NGO in Bangladesh. Mr. H.M. Ziaul Hoque Khan, Chief Financial Officer, and Mr. Zahid Ibne Hai, Head of SME, were present at the event at Jessore, and the event at Bogra was preceded by Mr. Md. Mohidur Rahman, AGM, SME. It may be mentioned here that IDLC donates a large quantity of warm clothes and blankets through its Bogra branch every year to the winter-effected people in North Bengal."

IDLC stands by the Marginalized this winter

"IDLC stands by the marginal people this winter by distributing around 3,000 blankets and warm clothes among them. The target areas were Rangpur, Nilphamari and Kurigram in North Bengal, and different parts of Jessore and Chittagong – areas affected by extreme weather conditions. IDLC makes such contributions every year as part of its CSR commitment, besides undertaking projects and programs aimed at the well-being of the environment and the broader community. The program was jointly coordinated by IDLC and Shiree, a UK-based organization working for the development of the extreme poor. IDLC staff and clients were actively engaged in the distribution process, along with members from Care Bangladesh, Practical Action Bangladesh and MJSKS (Mahideb Jubo Somaj Kallayan Somity) – IDLC’s NGO partners for this program."

ICAB Awarded IDLC First Position in the Financial Service Sector Category

"IDLC Finance was awarded the first position under the Best Published Accounts category in the Financial Service sector by The Institute of Chartered Accountants of Bangladesh (ICAB) Awards held on 21 December 2013. IDLC was recognized for its transparency, corporate governance, integrity and accountability. IDLC Finance was also awarded the second position under the category of ‘SAARC Anniversary Award for Corporate Governance’. IDLC Finance MD & CEO, Selim R.F. Hussain received the 2012 award from Mr. Abul Maal A Muhith, MP, Finance Minister, Government of Republic of Bangladesh."

Panigram Resort Mandates IDLC Finance for Arranging BDT 502.62 Million Syndication Fund for establishing a 5-Star Boutique Eco Resort and Spa at Jessore

"Panigram Resort Limited has recently mandated IDLC Finance Limited as the Lead Arranger and Agent for raising BDT 502.62 million Term Loan and Working Capital facility for setting up a socially and environmentally responsible boutique eco resort and spa in Jessore. The resort is located 70 km from Sundarbans Forest, a UNESCO World Heritage Site. Panigram having 34 banglows will be designed to showcase Bangladeshi culture and will have a large number of activities that give guests a taste of Bangladeshi village life. Panigram will be one of the few resorts that have a spa and wellness center and the only resort whose unique spa treatments are based on the health and beauty traditions of the Indian subcontinent. Expatriates, NRBs, large multinational & local corporate houses and avid local/foreign travelers will be able to enjoy true 5 (five) star facilities that promises to make their stay memorable. The project will go into operation in the mid-2014 as expected by the sponsors. Selim R.F. Hussain, Managing Director of IDLC Finance Limited and Kristin Kay Boekhoff, Managing Director of Panigram Resort Limited signed the term sheet on behalf of their respective companies. Both voiced the requirement of implementing the project in due time and appreciated the concept of the resort that will provide the visitors an authentic experience of what Bangladeshi culture has to offer. The senior officials from Panigram and IDLC Finance were present in the Term Sheet signing ceremony."

IDLC Finance Launches 'SME Welcome Pack'

"IDLC Finance Limited, in keeping with its pledge to offer innovative financial services to its customers, recently has introduced a ‘SME Welcome Pack’ for its new SME customers. The Welcome Pack will offer discounts on goods and services in a wide variety of stores, ranging from furniture to clothing etc. The company has also introduced a new ‘SME Loan Application Form’ – which is aimed to make SME loan application the simplest and the most customer friendly. Shukomol Sinha Chowdhury, General Manager, SME & Special Programs Department of Bangladesh Bank, Selim R.F. Hussain, Chief Executive Officer & Managing Director, IDLC Finance Ltd., Zahid Ibne Hai, General Manager and Head of SME, IDLC Finance Ltd. and other senior officials from Bangladesh Bank and IDLC Finance Ltd. attended the launching ceremony."

IDLC generates permanent employment for 20 marginal people from North Bengal

"IDLC, under its CSR project titled “Skills Development and Sustainable Livelihood” following a public-private partnership approach, has generated permanent employment for 20 marginal people from the most impoverished regions of North Bengal. The project provides 3-month training to marginal people from North Bengal targeting employment in RMG sector as machine operators. Fareast Knitting and Dyeing Industries Limited, one of IDLC’s corporate clients, is providing employment to these people; TVET Reform Project of ILO Bangladesh, and Gazipur Technical School and College under the Directorate of Technical Education, are providing the training; CARE Bangladesh and Shiree are sourcing people from North Bengal; while IDLC is in overall management and coordination of the project. It is jointly being funded by Fareast and IDLC, while the training machineries were provided by EU. The first batch of 20 joined Fareast on October 1 as machine operators (at various grades depending on their efficiency). They will be drawing minimum basic salary as per industry practice. A certification program was held on October 6 at Fareast factory, awarding the trainees for their accomplishment, while the second batch of 23 trainees was formally inaugurated, who are currently undergoing the training program. This has been a significant milestone for IDLC in contributing to community empowerment through sustainable livelihood generation. IDLC hopes to replicate this model across other regions as well to leverage more from the success of this project."

IDLC Finance Holds Workshop on Anti-Money Laundering & Anti-Terrorism Regulations

"IDLC Finance Limited, the largest multi-product Non-Banking Financial Institution in Bangladesh, recently organized a day-long workshop on Anti-Money Laundering & Anti-Terrorism Regulations for its employees. Branch managers, mid level executives and IDLC’s capital market units participated in the workshop, which was inaugurated by M. Mahfuzur Rahman, Executive Director, Bangladesh Bank. The workshop was conducted by Mohammad Mahbub Alam, Joint Director, Bangladesh Financial Intelligence Unit and Md. Masud Rana, Deputy Director, Bangladesh Financial Intelligence Unit, Bangladesh Bank. The workshop educated the audience regarding the Money Laundering Prevention Act, the Anti Terrorism Act, consequences of non-compliance, provided guidance on how to prevent and detect money laundering and terror financing etc. Selim R.F. Hussain, CEO & Managing Director of IDLC Finance Limited, said, “IDLC has always been a standard-bearer for statutory compliance in the financial industry and we intend to ensure that this reputation remains untarnished. He also addressed AML compliance framework at IDLC, importance of KYC (Know Your Customer) and KYE (Know Your Employee) etc. M. Mahfuzur Rahman, Executive Director, Bangladesh Bank, congratulated IDLC for taking this initiative and emphasized all out support from the central bank in helping to educate staff in the financial sector in these new concepts."

IDLC Signs a MoU with Grameenphone on Vehicle Tracking System Services

"IDLC Finance Limited has recently signed a Memorandum of Understanding (MoU) with Country’s Largest Telecom Operator Grameenphone Ltd. on Vehicle Tracking Systems. Mr. Irteza A. Khan, Head of Consumer Division, IDLC Finance Limited and Mr. Ferdous Alam Khan, Head of Business Market, Grameenphone Limited signed the MoU on behalf of respective organizations. Senior Officials from both companies were also present during the MoU signing event. In order to offer Value Added Services to its customers, IDLC Consumer Division always looks for effective initiatives. As a part of those initiatives, IDLC is now proud to be associated with Grameenphone Limited for offering the best possible VTS services in the country with attractive features. Under this partnership agreement, all customers & employees of IDLC Group will avail the VTS services from Grameenphone at a special price."

IDCOL and IDLC Sign MoU for Financing Solar Home System (SHS) Equipment Suppliers

"A Memorandum of Understanding (MoU) was signed between Infrastructure Development Company Limited (IDCOL) and IDLC Finance Limited on 24 July 2013. Under this MoU, IDCOL will provide advisory services to IDLC for the latter to design and launch new financial products for the suppliers under IDCOL Solar Home System (SHS) Program. IDCOL’s SHS Program is one of the largest and most successful renewable energy programs in the world with more than 2.3 million SHSs having been installed under the program. IDCOL has already covered 6% of the country’s entire population with SHS and also has plans to finance 4 million such systems by 2015. IDLC has pioneered both Leasing and Supplier Finance services in Bangladesh and is the largest multi-product Finance Co. in the country. IDLC will finance enterprises who supply equipments to the Participating Organizations (PO) of IDCOL’s Solar Home System (SHS) Program. Selim RF Hussain, CEO & Managing Director, IDLC Finance Limited and Mahmood Malik, Executive Director and CEO, IDCOL signed the MoU on behalf of their respective organization. Other senior officials of the organizations are also seen in the picture."

IDLC joins hand with Mirpur DOHS for a greener environment

"IDLC is sponsoring plantation of 1,000 saplings at Mirpur DOHS (Defense Officers’ Housing Society). This is part of IDLC’s on-going campaign consisting of initiatives such as regular plantation activities, environmental awareness creation among various stakeholder groups, and increasing focus on green financing opportunities, with the objective of reducing its carbon footprint and contributing to a greener environment. The sponsorship amount was handed over at a formal ceremony arranged at IDLC on July 31, 2013. Brig. General Sohail S. Sabir, ndc (Retd.), President Mirpur DOHS Porishod, and Mr. Selim R.F. Hussain, CEO and Managing Director, IDLC, represented their respective organizations in the event. Mirpur DOHS is the newest and largest DOHS area in Bangladesh and IDLC is the first private organization to partner with DOHS in such environmental initiatives. IDLC had conducted another plantation activity at Mirpur DOHS in September 2012 as well."

IDLC partners with LEADS for providing better opportunities to underprivileged children

"The IDLC Group is sponsoring fifteen (15) underprivileged children of the Livelihood Education and Development Service (LEADS) for six (6) months. The sponsorship amount includes expenses for education, healthcare, food and other associated services for these children. A cheque was handed over to LEADS through a formal ceremony at IDLC. Mr. Selim R.F. Hussain, CEO and Managing Director, IDLC, and Mrs. Romina Dewan, Executive Director, LEADS, represented their respective organizations in the event. LEADS is the social organization of TRK Consultancy Services, working for better education of the underprivileged children enrolled in different government primary schools. The main objective of the initiatives is to reduce dropout rates of primary school children, provide better educational facilities to these children and contribute to their overall development. IDLC has been a regular partner of LEADS since 2011. IDLC is also conducting environmental awareness programs across different schools jointly with LEADS."

IDLC and MetLife Alico Sign Credit Life Insurance for SME Customers

"Leading financial institutions - IDLC Finance and MetLife Alico - have joined together on a brand new partnership with the launch of ‘Credit Life Insurance’ for IDLC SME Customers. ‘Credit Life Insurance’ is a life insurance coverage facility for small and medium sized business entrepreneurs, financed by IDLC Finance Limited. SME customers of IDLC Finance can enjoy the benefits of this service. With this partnership, MetLife Alico will provide insurance coverage against death of IDLC SME customers during the tenure of the loan. All existing and future SME customers of IDLC would be entitled to receive this unique insurance benefit. IDLC SME customers will also get privileged interest rate on loans having insurance facility. Zahid Ibne Hai, General Manager & Head of SME of IDLC Finance Limited and Akhlaqur Rahman, Chief Operating Officer, Metlife Alico Bangladesh have signed the partnership on behalf of their respective companies. Selim R F Hussain, CEO & Managing Director, Ziaul Hoque Khan, Deputy Managing Director of IDLC Finance Limited, M. Nurul Islam, Regional Sr. Vice President - Head of South Asia, Syed Hammadul Karim, Deputy General Manager, Bangladesh of MetLife Alico and other senior officials from the concerned companies attended the Signing Ceremony."

IDLC undertakes Model Village Project at Sadarpur, Pairabond, Rangpur

"As part of the Model Village Project undertaken jointly with VSO Bangladesh, IDLC conducted a number of activities at the target village of Sadarpur village, Pairabond, Rangpur, on Friday, June 28, 2013. A day-long session was arranged for 30 members of the village Youth Club, on basic accounting and book-keeping practices. The session was conducted and the training materials were developed by members of IDLC’s Finance and SME Departments, as part of their Employee Volunteering activities. At the end of the session, more than 300 saplings of local varieties of fruit-bearing trees were distributed to 50 marginal households of the village. Over the next 2-3 years, the proceeds from these trees are expected to increase their income generating capacities. Moreover, an IT Centre has already been set-up in the village Youth Club, with computers donated by IDLC, for better accessibility of the youth to computers. A guideline for basic computer operations was provided by our IT Department to help the users develop their skills. IDLC had signed an MoU with VSO Bangladesh in March 2013 for a year-long Model Village Project, targeting youth and community empowerment, sustainable livelihood generation, environmental management, and primary healthcare awareness through various activities. A health camp for the villagers had earlier been arranged in May 2013. Pairabond Jono Kallan Unnayon Sangstha (PJKUS), a local NGO, is also working in close collaboration with VSO Bangladesh for overall management, implementation and monitoring of the project activities. To view the pictures, please Click Here ."

IDLC Finance Limited and Tradexcel Auto Bricks Limited sign a syndication agreement to raise Tk. 39 crore

"Tradexcel Auto Bricks Limited has mandated IDLC Finance Limited to arrange BDT 390.51 million term loan and working capital facility to set up an energy efficient ‘Tunnel Kiln’ brick project in Gazipur. The project will generate 30 million bricks per annum. Traditional brick projects are the largest contributors of Green House Gas (GHG) in our country – accounting for 38% of Bangladesh’s air pollution or approx. 9.81 million ton of CO2 per year. A number of Development/Multilateral Agencies are heavily endorsing the restructuring of the Bangladesh brick sector by promoting several Energy Efficient Brick Kiln (EEKs) technologies. Once these projects are implemented, they will significantly address the current demand-supply gap for quality bricks and also reduce existing GHG emissions in the country. Rezwan Rahman, Managing Director, Tradexcel Auto Bricks Limited and Selim R. F. Hussain, CEO & Managing Director of IDLC Finance Limited recently formalized the arrangement at an agreement Signing Ceremony on behalf of their respective companies. Senior officials from both the institutions were also present at the Ceremony."

IDLC Wins the "DHL-Daily Star Best Financial Institution Award for 2012"

"IDLC Finance has been awarded the DHL-Daily Star Best Financial Institution for 2012 at the 13th DHL-Daily Star Bangladesh Business Award ceremony on 31st May, 2013. This is the first time a non banking financial institution has won what is arguably the most prestigious award of its kind in Bangladesh. The Award states that IDLC Finance was recognized as the Best Financial Institution for rapid growth in business, corporate governance, statutory compliance and ethical practices. In the three years starting 2010, Idlc’s deposit base and core lending portfolio (Corporate, SME & Consumer) have both more than doubled. Accepting the trophy, Selim RF Hussain, Chief Executive Officer & Managing Director of the company, said: “We do not restrict ourselves to traditional practices and focus meeting the client’s requirements through innovative solutions. We try to add value to our customers, clients and all other stakeholders. Our USP (unique selling proposition) is being able to say yes or no quickly. We respect our clients and work to earn their trust.” Hussain has been leading the company since 2010 and has doubled the co’s branch numbers, doubled its head-count, significantly grown Balance Sheet and has also delivered year-on-year reductions in non-performing loan ratios. The DHL-Daily Star Bangladesh Business Award is an annual event of DHL Worldwide Express (BD) Pvt Ltd and The Daily Star to honour successful business personalities and business houses for outstanding performance, innovations, sustainable growth in profit and extraordinary contribution to society under corporate social responsibility."

