Milestones in the development of IFIC Bank Ltd.

1976- Established as an Investment & Finance Company under arrangement of joint venture with
the govt. of Bangladesh.

1982- Obtained permission from the Govt. to operate as a commercial bank. Set up a its first
overseas joint venture (Bank of Maldives Limited) in the Republic of Maldives (IFICs share in
Bank of Maldives Limited was subsequently sold to Maldives Govt. in 1992)

1983- Commenced operation as a full-fledged commercial bank in Bangladesh.

1985- Set up a joint venture Exchange Company in the Sultanate of Oman, titled Oman
Bangladesh Exchange Company (subsequently renamed as Oman International Exchange, LLC).

1987- Set up its first overseas branch in Pakistan at Karachi.

1993- Set up its second overseas branch in Pakistan at Lahore.

1994- Set up its first joint venture in Nepal for banking operation, titled Nepal Bangladesh Bank
Ltd.

1999- Set up its second joint venture in Nepal for lease financing, titled Nepal Bangladesh
Finance & leasing Co. Ltd. (which was merged with NBBL in 2008)

Overseas Branches in Pakistan amalgamated with NDLC, to establish a joint venture bank:
NDLC-IFIC Bank Ltd. subsequently renamed as NIB Bank Ltd.

2005-Acquired MISYS solution for real time on-line banking application. Core Risk
Management implemented.

2006-Corporate Branding introduced. Visa Principal and Plus (Issuer and Require) Program
Participant Membership obtained.

2009-Observing 25th Anniversary of Customer Satisfaction.

2010-64 Branches offering Real Time On-line banking facility.

2011-This year is a very significant year for the national and international economy.

Joint Ventures in Abroad

Bank of Maldives Limited

NIB Bank Ltd. Pakistan:

Nepal Bangladesh Bank Ltd. (NB Bank)

NepalBangladesh Finance & Leasing Limited (NB Finance):

Oman International Exchange LLC (OIE)

Missions & Vision of IFIC Bank Limited

The mission of IFIC Bank Ltd. is to provide service to clients with the help of a skilled and
dedicated workforce whose creative talents, innovative action and competitive edge make our
position unique in giving quality service to all institutions and individuals that we care for.

Mission

IFIC Banks Mission is to provide service to their clients with the help of a skilled and dedicated
workforce whose creative talents, innovative actions and competitive edge make their position
unique in giving quality service to all institutions and individuals that they care for.

IFIC Bank Limited is designed to provide commercial and investment banking services to all
types of customers ranging from small entrepreneurs to big business firms.

Besides the bank aims to provide different customer friendly deposit and loan products in the
field of personal banking to fulfill the banking needs of individual customers.

On delivery of quality service in all areas of banking activities with the aim to add increased
value to shareholders investment and offer highest possible benefits to their customers.

Vision

To be the best Private Commercial Bank in Bangladesh in terms of efficiency, capital adequacy,
asset quality, sound management and profitability having strong liquidity.

Objectives of the Bank

The objectives of the bank are to promote joint participation of Government and private sponsors
to establish joint venture banks, financial companies, branches and affiliates abroad to satisfy
their customers.

It conveys its objective via their motto: Youre Satisfaction First

To establish, maintain, carry on, transact, undertake and conduct all types of banking, financial,
investment and trust-business in Bangladesh and abroad.

To form, establish and organize any bank, company, institution or organization, singly and/or in
joint-collaboration for partnership with any individual, company, financial institution, bank,
organization, or any Government and/or Government agency for- the purpose of carrying on
banking, financial, investment and trust business and/or any other business as provided hereafter.

To carry on any business relating to Wage Earners Scheme as may be allowed by Bangladesh
Bank from time to time including maintaining of Foreign Currency Accounts and any other
matter related thereto. To contract or negotiate all kinds of loan, and or assistance, private or
public, from any source, local or foreign, and to take all such steps as may be required to
complete such deals.

