The Bangladesh Infrastructure Finance Fund Limited, or BIFFL, was incorporated by the Ministry of Finance in 2011 to provide long-term financing in local currency to infrastructure projects that meet BIFFL’s investment criteria. BIFFL seeks to attract investment from both institutional and retail investors (including non-resident Bangladeshis and overseas foreign workers) to provide an alternative savings/investment vehicle in the Bangladesh market. BIFFL is managed independently following objective investment criteria. Thursday, August 25, 2011
Govt sets up company for infrastructure fund
The government has established the largest ever finance company with a Tk 1,600 crore ($217 million) paid-up capital to fund infrastructure projects. Authorised capital of the company titled Bangladesh Infrastructure Finance Fund Ltd (BIFFL) is Tk 10,000 crore ($1.5 billion), which is also the highest in Bangladesh. Grameenphone is the second biggest company with a Tk 1,350.30 crore paid-up capital followed by Islami Bank with Tk 1,000 crore. "We have applied to the Bangladesh Bank to issue the BIFFL a licence as a non-bank financial institution," said Mohammad Muslim Chowdhury, director and acting chief...