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Bangladesh Bank, Manan had taken 8.6 billion taka from
Bangladesh Industrial Finance Company Limited. Manan blamed a conspiracy by "Chittagong-based conglomerate". 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. Proshanta Kumar Halder had also embezzled five billion taka from Bangladesh Industrial Finance Company Limited.
181:
In
November 2017, Bangladesh Industrial Finance Company Limited was on the verge of collapse. Its chairman Major (retired) Abdul Mannan, who is also the chairman of Sunman Group, embezzled money from the institution. The chairman was a politician of Bangladesh Nationalist Party. According to
191:
Bangladesh
Industrial Finance Company Limited shares on the Dhaka Stock Exchange rose sharply despite being in the negative financially in 2022. It suffered its sixth year of straight loses in 2022. BASIC Bank Limited defaulted on its loan from Bangladesh Industrial Finance Company Limited.
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From
December 2012 to December 2016, defaulted loans at Bangladesh Industrial Finance Company Limited jumped from 12 percent to 90 percent. In 2012 the company had 840 million loan and 2016 it was 7.8 billion taka.
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On 9 August 2019, Anti-Corruption
Commission sued the former Chairman of Bangladesh Industrial Finance Company Limited, Abdul Mannan, for embezzlement.
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The company is listed on the Dhaka Stock
Exchange. Bangladesh Industrial Finance Company Limited was one of four financial institutions targeted by
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The
Bangladesh High Court appointed former justice Moyeenul Islam Chowdhury as the chairman of the board and four independent board members.
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Bangladesh
Industrial Finance Company Limited was established on 10 August 1996. It is located in Police Plaza Concord, Gulshan.
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Bangladesh Bank appointed an observer in the board of directors of
Bangladesh Industrial Finance Company Limited in 2015.
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In 2014, Bangladesh
Industrial Finance Company Limited was declared a Z category stock on the Dhaka Stock Exchange.
134:. The company had given large loans that were not performing to Sunman Group subsidiaries, owned by Abdul Mannan.
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In 2021 the company got into financial trouble due to embezzlement by its former chairman
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473:"BB officials harboring financial thugs: HC says in full text of Dec 17 order"
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210:"Board of Directors – Bangladesh Industrial Finance Company Limited"
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383:"company profile – Bangladesh Industrial Finance Company Limited"
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Bangladesh Industrial Finance Company Limited was listed on the
501:"ACC files cases against 12 including ex-BIFC chairman"
551:"Scam-hit BIFC suffers losses for sixth straight year"
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577:"Troubled NBFIs render Tk 1,000cr bank loans sour"
330:"4 describe to court grief caused by PK Halder"
255:"6 NBFIs burdened with Tk6,916cr default loans"
305:"Interpol issues red notice against PK Halder"
143:People's Leasing and Financial Service Limited
527:"Shares of loss-making firms rise abnormally"
356:"Ex-Reliance Finance MD embezzled Tk 3,000cr"
230:"Sur Chowdhury denies corruption allegations"
121:Bangladesh Industrial Finance Company Limited
20:Bangladesh Industrial Finance Company Limited
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617:Financial services companies of Bangladesh
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612:Bangladeshi companies established in 1996
280:"Stock turnover soars to two-month high"
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354:Khan, Mahbubur Rahman (2020-08-14).
147:FAS Finance and Investment Limited
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417:"BIFC on the verge of collapse"
415:Alo, Jebun Nesa (2017-11-14).
125:non-bank financial institution
16:Non-bank financial institution
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607:Organisations based in Dhaka
575:Uddin, Zamir (2022-02-10).
525:Habib, Ahsan (2022-09-25).
447:Uddin, Zamir (2018-05-11).
58:; 28 years ago
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449:"BIFC faces liquidation"
151:Reliance Finance Limited
98:Moyeenul Islam Chowdhury
139:Proshanta Kumar Halder
259:The Business Standard
166:Dhaka Stock Exchange
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584:. Retrieved
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557:. 2022-09-15
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507:. 2019-08-09
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132:Abdul Mannan
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77:, Bangladesh
71:Headquarters
25:Company type
123:is a major
83:Area served
601:Categories
586:2022-10-11
561:2022-10-11
536:2022-10-11
511:2022-10-11
483:2022-10-11
458:2022-10-11
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196:References
100:(Chairman)
93:Key people
87:Bangladesh
168:in 2006.
37:Traded as
157:History
105:Website
61: (
53:Founded
45::
149:, and
110:bifcol
75:Dhaka
112:.com
63:1996
56:1996
47:BIFC
43:DSE
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Text is available under the Creative Commons Attribution-ShareAlike License. Additional terms may apply.