IDLC Acts as Lead Arranger and Agent for the implementation of Le Meridien Dhaka - a new 5 star hotel

"IDLC Finance Limited has arranged a Syndicated Term Loan of BDT 5.60 billion for the implementation of a 5 star hotel under the brand name of Le Meridien Dhaka. The facility is aimed to finance the capital expenditures of the hotel project. IDLC Finance Limited is assuming the role of Lead Arranger and Agent to the Facility. National Credit and Commerce Bank Limited, United Commercial Bank Limited and Trust Bank Limited have acted as co-arranger for the syndication. Total 7 Banks and 2 NBFIs have participated in this syndicaton; the participants include National Credit and Commerce Bank Limited, United Commercial Bank Limited, The City Bank Limted, Trust Bank, IDLC Finance Limited, Uttara Finance and Investments Limited, Jamuna Bank Limited, One Bank Limited and Standard Bank Limited."

IDLC spends a day with "Families for Children"

"IDLC’s Consumer and CSR Department have jointly arranged an event at “Families for Children”, an orphanage based in Uttara. The day-long program was full of fun-filled activities, in participation of the children and IDLC representatives. The day was marked by cultural programs performed by the children of the orphanage, followed by indoor game competitions with the games and sports items provided by IDLC (Table Tennis Set, Carom Boards, Chess, Football, Cricket Set etc.) so that the children can enjoy their spare times. Books were also provided to the winners and participants of the competition. Later on, lunch was provided to all the children and staff of the orphanage. The children actively participated in all activities and also took pictures with the members of IDLC. “Families for Children” is a Canadian-funded orphanage housing 150 orphan children of varying ages, providing them education, healthcare, livelihood support, and the much needed care and affection for them to lead a better life. IDLC is very pleased to be a part of such an initiative and plans to arrange similar initiatives with children from different orphanages, to bring a smile on their faces and make this day special for them. However, IDLC’s commitment does not end in this one day only; rather we will continue to be associated with these children in future as well. To view the event pictures, please Click Here ."

IDLC signs MOU with Haq's Bay

IDLC Finance’s Consumer Division has recently signed a memorandum of understanding (MoU) with Haq’s Bay Automobiles Ltd. on April 01, 2013. Haq's Bay is a leading company in Bangladesh involved in imports, and local distribution business of automobiles. It has more than 40 years of proven track record in sales and distribution of nearly every Kind of brand new and reconditioned vehicles with quality after sales service. Under this agreement, customers of both parties will enjoy better pricing and services from both the companies. IDLC and Haq’s Bay will promote one another as strategic partners to their prospective clients and engage in cross-selling purposes. Mr. Irteza A. Khan, Head of IDLC Consumer Division, & Mr. Abdul Haque, Managing Director of Haq’s Bay, signed the agreement on behalf of their respective organizations. Senior Officials from both companies were present during the MoU signing event.

IDLC declares 30% stock dividend at its 28th AGM

"The 28th Annual General Meeting (AGM) of the shareholders of IDLC Finance Limited was held on Monday, March 25, 2013 at the Bashundhara Convention Center, Dhaka. The Company. has approved 30 percent stock dividend (Bonus shares) for its shareholders for the year 2012. Amid intense competition among the banks and financial institutions IDLC continued to maintain its growth both in terms of business volume and profitability. The Company saw an impressive growth in Net Profit by about 213 million taka or 42% higher over last year. At the end of 2012, the IDLC Group’s customer loans & advances were Tk 32,595 million, a 24% year-over-year increase, while customer deposits grew by 31% to Tk 22,008 million. Non-performing-loans had dropped from 2.32% in 2011 to 2.09% in 2012. Anwarul Huq, Chairman, IDLC Finance Limited presided over the AGM, which was also attended by other Directors – Rubel Aziz, Md. Habibur Rahman Mollah, K. Mahmood Sattar, Farooq Sobhan, M. Amanullah and the CEO & Managing Director, Selim R. F. Hussain. A large number of shareholders were present at the meeting. The Chairman and Managing Director both welcomed the assembled shareholders and thanked them for their continued sponsorship of IDLC Finance. The Chairman said that 2012 had been a landmark year for IDLC because of the major investments in Branding, Core Technology Platform and Process Re-engineering. The group's infra-structure had been significantly enhanced and Business Growth had accelerated despite the challenges in the business environment. Shareholders, too, voiced their appreciation at the significant step up in the Group's operations."

IDLC Awarded by South Asian Federation of Accountants (SAFA)

"IDLC is proud to have been awarded the South Asian Federation of Accountants (SAFA) award 2011 under the title ‘Best Presented Annual Report Awards and SAARC Anniversary Awards for Corporate Governance Disclosures 2011’. IDLC Finance MD & CEO, Selim R.F. Hussain and DMD & CFO, H.M. Ziaul Hoque Khan received the award at the prestigious SAFA 2011 Awards ceremony held on March 22, 2013 in Colombo, Srilanka. IDLC has been awarded as Winner, Financial Services Sector SAARC Countries and Overall Winner, All Sectors SAARC Counties."

IDLC signs MoU with VSO Bangladesh for Model Village Project

"IDLC has recently signed an MoU with VSO Bangladesh for undertaking a Model Village Project at Sadarpur village in Rangpur, North Bengal. Under this project, IDLC will conduct various initiatives in areas such as youth and community empowerment, sustainable livelihood generation, environmental management, and primary healthcare awareness, over a period of one year. Mr. Selim R.F. Hussain, CEO and Managing Director, IDLC Finance Limited, and Ms. Shahana Hayat, Country Director, VSO Bangladesh, represented their respective organizations in the MoU signing event today at IDLC CHO. Mr. Sukamal Sinha Choudhury, GM, SME and Special Programmes Department, Bangladesh Bank, was also present as the Special Guest in the event. VSO Bangladesh is an UK-based development organization fighting poverty and social injustice in developing countries worldwide. At present, they are working in 30 villages across Bangladesh under this approach. International volunteers are placed in these model villages to combine their expertise and knowledge with the local community volunteers. At IDLC’s target village, two volunteers from Kenya and Romania have been placed for overall support and coordination."

IDLC sponsors 15 specially-challenged children

"IDLC is sponsoring 15 specially-challenged children from SEID Trust for one year. A cheque was handed over to SEID Trust through a formal ceremony on February 19, 2013. IDLC has been a regular partner of SEID Trust for the last seven years. Initially we started by sponsoring 3 children and that number has now reached 15. SEID Trust is a voluntary non-government organization working for the rights and social inclusion of underprivileged children with physical and mental disabilities, including autism. At present, they are operating four centers in and around Dhaka with over 450 children, aided by both individual and institutional sponsorships."

Environmental awareness session at Jhigatola and Dhaka Residential

"In line with its ongoing environmental campaign across different schools, IDLC and LEADS have recently conducted similar sessions at Jhigatola Governtment High School and Dhaka Residential Model College, on February 11 and February 14, 2013, respectively. The half-day sessions consisted of presentations, workshops and team-based activities with 50 students, focusing on causes of environmental pollution and wastage of resources, while the students came up with feasible and easily adaptable solutions to mitigate these problems. They were also assigned the task to share this knowledge with their families, relatives and friends, and each student nominated a friend to participate in a follow-up session and share updates of these activities. Moreover, special stickers with responsible messages, and tri-color waste bins were also provided to the schools authorities. Similar sessions had earlier been conducted at Udayan Higher Secondary School , Viqarunnisa Noon School and College and Bangladesh International School and College ."

IDLC arranges blood donation program in Chittagong

"IDLC has recently arranged a blood donation program in Chittagong, on Sunday, February 10, 2013. The program was organized by IDLC’s Agrabad branch, and the joint beneficiaries were Bangladesh Thalassaemia Hospital and Lions Club of Chittagong Karnaphuli. IDLC officials, along with regular donors of Lions Club, donated blood in this event."

IDLC Cash Management Success Featured in Citi ' s Asia Pacific Client Casebook

"DHAKA – Citibank, N.A., Bangladesh recently celebrated the inclusion of IDLC Finance Limited in Citi’s prestigious Asia Pacific Client Casebook as the first Non-Banking Financial Institution (NBFI) from Asia Pacific. Citi’s innovative cash management solution to IDLC Finance Limited was showcased in this casebook. The book is a compilation of case studies showcasing the innovative solutions that Citi has designed and implemented, in partnership with clients in Asia, to help them achieve their working capital goals and fulfill their strategic ambitions. Commemorating the event, Managing Director and Citi Country Officer for Bangladesh Rashed Maqsood presented the casebook to Selim RF Hussain, CEO & Managing Director of IDLC Finance Limited. Citi’s Rashed Maqsood commented, “The Casebook is a testimony to the innovative and collaborative spirit of Citi’s Partnership with its clients. Inclusion of Bangladesh in the casebook also showcases Citi’s client centric approach and commitment to support the development of Bangladesh’s NBFI sector.” IDLC’s Selim RF Hussain commented, “IDLC is pleased to be part of such a prestigious list of regional clients of Citi.”"

IDLC's conducts environmental awareness session at BIS&C

"IDLC and LEADS have recently conducted an environmental awareness session at Bangladesh International School and College, Mohakhali. This was the third session in a series of similar programs to be conducted across different schools. The half-day session consisted of presentations, workshops and team-based activities with 50 students from Classes Six and Seven of school. The session focused on identifying the causes of environmental pollution and wastage of resources, while the students came up with feasible solutions to mitigate these problems through awareness creation and minor alterations in our everyday life. After the session, each of these 50 students will impart this knowledge with one of their friends, who will participate in a follow-up session to be conducted after two months. Special stickers with responsible messages and different color waste bins for source-separation of waste materials were also provided to the school authority for use in the school and create awareness among other students as well. IDLC and LEADS had earlier conducted similar session at Udayan Higher Secondary School and Viqarunnisa Noon School and College ."

IDLC signed Financial Advisory Service Agreement with The Waste to Resource Fund Ltd. (W2RF)

"Waste to Resource Fund (W2RF) has recently engaged IDLC Finance Limited (IDLC) to provide financial advisory services to design, evaluate, and monitor the investment process in their different projects which will be implemented in and outside Bangladesh. W2RF will finance solid waste management projects linked with Green House Gas (GHG) emissions reduction in Asia and Africa. The Board of W2RF includes representatives from Bill & Melinda Gates Foundation (BMGF), UNESCAP & Waste Concern. W2RF is investing approx USD 450,000 in the existing Clean Development Mechanism (CDM) based Project at Bulta, Dhaka named WWR Bio Fertilizer Bangladesh Ltd. IDLC’s involvement in these projects is aligned with the company’s sustainable business practice goals and falls under its overall CSR umbrella. Selim R F Hussain, CEO & Managing Director of IDLC Finance Limited and Abu Hasnat Md. Maqsood Sinha, Director of W2RF have recently signed a Terms of Reference on behalf of their respective companies. Iftekhar Enayetullah, Managing Partner of Waste Concern Consultants, M. Jamal Uddin, Head of Corporate of IDLC Finance Limited, Mesbah Uddin Ahmed, Head of Structured Finance of IDLC Finance Limited, and other senior officials from the concerned companies attended the Signing Ceremony."

IDLC's conducts environmental awareness session at Viqarunnisa

"IDLC and LEADS have recently conducted an environmental awareness session at Viqarunnisa Noon School and College. This was the second session in a series of similar programs to be conducted across different schools. The half-day session consisted of presentations, workshops and team-based activities with 50 students from Classes Six and Seven of school. The session focused on identifying the causes of environmental pollution and wastage of resources, while the students came up with feasible solutions to mitigate these problems through awareness creation and minor alterations in our everyday life. After the session, each of these 50 students will impart this knowledge with one of their friends, who will participate in a follow-up session to be conducted after two months. Special stickers with responsible messages and different color waste bins for source-separation of waste materials were also provided to the school authority for use in the school and create awareness among other students as well. IDLC and LEADS had earlier conducted a similar session at Udayan Higher Secondary School on October 1, 2012."

ICMAB recognizes IDLC as the Best Corporate in the Non-Banking Financial Institution Sector

"The IDLC Group was awarded the First Position as the Best Corporate in the Non-Banking Financial Institution Sector at The Institution of Cost and Management Accounts of Bangladesh (ICMAB) Awards held on 12 January 2013. IDLC was recognized for its dynamic leadership, transparency, corporate governance, sustainable business practices and profitability. IDLC Finance MD & CEO, Mr. Selim R.F. Hussain received the 2012 award from Mr. Ghulam Muhammed Quader, MP & Honorable Minister of Commerce, Govt. of the People’s Republic of Bangladesh."

IDLC extends its support to the marginal people this winter

"As part of its commitment towards the underprivileged section of our community, IDLC distributes blankets and warm clothes every year among the marginal people in North Bengal, suffering under extreme cold. This winter as well, IDLC has distributed around 5,000 blankets, along with warm clothes donated by its employees, among the extreme poor community in different areas of Bogra, Natore, Sirajganj, Gaibandha, Lalmonirhat, and the char areas of Nilphamari and Kurigram, as well as in Jessore. Mr. S.M. Ferdous Hossain, DGM, SME and Special Programmes Department, Bangladesh Bank, was present as the Special Guest in the distribution program at Nilphamari. Senior management officials from IDLC were also present in these events. Different phases of the distribution were organized in cooperation with various NGOs, including BRAC."

IDLC arranges Employee Vaccination programme

In December 2012, IDLC has successfully completed full vaccination course for its employees. IDLC started this program back in 2011, arranging vaccination for its employees and their family members against Hepatitis B and Cervical Cancer. Subject to completion of the first phase, IDLC is initiating the second phase of vaccination in January 2013 for employees who could not participate earlier.

Children's Day at IDLC

"IDLC dedicated a day full of fun and games to the children of IDLC staff. The premises were colorfully decorated. Around 15O children along with their parents spent a day with comic characters, mascots and fun rides. It was a unique experience that strengthened the bond amongst the IDLC family. To view the event pictures, please Click Here ."

IDLC & LEADS Organizes Environmental Awareness Poster & Recycling Competition for School Children

"In continuation of the environmental awareness campaign titled “Our Environment Our Resource” across different schools, IDLC and LEADS jointly organized a 3-day poster and recycle competition and exhibition on November 14, 15 & 16, 2014, at the Public Library Premises, University of Dhaka. More than 500 students from 12 leading schools of Dhaka participated in the competition – reflecting their learning from the campaign on issues such as environmental pollution and mitigation; efficient resource utilization; and adopting the 3R principle of reduce, reuse and recycle. Renowned artist and television personality Mr. Mustafa Manwar honored us by selecting the winners in the poster and recycle categories. Mr. Md. Maududur Rashid Safdar, Director (Joint Secretary), Department of Environment, and Project Director, 3R Pilot Project, was present as the Chief Guest, and Mr. Anisul Hoque, prominent writer, renowned columnist, and Deputy Editor, the Daily Prothom Alo, was present as the Special Guest on the closing and prize-giving ceremony. Mr. Selim R. F. Hussain, Managing Director and CEO, IDLC Finance Limited, and Mrs. Romina Dewan, Executive Director, LEADS, were also present in the program, along with other officials from their respective organizations. Dhanmondi Government Girls’ School and Viqarunnisa Noon School and College won the 1st prizes (Group) respectively under the Poster and Recycle category. Udayan Higher Secondary School won the “Highest Communicator Award” (Individual) for conveying awareness messages to the maximum number of people. The other winning schools were Dhaka Residential Model College (Poster-2nd Prize), Viqarunnisa Noon School and College (Poster-3rd Prize), Udayan Higher Secondary School (Recyle-2nd Prize), and Shaheed Bir Uttam Lt. Anwar Girls’ College and Dhanmondi Government Girls’ School (Recycle-3rd Prize, joint winners). Also consolation prizes were given to groups from Azampur Government Primary School and Motijheel Governtment Girls’ School. Students from different schools also shared their experience on how this campaign has made them more conscious and responsible in terms of better environmental management. With this 3-day program, the Phase 1 of the campaign has been completed. IDLC and LEADS will begin the next phase from February 2015 – in participation of new student groups from these schools, while also approaching new schools in Dhaka. To view the event pictures, please Click Here ."

