Industrial and Infrastructure Development Finance Company Limited
{{Infobox organization
| name = Industrial and Infrastructure Development Finance Company Limited
| formation = 2000
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| alt = IIDFC
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| headquarters = Dhaka, Bangladesh
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| language = Bengali
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| website = {{URL|https://iidfc.com/}}
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| region_served = Bangladesh
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Industrial and Infrastructure Development Finance Company Limited (IIDFC) is a non-bank financial institution in Bangladesh. Md Golam Sarwar Bhuiyan is the managing director of Industrial and Infrastructure Development Finance Company Limited.{{Cite web |last=Afrin |first=Saudia |date=2024-05-26 |title=Driving economic growth |url=https://www.thedailystar.net/supplements/nbfi-insights/news/driving-economic-growth-3618821 |access-date=2024-09-14 |website=The Daily Star |language=en}}
Financial scamster Prashanta Kumar Halder was the deputy managing director of Industrial and Infrastructure Development Finance Company Limited in 2008.{{Cite web |date=2021-09-11 |title=Pk Halder’s Scam: 2 fake firms, Tk 118 crore shady loans |url=https://www.thedailystar.net/news/bangladesh/crime-justice/news/pk-halders-scam-2-fake-firms-tk-118-crore-shady-loans-2173031 |access-date=2024-09-14 |website=The Daily Star |language=en}}{{Cite web |last= |title=The extraordinary rise of PK Halder and the spectacular fall of firms he controlled |url=https://bdnews24.com/business/the-extraordinary-rise-of-pk-halder-and-the-spectacular-fall-of-firms-he-controlled |access-date=2024-09-14 |website=Bdnews24.com |language=en}}
History
Industrial and Infrastructure Development Finance Company Limited was established in 2000.{{Cite web |title=IIDFC |url=https://iidfc.com/about/glance |access-date=2024-09-14 |website=iidfc.com}} Mohammed Matiul Islam, first finance secretary of Bangladesh, was the founding chairman.{{Cite web |title=IIDFC |url=https://iidfc.com/about/founder-profile |access-date=2024-09-14 |website=iidfc.com}} It received its license on 23 January 2001 from Bangladesh Bank.{{Cite web |title=IIDFC: An NBFI that leads by example |url=https://businesspostbd.com/news/2022-03-20/iidfc-an-nbfi-that-leads-by-example-2022-03-20 |access-date=2024-09-14 |website=businesspostbd.com |language=en}}
In February 2007, Investment Promotion Financing Facility became eligible to participate in the Investment Promotion Financing Facility organized by International Development Association and Bangladesh Bank.{{Cite web |title=Bangladesh Bank, IIDFC sign deal |url=https://archive.thedailystar.net/2007/02/28/d70228050876.htm |access-date=2024-09-14 |website=The Daily Star}} Bangladesh Bank, under governor Salehuddin Ahmed, asked it to float it's shares on the stock exchange.{{Cite web |title=9 NBFIs to come under lens |url=https://archive.thedailystar.net/2007/08/14/d70814050160.htm |access-date=2024-09-14 |website=The Daily Star}} It led a syndicated loan for Charka Textile Limited, a subsidiary of PRAN-RFL Group.{{Cite web |date=2008-03-21 |title=Charka Textile to set up composite knitwear plant |url=https://www.thedailystar.net/news-detail-28709 |access-date=2024-09-14 |website=The Daily Star |language=en}} It provided 1.93 billion BDT loan to BSRM Iron and Steel Co Limited, a subsidiary of BSRM Group.{{Cite web |last=Khan |first=Kawsar |date=2008-09-19 |title=BSRM embarks on billet-making project |url=https://www.thedailystar.net/news-detail-55486 |access-date=2024-09-14 |website=The Daily Star |language=en}}
