Investment Corporation of Bangladesh (ICB) ( bn, বাংলাদেশ বিনিয়োগ সংস্থা) is a statutory corporation of

Government of the People's Republic of Bangladesh The Cabinet of Bangladesh ( bn, বাংলাদেশের মন্ত্রিসভা) is the chief executive body of the People's Republic of Bangladesh. The cabinet is the collective decision-making body of the entire government under ...

, established on 1 October 1976 under No. 40 of ''Investment Corporation of Bangladesh Ordinance, 1976''. It is mainly an

investment bank Investment is the dedication of money to purchase of an asset to attain an increase in value over a period of time. Investment requires a sacrifice of some present asset, such as time, money, or effort. In finance, the purpose of investing is ...

operating in

Bangladesh Bangladesh (}, ), officially the People's Republic of Bangladesh, is a country in South Asia. It is the eighth-most populous country in the world, with a population exceeding 165 million people in an area of . Bangladesh is among the mos ...

, 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 mar ...

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 ( /ˈtʃɪt əˌɡɒŋ/ ''chit-uh-gong''; ctg, চিটাং; bn, চিটাগং), officially Chattogram ( bn, চট্টগ্রাম), is the second-largest city in Bangladesh after Dhaka and third largest city in B ...

stock exchanges A stock exchange, securities exchange, or bourse is an exchange where stockbrokers and traders can buy and sell securities, such as shares of stock, bonds and other financial instruments. Stock exchanges may also provide facilities for the i ...

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 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 finance minister is an executive or cabinet position in charge of one or more of government finances, economic policy and financial regulation. A finance minister's portfolio has a large variety of names around the world, such as "treasury", " ...

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 ...

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 t ...

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 Illegal, or unlawful, typically describes something that is explicitly prohibited by law, or is otherwise forbidden by a state or other governing body. Illegal may also refer to: Law * Violation of law * Crime, the practice of breaking the ...

due to its issuance during the

military regime A military dictatorship is a dictatorship in which the military exerts complete or substantial control over political authority, and the dictator is often a high-ranked military officer. The reverse situation is to have civilian control of the m ...

(1975–1981). Therefore, this bill is aimed to replace the 'Investment Corporation of Bangladesh Ordinance, 1976'.

Milestones

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

Subsidiaries

Investment Corporation of Bangladesh Bill, 2014

Milestones

See also

References