IDLC Finance Limited and The City Bank Limited sign syndication fund raising agreement of USD 12.69 million for Far East Spinning Industries Limited

"Far East Spinning Industries Limited (FESIL) has recently mandated IDLC Finance Limited and The City Bank Limited as Joint Lead Arrangers for raising USD 12.69 million for setting up a compact cotton yarn spinning mill of 25,000 spindles with a production capacity of 14 MT per day at Hobiganj, Sylhet. Asif Moyeen, Chairman of Far East Spinning Industries Limited, Selim R. F. Hussain, CEO & Managing Director of IDLC Finance Limited, and Sohail R.K. Hussain, CEO & Managing Director of The City Bank Limited signed the term sheet on behalf of their respective companies. Upon signing the deal, Asif Moyeen explained the need for setting up a spinning yarn which will act as an essential step in strengthening the backward integration of the Group and contribute to reducing the country’s demand-supply gap of yarn. He also shared his plans of building the factory under Green Building concept due to its environmental consciousness."

IDLC Receives SME NBFI of the Year Award

IDLC Finance Ltd recently received SME NBFI of the Year, and Women Entrepreneurs’ Friendly NBFI of the Year Awards from Finance Minister AMA Muhith at the SME Banking Awards Programme, jointly organized by Bangladesh Bank and SME Foundation.

IDLC Opens its 29th Branch in Natore

"IDLC Finance has recently opened its 29th branch in Kanaikhali, Natore to provide a range of SME and Consumer Finance solutions to the people of that area. Md Mashiur Rahman, Deputy Commissioner, Natore, and Selim RF Hussain, CEO & Managing Director of IDLC Finance formally inaugurated the branch on November 10, 2014 amidst a host of local businessmen and senior officials of IDLC Finance. Bashudeb Banik, Superintendent of Police, Natore also attended the ceremony as special guest. “Our branch in Naotre has opened a new horizon for IDLC, and we are proud to be here” said Selim R.F. Hussain, CEO and Managing Director of IDLC Finance. The CEO also said that IDLC was committed to opening SME and Consumer focused branches all across the country and was planning to open another 30 branches in the next five years. The IDLC Group is the largest multi-product Non-Bank Financial Institution in Bangladesh with over 1,100 staff and 29 branches. IDLC Finance, the Group’s parent company, maintains equal focus in the Corporate, Consumer and SME segments. IDLC Finance also has a significant presence in the Capital Markets through its wholly-owned subsidiaries, IDLC Investments Ltd. and IDLC Securities Ltd."

IDLC Opens its 28th Branch in Bhulta

"IDLC Finance opened its 28th branch in Bhulta, Narayanganj on October, 28, 2014. This Branch will mainly provide a range of SME and Consumer financing services to residents of an area that is rapidly establishing itself as one of the entrepreneurial centers of Bangladesh. Selim RF Hussain, CEO & Managing Director of IDLC Finance, formally inaugurated the branch amidst a host of local businessmen and senior officials of IDLC Finance. “We are proud to open a branch in Bhulta and this will help us better serve an important client segment” said Selim R.F. Hussain, CEO and Managing Director of IDLC Finance. Hussain also said that IDLC was committed to opening SME and Consumer focused branches all across the country and was planning to open another 30 branches in the next five years. The IDLC Group is the largest multi-product Non-Bank Financial Institution in Bangladesh with over 1,100 staff and 28 branches. IDLC Finance, the Group’s parent company, maintains equal focus in the Corporate, Consumer and SME segments. IDLC Finance also has a significant presence in the Capital Markets through its wholly-owned subsidiaries, IDLC Investments Ltd. and IDLC Securities Ltd."

Citi and IDLC sign Direct Debit Agreement

"IDLC Finance Limited - the largest multi-product Financial Institution in Bangladesh has recently signed a Direct Debit Agreement with Citibank N.A. Bangladesh. Direct Debit will allow IDLC Finance Limited to pull funds from its customers in local currency in a timely fashion and will digitalize the entire Check Collection process. Using CitiDirect, Citibank’s award winning internet banking platform, IDLC will submit digital instructions to Citi for individual/bulk transaction request to IDLC’s Debtor’s Bank on the designated due dates to pull the Funds from the respective accounts. Selim R.F. Hussain, CEO & Managing Director of IDLC Finance Limited said, “We have a strong technology backbone and we will support and utilize the country’s EFT platform to the extent possible”. Rashed Maqsood, Managing Director & Citi Country Officer for Citibank, N.A. Bangladesh stressed on the need for transforming Bangladesh’s payment and collection landscape into an electronic platform, which will enable efficient and secured processing of transactions. Mr. Moinul Huq, Head of Treasury & Trade Solutions, Citibank, N.A. Bangladesh reiterated that Citi has been a frontrunner in the EFT arena where electronic-to-paper ratio is over 40% within 3 years of the launch of the platform by Bangladesh Bank, whereas the industry average is close to 5 % at present. Senior officials from both the companies were present during this signing ceremony."

IDLC signs agreement with Winrock Project for Homestead Tree Plantation

"IDLC, with support from the CREL Project of Winrock International (an USAID project), has sponsored a homestead tree plantation project in Chittagong Hill Tracts. A total of 3,750 saplings of fruit-bearing trees will be planted across 250 marginal households from 10 villages in the project area. Dudpukuria Co-management Organization, a voluntary co-managed organization endorsed by the forest department and under the network of CREL Project, is acting as the implementing body for this plantation program. This project not only contributes to better environmental management by reducing dependency on forest resources by these households, but also allows income generation by selling proceeds from the grown-up trees. IDLC, as part of its environmental responsibility, undertakes tree plantation programs every year. In addition to this project, another plantation program is currently underway at Trishal, Mymensingh, in partnership with Jatio Kobi Kazi Nazrul Islam University, and Toru Pallab, a voluntary organization managed by renowned environmentalists in Bangladesh."

IDLC conducts blood donation program in Bogra

"IDLC has arranged a blood donation program in its Bogra branch on Thursday, June 12, 2014, together with Bangladesh Thalassaemia Hospital. This is the second program this year arranged by IDLC in its branches. A total of 24 bags of blood was collected through the wholehearted participation of IDLC’s clients and staff in Bogra. A third program will be conducted later this year in IDLC’s Gulshan branch."

IDLC continues Environmental Awareness Campaign across Schools

"In continuation of the environmental awareness campaign across different schools, IDLC has conducted sessions in Viqarunnisa Noon School and College, Bir Uttam Saheed Lt. Anwar Girls’ School and College, Rayer Bazar High School, and Dhanmondi Government Girls’ School in May and June 2014. The sessions, jointly conducted by LEADS and IDLC and sponsored by IDLC, consist of presentations and team-based activities focusing on issues such as environmental pollution and mitigation measures; responsible resource consumption; adoption of the principles of reduce, reuse and recycle etc. The activities are designed to help them reflect upon their learning and come up with feasible and easily adaptable solutions for better environmental management."

IDLC Opened its 27th Branch in Khulna

"IDLC Finance has recently opened its 27th branch in Shibbari Moor, Khulna to provide a range of Consumer Finance and SME products to the people of the area. Md. Abdul Jalil, Divisional Commissioner, Khulna, formally inaugurated the branch on June 8, 2014. Selim RF Hussain, CEO & Managing Director of IDLC Finance, Anis Mahmud, Deputy Commissioner, Khulna, Md. Habibur Rahman, Superintendent of Police, Khulna, local businessmen and senior officials of IDLC Finance were also present. “We are proud to open a branch in Khulna and this will help us serve a new client segment” said Selim R.F. Hussain, CEO and Managing Director of IDLC Finance. The IDLC Group is the largest multi-product Non-Bank Financial Institution in Bangladesh with over 1,100 staff and 27 branches. IDLC Finance, the Group’s parent company, maintains equal focus in the Corporate, Consumer and SME segments. IDLC Finance also has a significant presence in the Capital Markets through its wholly-owned subsidiaries, IDLC Investments Ltd. and IDLC Securities Ltd."

IDLC Finance Holds Workshop on Bond Markets in South Asia

"IDLC Finance Limited, the largest multi-product Non-Banking Financial Institution in Bangladesh, recently organized a 2 day-long workshop under the title ‘Bond Markets in South Asia: Theory Vs. Market Practice, Regulatory Atmosphere, And Development Potentials’. Professionals from banks & financial institutions, merchant banks, issue managers, underwriters, Bangladesh, and corporate institutions involved with origination, issue, purchase, and trading of bond participated the work shop, which was conducted by Vinod Kothari, an internationally acclaimed financial consultant from India. Kothari is a Chartered Accountant by qualification, and also an internationally recognized Author, Trainer and Consultant on different specialized financial instruments/subjects. In addition to Kothari, Arif Khan, Commissioner of Securities & Exchange Commission and Mesbah Uddin Ahmed, DGM & Head of Structured finance, IDLC Finance Limited shared their valuable knowledge and experience with the participants regarding the regulatory, arranger and local market perspective. This workshop educated the participants about theoretical concept of Bond, understanding of origination process, legal & regulatory framework, development potentials and overall scenario of Bond market. M. Matiul Islam, Chairman of IIDFC inaugurated the workshop as the chief guest."

IDLC and Fareast generates employment for 19 marginal women from North Bengal

"IDLC has completed training of the 3rd batch under the skills development project, jointly conducted with Fareast Knitting and Dyeing Industries Limited, ILO Bangladesh, Directorate of Technical Education, Gazipur Technical School and College, and CARE Bangladesh. The 19 trainees of Batch 3 were provided with completion certificates and appointment letters at Fareast as Machine Operators through a formal ceremony on May 20, 2014. Mr. Selim R.F. Hussain, CEO and Managing Director, IDLC, and Mr. Asif Moyeen, Managing Director, Fareast, represented their respective organizations, along with other high officials from the partner organizations. The project, developing capacity of marginal women from North Bengal and subsequently employing them as machine operators in Fareast factory, has been in place since June 1, 2013. Till date, the partners have completed training and arranged employment for 47 women. These women, who had little / no income, are now earning Taka 7,000 – Taka 13,000 a month – which has significantly improved their social and economic status, allowing them to afford education for their children and contribute to family savings. The first phase of this project will provide training to a total of 12 batches. Currently, 14 trainees in Batch 4 are undergoing institutional training at Gazipur."

IDLC Investments to Act as Issue Manager for the IPO of Impress-Newtex Composite Textiles Limited

"Impress-Newtex Composite Textiles Limited (INCTL) has recently signed an agreement with IDLC Investments Limited to raise capital through Initial Public Offering (IPO). IDLC Investments Limited will act as Manager to the Issue for the IPO. INCTL is a flagship company of Impress Group, a reputed and diversified group of companies having over 30 years of experience in ready-made garments with a proven track record of identifying business opportunities in diversified sectors. The company, established in 1995, is mainly engaged in producing gray knit fabric, dyeing & finishing and export of finished fabrics to 100% export oriented knit garments industries. Meer Sajed-ul-Basher, Group Chief Financial Officer, Impress-Newtex Composite Textiles Limited and Md. Moniruzzaman, Managing Director, IDLC Investments Limited signed the contract. Reaz Ahmed Khan, Chairman and Md. Akram Khan, Managing Director of INCTL, Selim R. F. Hussain, CEO & Managing Director of IDLC Finance, Rubayet-E-Ferdous, Chief Operating Officer, IDLC Investments and other high officials of Impress and IDLC were also present on the occasion."

IDLC sponsors sporting gears to the Bangladesh Cricket Association for the Physically-challenged

"IDLC sponsored sporting gears for the Bangladesh Cricket Association for the Physically-challenged, to help them prepare for the T-20 Tournament to be held in Agra, India, in June 2014. The items were handed over to the team through a formal event at IDLC on May 5, 2014. A 23-member team of physically-challenged players will represent Bangladesh in the event. They will play five one-day matches the Indian Physically Challenged Cricket team in the 3rd week of June."

IDLC Finance Limited was awarded the First Position as the Best Corporate in the Non-Banking Financial Institution Sector.

"IDLC Finance Limited was awarded the First Position as the Best Corporate in the Non-Banking Financial Institution Sector at The Institute of Cost and Management Accounts of Bangladesh (ICMAB) Awards held on 27 April 2014. IDLC was recognized for its financial strengths, transparency, corporate governance, and sustainable business practices. H. M. Ziaul Hoque Khan, Deputy Managing Director of the Company received the award from Abul Maal Abdul Muhith, Honourable Finance Minister in Dhaka on Sunday."

IFC Supports IDLC Finance Limited to Expedite Access to Banking Services for Small Businesses in Bangladesh

"Dhaka, Bangladesh, April 26, 2014 – IFC, a member of World Bank Group, will work with IDLC Finance Limited to promote access to banking services for small businesses by supporting the scaling up of the SME financing of the institution. IFC will work with IDLC to implement internal capacity building programs for both process improvement and skill development of the frontline employees. The programs are expected to decrease the time required for loan disbursement and cost of loan sourcing, ensuring efficiency in operations and better internal coordination. The project will also assist IDLC in raising financial awareness of women entrepreneurs through workshop and training. The two and a half year long project will support IDLC to disburse 10,000 loans worth $370 million to Small and Medium Enterprises (SME’s) and provide sales, credit and client relationship training. “Being one of the market leaders in the SME financing space of Bangladesh, we are continuously striving to reach and also set global best standards in SME financing. Our 68% cumulative average growth rate in the SME portfolio over the last 4 years and the industry best NPL (Non-performing Loan) ratio is a testament of our efforts so far. We believe IFC is the right partner to help us scale up our SME financing operations even further” said Selim R.F. Hussain, Chief Executive Officer & Managing Director, IDLC Finance Limited. In Bangladesh, IFC works with financial partners to help increase access to and improve affordability of finance for small enterprises, supports product standardization, new product development, risk management, business development and automation of operating procedures while promoting environmentally friendly financing. “IFC is keen to see a robust SME sector, and this partnership will not only enhance skills of professionals specializing in small enterprises but also make the process of starting a small business easier,” said Kyle F. Kelhofer, IFC Country Manager for Bangladesh, Nepal, and Bhutan. IFC’s advisory services focus on improving business operating environment in addition to a growing investment program in Bangladesh. IFC works with the government to design and implement programs to introduce business-friendly policies, laws and regulations, while strengthening the institutions that implement them."

IDLC Investments to Act as Lead Issue Manager of SM Knitwears

"SM Knitwears Limited has recently signed an agreement with IDLC Investments Limited and Royal Green Capital Market Limited to raise capital through Initial Public Offering. IDLC Investments Limited will act as Lead Issue Manager and Royal Green Capital Market Limited will act as Co-Issue Manager in this regard. SM Knitwears Limited, a flagship company of SM Group of Companies, was incorporated in 2001. The company is a manufacturer of 100% export oriented Ready Made Garments. The company’s factory is located at Shirirchala, Bhabanipur, Gazipur. Syed A K Anwaruzzaman, Managing Director, SM Knitwears, Md. Moniruzzaman, Managing Director, IDLC Investments and Md. Shah Alam, Managing Director, Royal Green Capital Market Limited have signed the contract. Syed Mohammad, Director of SM Knitwears, Md. Ziaul Haque Khondker, Adviser of Royal Green, Selim R. F. Hussain, CEO & Managing Director of IDLC Finance, Rubayet-E-Ferdous, Chief Operating Officer, IDLC Investments and other high officials were also present on the occasion."

