The US-based Sovereign Infrastructure Group (SIG) recently signed a memorandum of understanding (MoU) with BD Finance — a concern of Anwar Group — in what is set to be the largest foreign direct investment (FDI) effort by a financial institution in Bangladesh. 

The agreement was inked earlier this month in Washington for a project pipeline of more than $2 billion, to be invested in infrastructure projects in the next two years. If SIG maintains at least 4% shares in BD Finance during the term of the memorandum, the US firm will be guaranteed a seat on the board.

At present, BD Finance is being led by its Managing Director and CEO Kyser Hamid, who assumed the role in September last year. Before joining BD Finance, he served as the deputy managing director and head of Retail Business at IPDC Finance, where he played a strong role in making the financial institution AAA-rated. Kyser is also widely recognized as the man who transformed Brac Bank’s retail business.