Industrial and Infrastructure Development Finance Company Limited (IIDFC) is a non-bank financial institution in Bangladesh. Md Golam Sarwar Bhuiyan is the managing director of Industrial and Infrastructure Development Finance Company Limited. Financial scamster

Prashanta Kumar Halder Prashanta Kumar Halder, also known as PK Halder, is a Bangladeshi-Canadian banker, businessman and finance officer. He is known for embezzling of more than 102 billion taka ($854 million USD approximately as of 2024), one of the biggest cases in ...

was the deputy managing director of Industrial and Infrastructure Development Finance Company Limited in 2008.

History

Industrial and Infrastructure Development Finance Company Limited was established in 2000. Mohammed Matiul Islam, first finance secretary of Bangladesh, was the founding chairman. It received its license on 23 January 2001 from Bangladesh Bank. In February 2007, Investment Promotion Financing Facility became eligible to participate in the Investment Promotion Financing Facility organized by

International Development Association The International Development Association (IDA) () is a development finance institution which offers concessional loans and grant (money), grants to the world's poorest developing country, developing countries. The IDA is a member of the World ...

and

Bangladesh Bank Bangladesh Bank (BB; ) is the central bank of Bangladesh and is a member of the Asian Clearing Union. It is fully owned by the Bangladesh, Government of Bangladesh. The bank is active in developing green banking. and financial inclusion poli ...

, under governor Salehuddin Ahmed, asked it to float it's shares on the stock exchange. It led a syndicated loan for Charka Textile Limited, a subsidiary of

PRAN-RFL Group PRAN-RFL Group () is a Bangladeshi conglomerate, founded in 1981 by Amjad Khan Chowdhury. It is one of the largest conglomerates in Bangladesh Pran-RFL Group is headquartered in Dhaka, Bangladesh, and employs over 1,00,000 people worldwide ...

. It provided 1.93 billion BDT loan to BSRM Iron and Steel Co Limited, a subsidiary of

BSRM Group The Bangladesh Steel Re-Rolling Mills, Tradename: BSRM Steels Limited, commonly known as BSRM, is a Bangladeshi steel manufacturing company based in Chittagong. It is the largest construction steel manufacturer company in Bangladesh. History ...

. The deputy managing director of Industrial and Infrastructure Development Finance Company Limited Proshanta Kumar Halder was appointed the managing director of Reliance Finance in 2009. The Daily Star would later describe him as the ''Sultan of Swindle after he scammed 102 billion BDT'' from financial institutions. Another co-worker of Halder at Industrial and Infrastructure Development Finance Company Limited, Uzzal Kumar Nandi became chairman of

People's Leasing and Financial Services Limited People's, branded as ''People's ViennaLine'' until May 2018, and legally ''Altenrhein Luftfahrt GmbH'', is an Austro-Swiss airline headquartered in Vienna, Austria. It operates scheduled and charter passenger flights mainly from its base at St. ...

and helped Halder in his scams. In 2010, M Matiul Islam, chairman of Industrial and Infrastructure Development Finance Company Limited, signed a cooperation agreement with HP Kumar, chairman of National Small Industries Corporation, for technical support to establish an ICT village in Bangladesh. It was the issue manager of 1.1 billion BDT bonds of Bank Asia as approved by

Bangladesh Securities and Exchange Commission The Bangladesh Securities and Exchange Commission (BSEC) is the regulator of the capital market of Bangladesh, comprising Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE). The commission is a statutory body and attached to the Mini ...

. It worked with

World Bank The World Bank is an international financial institution that provides loans and Grant (money), grants to the governments of Least developed countries, low- and Developing country, middle-income countries for the purposes of economic development ...

to finance Hybrid Hoffman Kilns in Bangladesh. Bangladesh Bank fined Industrial and Infrastructure Development Finance Company Limited in 2022 relocating the Uttara branch without proper approval. On 5 January, Md. Ataur Rahman Prodhan, former managing director of

Sonali Bank Sonali Bank PLC (SBPLC) () is the biggest state-owned leading public commercial bank in Bangladesh. It is the largest bank in the country. Mohammad Muslim Chowdhury is the chairman of the Bank. History Sonali Bank was established in 1972 unde ...

, was appointed Chairman of Industrial and Infrastructure Development Finance Company Limited.

References

{{reflist Organisations based in Dhaka Bangladeshi companies established in 2000 Financial services companies of Bangladesh