IDLC publishes its 3rd Sustainability Report, following the GRI Guidelines

"IDLC has published the ‘Sustainability Report 2013’ – the 3rd publication of the company highlighting its policies, initiatives and achievements in the fields of CSR and Sustainable Business. IDLC continues to remain the first and only member in the banking and financial sector of Bangladesh to publish a standalone Sustainability Report, following the Global Reporting Initiative (GRI) Guidelines – thus taking its sustainability disclosure and accountability to a whole new level. This year as well, the report conforms to the application level “B” of the GRI-G3.1 Guidelines. Going forward, IDLC will take its disclosure one step ahead by conforming to the latest GRI-G4 Guidelines, while consider availing external assurance to add credibility to its disclosures. Please Click Here to view the report."

IDLC declares 25% stock dividend and 5% cash dividend at its 29th AGM

"The 29th Annual General Meeting (AGM) of the shareholders of IDLC Finance Limited was held at the Radisson BLU Water Garden Hotel, Dhaka on Sunday, March 30, 2014. The Company has approved 25% stock dividend and 5% cash dividend for its shareholders for the year 2013. Amid intense competition among the banks and financial institutions IDLC continued to maintain its growth both in terms of business volume and profitability. IDLC earned BDT 1,518 mn operating profit and BDT 669 mn profit after tax during the year 2013. At the end of 2013, the IDLC Group?s customer loans & advances were BDT 40,941 mn, a 26% year-over-year increase, while customer deposits grew by 31% to BDT 30,187 mn. Non-performing-loans had dropped from 2.09% in 2012 to 1.63% in 2013. Anwarul Huq, Chairman, IDLC Finance Limited presided over the AGM, which was also attended by other Directors ? Syed Abu Naser Bukhtear Ahmed, Kamrul Hassan, Hossain Mehmood, Farooq Sobhan, Rezaul Karim and CEO & Managing Director Selim R. F. Hussain. A large number of shareholders were present at the meeting. The Chairman and Managing Director both welcomed the assembled shareholders and thanked them for their continued sponsorship of IDLC Finance."

Environmental Awareness Session at Rajuk Uttara School & College

"In continuation of the environmental awareness campaign across schools, IDLC conducts 2014’s second session at Rajuk Uttara School & College, Dhaka. The sessions, jointly conducted by LEADS and IDLC and sponsored by IDLC, consist of presentations and team-based activities focusing on issues such as causes of environmental pollution and wastage of resources, and simple measures in everyday lives to manage or mitigate those. Tri-color waste bins and stickers with environmental messages are also provided to create more awareness across the entire school. Bangladesh is one of the most vulnerable regions to the effects of environmental degradation and climate change, due to many factors including its geographic location, low level of awareness among the people, and lack of compliance to laws and regulations. The very first step to address these issues is mass awareness creation, and we believe that children are the best medium for such awareness creation considering their natural ability to learn fast and reflect on their learning. With this objective, IDLC and LEADS plans to conduct at least 20 such sessions this year across different schools. In 2013, similar sessions were conducted in Udayan Higher Secondary School, Viqarunnisa Noon School and College, Bangladesh International School, Agrani Girls’ High School, Dhaka Residential Model College, St. Joseph School and College, Jhigatola Governtment High School, and University Laboratory School."

IDLC Investments inks IPO deal with Bengal Poly and Paper Sack Limited

"Bengal Poly and Paper Sack Limited has recently signed an agreement with IDLC Investments Limited to raise capital through Initial Public Offering (IPO). IDLC Investments Limited will act as Manager to the Issue in this regard. Bengal Poly and Paper Sack, a concern of Bengal Group of Industries, was incorporated in 2001. The company is a manufacturer of PP woven bags and kraft paper bags for the cement, food grain and poultry feed industries. The factory is located at Gazipur and has a production capacity of 59 million bags per year. Jashim Uddin, Director, Bengal Poly & Md. Moniruzzaman, Managing Director, IDLC Investments has signed the contract. Humayun Kabir, Chairman of Bengal Poly, Hassan Shahid Sarwar FCA, CFO and Darul Awam Tuhin ACS, Company Secretary, Bengal Poly, Selim R.F. Hussain, CEO & Managing Director of IDLC Finance and Chairman of IDLC Investments, Rubayet-E-Ferdous, Chief Operating officer, IDLC Investments and other high officials of Bengal Group and IDLC were also present on the occasion."

IDLC signs MoU with CRAB

"IDLC Finance Limited has recently signed an agreement with Credit Rating Agency of Bangladesh Ltd. (CRAB). Under the deal, CRAB will provide credit rating service to the SME clients of IDLC Finance Limited. Selim R. F. Hussain, CEO & Managing Director of IDLC Finance Limited and Hamidul Huq, Managing Director of Credit Rating Agency of Bangladesh Ltd. (CRAB) has signed the contract on behalf of their respective organizations. Khalid Hossin, Vice President & Head of Business Development of CRAB, H. M. Ziaul Hoque Khan, Deputy Managing Director, IDLC Finance, Zahid Ibne Hai, General Manager & Head of SME Division, IDLC Finance, Asif Saad Bin Shams, General Manager & Head of Credit & Collection, IDLC Finance and other high officials of CRAB and IDLC were also present on the occasion."

IDLC Investments to Act as Issue Manager for the IPO of FMC Dockyard Limited

"FMC Dockyard Limited has recently signed an agreement with IDLC Investments Limited to raise capital through Initial Public Offering (IPO). IDLC Investments Limited will act as Manager to the Issue in this regard. FMC Dockyard Limited conducts business in the shipbuilding industry of Bangladesh. The factory is located at West Gomdandii, Boalkhali, Chittagong. The company is offering complete ship building, repair and refit service to local and international customers since 2009. At present the company is engaged in building of inland ships of various types and sizes, such as oil tanker, fishing trawler, container ship, barge, cruise vessel, tug boat, research vessel, survey vessel, pontoon, jetty, dredger, slipway, etc. Within a short span of time, the company has created a strong foothold in the shipbuilding industry and achieved trust of local and international customers. Pankaj Datta, Executive Director (Corporate Affairs), FMC Dockyard Limited & Md. Moniruzzaman, Managing Director, IDLC Investments Limited has signed the contract. Selim R.F. Hussain, CEO & Managing Director of IDLC Finance and Chairman of IDLC Investments, Rubayet-E-Ferdous, Chief Operating officer, IDLC Investments, K. M. Morshedul Alam, Executive Director (Admin) of FMC Group and other high officials of FMC and IDLC were also present on the occasion."

IDLC Finance Holds Seminar on “Syndication Financing in Bangladesh – Past, Present, & Beyond”

"IDLC Finance Limited arranged a seminar for lead arrangers, participating financial institutions, sponsors, regulators, and other key stakeholders relating to Syndication Financing on Wednesday, 19 February at Radisson Blu Water Garden Hotel Dhaka. The Seminar aimed to bring the relevant stakeholders in a single forum to discuss the various prospects, challenges and opportunities relating to Loan Syndication in Bangladesh and agree on individual and joint action plans to improve the delivery of syndication deals. H. M. Ziaul Hoque Khan, Deputy Managing Director of IDLC Finance Limited inaugurated the Seminar. Kazi Farhan Zahir, Senior Manager of IDLC Finance Limited made a presentation on syndication financing and Mesbah Uddin Ahmed, Head of Structured Finance of IDLC Finance Limited, moderated the roundtable discussion session. Selim R. F. Hussain, CEO & Managing Director of IDLC Finance Limited in his closing speech highlighted the contribution of syndication financing in the infrastructure development and industrialization of the country and thanked the participants for their active participation in the program. Nearly 100 participants from different banks and financial institutions attended the interactive session and utilized this opportunity to learn more about syndication lending."

Environmental Awareness Session at Azampur Govt. Primary School

"In continuation of the environmental awareness campaign across schools, IDLC conducts 2014’s first session at Azampur Government Primary School, Uttara. The sessions, jointly conducted by LEADS and IDLC and sponsored by IDLC, consist of presentations and team-based activities focusing on issues such as causes of environmental pollution and wastage of resources, and simple measures in everyday lives to manage or mitigate those. Tri-color waste bins and stickers with environmental messages are also provided to create more awareness across the entire school. Bangladesh is one of the most vulnerable regions to the effects of environmental degradation and climate change, due to many factors including its geographic location, low level of awareness among the people, and lack of compliance to laws and regulations. The very first step to address these issues is mass awareness creation, and we believe that children are the best medium for such awareness creation considering their natural ability to learn fast and reflect on their learning. With this objective, IDLC and LEADS plans to conduct at least 20 such sessions this year across different schools. In 2013, similar sessions were conducted in Udayan Higher Secondary School, Viqarunnisa Noon School and College, Bangladesh International School, Agrani Girls’ High School, Dhaka Residential Model College, St. Joseph School and College, Jhigatola Governtment High School, and University Laboratory School."

IDLC Finance and FMO Sign USD 20 Million Term Facility Agreement

"IDLC Finance Limited, the largest multi-product Financial Institution in Bangladesh, has recently signed an agreement with Dutch Development Bank, FMO for a USD 20 million 5 year term loan loan. Under this agreement, FMO will provide IDLC Finance funds to invest in SME, Consumer & Corporate client segments to meet their longer term funding requirements. In addition, FMO will also help IDLC in developing and implementing a sustainable ‘Environmental and Social Management System (ESMS)’ structure. “This is the first time in over 25 years of operating in Bangladesh that the FMO have extended term funding to a NBFI. This partnership is further recognition of how IDLC Finance has grown in the last four years and how highly the co is rated by overseas multi-lateral stakeholders. The loan will further diversify and strengthen our funding base and thereby enhance the co’s profitability” commented Selim R.F. Hussain, CEO & Managing Director of IDLC Finance Limited. “This transaction is a result of IDLC’s financial strength and a strong commitment by both management and shareholders to further improve Environmental and Social standards within the industry. FMO is honoured to support IDLC in its future growth and its ambition to Finance Happiness.”, said Roger Hennekens , Senior Investment Officer Financial Institutions – Asia of FMO. Roger Hennekens, Senior Investment Officer, Financial Institutions – Asia of FMO and Selim R.F. Hussain, CEO & Managing Director of IDLC Finance Limited signed the facility document on behalf of their respective organizations."

IDLC provides better opportunities for children with multiple disabilities

"IDLC has sponsored 15 specially challenged children from SEID Trust for one year. A cheque was handed over to SEID Trust through a formal ceremony on February 03, 2014. Mr. Ziaul Hoque Khan, Deputy Managing Director of IDLC and Ms. Dilara Satter Mitu, Managing Trustee of SEID Trust was present on behalf of their organizations. IDLC has been a regular partner of SEID Trust for the last eight years. Initially IDLC started by sponsoring 3 children and that number has now reached 15. SEID Trust is a voluntary non-government organization working for the rights and social inclusion of underprivileged children with physical and mental disabilities, including autism. At present, they are operating four centers in and around Dhaka with over 450 children, aided by both individual and institutional sponsorships."

Karnafuly Ship Builders Limited mandates IDLC Finance Limited to arrange USD 105.00 Million to establish a Dry Dock project at Chittagong

"Karnafuly Ship Builders Limited has recently mandated IDLC Finance Limited as Lead Arranger and Agent to arrange USD 105.00 million Term Loan Finance to set up a Dry Dock project at Badalpura, Anwara, Chittagong. This project is expected to cost USD 150.00 million (equivalent to BDT 12,000 million approx.). There is one Dry-Dock facility in Bangladesh currently but at 20,000 tons, it is not large enough to meet local or international demand. Karnafuly Ship Builders Limited, a reputed local ship building company in operation since 1994, is planning to set up a much larger Dry Dock which will repair ocean going large sized vessels of more than 50,000 tons. The project is expected to generate significant foreign currency earnings. the Company has already purchased 20 acres of land at the left bank of the river karnafuly at Badalpura Chittagong. Required regulatory approvals have been accorded for construction of Dry Dock and usage of the river front. Engineer M. A. Rashid, Managing Director, Karnafuly Ship Builders Limited and Selim R.F. Hussain, CEO & Managing Director of IDLC Finance Limited signed the Term Sheet on behalf of their respective organizations."

IDLC Finance Raises Tk. 39 crore Syndication Financing for Tradexcel Auto Bricks

"IDLC Finance Limited has arranged a syndication loan facility of TK. 39 crore for Tradexcel Auto Bricks Limited to set up an energy efficient ‘Tunnel Kiln’ brick project in Gazipur. The project will generate 30 million bricks per annum. The loan & security agreement was signed by Tradexcel Auto Bricks and IDLC Finance (the lead arranger) and other financial institutions on successful financial closure of the syndication at a local hotel recently. The syndication lenders comprised of Trust Bank Ltd., IDLC Finance Ltd and Uttara Finance and Investments Ltd. Traditional brick projects are the largest contributors of Green House Gas (GHG) in our country – accounting for 38% of Bangladesh’s air pollution or approx. 9.81 million ton of CO2 per year. The Bangladesh Government and Development / Multilateral Agencies strongly endorse the restructuring of the Bangladesh brick sector through the promotion of newer Energy Efficient Brick Kiln (EEKs) technologies. “IDLC Finance as part of its ‘Green Financing’ initiatives is delighted to finance and arrange required funding for Tradexcel Auto bricks,"" said Selim R. F. Hussain, CEO & Managing Director of IDLC Finance. Rezwan Rahman, Managing Director, Tradexcel Auto Bricks thanked the Financial Institutions for coming forward and financing the project, which will help to address the current demand-supply gap for quality bricks and also reduce existing GHG emissions in the country."

IDLC wins First position under "Financial Services Sector" in the 15th ICAB National Award for "Best Presented Annual Reports 2014"

"It`s again a proud moment for us, as IDLC has secured ""First position"" under ""Financial Services Sector"" in the 15th ICAB National Award for ""Best Presented Annual Reports 2014"", organized by the Institute of Chartered Accountants of Bangladesh (ICAB). The awardees are evaluated on the basis of the evaluation criteria set by South Asian Federation of Accountants (SAFA) Committee for Improvement in Transparency, Accountability & Governance. The program was attended by huge number of professionals from corporate segments, dignitaries from Government and regulators and also got huge media coverage. These awards not only recognizes IDLC for its transparency, corporate governance, integrity and accountability, but also helps us in strengthening the brand in this highly competitive Mr. H. M. Ziaul Hoque Khan, CEO & Managing Director (Current Charge) received the awards on behalf of IDLC from the Chief Guest of the program, Mr. Abul Maal Abdul Muhith, MP, Hon`ble Minister, Ministry of Finance, Government of Bangladesh and from the Special Guest of the program, Mr. Tofail Ahmed, MP, Hon?ble Minister, Ministry of Commerce, Government of Bangladesh at the Bangabandhu International Conference Centre (BICC), Dhaka."

