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The deal was signed on Saturday at Raowa Convention Centre in the capital
A memorandum of understanding (MoU) has been inked between Bangladesh Association of Software and Information Services (BASIS) and IPDC Finance Ltd, under which IPDC will offer its strategic product "Joyee" for women entrepreneurs of BASIS.
Similarly, IPDC will also offer supply chain financing through "Orjon" to all the members of BASIS.
"Orjon" is a comprehensive supply chain financing solution which provides financial facilities to corporate organizations, micro and small enterprises (MSEs) in one single chain.
The deal was signed on Saturday at Raowa Convention Centre in the capital.
Planning Minister MA Mannan, was present as chief guest, while ICT State Minister Zunaid Ahmed Palak was present as special guest.
BASIS President Syed Almas Kabir said, “We promised to secure the financial security of our BASIS members. We are also glad to be in venture with IPDC Finance, as the institution has been doing good work in enabling people to achieve their lifelong desires. I believe this MoU will help BASIS members companies to grow their business and have financial gain at the same time.”
Mominul Islam, managing director and CEO of IPDC Finance Ltd said, “IPDC patronizes collaboration as the new innovation. To be able to partner with the largest the national trade body for Software & IT Enabled Service industry of Bangladesh, BASIS fills us with confidence for greater heights. We are glad to be in venture with BASIS, because such associations are the driving force of the vision of Digital Bangladesh.”
Under the agreement, members of BASIS will get special rate of interest to avail loan from IPDC Finance Ltd. Mominul Islam, MD & CEO of IPDC and BASIS President Syed Almas Kabir exchanged the agreement.
Among others, BASIS Vice President Shoyeb Afmed Masud, Director Tamzid Siddique Masud, and other top BASIS officials were also present.
Borrowers’ repayment behaviour poses a major challenge to the banks and non-bank financial institutions in Bangladesh in maintaining growth and quality portfolio, said Mominul Islam, managing director of IPDC Finance.
He made the remarks while presenting the first quarter performance of the non-bank financial institution at an event at the Westin Dhaka hotel in the city on Thursday.
There is an increasing tendency among many borrowers not to pay back loans in time, pushing default loans to a record level.
Despite various challenges, IPDC pulled off 120.5 percent year-on-year increase in net profit to Tk 15.9 crore in the January-March quarter, Islam said.
Non-performing loans came down to 1.2 percent in March from 2.14 percent in December last year. IPDC’s bad loan is the lowest among all the publicly listed NBFIs in Bangladesh thanks to its quality portfolio, Islam said.
Though the financial market has been under a liquidity pressure, IPDC has not faced any such problem due to a strong deposit base.
Large corporate and multinational companies are interested to park funds with the NBFI for its good governance, according to Islam.
“We do not see the liquidity pressure as a major challenge unless it is a systemic failure because our economy is strong.”
The main sources of fund for IPDC are public deposit and bank borrowing. Some 47 percent deposits come from the public and 30 percent from bank borrowing.
“We are discussing with the central bank to simplify the issuance of bonds so that NBFIs can raise funds,” said Islam.
The revenue growth of IPDC was mostly driven by the corporate sector. And Islam said the strategic focus would be on small and medium enterprises, women and retail banking in the future.
Currently, women make up 13 percent of the total loan portfolio of IPDC and it plans to raise it to 30 percent by 2020.
“We want to focus on women financing because their repayment behaviour is much better than men’s,” Islam said.
He said consumerism is booming in Bangladesh but the credit penetration is still very low. Banks face regulatory constraint in the consumer banking segment but the NBFIs do not face such constraint.
“So, the NBFIs have opportunity to broaden their consumer financing by developing diversified products. IPDC is working on consumer financing,” he said.
IPDC has set a target to increase the number of its branches to 16 by this year from 12 in 2018.
The NBFI closed at Tk 34.20 on the Dhaka bourse on Thursday, the last session of the week.
IPDC Finance, the first private sector non-banking financial institution of the country, has conducted an enlightening session of their performance, benchmarks, key strategic initiatives and the challenges that lay ahead. The session titled “Investors Meet” was conducted on Thursday at Westin of the Capital.