To take part in the formation, management, supervision or control of the business or operations
of any company or undertaking and for that purpose to render technical, managerial and
administrative services and act as administrator, manager and secretary.

To purchase, or otherwise acquire, undertake, the whole or any part of or any interest in the
business, goodwill, property, contract, agreement, right, private assets and liabilities of any other
company, bank, corporation, partnership, body person or persons carrying on, or having ceased
to carry on, any business which the company is authorized to carry on, upon such terms and may
be deemed expedient.

To encourage, sponsor and facilitate participation of private capital in financial, industrial or

commercial investments, shares and securities and in particular by providing finance in the form
of long, medium or short term loans or share participation by way of subscription to the promoter
shares or underwriting support or bridge finance loans and/or by any manner.

Strategies

IFIC Bank Ltd. mainly follows top down approach to take necessary decisions for the company.
Basically they follow the centralize strategy where the Head Office of the Bank control and
monitor all the activities of its branches. In case of marketing strategy they basically depend on
word of mouth as they are already well reputed for its long-term service in the banking
industry.

Products and Services of IFIC bank Ltd

IFIC Bank Ltd. offers various products and services. The bank has highly qualified professional
staffs that have the capacity to manage and meet all the requirements of the bank. Every account
is assigned to an account manager who personally takes care of it and is available for discussion
and inquiries, whether on writes, telephones or calls. Lets gives the diagram of product and
service.

Branch Network:

The bank covers by its activities all the important tracing and commercial centers of the country.
As on January 31, 2009 it has 70 branches within Bangladesh. But now it has 91 branches.

Branch Distribution of IFIC Bank Ltd in Different Districts in Bangladesh

All the important branches are equipped with computers in addition to the modern facilities,
logistics and professionally competent workforce.

Current Board of Directors:

Mr. Salman F Rahman-Honourable Chairman

Mr. Mohammad Lutfar Rahman-Honourable Director

Mr. Aminur Rahman Honourable Director

Mr. Syed Anisul HuqHonourable Director

Mr. Mohammed Nayem Syed-Honourable Director

Mr. Anwaruzzaman Chowdhury-Honourable Director

Mr. Monirul IslamHonourable Director

Mr. Mahmudul Huq Bhuiyan-Honourable Director

Mr. Arastoo Khan.Honourable Director

Mr. Syed Monjurul IslamHonourable Director

Mr. Mohammad Ali Khan. Honourable Director

Management Hierarchy

Management Hierarchy are given below

Managing Director
Senior Executive Vice President
Corporate Information
Executive Vice Presidents
Senior
Name of Vice
thePresident
company Auditors
First Vice President
International Finance Investment and Howladar Yunus & Co.Chartered
Vice Presidents
Commerce Bank Limited (IFIC) Accountants
Senior Assistant Vice President
Legal Form Legal Advisors
First Assistant Vice President
IFIC BankVice
Assistant Ltd.was incorporated in
President Mr.Ahsanul Karim
Bangladesh and registered with the
Senior Staff Officers
Registrar of Joint Stock Companies and Tax Consultants
Senior
Firms asOfficers
a public Company limited by
Officer
shares. Grade- 1
Officers Grade- 2
Junior Officers
 Adil & Associates

Company Registration Number Credit Rating Agency

4967,Date October 08,1976 Credit Rating Information and Service Ltd.

Authorized Capital Name of the Chairman

TK.1600 million Mohammad Lutfar Rahman

Paid up Capital Name of Managing Director

TK.1,341million Mosharraf Hossain

Listing Status Name of CFO

Listed with Dhaka Stock Exchange Ltd. Mohammad Abdulllah

(DSE) and Chittagong Stock Exchange Ltd.
(CSE in 1986 and 1995 respectively. Name of Company Secretary

A.K.M.Mozharul Hoque

Market Category No. of Employees

A Category 2,110

Tax payer Identification number (Tin) No.of Branches

210-200-0537,LTU,Dhaka 74

VAT Registration Number 9021077014 No.ofSMEServiceCenter -2

Registered Office No.of Shareholders

BSB Bhaban (17th ,18th & 19th floor)8 Rajuk 31,915

Avenue,Dhaka
Investor Relatio

General Banking Section

Issuing of power of attorney to the officers of the Branches.