Blood Donation Program at IDLC Sylhet Branch

"IDLC as part of its Corporate Social Responsibility and commitment to contribute towards greater environmental and social sustainability organized a Blood Donation Program on Saturday 21 November 2015 at its Sylhet Branch, with the assistance from IDLC Consumer Division. IDLC regularly arranges blood donation program across its branches in partnership with the Bangladesh Thalassaemia Samity & Hospital, whereby both IDLC staff and external stakeholders donate blood for the treatment of Thalassaemia patients. Thalassemia is a blood disorder which is passed from parents to children through genes. It causes the body to make fewer healthy red blood cells and less haemoglobin than normal. According to Bangladesh Thalassemia Foundation, there are more than 10 million carriers in the country. The Chief Guest at the occasion Dr. Md. Murshed Ahmed Chowdhury, Principal M.A.G. Osmani Medical College and Dean, Faculty of Medicine, Shahjalal University of Science and Technology stated that Thalassemia can be prevented by raising awareness. He sincerely appreciated IDLC`s efforts in both raising awareness and donating blood for such a cause and hoped other corporate houses would come forward with more initiatives. On behalf of IDLC Finance Limited, Mr. Nasar Hassan Khan, GM & Head of Consumer Division; Mr. Ifham Siddiqui, AGM Consumer Division; Mr. Enam Ahmed Chowdhury, Head of Sylhet Branch and other officials from both IDLC Dhaka and Sylhet office were present. Also to facilitate the blood collection and registration, a six-member team from Bangladesh Thalasaemia Samity & Hospital was present at the program. Total 103 blood bags were collected and subsequently donated to the Bangladesh Thalasaemia Hospital."

Environment Awareness Campaign - Competition & Award Ceremony

"IDLC Finance Limited in collaboration with partner LEADS (Livelihood, Education and Development Services) a social organization, organized a poster, slogan and recycle competition on 30th & 31st October, 2015 at Bangladesh Shilpakala Academy. More than 350 students from schools of Dhaka City participated in the competition under four categories Poster, Slogan, Recycle and Highest Communicator. The competition arranged for the students to understand their learning and understanding from the campaign which has done for the 2nd time this year, on issues such as environmental pollution and mitigation and efficient resource utilization by adopting 3R principal of reduce, reuse and recycle. The competition entries were judged by veteran artist Professor Mustafa Manwar, renowned artist and academician Dr. Muhammad Enamul Haque, and Mehbuboor Rahman, Manager Green Banking Desk of IDLC Finance Limited. The exhibition was inaugurated by Mr. M. Jamal Uddin GM & Head of Corporate of IDLC Finance Limited on 30 October 2015. On 31st October, a prize giving and cultural ceremony was held, where Dr. Md. Anwar Hossain Howlader, Director (Joint Secretary), Department of Environment was present as Chief Guest. Mr. M. Ataur Rahman Chowdhury, DGM & Head of Operations of IDLC Finance Limited distributed was present during the award ceremony. Also present at the occasion was Ms. Romina Dewan, Executive Director of LEADS along with other officials from IDLC Finance Limited and LEADS."

Term Loan Facility Signing Agreement with SABINCO

IDLC Finance Limited (IDLC) recently signed a Term Loan Facility Agreement with Saudi-Bangladesh Industrial & Agricultural Investment Company Limited (SABINCO) for BDT 400.0 million to facilitate the growth of SME sector in Bangladesh. Selim R. F. Hussain, CEO & Managing Director of IDLC & Quazi Shairul Hassan, Managing Director of SABINCO signed the Agreement for their respective organization. H M Ziaul Hoque Khan, Deputy Managing Director, H S Tareq Ahmed, Head of Treasury of IDLC, Ahmed Ehsanul Karim, Deputy Managing Director of SABINCO and other officials of both organizations were present at the signing ceremony.

World Mental Health Day 2015 Observed

"IDLC Finance Limited as part of its CSR initiative, sponsored an event organized by Innovation for Wellbeing Foundation (IWM) to commemorate the World Mental Health Day 2015. A mass gathering to celebrate the World Mental Health Day which was organized by IWM on October 09 from 4 PM to 6 PM at Dhanmondi Robindro Shorobor, Dhaka. The theme for this year?s Mental Health Day was ?Dignity in Mental Health?. Significant positive response was received from a wide section of the community to express solidarity with the movement for Mental Health. Dignitaries, academicians, celebrity, artists, students and activists were present at the occasion to express solidarity. Mr. Ziaul Hoque Khan, DMD of IDLC Finance Limited and other officials were present to reinstate IDLC?s commitment towards raising awareness of what can be done to ensure that people with mental health problems can live with dignity. Among others, Vice Chancellor of Dhaka University Prof Dr. AAMS Arefin Siddique, Chairman, Department of Educational and Counseling Psychology, DU, Prof Shaheen Islam and Vice Chairman of Rangs Group Mr Amanullah Chowdhury, Director Finance of Bangla Vision and Md. Ashraf Uddin Ahmed, FCA were present. Also, Cricketer Habibul Bashar and Taskin Ahmed and Singers Haidar Ali and Krishnokoli and her Band attended the occasion."

Mr. Rubel Aziz - new Chairman of IDLC Finance Limited

"Mr. Rubel Aziz has been appointed as the new Chairman of IDLC Finance Limited at a meeting of the Board of Directors of the Company held on September 22, 2015. He has been a key contributor to IDLC Finance Limited in the role of Director from May 17, 2005. He was also the immediate past Chairman of the Executive Committee of IDLC Finance Limited. An Industrial entrepreneur, Mr. Rubel Aziz has set up and successfully executed several industrial undertakings. He is presently the Chairman of The City Bank Limited, Vice Chairman of Bangladesh Association of Banks (BAB) and Managing Director of Partex Beverage Limited a franchise of Royal Crown Cola International (RC Cola), Partex Plastics Limited, Partex Jute Mills Ltd., Partex Properties Ltd., Partex Aviation Ltd. and Partex Fisheries Ltd. Mr. Rubel Aziz started his undergraduate studies in USA and completed it in the UK. He returned to Bangladesh and joined the family business. In addition he is also the Director of a number of companies of Partex Group and Vice President of the Board of Trustees of IBAIS University. Mr. Rubel Aziz is also the former Chairman of Janata Insurance Co. Limited. He is presently Advisor to Banani Club and Banani Society and President of Dhaka Boat Club. He was also elected and served as President of Gulshan Club Limited for two terms."

Mr. Md. Shahidul Ahsan- new Executive Committee Chairman of IDLC Finance Limited

"Mr. Md. Shahidul Ahsan has been elected the Chairman of the Executive Committee of IDLC Finance Limited at a meeting of the Board of Directors held on September 22, 2015. Currently, Mr. Shahidul Ahsan is serving as the Chairman of Ahsan Group, AG Limited, AG Property Developments Limited, AG Agro Industries Limited, Regent Holdings Development Limited, AG High-Tech Limited, AG Ceramics Limited, RNS Corporation, Friends Traders, Corporation AG Pte. Limited, and Swadesh Builders Ltd. He is also the sponsor Director and an honorable member of the Executive Committee of Mercantile Bank Limited. Concurrently, he is also the sponsor shareholder of Swadesh Life Insurance Co. Ltd. His contribution to the Trustee Board of AG Foundation in the position of Chairman is also noteworthy."

IDLC in collaboration with BASIS launches a comprehensive solution for ICT Entrepreneurs

"IDLC Finance Limited, Bangladesh's largest non-banking financial institution and BASIS, the national trade body for Software & IT Enabled Service Industry of Bangladesh have jointly launched a unique service called IDLC Udhbhabon - a comprehensive financial and non-financial solution for ICT Entrepreneurs. Zunaid Ahmed Palak, State Minister, ICT Division, Nazneen Sultana, Deputy Governor, Bangladesh Bank, Shamim Ahsan, President, BASIS and Selim R. F. Hussain, CEO & Managing Director, IDLC Finance Limited, BASIS Members and other members of IDLC Finance Limited attended the launch ceremony. ?IDLC Udhbhabon will not only provide traditional financing facility for ICT entrepreneurs, but also deliver non-financial services which will help them grow and scale up their businesses. We believe that Udhbhabon will make significant contribution to the development of the ICT sectors in Bangladesh."

Pilot environment awareness initiative at Chittagong

"""Sustainable Business"" is at the core of IDLC`s strategies and operations, with particular focus on responsible environmental practices. IDLC is engaged in several internal and external initiatives coordinated by the CSR and Green Banking teams. The environment awareness initiative is one such initiative facilitated by the IDLC CSR department. The broad objective of this initiative to create awareness among children outside Dhaka city on topics related to the environment, its conservation and preservation. In line with this objective five sessions were conducted at Chittagong at four schools; St. Placid?s, Goshaildanga Ramkrishna Mission High School, Chittagong Collegiate School and Khaja Ajmeri High School from 8 to 11 August whereby total 435 students actively participated. IDLC associated with Karnafuly Leo Club of Chittagong Division and Youths Voice Foundation, a local volunteering club to ensure the effective execution of the campaign. Both organizations supported the event by providing volunteers and logistic facilities. Mr. Mohammed Kamal Hossain, Professor of Natural Resource Management, University of Chittagong was the lead facilitator of the session. Apart from the usual communication tools, animated audio-visual clippings followed by rapid round of quiz session was held to explain the facts to the children and ensure they absorbed the information properly. Students who gave correct answers were rewarded with toys and stationeries, in appreciation of their attention to details. IDLC CSR team specially thanks Ms. Ruhi M. Morshed, Head of CSR, and BSRM, senior officials of LIONS Club and Bank Asia who were present during different sessions, as their presence not only encouraged the students but also inspired the IDLC CSR team to plan more sessions including follow-ups in the future."

IDLC extends assistance to the National Institute of Burn and Plastic Surgery (NIBPS) of Dhaka Medical College Hospital (DMCH)

"IDLC as part of its Corporate Social Responsibility and commitment to contribute towards greater environmental and social sustainability, recently extended assistance to NIBPS by purchasing a blood culture machine and relevant accessories at DMCH. The burn unit of DMCH is currently the largest facility in Bangladesh to treat burn victims and provides treatment to 400-500 patients at a time on a given day. A major reason of casualty among burn victims is infection and to prevent this the burn patient?s blood needs to be examined on a regular basis. Due to absence of such facility in Dhaka Medical College Hospital, the blood samples are sent to other hospitals, which is both costly and time consuming. With in-house facility, the Burn Unit can provide faster and much better service to the burn patients and reduce casualties. Upon consultation with the Department of Microbiology and National Institute of Burn and Plastic Surgery (NIBPS) of DMCH, IDLC purchased an automated blood culture equipment and relevant accessories for DMCH Burn Unit. The equipment will be installed and operational at the DMCH by 1st week of July 2015. On 23 June 2015, a small event was held at IDLC Corporate Head Office to handover the work order for procurement of the machine to the Head of Department of Burn and Plastic Surgery and Project Director of National Institute of Burn and Plastic Surgery, DMCH Prof. Md. Abul Kalam. Selim R. F. Hussain, CEO and Managing Director of IDLC Finance limited along with the Management Committee were present at the handover ceremony."

IDLC Launches Comprehensive Women Entrepreneurs' Loan, Purnota

"IDLC Finance today unveiled a unique financial solution for women entrepreneurs in Bangladesh. The product, named ""IDLC Purnota"", is structured to meet both financial and non-financial needs of women entrepreneurs across Bangladesh. IDLC Purnota offers special interest rates on loan and deposit products, an opportunity to network with fellow entrepreneurs, health insurance coverage, different training opportunities, E-commerce platform, dedicated help-line, legal documentation support, and special discount cards for great shopping experience. Purnota is IDLC`s vision to develop and grow women entrepreneurship that helps create more equitable society and resource distribution. Dr. Atiur Rahman, honorable Governor of Bangladesh Bank, M. Abul Quasem, Deputy Governor of Bangladesh Bank, Anwarul Huq, Chairman, IDLC Finance Limited, and Selim R.F. Hussain, CEO & MD, IDLC Finance Limited were present at the launching ceremony. ""IDLC Purnota not only meets traditional financial needs of women entrepreneurs, but also provides the various other non-financial support that women need to start or grow a business. We have seen these kind of services offered in other developing countries and, with the assistance of the IFC, have surveyed our own Bangladeshi women entrepreneurs and found that there is a strong need for such non-financial support""- Selim R.F. Hussain, CEO & Managing Director, IDLC Finance, shared his thought on the launching occasion. The IDLC Group is the largest multi-product Non-Bank Financial Institution in Bangladesh with over 1,300 staff and 31 branches. IDLC Finance, the Group`s parent company, maintains equal focus in the Corporate, Consumer and SME segments. IDLC Finance also has a significant presence in the Capital Markets through its wholly-owned subsidiaries, IDLC Investments Ltd. and IDLC Securities Ltd."

IDLC creates opportunities for the underprivileged women of North Bengal

"IDLC in collaboration with Far East Knitting and Dyeing Industries Limited, ILO Bangladesh, Directorate of Technical Education, Gazipur Technical School and College (GTSC), and CARE Bangladesh has been implementing a skills development project for marginalized women from North Bengal since 2013. As part of the ongoing project activity, GTSC students of batch 5 and 6 completed their training and were assessed and awarded certificates on June 01, 2013. A total number of 21 trainees were awarded certificates and appointment letters at Far East as Machine Operators. Mr. Ziaul Hoque Khan, Deputy Managing Director, IDLC, and Mr. Asif Moyeen, Managing Director, Far East, represented their respective organizations, along with other high officials from the partner organizations. Till date, the partners have completed training and arranged employment for 112 women. These women, who had little or no income, are now earning Taka 7,000 to Taka 13,000 a month which has significantly improved their social and economic status, allowing them to afford better education for their children and contribute to family savings. The first phase of this project will provide training to a total of 12 batches. Currently, 14 trainees in Batch 7 are undergoing institutional training at Gazipur."

IDLC Stands by Storm Affected Victims of Bogra

"IDLC as a part of its CSR activities, coordinated a housing rehabilitation initiative for the storm affected people in Bogra. A destructive cyclone struck Bogra and adjacent areas in late April 2015. Many families became homeless among which 13 families suffered the worst fate as their houses were absolutely demolished. IDLC stood by theses 13 families by rebuilding their houses and giving emergency relief fund to one of the residents, who happened to be a pregnant female. The entire team of IDLC Bogra team was actively engaged in the entire process."

IDLC Signs MoU for enhancing Infant Care Skills of Female Garment Factory Workers

"IDLC Finance Limited recently signed a MoU with BGMEA, BSRM Group of Companies and TAHN (Training and Assistance for Health and Nutrition) Foundation at BGMEA to initiate a project titled Enhancing Infant Care and Breastfeeding Skills of Female Garment Factory Workers in Chittagong. The project aims to enhance infant care and breastfeeding skills of female garment factory workers by developing community-based peer counselors and support systems. IDLC Finance Limited and BSRM Group of Companies will be partial sponsors of the project. The ceremony was chaired by Mr. Atiqul Islam, President of Bangladesh Garment Manufacturers and Exporters Association (BGMEA). Also present at the event were Reaz Bin Mahmood, Vice President BGMEA (Finance), Mr. Ali Hossain Akbar Ali, Chairman and Ms. Ruhi Murshid Ahmed, Head of CSR from BSRM Group of Companies, Mr. Selim R. F. Hussain, IDLC Finance Limited and Dr. Rukhsana Haider, Chairman TAHN Foundation. As per the MoU, TAHN Foundation will provide training and development to community peer counselors and supervisors who will be engaged in creating awareness and educating female RMG workers and influential members of their families. Each counselor is expected to spread awareness among 50 households."

