LankaBangla Finance PLC
| Formation | 1997 |
|---|---|
| Headquarters | Dhaka, Bangladesh |
Official language | Bengali |
| Website | www |
LankaBangla Finance PLC. is a licensed non-banking financial company in Bangladesh.[1] Mohammad A. Moyeen is the chairman of LankaBangla Finance Limited.[2] Khwaja Shahriar is the CEO and managing director of LankaBangla Finance Limited.[3]
History[edit]
LankaBangla Finance Limited was established in 1997 as a non-banking financial institution by Vanik Incorporation Limited of Sri Lanka and some Bangladeshi investors.[4][5] It was originally named Vanik Bangladesh Limited but was renamed to LankaBangla Finance Limited in 2003.[5] Sampath Bank and One Bank Limited purchased shares in 2003.[5]
In 2005, LankaBangla Finance Limited launched LankaBangla Finance MasterCard replacing the old Vanik Card which was launched in 1998.[6] In May 2007, it provided a 10 per cent cash dividend.[7]
In 2010, the company was planning to go public with LankaBangla Securities Limited.[8] Mohammed Nasir Uddin Chowdhury was appointed managing director of LankaBangla Finance Limited on 4 December 2011.[9]
On 1 June 2017, Khwaja Shahriar was appointed managing director of LankaBangla Finance Limited.[10]
LankaBangla Finance Limited increased their profit by 14.35 per cent in 2019 despite the liquidity crises in the financial market of Bangladesh.[10] It received US$20 million from the Islamic Corporation for the Development of the Private Sector.[11] In June 2020, it declared a 12 per cent dividend.[12]
In 2022, LankaBangla Finance Limited signed memorandum of understanding with Rangs Limited.[13] It signed an agreement with Nagad in June.[14] LankaBangla Securities was the top stock broker for 16 years at Dhaka Stock Exchange and 15 years at the Chittagong Stock Exchange consecutively.[15] LankaBangla Securities Limited thanked chairman of Bangladesh Securities and Exchange Commission Shibli Rubayat-Ul-Islam for approving TradeXpress of LankaBangla, a broker hosted OMS.[16] It had 4.35 billion BDT in classified loans in 2022.[17] Government Pension Fund of Norway invested US$1.76 million in LankaBangla Finance.[18]
In 2023, LankaBangla Finance Limited signed an agreement with Trust Axiata Pay (TAP).[19]
Subsidiaries[edit]
- LankaBangla Securities Limited[20][21]
- LankaBangla Investments[10]
- LankaBangla Asset Management Company[10]
- LankaBangla Foundation[22]
Board of directors[edit]
| Name | Position | Nationality | Reference |
|---|---|---|---|
| Mohammad A. Moyeen | Chairman | Bangladeshi | [23] |
| I. W. Senanayake | Director | Sri Lankan | [23] |
| Nanda Fernando | Director | Sri Lankan | [23] |
| Mahbubul Anam | Director | Bangladeshi | [23] |
| Tahsinul Huque | Director | British | [23] |
| Aneesha Mahial Kundanmal | Director | Bangladeshi | [23] |
| Zaitun Sayef | Independent Director | Bangladeshi | [23] |
| M. Fakhrul Alam | Independent Director | Bangladeshi | [23] |
| Khwaja Shahriar | CEO and Managing Director | Bangladeshi | [23] |
References[edit]
- ^ "LankaBangla Securities celebrates 25-year anniversary". The Business Standard. 2022-12-03. Retrieved 2023-02-09.
- ^ "LankaBangla Finance celebrates 25 years of its glorious journey". The Daily Star. 2022-11-02. Retrieved 2023-02-09.
- ^ Parvez, Sohel (2023-02-05). "Raising fund thru bonds to cut costs of NBFIs". The Daily Star. Retrieved 2023-02-09.
- ^ "About Us". LankaBangla Finance Limited. Retrieved 2023-02-09.
- ^ a b c "Vanik Bangladesh now LankaBangla Finance". The Daily Star. Retrieved 2023-02-09.
- ^ "Vanik Card now LankaBangla MasterCard". The Daily Star. Retrieved 2023-02-09.
- ^ "LankaBangla Finance okays 10pc dividend". The Daily Star. Retrieved 2023-02-09.
- ^ Chowdhury, Sarwar A. (2010-02-17). "LankaBangla Securities plans to go public". The Daily Star. Retrieved 2023-02-09.
- ^ "LankaBangla Finance gets new MD". The Daily Star. 2011-12-04. Retrieved 2023-02-09.
- ^ a b c d Habib, Ahsan (2020-06-16). "LankaBangla Finance triumphs despite liquidity pressure". The Daily Star. Retrieved 2023-02-09.
- ^ "LankaBangla gets $20m from ICD". The Daily Star. 2019-01-28. Retrieved 2023-02-09.
- ^ Express, The Financial. "LankaBangla Finance declares 12pc dividend". The Financial Express. Retrieved 2023-02-09.
- ^ "LankaBangla Finance, Rangs Ltd sign MoU". The Daily Star. 2022-04-18. Retrieved 2023-02-09.
- ^ "LankaBangla, Nagad launches digital sales window for marginal people". The Daily Star. 2022-06-07. Retrieved 2023-02-09.
- ^ "LankaBangla Securities continues being top broker in DSE, CSE". The Daily Star. 2022-01-03. Retrieved 2023-02-09.
- ^ "LankaBangla Securities Chairman thanks BSEC for facilitating new online trading". The Daily Star. 2022-01-24. Retrieved 2023-02-09.
- ^ "Over 30pc loans of 13 NBFIs become defaulted". New Age. Retrieved 2023-02-09.
- ^ "Norway's govt fund reduces investments in capital market in 2021". New Age. Retrieved 2023-02-09.
- ^ "LankaBangla Finance inks deal with TAP to provide digital financial services". The Business Standard. 2023-02-09. Retrieved 2023-02-09.
- ^ "LankaBangla Securities to get indicative price next week". The Daily Star. 2010-07-27. Retrieved 2023-02-09.
- ^ "IUB to launch first ever university-level trading lab in Bangladesh". The Daily Star. 2022-06-15. Retrieved 2023-02-09.
- ^ "LankaBangla Foundation distributes winter blankets in Chowmuhani". The Business Standard. 2023-01-23. Retrieved 2023-02-09.
- ^ a b c d e f g h i "Board of Directors". LankaBangla Finance Limited. Retrieved 2023-02-09.
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