Existing and potential investors were pleased to learn the exemplary performance of the company within a span of three years of laying its strategic initiatives. After the onset of BRAC, the largest and No.1 nongovernmental organization of the world as one of the major shareholder, IPDC had realigned their focus on nationwide spread with diversified services to steer up its next phase of growth and has been successfully implementing the newly defined strategies for the upcoming years. These strategies include ‘A Home for Every Family’, ‘Empowering Women’, ‘Creating Entrepreneurs’, ‘Beyond Mega Cities’ and ‘Bring Convenience at Home’.
From IPDC, Mominul Islam, Managing Director and CEO; Rizwan Dawood Shams, DMD & Head of Business Finance; Md. Kyser Hamid, DMD & Head of Retail Business & other high officials were present at the event.
Also, representatives from LankaBangla Investments, BRAC EPL Investments LTD, IIDFC Capital Limited, CAPM Advisory, Brummer & Partners (Bangladesh) & other notable financial institutions were also present in the event.
Mominul Islam, Managing Director & CEO IPDC Finance Limited speaking at the occasion said, “IPDC’s undertaking is relevant to the socio-economic challenges and opportunities of Bangladesh in the next ten years. Having the precise road map, we have created a holistic approach and introduced a digital platform and product namely Orjon for Supply Chain Finance and Bhalo Basha i.e. Affordable Home loan beyond megacities and many other in process.’’
Deedarul Huq Khan, Chief Executive Officer, BRAC EPL Investments LTD quoted “IPDC indeed has attained an astounding transformation by growing its business tenfold and reducing the NPL from one of the highest in the country to one of the lowest around at 1.2%. A profit growth of 120% year over year in the first quarter of 2019 itself is an indicator of its diligence.’’
Technology and innovation will fundamentally change the way products and services are conceived, delivered and consumed and the scale of tech jobs will be overwhelming through economical, political and societal impacts, said Anis Ud Dowla, chairman of ACI Group, on Friday.
Some 40 percent of jobs will disappear in 10 years and 50 percent, or 2 billion, jobs by 2030, while 65 percent of primary level students will take up ones that currently do not exist, he added.
A French study found that the internet caused 800,000 job losses but created another 1.4 million, he said while emphasising the need for being better equipped for Industry 4.0, commonly referred to as the fourth industrial revolution.
In this regard, Dowla quoted World Economic Forum Founder Klaus Schwab as saying last year that the concept of disruptive technology should be a wake-up call for it had the capability of robbing competitive advantages.
He was speaking at a session at the 2nd International Conference on Business and Management 2019 at The Westin Dhaka.
Brac University’s Brac Business School organised the event with the theme “Industry Focused Global Research Trends in Business and Management”.
Meanwhile at an academia-industry discussion on co-creation of knowledge on the second day of the three-day conference, Prof Salehuddin Ahmed, former governor of the Bangladesh Bank, said the country’s focus should now be on balanced development.
Social development and equality should get emphasis alongside the economy, he said, lamenting a lack of willingness despite all being aware of existing problems and associated solutions.
He also accused the industry of refraining from disclosing the amount they spend behind research and development.
Mominul Islam, managing director and CEO of IPDC Finance, expressed concern over a lack of financial literacy and tech access in Bangladesh alongside a dearth of empathy and emotional intelligence.
Prof HM Jahirul Haque, vice chancellor of the University of Liberal Arts Bangladesh, said the industry needs to be generous in funding research and curriculum development.
Bangladesh’s biggest challenge now is the scarcity of adept human resource, opined ASM Mainuddin Monem, deputy managing director of Abdul Monem Ltd.
IPDC Finance Limited, the first private sector financial institution of Bangladesh established in 1981 has signed a Memorandum of Understanding (MOU) with Anwar Landmark Ltd., one of the leading real-estate and infrastructure development wing of the country since its inception in 2001. Recently the deal was signed in IPDC Finance Ltd’s head office.
Under the MOU, customers of Anwar Landmark will get special rate of interest to avail Home loan & Auto Loan from IPDC Finance Ltd. Mr. Mominul Islam, MD & CEO of IPDC and Mr. Hossain Khaled, MD of Anwar Landmark Ltd has exchanged the agreement.
The signing ceremony was also attended by Mr. Kyser Hamid, DMD & Head of Retail Business of IPDC and Mr. Noor-E-Alam Siddike, ED (Marketing & Sales) of Anwar Landmark along with other high officials
Hossain Khaled, Managing Director of Anwar Landmark Ltd said, “We are glad to be in venture with IPDC Finance, as the institution has been doing really good work, in enabling people to achieve their life long desire. We at Anwar Landmark Ltd believe and work for enabling people’s desires and with the signing of this MOU, we hope to do that together.”