IDLC Finance Launches "SME Advantage Card for SME Customers"

"IDLC Finance Ltd, the largest non-bank financial institution in Bangladesh, recently launched its SME Advantage Card, a loyalty program that provides privileges at select life-style outlets for SME entrepreneurs. The partner brands are all IDLC clients looking to collaborate with other SME entrepreneurs. The SME Advantage Card will be made available to all SME customers of IDLC Finance. Abul Quasem, Deputy Governor, Bangladesh Bank launched the SME Advantage Card. ""IDLC is committed to providing a wide range of Non-Financial Services for its valued clients. The ""SME Advantage Card"" for SME entrepreneurs is the first such initiative in Bangladesh and is the first of the many Non-Financial services that IDLC has pledged to introduce."" said Selim R.F. Hussain, Chief Executive Officer and Managing Director of IDLC Finance Limited. Abul Quasem, Deputy Governor, Bangladesh Bank, said ""This kind of initiative would help the SME entrepreneurs of Bangladesh to connect with each other and create a platform to expand their businesses."" Swapan Kumar Roy, General Manager, SME & Special Programs Department of Bangladesh Bank, H.M. Ziaul Hoque Khan, Deputy Managing Director & CFO and Zahid Ibne Hai, General Manager and Head of SME of IDLC Finance and other senior officials from IDLC Finance Ltd, partner vendors and many SME entrepreneurs also attended the launching ceremony."

IDLC declares 25% stock dividend and 10% cash dividend at its 30th AGM

"The 30th Annual General Meeting (AGM) of the shareholders of IDLC Finance Limited was held on Monday, March 30, 2015 at the Radisson Blu Water Garden Hotel, Dhaka. In line with the proposal by the Board of Directors, the AGM approved 25% Stock Dividend (1 Bonus share for every 4 Ordinary shares held) & 10% Cash Dividend (Taka 1.00 per share) for the company?s shareholders for the year 2014. The AGM also approved the proposal of issuing One Right share for every 2 Ordinary shares held (1R:2) at an issue price of Taka 20 each (including a premium of Taka 10 per share) subject to the approval from regulatory authorities. It was also mentioned in the AGM that during 2014, IDLC reinforced its presence as a sector leader in the country and strengthened its positioning as a customer-centric non-banking financial institution. Despite several challenges on the political and economic front that led to sluggish industrial growth, IDLC reported a respectable performance during the year. At the end of 2014, the IDLC Group?s total loans & advances stood at Taka 47,069 million, an increase of 15% over last year, while deposits grew by 21% to Tk 36,595 million. Simultaneously, net profit after tax rose by 86% to Taka 1,246 million. Anwarul Huq, Chairman, IDLC Finance Limited presided over the AGM, which was also attended by other Directors ?Farooq Sobhan, Hossain Mehmood, Faruq M. Ahmed, Md. Kamrul Hassan, FCA, Md. Rezaul Karim, Syed Abu Naser Bukhtear Ahmed, Monower Uddin Ahmed and the CEO & Managing Director, Selim R. F. Hussain. A large number of shareholders were present at the meeting. The Chairman and Managing Director both welcomed the assembled shareholders and thanked them for their continued sponsorship of IDLC. The Chairman said that IDLC has delivered a robust financial performance and made good strategic progress in 2014. He also opined that the company?s strong Balance Sheet and the market positions of its businesses are poised to deliver sustainable profit growth and shareholder returns over time. Shareholders, too, voiced their appreciation at the significant step up in the Group's operations."

Naz Auto Bricks Mandates IDLC Finance for Arranging BDT 400 Million Syndicated Loan

"Naz Auto Bricks Limited has mandated IDLC Finance Limited to raise a syndication fund of BDT 400 Million to establish an energy efficient tunnel kiln brick project in Rangpur. The project will be able to produce 3 crore bricks per year equivalent to six fixed chimney kiln. State-of-the art tunnel kiln technology ensures energy efficient process and almost zero emission of hazardous gases. Government of Bangladesh as well as different foreign agency such as World Bank, ADB are encouraging establishment of modern brick kiln technology and closure of traditional labor intensive and contaminated technology. Soft credit line is also available from Bangladesh Bank as refinancing facility to implement such project. Dr. Mizanur Rahman, Managing Director of Naz Auto Bricks Limited and Selim R.F. Hussain, CEO & Managing Director of IDLC Finance Limited formalized the signing in an agreement signing ceremony. Senior officials of both the organizations were also present during the signing ceremony."

IDLC Investments Acts as an Issue Manager for Tosrifa Industries Limited's Initial Public Offering (IPO)

"Bangladesh Securities and Exchange Commission (BSEC) has approved the Initial Public Offer (IPO) of Tosrifa Industries Limited in its 538th Commission Meeting held on February 10, 2015. The company will raise BDT 638,721,200 through issuance of 24,566,200 ordinary shares at an issue price of BDT 26 each including a premium of BDT 16 per share from the capital market of Bangladesh. IDLC Investments Limited is acting as manager to the issue of the IPO of Tosrifa Industries Limited. Tosrifa Industries Limited is a 100% export oriented readymade knit garments manufacturing company. The company was incorporated on August 27, 2002. The company has knitting and sewing capacity through which it manufactures fabric from yarn and then produces readymade apparel. Its major products are ladies? and gents? knitwear i.e. polo shirt, T-shirt, tank top etc. During 2013 and 2012 the company exported merchandize worth BDT 941.67 million and BDT 799.46 million respectively and made net profit worth BDT 85.89 million and BDT 80.43 million respectively. EPS of the company is BDT 2.49 for the year ended December 31, 2013 and Net Asset Value per share is BDT 34.41. Tosrifa Industries Limited plans to setup a dyeing unit with the IPO Proceeds. The state of the art dyeing unit will have a capacity of 15MT per day. Total project cost is around BDT 1,400 million and out of this around BDT 610 million will be financed from IPO proceeds."

IDLC Receives First Position for Integrated Reporting and Best Presented Annual Report 2015

"IDLC Finance Limited was awarded the first position under the Integrated Reporting category by The Institute of Chartered Accountants of Bangladesh (ICAB) in the 16Th ICAB National Award Giving Ceremony held on 29th December 2016. IDLC also won the Best Presented Annual Report 2015 in the Financial Service Sector and the second position under the category of SAARC Anniversary Award for Corporate Governance Disclosure. Arif Khan, CEO & Managing Director of IDLC, received the awards from Tofail Ahmed , Commerce Minister, Government of the People's Republic of Bangladesh. On this occasion, Khan said, ""It is an honor and a privilege to receive this award on behalf of every one of the IDLC family including the Board of Directors, shareholders, employees, customers, stakeholders and well-wishers. We are especially happy to secure the first position in Integrated Reporting, which is an evolution of corporate reporting aimed at explaining how a company's strategy, governance, performance and prospects lead to the creation of value."" Khan also underlined IDLC's commitment towards maintaining the highest level of transparency, corporate governance, integrity and accountability; mentioning ""We are humbled to have been recognized for our efforts and remain committed, as an organization, to stand out for trust and transparency. IDLC always value the paramount importance of proper corporate governance to ensure fairness, transparency and accountability. IDLC is committed to continually review all its corporate governance policies and guidelines to ensure transparency in its practices and the delivery of the highest ethical standards and quality information to its stakeholders on an ongoing basis."""

Q3 2016 Earnings Disclosure

"9 months (January - September 2016) Performance highlights of IDLC Finance Limited: - Operating Income of BDT 3,778mn, 11% Year on Year growth - 10% (BDT 5,418 mn) growth in Customer Assets - Net Profit After Tax of BDT 1,343mn, 17% Year on Year growth IDLC Finance Limited reported Net Profit after Tax of BDT 1,343mn in the first 9 months of 2016, recording a strong 17% growth from the same period last year. Operating Profit for the period increased 7% year on year and stood at BDT 2,332mn. In these 9 months IDLC acquired 6,277 new customers and grew the Customer Assets portfolio by 10% (BDT 5,418mn), compared to 31st December 2015. This growth in customer assets was driven primarily by the SME Loan Book, which experienced a healthy 17% growth in this period. SME loans now comprise 45% of the total loan book of IDLC, increasing from 42% at the beginning of the year. The other business segments of the company - Corporate and Consumer Finance - and two major subsidiaries - IDLC Investments Limited and IDLC Securities Limited - also delivered strong performance. ""All our business divisions - SME, Consumer, Corporate, Deposits, Capital market Operations & Money Market operations - delivered a very strong performance throughout the year so far and combined we have delivered a record 9 months profit in 2016"" said Arif Khan, CEO & Managing Director of IDLC Finance Limited. He added "" The focus remains firmly on continuing the good performance for the rest of the year and also improving our portfolio quality which experienced a minor dent in the last quarter with a slightly increased NPL ratio of 3.22% compared to 3.06% at the end of December 2015. "" IDLC also made considerable investments in infrastructure, people, processes and workplace throughout the year 2016. Major initiatives included inauguration of 4 new branches, relocation of two of major operations (in Gulshan and Dilkusha) to bigger and better premises, investments in technology to introduce an online Credit Appraisal System, Introduction of SME Credit Scoring with support from International Finance Corporation (IFC) and venturing into Digital Marketing space. Khan said, "" We, at IDLC, believe there is always room for improvement and we are relentless in our efforts to be better today than yesterday. Surviving and thriving in this competitive market will depend on how we prepare ourselves for tomorrow. The challenge now is to scale up and reach newer heights and we are making investments in people, infrastructure and technology to face this challenge"""

IDLC Finance Limited inaugurates its 34th branch in Mymensingh

"IDLC has recently opened its 34th branch in Mymensingh to provide a range of Small and Medium Enterprises (SME) and Consumer finance to the people of the area. Mustakim Billah Faruqui, Deputy Commissioner, Mymensingh, formally inaugurated the branch on August 24, 2016. Arif Khan, CEO & Managing Director, IDLC Finance Limited, local businessmen and senior officials of IDLC were also present. ""We are proud to open our 34th branch in Mymensingh. This is the result of our effort to sprawl our services all over the country. With this new addition, we will be more close to our customers in Mymensingh to offer our diverse array of financial and non-financial services."" said Arif Khan, , CEO & Managing Director, IDLC Finance Limited. The IDLC Group is the largest multi-product Non-Bank Financial Institution in Bangladesh with more than Tk. 7,700 Crore in assets & 2015 yearend net profit of Tk. 145 Crore. IDLC employees 1,400 staff across its 34 branches. IDLC Finance, the Group?s parent company, maintains equal focus in the SME, Consumer and Corporate segments. IDLC Finance also has a significant presence in the Capital Markets through its wholly-owned subsidiaries, IDLC Investments Ltd. and IDLC Securities Ltd."

IDLC launches "Easy Invest", a monthly investment scheme

"IDLC Investments limited, the wholly owned subsidiary of IDLC, the largest NBFI of the country, has launched ""Easy Invest"", a Monthly Investment Plan for retail investors. It is a discretionary portfolio management product, where IDLC Investments will work as fund manager. The fund will be invested in selected blue chip stocks with the aim of minimizing market risk and generating reasonable return. Today in a hotel of Dhaka, the scheme was inaugurated by Dr. Mirza Azizul Islam, former advisor, Govt of Bangladesh -- who was greeted as the chief guest of the occasion. CEO and Managing Director of IDLC Finance Limited Mr. Arif Khan spoke on the occasion. He mentioned that for over thirty years, IDLC has always been in pursuit of innovating new products to change the lives of the people of our society with its little capacity. The newly launched product is designed to attract small savers and bring back people to the market who lost all their hopes since the market crashed. Be emphasized that this new form of portfolio management will help the investors having a little or no knowledge about the stock market or those who do know have much time to follow the market. This is completely a new concept in our country, even though it is highly popular in India -- commonly known as SIP (systematic investment plan). Mr. Md. Moniruzzaman, Managing Director of IDLC Investments defined in brief the features of the scheme where he added investing in blue chip shares pays significantly higher return than investing in FDRs in the long term. Currently, the inflation rate and FDR rate is almost the same. Thus, the clients can hardly generate any `real return` from FDRs. He said after the 2010-11 stock market crash, some blue chip shares witnessed a growth of around 400 per cent. Thus, this product is particularly suitable in this low interest rate regime. He also added that this scheme could be a good choice for the regular income class who have a very limited option to invest their hard earn money. Long term and mid-term financial goals like child education, marriage expenses, travel expenses, property purchase etc. can be met by this scheme. Backed by research support, IDLC`s professional and experienced portfolio managers will look after the fund following disciplined and systematic portfolio management approach. As the portfolio will be formed over a period, it will enjoy the benefits of cost averaging and will be devoid of emotional bias. Operationally, no physical cheques will be handled. Fund pulling will be done electronically. He showed his vision that one day, this product will bring hundreds of thousands of small savers into capital market following the history of other markets. A number of print, online and electronic media journalists, financial professionals from different organizations and senior officials of the company were present in the occasion."

Q2 2016 Earnings Disclosure

"Performance highlights in the first half of 2016 for IDLC Finance Limited: - Operating Income of BDT 2,532mn, 18% Year on Year growth - 10% (BDT 5,336mn) growth in Customer Assets - Net Profit After Tax of BDT 882mn, 8% Year on Year growth - Inauguration of 4 new branches in Kushtia, Habiganj, Mymensing & Rangpur - IDLC Asset Management Limited, 3rd subsidiary of the company started operations IDLC Finance Limited reported Net Profit after Tax of BDT 882mn in the first half of 2016, recording a solid 8% growth from the same period last year. Operating Profit for the half increased 14% year on year and stood at BDT 1,583mn for the half. In the first half of 2016 IDLC acquired 3,726 new customers and grew the Customer Assets portfolio by 10% (BDT 5,336mn), compared to 31st December 2015. The company continue to be a strong operator in the SME segment and experienced a growth of 19% in the SME Loan Book at the same period. Corporate and Consumer Loan Books, two other major business segments of the company, also experienced notable growth. ""Despite facing challenging circumstances, IDLC Finance Limited has been able to continue on the growth path in 2016, a testament to the effort put forth by the team and the astute guidance received from the Board of Directors"", said Mr. Arif Khan, CEO & Managing Director of IDLC Finance Limited. He also said ""While the SME segment posted the highest amount of growth in the loan book, all our business segments enjoyed a good half year. We continue to be very vigilant about the quality of our portfolio and have been able to moderately decrease the NPL ratio to 3.01% at the end of June 2016 compared to 3.06% at the end of December 2015."" IDLC also inaugurated 4 new branches in the half year, while relocating two of its major operations (in Gulshan and Dilkusha) to bigger and better premises, informed Mr. Khan. He added ""While these relocations and expansions come at a cost and put a squeeze on the short term profitability, we consider these as investments required to sustain our growth going forward. We remain optimistic about the macro economic outlook of the economy and want to make sure we are well positioned to take full advantage of the economic prosperity, especially in the Small and Medium segment."" IDLC also added a new capital market subsidiary, IDLC Asset Management Limited (AML), in the half. This is expected to further strengthen the capital market operations of the company which was earlier operating with two subsidiaries, IDLC Investments Limited & IDLC Securities Limited. IDLC AML will carry out the business of asset management, primarily through launching and managing mutual funds to cater to the diverse needs of investors. Besides institutional fund management, IDLC AML also aims to facilitate alternative investments in terms of private equity and venture capitals, in the future."

IDLC Finance Limited inaugurates its newest branch in Rangpur

"IDLC Finance Limited inaugurated its newest branch on Rangpur on 31st May 2016. Divisional Commissioner Kazi Hasan Ahmed formally inaugurated the branch. Mr. Arif Khan, CEO & Managing Director, IDLC Finance Limited, District Commissioner Rahat Anwar , SP Abdur Razzak and local businessmen and high officials of IDLC were present in the inauguration ceremony. Mr. Arif Khan said, ""We are proud of opening this branch in Rangpur which is the result of our endeavor to reach out to more people. With the opening of this branch, we can now easily provide our services to the business customers of this area."" The new branch is located at central Road, paira chattar."

