Английская Википедия:Bangladesh Industrial Finance Company Limited
Bangladesh Industrial Finance Company Limited is a major non-bank financial institution in Bangladesh.
In 2021 the company got into financial troubles due to embezzlement by its former chairman Abdul Mannan.[1] The company had given large loans that were none performing to Sunman Group subsidiaries, owned by Abdul Mannan.[2]
The company is listed on the Dhaka Stock Exchange.[3] Bangladesh Industrial Finance Company Limited was one of four financial institutions targeted by Proshanta Kumar Halder; the others were People's Leasing and Financial Service Limited, FAS Finance and Investment Limited, and Reliance Finance Limited.[4][5][6]
History
Bangladesh Industrial Finance Company Limited was established on 10 August 1996.[7] It is located in Police Plaza Concord, Gulshan.[7]
Bangladesh Industrial Finance Company Limited was listed on the Dhaka Stock Exchange in 2006.[8]
In 2014, Bangladesh Industrial Finance Company Limited was declared a Z category stock on the Dhaka Stock Exchange.[8]
Bangladesh Bank appointed an observer in the board of directors of Bangladesh Industrial Finance Company Limited in 2015.[9]
From December 2012 to December 2016, defaulted loans at Bangladesh Industrial Finance Company Limited jumped from 12 percent to 90 percent.[8] In 2012 the company had 840 million loan and 2016 it was 7.8 billion taka.[8]
In November 2017, Bangladesh Industrial Finance Company Limited was on the verge of collapse.[8] Its chairman Major (retired) Abdul Mannan, who is also the chairman of Sunman Group, embezzled money from the institution.[8] The chairman was a politician of Bangladesh Nationalist Party.[9] According to Bangladesh Bank, Manan had taken 8.6 billion taka from Bangladesh Industrial Finance Company Limited.[8] Manan blamed a conspiracy by "Chittagong-based conglomerate".[9] The percentage of loans defaulted at the Bangladesh Industrial Finance Company Limited stood at 96 percent in December 2017 with the company on the verge of liquidation.[9] Proshanta Kumar Halder had also embezzled five billion taka from Bangladesh Industrial Finance Company Limited.[10]
On 9 August 2019, Anti-Corruption Commission sued the former Chairman of Bangladesh Industrial Finance Company Limited, Abdul Mannan, for embezzlement.[11]
Bangladesh High Court appointed former Justice Moyeenul Islam Chowdhury as the chairman of the board and four independent board members.[11]
Bangladesh Industrial Finance Company Limited shares on the Dhaka Stock Exchange rose sharply despite being in the negative financially in 2022.[12] It suffered its sixth year of straight loses in 2022.[13] BASIC Bank Limited defaulted on its loan from Bangladesh Industrial Finance Company Limited.[14]
References
- ↑ Шаблон:Cite web
- ↑ Шаблон:Cite web
- ↑ Шаблон:Cite web
- ↑ Шаблон:Cite web
- ↑ Шаблон:Cite web
- ↑ Шаблон:Cite web
- ↑ 7,0 7,1 Шаблон:Cite web
- ↑ 8,0 8,1 8,2 8,3 8,4 8,5 8,6 Шаблон:Cite web
- ↑ 9,0 9,1 9,2 9,3 Шаблон:Cite web
- ↑ Шаблон:Cite web
- ↑ 11,0 11,1 Шаблон:Cite web
- ↑ Шаблон:Cite web
- ↑ Шаблон:Cite web
- ↑ Шаблон:Cite web
