IPDC reappoints managing director for 4th time

IPDC Finance Limited has reappointed Mominul Islam as its managing director (MD) and CEO for a fourth time.

Mominul Islam has been leading the company as its MD and CEO since January 2012 and also been serving the role of Chairman of the Bangladesh Leasing and Finance Companies Association since February 2020.

Under his leadership, IPDC rolled out a five-year strategy plan in 2016 and achieved phenomenal success, with eight times asset growth and nine times liability growth, keeping nonperforming loans below 2%, the lowest among the listed NBFIs, said a press release.

Mominul Islam has successfully driven a technology-led business model for IPDC through his innovative projects plus catered to women, youth and underserved segments of the market. He was also awarded the Outstanding CEO Award by the Association of Development Financing Institution in Asia and the Pacific.

After joining IPDC in 2006, he worked as deputy managing director of the company from July 2008 to December 2011. He previously worked at American Express Bank and Standard Chartered Bank, with a career in different areas of the banks in: Bangladesh, Singapore, Hong Kong, India, and the United Kingdom. 

Mominul Islam, MD and CEO of IPDC Finance, stated, "I am ecstatic about continuing my journey with IPDC and feel even more humble and responsible now that IPDC is performing at its peak till date."

"On top of that, we are in the middle of an ongoing pandemic; so, obligations to stand beside our client, community and employees at this difficult time will be our key focus. I am grateful to the Board of IPDC as well as to the Bangladesh Bank for their trust, guidance and support," he added.

Mominul Islam completed his bachelor's degree at the Institute of Business Administration, University of Dhaka and Masters in Economics with Vice Chancellor Gold Medal from North South University; and holds a black belt in Six Sigma.

IPDC received the ADFIAP award in 2020 for its Supply Chain Finance project, because IPDC, in association with IBM, built South-East Asia's first ever Blockchain-based digital supply chain finance platform.

IPDC is regarded as one of the best and model non-banking financial institutions by stakeholders from both home and abroad. As a testimony, IPDC holds the highest possible rating of a AAA credit rating, won the Best Financial Institution award by the prestigious Bangladesh Business Awards and is the only Superbrand FI of the country, stated the press release.