IDLC partners with SEID for promoting income generating activities of adolescents with autism, intellectual and multiple disabilities through livelihood training

"IDLC extended its long-standing partnership with Society for Education and Inclusion of the Disabled (SEID) and facilitating the organization for conducting further vocational skills development of the adolescents with disabilities. This extension of partnership was materialized through signing of a MoU by both organizations on 25 May 2016. The aim is to facilitate SEID to equip these adolescents with the relevant skills and understanding which would enable to engage in income generating activities and eventually rehabilitate them into mainstream society. After receiving the training for one year in 2015, among the 30 beneficiaries, 10 have reached a level whereby they can be enrolled in vocational training institutions and remaining 20 are ready to receive the in-house advance training at SEID. Therefore, as per the MoU, SEID will provide extended vocational training opportunities for selected adolescent and youth with disabilities, advanced vocational training and also establish linkage with outsourcing agents, buyers and job providers to place the graduates from this training and for exhibiting their hand-made products. It is expected that upon completion of this project, 10 adolescents with autism, intellectual or multiple disabilities will be involved in income generating activities, 50% of the adolescents with disabilities will be incorporated in extended vocational trainings and 80% family will be more supportive towards self-independency regarding their adolescent with disabilities. The signing was chaired by Mr. Arif Khan, CEO & Managing Director, IDLC Finance Limited and Mr. Ranjan Karmakar, Chairperson, SEID. Senior officials from both the organizations were also present at the signing."

IDLC Finance Limited & Euromoney Learning Solutions jointly organized workshop on "MASTERING PROJECT FINANCE" at Le Meridien, Dhaka on May 21-22, 2016

"In order to share the best practices of Project Finance from around the world with local business leaders and banking fraternity, IDLC Finance Limited & Euromoney Learning Solutions jointly organized a workshop on ""MASTERING PROJECT FINANCE"" at Le Meridien, Dhaka on 21-22 May, 2016. Bangladesh is embracing a new era of progress and development and also embracing implementation of diverse large infrastructure projects which are wide-ranging in complexities. Thus, understanding of these complications are very essential for the officials of Financial Institutions and Corporate Houses. Considering the significance of project finance as a financing solution, this two day workshop on ""MASTERING PROJECT FINANCE"" has been organized in order to provide participants a clear understanding on project finance on a comprehensive spectrum. Mr. Arif Khan, CEO and Managing Director of IDLC Finance Limited inaugurated the workshop. IDLC hosted numerous workshops/seminars in recent years with the purpose of enhancing the capabilities of professionals in the financial market covering various topics in nature. This time, IDLC, to organize an international level training, made joint collaboration with Euromoney Learning Solutions which is a world leading provider of premium public courses especially e-Learning and tailored learning solutions. Mr. Edward Bodmer, financial consultant from USA, conducted the workshop. He created innovative forward pricing, productivity measurement and investment valuation software for consulting clients throughout the United States. To support this initiative, The Daily Star and Le Meridien were the strategic partner and hospitality partner respectively. On the workshop Mr. Bodmer covered many issues on valuation analysis of debt and equity, project finance models, alternative types of project finance transaction, analytical failures in project finance, market risk and mitigation tools, covenants in project finance and reserve accounts & modelling theories and practices. The workshop was followed by an open-ended stakeholders? panel discussion where the panel discussants were Mr. Imran Karim, Group Managing Director of Confidence Group and Mr. AKM Abdullah, Financial Sector Development Specialist of the World Bank. They shared their practical insights of public & private project financing with the participants; and the engagement was very insightful as shared by the participants."

IDLC Partners with IWF to Promote Mental Health and Wellbeing at High School Level

"IDLC as part of its Corporate Responsible Practices partnered with Innovation for Wellbeing Foundation (IWF) to pilot the development and implementation of mental health and wellbeing programs in high schools with an aim to enhance the human capital of the country. As per World Health Organization (WHO), globally 450 million people suffer mental illness; depression is the second leading cause of disability and suicide is the second leading cause of death among the population aged between 15 to 29 years. According to national survey conducted by WHO and The National Institute of Mental Health (NIMH) in the year 2003-2005, in Bangladesh 18.4% children and 16.01% adults suffered mental illness. Mental health of children is at risk for poor parenting, academic pressure, bullying, substance abuse sexual abuse etc. Mental illness is still highly stigmatized and early detection and treatment of the problem is often hindered. Moreover in Bangladesh, there is one mental health professional for 200,000 people. Considering the limited resources and environmental factors an effective mental health promotion and mental illness prevention program targeting high school students is crucial to ensure a productive and healthy future generation. Thus, IWF conceived this program aiming at promoting health program at school level and document the process for replication in other schools by the Ministry of Education, development partners and civil society organizations. The Government of Bangladesh has introduced mental health component in Grade IX and X under Physical Education and Health. Accordingly, IWF facilitated Mental Health First Aid (MHFA) lite course with 180 High School Teachers including Head Teachers from Potia, Bashkhali, Swandip and Chittagong City Corporation area, Dhaka Metropolitan city and Netrokona District. From the initial facilitation, it was observed that teachers lack adequate knowledge on mental health issues of adolescents. As a result, the SSC curriculum which covers the mental health module, may not be able to achieve its goal entirely. The IDLC-IWF pilot project will provide lessons learned for policy advocacy to strengthen teachers? capacity to manage mental health issues of the vulnerable groups. Under the MoU signed between IDLC and IWF, among others IWF will conduct a baseline survey, review MHFA for youth international training materials, translate and adapt for Bangladesh context, design and print Instructor kit, training manual and workbook, provide training to teachers on MHFA, develop educational materials for field testing and implement the program in collaboration with selected schools. The signing was chaired by Mr. Arif Khan, CEO & Managing Director, IDLC Finance Limited and Ms. Monira Rahman, Executive Director, Innovation for Wellbeing Foundation. Senior officials from both the organizations were also present at the signing. Mental Health First Aid (MHFA) is an internationally recognized training program currently implemented in 24 countries including Bangladesh. MHFA was originally developed at the Centre for Mental Health Research at the Australian National University in Canberra. MHFA England invested its human and financial resources to develop and train Bangladeshi nationals for adapting internationally accredited MHFA course appropriate for the nation. IWF is the sole license holder for developing socially and culturally appropriate MHFA program for Bangladesh."

IDLC Signs agreement with Partnership for Cleaner Textile (PaCT) program of International Finance Corporation (IFC)

"IDLC Finance Limited is persisting its venture to explore new sectors from where it can develop a sustainable stream for the organization. In this regard, IDLC has signed an agreement with Partnership for Cleaner Textile (PaCT) program of International Finance Corporation (IFC) with an aim to develop a concise action based business development strategy and a sustainable pipeline of clients, and gaining market recognition for its work in water & energy efficiency sector. The signing ceremony was held through a workshop titled ""Solar PV & LED Lighting"", organized by the Textile Technology Business Center (TTBC) under the PaCT program of IFC on 4th May, 2016 at Hotel Westin, Dhaka. The signing was chaired by Mr. Arif Khan, Chief Executive Officer & Managing Director, IDLC Finance Limited and Ms. Wendy Werner, IFC Bangladesh Country Manager. Mr. Md. Siddiqur Rahman President of the BGMEA, Mr. Faruque Hassan, Senior Vice President, BGMEA, Mr. Siddique Zobair, Member (Energy Efficiency & Conservation) of SREDA and speakers from GE, Deloitte, IDLC, SREDA, BUET and other industry experts spoke during the event. This engagement will result in developing a strategy paper on Sustainable Energy Financing (SEF), business development and building of a solid portfolio of Energy & Water Efficiency, strengthening IDLC`s position in the green industry. IDLC will provide financial solution to the PaCT partners for adopting resource efficiency technology across the industry thus enhancing its share towards sustainability."

IDLC Finance Limited inaugurates Kushtia branch

IDLC Finance Limited inaugurated its newest branch on Kushtia. Mr. Arif Khan, CEO & Managing Director, IDLC Finance Limited, Md. Abdur Rashid, Managing Director of Rashid Group, Haji Md. Robiul Islam, president of Kushtia Chamber of Commerce and Industry, local businessmen and high officials of IDLC were present in the inauguration ceremony. Mr. Arif Khan said, "We are proud of opening this branch in Kushtia. This is the result of our effort to sprawl our services all over the country. With this branch, we will be more close to our customers in Kushtia to offer our diverse array of financial and non-financial services." The new branch is located at 2nd Floor, Momtaj Tower, 5/1 Jaliram Agrawal Lane, Roxi Goli, N.S Road, Kushtia-7000.

IDLC Finance Limited inaugurates Hobiganj branch

IDLC Finance Limited inaugurated its newest branch on Habiganj. Advocate Md. Abu Zahir, Member of Parliament, Habiganj-3, inaugurated the branch on April 11, 2016. Mr. Arif Khan, CEO & Managing Director, IDLC Finance Limited,Md. Motassirul Islam, president-Chamber of Commerce & Industry , Habiganj, local businessmen and high officials of IDLC were present in the inauguration ceremony. Mr. Arif Khan said, "We are proud of opening this branch in Habiganj which is the result of our endeavor to reach out to more people. With the opening of this branch, we can now easily provide our services to the business customers of this area." The new branch is located at 1st Floor, Shankar City, Ramkrishna Mission Road, Ghatia Bazar, Habiganj 3300.

IDLC declares 25% cash dividend at its 31st AGM

"The 31st Annual General Meeting (AGM) of the shareholders of IDLC Finance Limited was held on Wednesday, March 30, 2016 at the Radisson Blu Water Garden Hotel, Dhaka. In line with the proposal by the Board of Directors, the AGM approved 25% Cash Dividend (Taka 2.50 per share) for the company`s shareholders for the year 2015. The AGM also approved the proposal of enhancement of Authorized Capital of the Company to BDT 1,000 crore by amending of Clause V of the Memorandum and Article 7 of the Articles of Association of the Company subject to the approval by regulatory authorities. It was also mentioned in the AGM that during 2015, IDLC reinforced its presence as a sector leader in the country and strengthened its positioning as a customer-centric non-banking financial institution. Despite several challenges on the political and economic front that led to sluggish industrial growth, IDLC reported a respectable performance during the year. At the end of 2015, the IDLC Group`s total loans & advances stood at Taka 55,212 million, an increase of 17.30% over last year, while deposits grew by 30.14% to Tk 47,624 million. Simultaneously, net profit after tax rose by 17.16% to Taka 1,459 million. Aziz Al Mahmood, Chairman, IDLC Finance Limited presided over the AGM, which was also attended by other Directors -Faruq M. Ahmed (Chairman of the Executive Committee), Monower Uddin Ahmed (Independent Director and Chairman of the Audit Committee), Md. Kamrul Hassan FCA, Mati Ul Hasan, Atiqur Rahman and the CEO & Managing Director, Arif Khan CFA FCMA. A large number of shareholders were present at the meeting. The Chairman and Managing Director both welcomed the assembled shareholders and thanked them for their continued sponsorship of IDLC. The Chairman said that IDLC has delivered a robust financial performance and made good strategic progress in 2015. He also opined that the company`s strong Balance Sheet and the market positions of its businesses are poised to deliver sustainable profit growth and shareholder returns over time. Shareholders, too, voiced their appreciation at the significant step up in the Group`s operations."

IDLC SME Division celebrates SME Night 2016

IDLC SME Division arranged its annual employee recognition program on March 25, 2016. The program was met with great enthusiasm by the participants. Arif Khan, CEO & MD, IDLC Finance Limited, Senior Officials and all the employees of SME Division attended the program.

IDLC Purnota Club Organizes "Women Entrepreneur Trade Fair" to Celebrate International Women's Day

On 8th of March, IDLC Purnota Club organized "Women Entrepreneur Trade Fair" to celebrate International Women`s Day. The fair had stalls by women entrepreneurs having products like boutique, clothing, shoes, handicraft, leather goods, pop books, crockeries, etc. The event was met with great enthusiasm by guests and IDLC employees. Ms. Nazneen Sultana, Former Deputy Governor of Bangladesh Bank, Ms. Nasreen Fatema Awal, founder President of Women Entrepreneur Association of Bangladesh (WEAB), Ms. Falguni Hamid, Actress, Ms. Farzana Rupa, Special Correspondent of Channel 71, Ms. Tania Wahab, owner of Karigar and Mr. Arif Khan, CEO & MD, IDLC Finance Ltd spoke on the occasion. The ceremony closed with a cake cutting ceremony and light refreshments for the attendees.

Arif Khan, the new CEO & MD of IDLC

"Arif Khan has been appointed as the new CEO & Managing Director of IDLC Finance Limited with effect from March 01, 2016. Mr. Khan played a vital role in the development of capital market as ?Commissioner? of Bangladesh Securities and Exchange Commission (BSEC) during last 5 years. He started his career with AB Bank Limited as Probationary Officer in 1991. He has around 24 years of experience, out of which around 15 years with IDLC and has experience for brief periods with Institutions like BAT, Beximco Fisheries & Zenith Investments Limited. While leaving IDLC in December 2010, Mr. Khan was the Deputy Managing Director of the Company. Mr. Khan holds the Chartered Financial Analyst (CFA) Charter and is a member of the CFA Institute, USA. He is also a Fellow Member (FCMA) of the Institute of Cost and Management Accountants of Bangladesh (ICMAB). He obtained his Master?s in Business Administration (MBA) from Institute of Business Administration (IBA), Dhaka University and also obtained M. Com from Dhaka University in Finance and Banking, with distinctive position of First Class Second."

IDLC Participated at BARVIDA Car Expo 2016

As a part of our marketing strategy, IDLC Finance Limited successfully partaken in "BARVIDA Car Expo 2016", which was a three day event organized by Bangladesh Reconditioned Vehicles Importers and Dealers Association (BARVIDA). The expo was held at the International Convention City Bashundhara (ICCB), Dhaka during 22nd to 24th January 2016. Mr. Shajahan Khan, MP, Honorable Shipping Minister of Bangladesh Government, was present as the Chief Guest in the Inaugural Session. Renowned reconditioned vehicle Importers & Dealers, Financial Institutions, Insurance companies, CNG conversion service providers, car accessories & parts sellers, car security service providers and other relevant stakeholders participated in the fair. Md Abdul Hamid Sharif, President, BARVIDA along with state bodies like the National Board of Revenue (NBR) and Bangladesh Road Transport Authority (BRTA) were also present at the event, interacted with the visitors & provided them with necessary information. Consumer Division successfully promoted its Car Loan products throughout the fair period and received almost 200 prospective client database, who paid a visit to our stall and placed queries regarding car loan. A good number of loan applications have already been submitted & some are in process of submission, which were sourced through the fair. We firmly believe that our participation in the fair has facilitated us with a distinct branding regarding our product features. We hope it would take us one step ahead towards maintaining our position as one of the major market leaders in Car Loan industry of the country.

IDLC Discloses Financial Performance for the 1st Half Year 2017

View our full Financial Performance for the first Half of 2017 here

1st Half 2017 (January – June 2017) Performance Highlights of IDLC Finance Limited:

  • Net Profit After Tax of Taka 1,169mn, 33% year on year growth
  • Diluted Earnings Per Share (EPS) in H1 2017 is Taka 3.28 against Taka 2.72 in the same period last year
  • Customer assets grew by 13% in 2017 to reach Taka 70bn

IDLC Finance Limited reported Net Profit after Tax of Taka 1,169mn in the first half of 2017, recording a substantial growth of 33% from the same period last year. Earnings per Share (diluted) also increased 21% to reach Taka 3.28 for the period.

