Investment Corporation of Bangladesh

Investment Corporation of Bangladesh (ICB)

Type| Statutory corporation
Public

Traded as

| Template:Dse
Industry| Merchant banking, mutual fund, financial services, investment banking
Founded| 1976; 50 years ago (1976)
Headquarters| BDBL Bhaban, 8, Rajuk Avenue, Dhaka, Bangladesh

Key people

| Professor Abu Ahmed,[1] Chairman; Niranjan Chandra Debnath,FCMA; Managing Director
Services| Investment banking, Asset management, portfolio management[2]
Subsidiaries| ICB Capital Management Ltd.[1] (ICML), ICB Asset Management Company Ltd.(IAMCL), and ICB Securities Trading Company Ltd. (ISTCL)
Website| icb.gov.bd

Investment Corporation of Bangladesh (ICB) (Bengali: বাংলাদেশ বিনিয়োগ সংস্থা) is a statutory corporation of Government of the People's Republic of Bangladesh, established on 1 October 1976 under No. 40 of Investment Corporation of Bangladesh Ordinance, 1976. It is mainly an investment bank operating in Bangladesh, established to accelerate the pace of industrialization and to develop a sound securities market 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 ICB [2] and it is enlisted in Dhaka and Chittagong stock exchanges.

## Contents

* 1 Subsidiaries
* 2 Investment Corporation of Bangladesh Bill, 2014
* 3 Milestones
* 4 See also
* 5 References

## 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).[3]

The companies are:

1. ICB Capital Management Ltd. (ICML)[3]
2. ICB Asset Management Company Ltd. (IAMCL)
3. 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 Abul Maal Abdul Muhith in parliament aiming to encourage investment in the country, develop the capital market 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 due to its issuance during the military regime (1975–1981). Therefore, this bill is aimed to replace the 'Investment Corporation of Bangladesh Ordinance, 1976'.[4][5]

## Milestones

CL  | Milestones  | Date/establishment commencement

|
|

1  | Establishment of ICB  | 1 October 1976
2  | lnvestors' Scheme  | 13 June 1977
3  | ICB Chittagong Branch  | 1 April 1980
4  | First ICB Mutual Fund  | 25 April 1980
5  | ICB Unit Fund  | 10 April 1981
6  | ICB Rajshahi Branch  | 9 February 1984
7  | Second ICB Mutual Fund  | 17 June 1984
8  | Third ICB Mutual Fund  | 19 May 1985
9  | ICB Khulna Branch  | 10 September 1985
10  | ICB Sylhet Branch  | 15 December 1985
11  | Fourth ICB Mutual Fund  | 6 June 1986
12  | Fifth ICB Mutual Fund  | 8 June 1987
13  | Sixth ICB Mutual Fund  | 16 May 1988
14  | ICB Barisal Branch  | 31 May 1988
15  | ICB as the country's Nodal DFI in SADF  | 7 May 1992
16  | Seventh ICB Mutual Fund  | 30 June 1995
17  | Eighth ICB Mutual Fund  | 23 July 1996
18  | ICB Bogra Branch  | 6 October 1996
19  | ICB Local Office, Dhaka  | 15 April 1997
20  | Purchase of own Land with Building (Rajarbag)  | 11 December 1997
21  | Participation in Equity of SARF  | 16 January 1998
22  | Advance Against ICB Unit Certificates Scheme  | 12 October 1998
23  | Lease Financing Scheme  | 22 April 1999
24  | "The Investment Corporation of Bangladesh (Amendment)Act, 2000"  | 6 July 2000
25  | Registration of the three Subsidiary Companies with the Registrar of Joint Stock Companies and Firms  | 5 December 2000
26  | ICB Capital Management Ltd.[4] | 1 July 2002
27  | ICB Asset Management Company Ltd.  | 1 July 2002
28  | ICB Securities Trading Company Ltd.  | 13 August 2002
29  | Registration as a Trustee with SEC  | 20 August 2002
30  | Registration as a Custodian with SEC  | 20 August 2002
31  | Bank Guarantee Scheme  | 21 June 2003
32  | Advance Against ICB Mutual Fund/ICB AMCL Unit certificates scheme  | 21 June 2003
33  | Consumers Credit Scheme  | 15 February 2004
34  | Venture Capital Financing Scheme  | 26 April 2007
35  | Purchase of Land(Agargaon)  | 3 March 2008
36  | Commencement of management of Equity and Entrepreneurship Fund (EEF)  | 1 June 2009
37  | Launching of Tk. 50 Billion Bangladesh Fund  | 5 May 2011
38  | Finalization ICB's Building Design  | 12 April 2012
39  | New Centre for In-House Training  | 28 June 2013
40  | The Investment Corporation of Bangladesh-2014, Act Passed on parliament  | July 2014

