IFIC Bank PLC is a public limited banking company incorporated in the People's Republic of Bangladesh. Established in 1976 at the initiative of the Government, the Bank was originally formed as a joint venture between the Government of Bangladesh and private sector sponsors. Its initial objective was to operate as a finance company within the country and to establish joint venture banks or financial institutions abroad.
In 1983, following the Government’s decision to allow private sector banks, IFIC was transformed into a full-fledged commercial bank.
Currently, the Government of the People's Republic of Bangladesh (including its nominated Directors) holds 32.75% of the Bank’s share capital, while the remaining shares are held by both local and foreign institutions, as well as general shareholders. The Government is represented on the Board of Directors by two nominated members. The Board, as reconstituted by Bangladesh Bank, includes four Independent Directors drawn from diverse sectors, bringing with them extensive knowledge and experience.
1. Establish and maintain effective internal controls in alignment with laws, regulations, and bank policies. 2. Enhance controls, policies, and p...
