Investment Corporation Of Bangladesh
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Investment Corporation of Bangladesh (ICB) () is a statutory corporation of
Government of the People's Republic of Bangladesh The Cabinet of Bangladesh () is the chief executive body in the People's Republic of Bangladesh. The cabinet is the collective decision-making body of the entire government normally under the Prime Minister's Office (Bangladesh), Office of the ...
, established on 1 October 1976 under No. 40 of ''Investment Corporation of Bangladesh Ordinance, 1976''. It is mainly an
investment bank Investment is traditionally defined as the "commitment of resources into something expected to gain value over time". If an investment involves money, then it can be defined as a "commitment of money to receive more money later". From a broade ...
operating in
Bangladesh Bangladesh, officially the People's Republic of Bangladesh, is a country in South Asia. It is the List of countries and dependencies by population, eighth-most populous country in the world and among the List of countries and dependencies by ...
, established to accelerate the pace of industrialization and to develop a sound
securities market Security market is a component of the wider financial market where securities can be bought and sold between subjects of the economy, on the basis of demand and supply. Security markets encompasses stock markets, bond markets and derivatives ma ...
in Bangladesh. ICB is one of the largest investors in share market of Bangladesh. Investing in share market, providing loans and advances, acting as manager/trustee/custodian of mutual funds are some of main activities of ICB. It's the most successful state-owned corporation of Bangladesh in terms of profitability. Classification of shareholders, as on 30 June 2013, shows that Government of the People's Republic of Bangladesh holds 27% of the shares of IC

and it is enlisted in Dhaka Stock Exchange, Dhaka and
Chittagong Chittagong ( ), officially Chattogram, (, ) (, or ) is the second-largest city in Bangladesh. Home to the Port of Chittagong, it is the busiest port in Bangladesh and the Bay of Bengal. The city is also the business capital of Bangladesh. It ...
stock exchanges A stock exchange, securities exchange, or bourse is an Exchange (organized market), exchange where stockbrokers and stock trader, traders can buy and sell security (finance), securities, such as share (finance), shares of stock, Bond (finance) ...
.


Subsidiaries

After twenty-four years of establishment, the company has brought reform in its strategy and policy for conducting commercial activities by forming and managing several
subsidiary companies A subsidiary, subsidiary company, or daughter company is a company completely or partially owned or controlled by another company, called the parent company or holding company, which has legal and financial control over the subsidiary company. Unl ...
under the ''Investment Corporation of Bangladesh (Amendment) Act, 2000'' (the Act No. 24 of 2000). The companies are: # ICB Capital Management Ltd. (ICML)

# ICB Asset Management Company Ltd. (IAMCL) #ICB Securities Trading Company Ltd. (ISTCL).


Investment Corporation of Bangladesh Bill, 2014

In July 2014, a bill titled ''Investment Corporation of Bangladesh Bill, 2014'' was placed by
Finance Minister A ministry of finance is a ministry or other government agency in charge of government finance, fiscal policy, and financial regulation. It is headed by a finance minister, an executive or cabinet position . A ministry of finance's portfoli ...
Abul Maal Abdul Muhith Abul Maal Abdul Muhith (25 January 1934 – 30 April 2022) was a Bangladeshi economist, writer, civil servant, secretary, diplomat and politician. He served as the finance minister of the government of Bangladesh from January 2009 until January ...
in
parliament In modern politics and history, a parliament is a legislative body of government. Generally, a modern parliament has three functions: Representation (politics), representing the Election#Suffrage, electorate, making laws, and overseeing ...
aiming to encourage investment in the country, develop the
capital market A capital market is a financial market in which long-term debt (over a year) or equity-backed securities are bought and sold, in contrast to a money market where short-term debt is bought and sold. Capital markets channel the wealth of savers ...
and collect savings. The move comes as the government looks to have a functional ICB ordinance in place after the ''Investment Corporation of Bangladesh Ordinance, 1976'' was declared illegal due to its issuance during the
military regime A military dictatorship, or a military regime, is a type of dictatorship in which power is held by one or more military officers. Military dictatorships are led by either a single military dictator, known as a strongman, or by a council of mi ...
(1975–1981). Therefore, this bill is aimed to replace the 'Investment Corporation of Bangladesh Ordinance, 1976'.


Milestones


See also

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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 ...
*
List of banks in Bangladesh The bank sector in Bangladesh consists of several types of institutions. Bangladesh Bank is the central bank of Bangladesh and the chief regulatory authority in the banking sector. According to the Bangladesh Bank Order, 1972 the Government of Ban ...
*
Dhaka Stock Exchange The Dhaka Stock Exchange (DSE) ( ''Dhaka stôk ekschenj''), located in Nikunja, Dhaka, is one of the two stock exchanges of Bangladesh, the other being the Chittagong Stock Exchange. In January 2023, DSE and Nasdaq announced their partnership ...
*
Chittagong Stock Exchange The Chittagong Stock Exchange () is a stock exchange based in the port city Chittagong, Bangladesh. It is one of the twin financial hubs of the country, alongside the Dhaka Stock Exchange. Established in 1995, the exchange is located in the A ...
*
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 ...


References

{{authority control Investment banks Financial services companies of Bangladesh Government corporations Government-owned companies of Bangladesh Financial services companies established in 1976 Banks established in 1976 Holding companies established in 1976 Investment in Bangladesh Bangladeshi companies established in 1976 Companies listed on the Dhaka Stock Exchange