Mominul Islam, Managing Director and CEO of IPDC Finance Limited said, “Everyone desire of a perfect home with a car in their garage, but not everyone believes they can afford it. IPDC has always been working towards enabling our customers to transit from the desire realm into reality and with this MOU, we hope to bring them a step closer in achieving those desire.”
Photo Caption- IPDC Finance Limited, the first private sector financial institution of Bangladesh established in 1981 has signed a Memorandum of Understanding (MOU) with Anwar Landmark Ltd., one of the leading real-estate and infrastructure development wing of the country since its inception in 2001. Recently the deal was signed in IPDC Finance Ltd’s head office. Mr. Mominul Islam, MD & CEO of IPDC and Mr. Hossain Khaled, MD of Anwar Landmark Ltd has exchanged the agreement. The signing ceremony was also attended by Mr. Kyser Hamid, DMD & Head of Retail Business of IPDC and Mr. Noor-E-Alam Siddike, ED (Marketing & Sales) of Anwar Landmark along with other high officials
IPDC Finance has recently launched a nationwide “affordable” home loan offer titled “Bhalo Basha” making eligible anyone earning a minimum of Tk 20,000 per month.
Though a maximum 90 percent of a property's value can be availed for 25 years tops, the loan limit will be decided based on the customer's income and property value.
Customers' loan repayment source will be verified while proof of income and amount of immoveable property taken into consideration, the non-bank financial institution said in a statement yesterday.
The offer is for purchasing apartments and home renovations and does not cover properties under Dhaka and Chattogram city corporations.
“Sometimes financial crisis stands as a barrier to building a dream house in someone's own town,” said Mominul Islam, CEO of IPDC Finance.
“IPDC has brought the affordable home loan offer so that our valuable customers can afford to build their own dream house within the city that they have yearned for long since,” he said.
“Our representatives will be always there to help the applicants at every step of the loan process,” he added.
To cope with the challenging and competitive world, Dhaka University Career Club (DUCC) is set to organise IPDC Young Professional Summit 2019 on March 9
The summit with the theme "CEOs of Future" will be held at Nawab Ali Chowdhury Senate Bhavan, University of Dhaka. A road show will be organized on 11 universities to encourage the students, a press release said.
The event launching ceremony of "DUCC presents IPDC Young Professional Summit 2019" has been taken place on Tuesday at FBS Conference Hall, University of Dhaka at 2:00 pm, the release added.
The event was initiated by Light House Bangladesh, powered by Quality Group and supported by Urmee Group & Faculty of Business Studies, University of Dhaka. The proud title sponsor of the event was IPDC Finance Limited.
The press release also read, “In today’s workforce there is a widespread belief, that personal ‘soft skills’ have become increasingly valued by employers. While earlier it was accepted that organizations traditionally hired employees for their technical or functional skills, today employers place greater emphasis on less tangible qualities such as; good communication skills, cooperativeness, flexibility and a positive attitude.”
“To win over criticism a well-developed personality, with strong soft skills could ensure a healthy work. To keep up with the ongoing competitions and keeping bunch of people in mind, Dhaka University Career Club is going to organize a summit.”
The chief guest of the program was Prof. Shibli Rubayat Ul Islam, Dean, Faculty of Business Studies, University of Dhaka. He announced the inauguration of the event. In the event, the other speakers were Moin Ul Islam, Managing Director, IPDC Finance Limited, Md. Mushfiqur Rahman, Business Development and External Affairs, Mind Mapper, Ahashanuzzaman Shujan, Manager, Human Resource, IPDC Finance Limited, Najmus Ahmed Abab, CEO, Lighthouse Bangladesh, Mr. Asif Ashraf, Managing Director, Urmee Group, Mr Uzair Hafiz, Assistant Director, Quality Integrated Agro Limited.
Md. Muhyminul Islam, the president of Dhaka University Career Club(DUCC) also delivered his welcome speech. The presidents and secretaries of other clubs of University of Dhaka as well as the club presidents and secretaries from other 11 universities also joined the ceremony.
About 200 students from Dhaka University and other universities jeweled the ceremony. The universities are BRAC University, Bangladesh University of Professionals, Daffodil International University, Jagannath University, Jahangirnagar University, American International University Bangladesh, East West University, Ahsanullah University of Science and Technology, Bangladesh University of Textiles and United International University.