The deputy managing director of Industrial and Infrastructure Development Finance Company Limited Proshanta Kumar Halder was appointed the managing director of Reliance Finance in 2009.{{Cite news |title=The extraordinary rise of PK Halder and the spectacular fall of firms he controlled |url=https://bdnews24.com/business/the-extraordinary-rise-of-pk-halder-and-the-spectacular-fall-of-firms-he-controlled |access-date=2022-10-11 |work=bdnews24.com |language=en}}{{Cite web |last=Khan |first=Mahbubur Rahman |date=2020-09-27 |title=From the Archives: So far Tk 10,200cr swindled by PK Halder |url=https://www.thedailystar.net/frontpage/news/swindle-pk-halder-so-far-it-tk-10200cr-1968125 |access-date=2024-09-14 |website=The Daily Star |language=en}} The Daily Star would later describe him as the Sultan of Swindle after he scammed 102 billion BDT from financial institutions.{{Cite web |last=Khan |first=Mahbubur Rahman |date=2022-05-21 |title=Unrestrained, PK Halder became the sultan of swindle |url=https://www.thedailystar.net/weekend-read/news/unrestrained-pk-halder-became-the-sultan-swindle-3028326 |access-date=2024-09-14 |website=The Daily Star |language=en}}{{Cite web |last=Khan |first=Mahbubur Rahman |date=2020-08-23 |title=Sultan of swindle |url=https://www.thedailystar.net/frontpage/news/sultan-swindle-1949341 |access-date=2024-09-14 |website=The Daily Star |language=en}} Another co-worker of Halder at Industrial and Infrastructure Development Finance Company Limited, Uzzal Kumar Nandi became chairman of People's Leasing and Financial Services Limited and helped Halder in his scams.{{Cite web |last=Khan |first=Mahbubur Rahman |last2=Uddin |first2=AKM Zamir |date=2021-02-18 |title=With a little help from his friends! |url=https://www.thedailystar.net/frontpage/news/little-help-his-friends-2046697 |access-date=2024-09-14 |website=The Daily Star |language=en}}
In 2010, M Matiul Islam, chairman of Industrial and Infrastructure Development Finance Company Limited, signed a cooperation agreement with HP Kumar, chairman of National Small Industries Corporation, for technical support to establish an ICT village in Bangladesh.{{Cite web |date=2010-03-31 |title=IIDFC signs deal with Indian company over ICT village |url=https://www.thedailystar.net/news-detail-132323 |access-date=2024-09-14 |website=The Daily Star |language=en}} It was the issue manager of 1.1 billion BDT bonds of Bank Asia as approved by Bangladesh Securities and Exchange Commission.{{Cite web |date=2012-02-29 |title=SEC fines 6 individuals, 4 institutions |url=https://www.thedailystar.net/news-detail-224292 |access-date=2024-09-14 |website=The Daily Star |language=en}} It worked with World Bank to finance Hybrid Hoffman Kilns in Bangladesh.{{Cite web |title=Infrastructure Development Company Limited (IDCOL) |url=https://idcol.org/home/kilns |access-date=2024-09-14 |website=idcol.org}}{{Cite web |last=sarwar |date=2022-04-18 |title=IIDFC awards five brick kilns with Tk 2.87 crore in carbon credit |url=https://cpd-power-energy-study.com/iidfc-awards-five-brick-kilns-with-tk-2-87-crore-in-carbon-credit/ |access-date=2024-09-14 |website=CPD Power and Energy Study |language=en-US}}
Bangladesh Bank fined Industrial and Infrastructure Development Finance Company Limited in 2022 relocating the Uttara branch without proper approval.{{Cite web |last=Uddin |first=AKM Zamir |date=2022-06-19 |title=IIDFC fined Tk 31 lakh |url=https://www.thedailystar.net/business/organisation-news/news/iidfc-fined-tk-31-lakh-3050751 |access-date=2024-09-14 |website=The Daily Star |language=en}} On 5 January, Md. Ataur Rahman Prodhan, former managing director of Sonali Bank, was appointed Chairman of Industrial and Infrastructure Development Finance Company Limited.{{Cite news |date=5 January 2022 |title=Ataur made IIDFC chairman |url=https://www.newagebd.net/article/159186/ataur-made-iidfc-chairman |access-date=14 September 2024 |work=New Age}}{{Cite web |title=Sonali Bank MD & CEO Prodhan elected Chairman of IIDFC |url=https://bangladeshpost.net/posts/sonali-bank-md-ceo-prodhan-elected-chairman-of-iidfc-76647 |access-date=2024-09-14 |website=bangladeshpost.net |language=en}}