In these 6 months IDLC acquired 5,779 new customers and grew the Customer Assets portfolio by 13% or Taka 7,927mn to end the first half with a loan book of Taka 70bn. This growth in customer assets was driven primarily by the SME Loans, which experienced a healthy 18.6% growth in this period. SME loans currently comprise 45% of the total loan book of IDLC with close to Taka 31bn. The other business segments of the company - Corporate and Consumer Finance – and, especially the two major subsidiaries – IDLC Investments Limited and IDLC Securities Limited – also delivered strong performance.

In the reported period, IDLC’s annualized ROA and ROE figures stood at 2.77% and 22.89% respectively, compared to 2.34% and 22.30% respectively, in the same period last year. The NPL (Non-performing Loan) ratio stood at 2.84% as at June 30, 2017 compared to 2.98% as at December 31, 2016.

Arif Khan, CEO & Managing Director of IDLC Finance Limited, expressed his satisfaction with the financial result of the company. He said, “While our core lending business continued its growth momentum and delivered consistent financial performance in the first half year of 2017, our subsidiaries produced exceptional results to elevate the overall profitability to a new height”.

The company’s operating income rose by 25% year on year to Taka 3,155mn. The growth in Operating Income was driven by healthy Investment Income as well as increase in Net Interest Income and Fee Income. In the reported period, IDLC Asset Management Limited launched its first open-end Mutual Fund named “IDLC Balanced Fund”. The company also continues its focus on people, which is reflected in 4,734 man hours of training arranged in the reported period.

Mr. Khan re-iterated IDLC’s commitment to provide the best of the class service to all its clientele adding, “At IDLC, we focus on solving the problems of our customers and profits come as a by-product of that. We are now serving over 47,000 customers in the IDLC group and aim to serve numerous more in the coming years. We are continuously investing in our technological infrastructure as well as strengthening our human resources to improve the quality of service that we provide”.

 

"Making money is secondary. IDLC tries to solve the problem of people and profit comes as a logical by product in that process." CEO & MD of IDLC Finance shares his thoughts on the financial industry with FiNTECH.

To view the full article, please click on - http://bit.ly/ArifKhanInterview

Baridhara Cosmopolitan Club Limited signs Term Sheet with IDLC Finance Limited for raising BDT 500 million

Baridhara Cosmopolitan Club Limited has recently mandated IDLC Finance Limited as their Corporate Advisor and Arranger for raising BDT 500 Million through sale of its corporate and permanent memberships. A total of 240 memberships shall be up for sale through IDLC Finance Limited. 

Mr. Arif Khan, CEO & Managing Director of IDLC Finance Limited and Mr. Lt. Gen. Masud Uddin Chowdhury (Retd), Acting President of Baridhara Cosmopolitan Club Limited formalized the signing in an agreement signing ceremony. Senior officials of both organization were present during the signing ceremony.

IDLC Launches Its First Open End Mutual Fund - IDLC Balanced Fund

"IDLC Asset Management Limited has announced the launch of its first open end mutual fund - IDLC Balanced Fund - on 22nd May, 2017 through a grand event held at Pan Pacific Sonargaon Dhaka. IDLC Asset Management Limited is a wholly-owned subsidiary of IDLC Finance Limited - largest financial institution in the country. IDLC Finance Limited is the Sponsor of the fund and IDLC Asset Management Limited is its Asset Manager. Investment Corporation of Bangladesh is the Trustee & Custodian of the fund.
IDLC Balanced Fund offers fund management through skilled Fund Managers mitigating investment risk. Investors can invest anytime, any amount starting from BDT 5,000 (for individuals) and BDT 50,000 (for institutions) with the facility of anytime fund withdrawal at Net Asset Value with the lowest exit load. Investors can also check the present value of their investment every week on the company’s website. The objective of IDLC Balanced Fund is to deliver the investors regular annual income as well as capital gain in the long term. IDLC Balanced Fund is an ideal fit for people looking for a long-term investment vehicle to better achieve their life goals.
Dr. A. B. Mirza Azizul Islam, Former advisor to the Government of Bangladesh, Ministry of Finance has graced the event as the Chief Guest, while Prof. Dr. Mohammad Musa, Dean, School of Business and Economics, United International University was also present as the Special Guest.
Arif Khan, CEO and MD of IDLC Finance Limited said, “IDLC is launching its first mutual fund for the common people of Bangladesh. As a result of mass participation presumably with a long-term orientation, our capital market will receive a good, stable flow of fund. Most importantly, since individual investors will participate in the capital market through institutionalized products like mutual funds, volatility of the market will lower.”
Rajib Kumar Dey, MD, IDLC Asset Management added, “IDLC Balanced Fund will give people a tool to better manage their fund and grow it consistently over a longer horizon to materialize their aspirations of life. We expect our initiative will benefit our citizens, our capital market and, as a whole, the nation.”
IDLC, as one of the most progressive financial brands, has always tried to come up with financial products/ services to enrich the lives of people. It believes, through the launching of mutual funds, a healthy investment-worthy environment will be created which will encourage common people to consider investment for their better financial growth. This initiative will bring a positive change in the investment practices of the common people of this country.

Q1 2017 Earnings Disclosure

 

1st Quarter 2017 (January - March 2017) Performance Highlights of IDLC Finance Limited: - Net Profit After Tax of Taka 601mn, 67% Year on Year growth - Diluted Earnings per Share (EPS) in Q1 2017 is Taka 1.80 against Taka 1.11 in the same period last year - Customer assets grew by 9% to Taka 67,651mn IDLC Finance Limited reported Net Profit after Tax of Taka 601mn in the first quarter of 2017, recording a substantial growth of 67% from the same period last year. Profit before Tax for the period increased 41% year on year and stood at Taka 969mn for the quarter in review. In these 3 months IDLC acquired 3,169 new customers and grew the Customer Assets portfolio by 9% or Taka 5,387mn to end the quarter with a loan book of Taka 67,651mn. This growth in customer assets was driven primarily by the SME Loans, which experienced a healthy 11% growth in this period. SME loans currently comprise 44% of the total loan book of IDLC with Taka 28,798mn. The other business segments of the company - Corporate and Consumer Finance - and two major subsidiaries - IDLC Investments Limited and IDLC Securities Limited - also delivered strong performance. "All our business verticals - SME, Consumer, Corporate, Deposits and Capital Market Operations - have delivered a very strong performance in the first quarter and combined, we have delivered a noteworthy 3 months profit in 2017 " said Arif Khan, CEO & Managing Director of IDLC Finance Limited. He added " This is reflected in our annualized ROA and ROE figures at 2.90% and 24.20% respectively. In comparison, these numbers stood at 1.90% and 18.80% in Q1 2016 respectively. The focus remains firmly on continuing the good performance for the rest of the year and continue to improve our portfolio quality further. In Q1, our NPL (Non-performing Loan) ratio fell to 2.79% compared to 2.98% at the end of December 2016 and 3.06% at the end of Q1 2016. " The companys operating income rose by 30% year on year to Taka 1,639mn, which enabled the cost to income ratio to be restricted to 35%. The growth in Operating Income was driven by healthy Investment Income as well as increase in Fee Income. Major new developments in Q1 2017 include Bangladesh Banks approval for four new branches and issuance of the Registration Certificate by Bangladesh Securities & Exchange Commission (BSEC) in favor of IDLC Balanced Fund, an open end Mutual Fund to be managed by IDLC Asset Management Limited. Besides, the company doubled down its focus on people, which is reflected in 2,618 man hours of training and the introduction of an upgraded performance management system. Khan said, " As we mark the end of this years first quarter, our efforts shall continue on delivering value to our investors, our people, the government and towards the society at large. " Earnings Disclosure Q1 2017 (Slides)

IDLC declares 30% cash dividend at its 32nd AGM

The 32nd Annual General Meeting (AGM) of the shareholders of IDLC Finance Limited was held on Thursday, March 30, 2017 at the Radisson Blu Water Garden Hotel, Dhaka. In line with the proposal by the Board of Directors, the AGM approved 30% Cash Dividend (Taka 3.00 per share) for the company`s shareholders for the year 2016. It was also mentioned in the AGM that during 2016, IDLC reinforced its presence as a sector leader in the country and strengthened its positioning as a customer-centric non-banking financial institution. In 2016 political stability has also fostered an environment that has encouraged investments under the Government`s annual development programme, resulting in a conducive business environment. IDLC reported a respectable performance during the year. At the end of 2016, the IDLC Group`s total loans & advances stood at Taka 62,265 million, an increase of 13% over last year, while deposits grew by 4% to Taka 49,324 million. Simultaneously, net profit after tax rose by 22% to Taka 1,780 million. Aziz Al Mahmood, Chairman, IDLC Finance Limited presided over the AGM, which was also attended by other Directors - Faruq M. Ahmed (Chairman of the Executive Committee), Monower Uddin Ahmed (Independent Director and Chairman of the Audit Committee), Meherun Haque, S. M. Mashrur Arefin, Mohammad Mahbubur Rahman FCA, Md. Kamrul Hassan FCA, Syed Shahriyar Ahsan, Mati Ul Hasan, Atiqur Rahman, Niaz Habib, Matiul Islam Nowshad and the CEO & Managing Director, Arif Khan CFA FCMA. A large number of shareholders were present at the meeting. The Chairman and Managing Director both welcomed the assembled shareholders and thanked them for their continued sponsorship of IDLC. The Chairman said that IDLC has delivered a robust financial performance and made good strategic progress in 2016. He also opined that the company`s strong Balance Sheet and the market positions of its businesses are poised to deliver sustainable profit growth and shareholder returns over time. Shareholders, too, voiced their appreciation at the significant step up in the Group`s operations.

IDLC supports Badal Miah's Family

"Badal Mia, a railway staffer of Bangladesh Railway, saved a little girl's life from a train accident on 27 January 2017. While saving the girl's life, Badal Miah lost his own. Not everyday do we find people who are willing to sacrifice their own lives to save another. Nothing we do can bring Badal Miah back to life but the least we can do is to support the bereaved family. IDLC Finance Limited, the largest financial institution of the country salutes the departed soul of the valiant Badal Miah and as a tribute to his heroic act, IDLC is going to appoint his son Shohag Miah (18) as a support staff at its Mymensingh Branch. This was just a small contribution to the family under IDLC's CSR activities to ensure sustainable livelihood for the family. IDLC wishes the best for Shohag Miah's new journey."

Q4 2016 Earnings Disclosure

"IDLC declares 30% Cash Dividend in 2016 amid strong financial performance -30% Cash Dividend proposed by the Board of Directors -Net Profit After Tax of BDT 1,780mn, 22% Year on Year growth -Earnings per Share (EPS) grew to Taka 7.08 from Taka 5.81 in the previous year -Customer Assets increased by 13% (BDT 7,053 mn) to reach BDT 62,265mn IDLC Finance Limited reported Net Profit after Tax of BDT 1,780mn in the year 2016, recording a strong 22% growth from last year. Operating Income for the year also increased by 13% year on year and stood at BDT 5,167mn. The Board of Directors approved the consolidated financial statement in its meeting held on 20th February 2017 and proposed 30% Cash Dividend. In the reporting year IDLC group acquired 9,575 new customers to take the total number of customers to more than 45,000. Total customer loans grew by 13% (BDT 7,053mn) and stood at BDT 62,265mn at the end of the year. The SME division of the company led the growth with an increment of BDT 3,686mn (16%) in its portfolio to end the year with a BDT 26,054mn loan book. The corporate division grew its portfolio by 2,783mn (26%) to end at BDT 13,406mn while the consumer division closed the year with loans of BDT 21,415mn recording a growth of BDT 782mn (4%). The Non-Performing Loans (NPL) of the company reduced to 2.98% at the end of 2016, compared to 3.06% in the previous year. Two major subsidiaries of the company, IDLC Investments Limited and IDLC Securities limited also posted strong performance with 42.5% & 7.6% growth, respectively, in profitability over the preceding year, contributing to a very strong group performance. ""All our business divisions - SME, Consumer, Corporate and Deposits; and our capital market subsidiaries - delivered a very strong performance throughout the year and resultantly, we could deliver a robust financial performance. It is a very exciting time for each one of our 1,262 team members and for me, personally, to lead the IDLC group to newer heights every year"" said Arif Khan, CEO & Managing Director of IDLC Finance Limited. He added ""These results would not have been possible without the support & guidance of the Board of Directors, the continued patronage of our customers and the astute supervision of our regulators. We keep our feet firmly on the ground while we pursue further growth and profitability embracing the culture of superior transparency and corporate governance standards that IDLC cultivated over the last three decades of operations""."

IDLC Awarded as a Winner for Best Presented Annual Report 2015 by SAFA (South Asian Federation of Accountants)

"IDLC Finance Ltd. has been honored with South Asian Federation of Accountants (SAFA) Best Presented Annual Report Awards 2015 under the category of Financial Services Sectors. It also bags SAARC Anniversary Award for Corporate Governance Disclosure as the winner. In addition to the above mentioned the company has been awarded as the recipient of `Certificate of Merit` for the year 2015 in the `Integrated Reporting` category. The award ceremony was held on 27th January, 2017 at Pan Pacific Sonargaon hotel. Arif Khan, CEO & Managing Director of IDLC, received the awards from Abul Maal Abdul Muhit , Finance Minister, Government of the People`s Republic of Bangladesh. On this occasion, Khan underlined IDLC`s commitment towards maintaining the highest level of transparency, corporate governance, integrity and accountability; mentioning ""We are humbled to have been recognized for our efforts and remain committed, as an organization, to stand out for trust and transparency. IDLC always value the paramount importance of proper corporate governance to ensure fairness, transparency and accountability. IDLC is committed to continually review all its corporate governance policies and guidelines to ensure transparency in its practices and the delivery of the highest ethical standards and quality information to its stakeholders on an ongoing basis."""

IDLC Inaugurates the first ever LEED certified environment friendly branch in financial industry of Bangladesh

"With a vision to encourage market transformation towards sustainable business practice, IDLC will continue their Agrabad branch`s journey from World Trade Center, Chittagong. The new premise has recently achieved the prestigious LEED (Leadership in Energy and Environmental Design) Gold Certification from USGBC (United States Green Building Council) under the category of commercial interior. The branch is the first of its kind to achieve such acknowledgement under the aforementioned category in the financial industry of Bangladesh. Aziz Al Mahmood, Chairman, IDLC Finance Limited along with other dignitaries formally inaugurated the branch on 12th January, 2017. Arif Khan, CEO & Managing Director, IDLC Finance Limited, Board of Directors of IDLC Finance Ltd and local businessmen were also present at the event. Aziz Al Mahmood said, ""Historically IDLC has been setting new milestones. Our new environment friendly office in World Trade Center Chittagong marks another achievement as the most sustainable financial brand of Bangladesh"". Arif Khan, CEO & Managing Director, IDLC Finance Limited said, ""We are proud to open our branch at this vital location and believe to serve our stakeholders more efficiently. This is the result of our effort to spread our services all over the country. With this LEED certified green office, we will be more close to our customers in Chittagong to offer our diverse array of financial and non-financial services to enhance our share towards sustainability."" The IDLC Group is the largest Financial Institution in Bangladesh with more than Tk. 7,700 Crore in assets & net profit of Tk. 134 Crore till September 2016. IDLC employs 1,400 staff across its 34 branches. IDLC Finance, the Group`s parent company, maintains equal focus in the SME, Consumer and Corporate segments. IDLC Finance also has a significant presence in the Capital Markets through its wholly-owned subsidiaries, IDLC Investments Ltd, IDLC Securities Ltd and IDLC Asset Management Ltd."

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