The whole KEYNOTES of the summit are Change Maker, Communicator, Personal Branding, Future CEO, Innovator and PANELS are Challenges Ahead and Strategy & Execution will be briefed in the event. The summit will provide a unique opportunity for the young rising stars to gather knowledge through interacting with the corporate, industry and social leaders and broaden the network.
IPDC Finance Limited has been honoured as the joint Second Runner-Up of South Asian Federation of Accountants (SAFA) Best Presented Annual Report (BPA) Award 2018 under the category of Financial Services Sector recently.
Rizwan D Shams, DMD and Head of Business Finance of IPDC and Samiul Hashim, Company Secretary and Head of Legal Affairs received the award on Tuesday last in a ceremony held at the premises of Pune Chapter of the Institute of Cost Accountants of India in India, according to a press statement.
IPDC has been rewarded with the recognition for maintaining transparency and accountability in the organisation’s annual report.
আইপিডিসি ফাইন্যান্সের এমডি ও সিইও মমিনুল ইসলাম অর্জন করেছেন অ্যাডফিয়াপ (দ্য অ্যাসোসিয়েশন অব ডেভেলপমেন্ট ফাইন্যান্সিং ইনস্টিটিউশন ইন এশিয়া অ্যান্ড দ্য প্যাসিফিক) প্রদত্ত ‘আউটস্ট্যান্ডিং সিইও অ্যাওয়ার্ড’। সম্প্রতি ওমানের মাসকাটে শেরাটন ওমান হোটেলে আয়োজিত এক অনুষ্ঠানে তাঁকে এ স্বীকৃতি দেওয়া হয়। প্রতিষ্ঠানের উন্নয়নে বিশেষ অবদান রাখায় তিনি এ স্বীকৃতি পেয়েছেন।
মমিনুল ইসলামের নেতৃত্বে আইপিডিসির সম্পদ ৪,৩২৫ মিলিয়ন টাকা থেকে বৃদ্ধি পেয়ে হয়েছে ৪৪,৩২৫ মিলিয়ন টাকা। আয় বৃদ্ধি পেয়ে ২৬৬ মিলিয়ন টাকা থেকে ১,৮৭৫ মিলিয়ন টাকা হয়েছে। জনসম্পদ বেড়ে ৯৫ থেকে হয়েছে ৫৯৯ এবং সর্বোপরি নন-পারফর্মিং লোন (এনপিএল) ১৩.০৪ শতাংশ থেকে কমে নেমে এসেছে ২.১৪ শতাংশে। দেশের আর্থিক খাতের সর্বকনিষ্ঠ সিইও হিসেবে তিনি আইপিডিসির সংকটময় অবস্থান পরিবর্তন করে দেশের অন্যতম নন-ব্যাংকিং ফিন্যানশিয়াল ইনস্টিটিউশনে (এনবিএফআই) পরিণত করেছেন।
২০১১ থেকে ২০১৮ সাল পর্যন্ত তাঁর অধীনে আইপিডিসি ব্যবসা সম্প্রসারণ এবং সর্বাধিক এনপিএল হারের প্রতিষ্ঠানগুলোর তালিকা থেকে সর্বনিম্ন এনপিএল হারের প্রতিষ্ঠানগুলোর তালিকাভুক্ত হওয়ার মাধ্যমে ব্যাপক অগ্রগতি অর্জন করেন। এ অর্জন নিয়ে মমিনুল ইসলাম বলেন, ‘নতুন নতুন চ্যালেঞ্জ মোকাবেলা করার ক্ষুধা মেটাতে আমি সম্পূর্ণ নতুন একটি পরিবেশে চেঞ্জ এজেন্ট হিসেবে কাজ করতে প্রলুব্ধ ছিলাম।’
Mominul Islam, Managing Director and CEO of IPDC Finance Limited, receiving International Finance Awards (IFA) on behalf of the company as the 'Best Retail Finance Company' in Dubai. Sameer Ahmad, Chairman of Board Executive Committee of IPDC Finance, and Nathan Hunter, Acting Director, Business Development and Support Department, Ras Al Khaimah, seen among others
Brahmanbaria Sadar Upazila Nirbahi Officer Jannatul Ferdous, IPDC Audit Committee Member Md Enamul Hoque and Managing Director and CEO Mominul Islam hand over a blanket to a cold-hit woman at Latar Char in Patuakhali recently.