Maintaining general correspondence with Bangladesh Bank and other Banks etc.
Head Office Accounts

Income, Expenditure Posting:

Cash Section.

Bill Section.

Salary wages of the employees.

Maintenance of employee provident fund.

Consolidation of Branchs Accounts

All branches periodically (especially monthly) send their income & expenditure i.e., profit and
loss accounts and head office made the consolidated statement of income and expenditure of
IFIC Bank Limited. Here Branch statements are reviewed and prepares financial statements and
submits to Bangladesh Bank.

Credit Division

The main function of this division is managing IFIC Banks credit portfolio. Major functions are
the followings:

Receiving proposal

Appraising the proposals

Getting approval from the head office credit committee.

Communication with the customer and sanctioning the credit.

Monitoring and follow-up of the credit facilities

Setting prices for credits and making it effective.

Prepares required statements as made mandatory by the Bangladesh Bank.

International Division

The objective of this division is to assist the management to make international dealing decisions
and guide Branches to implement the decisions made. Its functional areas are follows-

Maintaining correspondence relationship.

Monitoring foreign trade & exchange dealings.

Maintaining accounts and reconciliation;

Authorizing of signature and test key;

Monitoring Foreign Exchange returns &statement;

Sending updated exchange rates to concerned branches.

Marketing Division
IFIC Profile
International Finance Investment and Commerce Bank Limited (IFIC Bank) is banking company incorporated in
the Peoples Republic of Bangladesh with limited liability. It was set up at the instance of the Government in
1976 as a joint venture between the Government of Bangladesh and sponsors in the private sector with the
objective of working as a finance company within the country and setting up joint venture banks/financial
institutions aboard. In 1983 when the Government allowed banks in the private sector, IFIC was converted into a
full fledged commercial bank. The Government of the Peoples Republic of Bangladesh now holds 32.75% of the
share capital of the Bank. Directors and Sponsors having vast experience in the field of trade and commerce own
11.31% of the share capital and the rest is held by the general public.

Mission

Our Mission is to provide service to our clients with the help of a skilled and dedicated workforce whose creative
talents, innovative actions and competitive edge make our position unique in giving quality service to all
institutions and individuals that we care for.

We are committed to the welfare and economic prosperity of the people and the community, for we derive from
them our inspiration and drive for onward progress to prosperity.

We want to be the leader among banks in Bangladesh and make our indelible mark as an active partner in
regional banking operating beyond the national boundary.

In an intensely competitive and complex financial and business environment, we particularly focus on growth and
profitability of all concerned.

Vision

At IFIC, we want to be the preferred financial service provider through innovative, sustainable and inclusive
growth and deliver the best in class value to all stakeholders.
Remittance Arrangement

Sl. No. Exchange House

01. IFIC Money Transfer (UK) Ltd
02. Oman International Exchange LLC, Oman
03. Placid N. K. Corporation, USA (Global)
04. Multinet Trust Exchange LLC, UAE
05. Al-Fardan Exchange, UAE
06. Coinstar Money Transfer Ltd., UK (Global)
07.

08. Xpress Money Services Ltd., UK (Global)

09. Trans-Fast Remittance LLC
History

International Finance Investment and Commerce Bank Limited (IFIC Bank) is banking company
incorporated in the Peoples Republic of Bangladesh with limited liability. It was set up at the
instance of the Government in 1976 as a joint venture between the Government of Bangladesh
and sponsors in the private sector with the objective of working as a finance company within the
country and setting up joint venture banks/financial institutions abroad. In 1983 when the
Government allowed banks in the private sector, IFIC was converted into a full-fledged
commercial bank. The Government of the Peoples Republic of Bangladesh now holds 32.75%
of the share capital of the Bank. Directors and Sponsors own 11.31% of the share capital and the
rest is held by the general public