Bangladesh Finance wishes to be the best financial institution in 3 years: Kyser Hamid

As they will celebrate their Silver Jubilee after three years, Bangladesh Finance wants to be the best financial institution in the country, said Md Kyser Hamid, the Managing Director and CEO of the organisation.

Last Wednesday (December 22), Bangladesh Finance commemorated their 22nd founding anniversary. Hamid expressed his ambition during an interview over phone with the Business Insider Bangladesh on Thursday.

He also talked about his future plans, too.

“When we will celebrate our 25th founding anniversary, we are hopeful that the size of the balance sheet will be between Tk 7,500 crore to Tk 8,000 crore,” said Hamid.

“We are working towards that goal,” he added.

As he dwelt on Bangladesh Finance’s some of the accomplishments, he said all but a few of the 35 NBFIs had performed poorly, eroding people’s confidence in them. “Bangladesh Finance has successfully come out of that and has been able to gain the trust of the people. This is our great achievement.”

The financial entrepreneur said his company created a distinct trait. “We have launched Strong Brand Visibility, Transformation, New Logo and Islamic Wing. We are the first listed financial institution to have a conventional business as well as an Islamic wing,” he explained.

With this, Bangladesh Finance is competent to attract another swarm of clients who believe in Shariah based transactions.

“Our credit rating has come to ‘AA’. All but four or five have been ‘A’. In the case of corporate governance, we have been rendered accolades by two organisations. Bangladesh Finance has made its way into the top three. I think it’s a great achievement,” the MD-cum-CEO told Business Insider Bangladesh.

He said: “At this moment, we are raising funds of around Tk 2,000 crore from the market with bonds, preference shares and foreign funds.”

This is a new business for Bangladesh Finance. Structural Finance, Corporate Advisory, Issue Management, Trustee Business are some new ideas for his company to thrive, he pointed out.

“We are working on a $20 million green bond. The kind of focus and image that we are working on regarding SMEs and retail is not done by anyone other than two or three companies. Of the disbursements, we have done in the last one-year-and-a-half, 84 percent have been in retail, and genuine SMEs,” Hamid added.

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