Bangladesh Infrastructure Finance Fund
Bangladesh Infrastructure Finance Fund Limited (BIFFL) is a newly established public limited company which envisages to attract private investments from local and foreign investors and to invest in companies that are implementing infrastructure projects in Bangladesh. The Government of the People’s Republic of Bangladesh has already provided BDT 16 Billion (USD 220 mill) to this company as initial equity capital and has taken 100% ownership of the company. But it is expected that the company will go for equity offering to the local and foreign private investors and in this process will arrive at a unique ownership mix between Government and private investors. Currently, the Board of Directors of the company is drawn from the public sector.
BIFFL
The Bangladesh Infrastructure Finance Fund Limited, or BIFFL, was incorporated by the Ministry of Finance in 2011 to provide long-term financing in local currency to infrastructure projects that meet BIFFL’s investment criteria. BIFFL seeks to attract investment from both institutional and retail investors (including non-resident Bangladeshis and overseas foreign workers) to provide an alternative savings/investment vehicle in the Bangladesh market. BIFFL is managed independently following objective investment criteria.
Thursday, August 25, 2011
Business
Govt sets up company for infrastructure fund
Sajjadur Rahman
The government has established the largest ever finance company with a Tk 1,600 crore ($217 million) paid-up capital to fund infrastructure projects.
Authorised capital of the company titled Bangladesh Infrastructure Finance Fund Ltd (BIFFL) is Tk 10,000 crore ($1.5 billion), which is also the highest in Bangladesh.
Grameenphone is the second biggest company with a Tk 1,350.30 crore paid-up capital followed by Islami Bank with Tk 1,000 crore.
"We have applied to the Bangladesh Bank to issue the BIFFL a licence as a non-bank financial institution," said Mohammad Muslim Chowdhury, director and acting
BIFFL
The Bangladesh Infrastructure Finance Fund Limited, or BIFFL, was incorporated by the Ministry of Finance in 2011 to provide long-term financing in local currency to infrastructure projects that meet BIFFL’s investment criteria. BIFFL seeks to attract investment from both institutional and retail investors (including non-resident Bangladeshis and overseas foreign workers) to provide an alternative savings/investment vehicle in the Bangladesh market. BIFFL is managed independently following objective investment criteria.
Thursday, August 25, 2011
Business
Govt sets up company for infrastructure fund
Sajjadur Rahman
The government has established the largest ever finance company with a Tk 1,600 crore ($217 million) paid-up capital to fund infrastructure projects.
Authorised capital of the company titled Bangladesh Infrastructure Finance Fund Ltd (BIFFL) is Tk 10,000 crore ($1.5 billion), which is also the highest in Bangladesh.
Grameenphone is the second biggest company with a Tk 1,350.30 crore paid-up capital followed by Islami Bank with Tk 1,000 crore.
"We have applied to the Bangladesh Bank to issue the BIFFL a licence as a non-bank financial institution," said Mohammad Muslim Chowdhury, director and acting