## See also

* Bangladesh Bank
* List of banks in Bangladesh
* Dhaka Stock Exchange
* Chittagong Stock Exchange
* Bangladesh Securities and Exchange Commission

## References

1. ↑ "Professor Abu Ahmed new chairman of ICB". https://www.tbsnews.net/economy/corporates/professor-abu-ahmed-appointed-director-and-chairman-investment-corporation.
2. ↑ "Capital Market". http://www.bangladesh-bank.org/fnansys/capmarket.php.
3. ↑ National Encyclopedia of Bangladesh, Banglapedia. "Investment Corporation of Bangladesh". http://en.banglapedia.org/index.php?title=Investment_Corporation_of_Bangladesh.
4. ↑ "A new ordinance for ICB on way". The Daily Star. 4 July 2014. http://www.thedailystar.net/business/a-new-ordinance-for-icb-on-way-31672.
5. ↑ "Investment Corporation of Bangladesh Bill tabled". UNB. 1 September 2014. http://www.unb.com.bd/investment-corporation.

* v
* t
* e

Investment banks

Bank

Divisions of
universal banks|

| Bulge bracket|

* BofA Securities
* Barclays
* Citigroup
* Credit Suisse
* Deutsche Bank
* JP Morgan & Co (Cazenove)
* UBS Investment Bank (Securities)

|

Other|

* Banca IMI
* Berenberg Bank
* BMO Capital Markets
* BOC International
* BNP Paribas Corporate & Institutional Banking
* Brown Shipley
* CIBC World Markets
* CITIC
* CLSA
* Crédit Agricole Corporate & Investment Bank
* Daiwa Securities
* EverBank
* Harris Williams & Co.
* HSBC Global Banking & Markets
* ING Commercial Banking
* Is Investment
* KBC Bank
* Korea Development Bank
* Daewoo Securities
* Lloyds Bank Corporate Markets
* MUFJ Securities
* Mizuho
* Natixis
* NatWest Markets
* Nomura
* RBC Capital Markets
* Sberbank CIB
* Société Générale
* Standard Chartered
* TD Securities
* UniCredit
* VTB Capital
* Wells Fargo

Independents|

| Bulge bracket|

* Goldman Sachs
* Morgan Stanley

|

Other|

* Allen & Company
* Baird
* Blackstone
* Brewin Dolphin
* BTG Pactual
* Centerview Partners
* China International Capital Corporation
* Close Brothers Group
* China Everbright Group
* China Everbright Limited
* Everbright Securities
* Evercore Partners
* FBR Capital Markets
* Galaxy
* Greenhill & Co.
* Guosen Securities
* Guotai Junan
* Haitong Securities
* Houlihan Lokey
* Investec
* Jefferies Group
* Keefe, Bruyette & Woods
* Lazard
* Lincoln International
* Macquarie
* Mediobanca
* Moelis & Company
* Oppenheimer
* Pacific Securities
* Perella Weinberg Partners
* Piper Jaffray
* Raymond James Financial
* Renaissance Capital
* Roth Capital Partners
* Rothschild & Co
* Salam Investment
* Sandler O'Neill + Partners
* Stephens
* Stifel Nicolaus
* Stone Key Partners
* William Blair & Company

* Category
* List

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