The project consists of a short-term loan (Working Capital Solutions, WCS) for up to US$50 million, consists of a mobilization of US$30 -US$40 million through IFC led B-Loan investments and IFC own investment of up to US10 – US$20 million in Dhaka Bank Limited (the "Bank" or "Dhaka Bank") to support the expansion of the USD denominated trade business of the Bank through its Offshore Banking Unit. This will be the first syndication for a Financial Institution in Bangladesh with commercial banks as investors, hence creating a market for international commercial banks to invest in syndicated loans to Banks in Bangladesh and enhancing the Bank’s access to finance.
i. Improved Access to Finance: The Project will increase access to finance for credit-constrained, export-oriented companies and SMEs to meet working capital requirements. It will also expand financial intermediation.
ii. Job Creation: IFC's investment will further support business growth and spur job creation in the SME and export-oriented segments.
iii. Boost Export Competitiveness: The project will help economic growth in Bangladesh by providing exporters with trade finance solutions to their working capital requirements and assist in payments for imports utilized. This, in turn, improves their working capital cycle, thereby providing a boost in exports.
Dhaka Bank commenced operations on April 06, 1995 and publicly listed in Dhaka and Chittagong Stock Exchanges. The Bank has total assets of $2.8 billion as of September 30, 2017.
Dhaka Bank has a diversified shareholding with 37.75% of shares owned by the general public, 22.49% by local institutions and 0.14% by foreign institutions as of December 2017. The remaining 39.62% of shares is held by the sponsors/directors.
S.M. Mahbubul Alam
Vice President, International Division, Dhaka Bank Limited
Telephone No.: 880258314419
Email Address: firstname.lastname@example.org
Office Address: 71, PuranaPaltan Lane, Dhaka
ACCOUNTABILITY MECHANISM OF IFC
The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/