Page 37 - IBT December 2020

financing overall from a low base. enterprises. This is a profitable
However, its impact and business where non-performing
effectiveness could be enhanced loans are very low at 3.13%.
by reviewing past and present
financing schemes and A CREATIVE AND
institutions.The Bangladesh Bank COMPREHENSIVE
should refocus its attention on POLICY APPROACH
the most constrained among the There can be multiple creative
MSMEs. In addition, the approaches that can be induced by
Bangladesh Bank’s policy policymakers. For example,
emphasis on banks does not encouraging Kiosk based
appear to be fully internalized. (self-service or assisted
Indeed, the banks’ response can self-service) Service Delivery
best be characterized as one of Centers for rural/unbanked
passive compliance.The reasons populations to expand financial
appear to be based on persistent inclusion, implementing a
underlying financial comprehensive plan to improve
infrastructure weaknesses and interoperability of technology
banks’ risk perceptions. finance them all. IDLC has always platforms among central bank,
been keen to commit its resources election commission, NBR, and
IDLC has always been society through various business ENSURING HEALTH not only to maximize its own others. Regulators can also
AND WELLBEING
profitability, but also to offer better
encourage direct connectivity
efforts. Winning this award for
keen to commit its the third time in a row reiterates The key strengths of IDLC is its quality of life to both its internal among technology platform of
resources not only to their merchant bank’s continued open and transparent governance, and external stakeholder groups. banks and NBFI for faster and
Green Banking: IDLC promotes
customer’s trust and empowered
accountable online transactions.
leadership in the investment
maximize its own banking landscape of the country. workforce. Their team members sustainable business practices
profitability, but also to IDLC has recently launched the are some of the best in the bunch. among its stakeholder groups, IDLC FINANCING
HAPPINESS
especially its clients and
IDLC has a very robust process in
IPO of Robi Axiata Limited, with
offer better quality of an issue size of BDT 5,237 million place that allows them to be employees. As part of sustainable IDLC works with the slogan
life to both its internal which is the biggest ever IPO in faster and better. They are also business practices, IDLC is "Financing Happiness". They
committed to contribute towards
introducing technology at a faster
Bangladesh and also launched the
believe in contributing to the
and external IPO of Mir Akhter Hossain Limited rate with the aim to provide the greater environmental and social grassroots for a greater change in
stakeholder groups. with an issue size of BDT 1,250 best service to customers. sustainability by undertaking society. To create a long-term
million. During this unprecedented time, various initiatives. these kitchen market vegetable impact on society, IDLC takes on
the primary focus of IDLC was Women Empowerment: IDLC has retailers do not have access to issues related to health, the
MSME: THE ENGINE ensuring health and wellbeing of introduced a comprehensive formal credit mainly due to lack of environment, and education. They
THE AWARD-WINNING OF AN ECONOMY its employees as well as its package for women empowerment proper documents and financial feel that these three sectors have
INTEGRITY OF IDLC Small and Medium Enterprises customers without hampering its in 2008 titled ‘Women records. To fulfil their financial the capability to mold society's
COPING THROUGH INVESTMENTS (SME) are put in the frontline of business. Keeping that in mind, Entrepreneur Loan’. This product needs, they avail loans from local future as they leave a long-lasting
THE CRISIS IDLC Investments is one of the key an economy as they carry out the they introduced a digital platform not only offers loan facility with lenders at a very high interest rate, impact. One of the recent examples
Many of the non-banking performing subsidiaries of IDLC connotation of “the engine of an for deposit collection to safeguard lower interest rates it also which is deterrent to their business is the project of boat ambulance in
facilitates the women in obtaining
financial institutions are Finance Limited. They assist their economy”. Being an intrinsically their liquidity to ensure regulatory documents and licenses growth. The objective of this Rangabali which was launched in
struggling with their clients throughout the IPO process, challenging sector, it brings a organizational stability during essential to conduct a business. initiative is to contribute to the January 2020. The ambulance was
profitability. Not only NBFI’s, along with sustained market support chunk of unbanked people under this crisis period. Corporate Social Responsibility: growth of this section by meeting designed by the foundation as
the whole economy is suffering and enable fast and easy portfolio the financial inclusion net by People have grown the Community development has their financial needs. well. In a 26-foot long and
due to this pandemic. Almost management for individuals to ease creating job opportunities. consciousness that now is the always been an integral part of Affordable Home loan: Affordable eight-foot-wide boat ambulance,
every business organization them into the capital market. Access to formal finance by time to consider saving up for IDLC. Their CSR initiatives are housing refers to housing units they managed to keep a space for
was closed for a long period of IDLC Investments has been awarded MSMEs in Bangladesh is limited unforeseen events. This pandemic focused on reducing inequalities in that are affordable by that section an emergency delivery.
time. This hampered the whole by Euromoney for its ability to adapt compared to the average for the has been a jarring wake-up call. the society through investing in of society whose income is below Another project is named Oditiya.
economy. IDLC has managed to and tailor its offerings in adverse South Asia region. Despite CASTING A WIDER education, health, livelihood the median household income. In this project, they offer
overcome this quite well conditions, superior financial significant knowledge gaps, FINANCIAL NET development and environmental IDLC’s Affordable Home Loan scholarships to underprivileged
because of enough liquidity performance compared to peers, MSMEs are undoubtedly the challenges. provides housing loans for the low women who are the first in their
and timely prudential unique deals, its legacy of delivering backbone of non-farm job creation Being a financial institution IDLC Financial Inclusion of Unbanked and middle income (monthly families to reach the honors level
investment strategies. tailored and innovative solutions to in Bangladesh. A study prepared takes care of most of the Population: In 2019, IDLC Finance income within the upper ceiling of of education. They collaborate with
Depositor’s trust has also local and international clients across by the World Bank Group and the financing needs of their created access to finance for about BDT 60,000) households, a a vernacular Bangladeshi daily and
played a vital role here. IDLC a range of products and services. Policy Research Institute of customers, from large 450 Kitchen Market Vegetable currently untapped segment in the Asian University for Women for the
has a long reputation for good IDLC’s strength lies in its adaptability Bangladesh (PRI) showed that the corporations who want to set up a Retailers as part of its vision of country’s housing finance sector. project. They bear the educational
governance, compliance, and to change and also its commitment to Bangladesh Bank’s efforts appear large factory to small businesses financial inclusion. Traditionally, MSME: IDLC has invested 46% of expenses of the women at the
experience of thirty-five years. creating a lasting impact on the to have increased MSME requiring working capital, they its portfolio in small and medium honors level.

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