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IFIC Securities Limited (IFICSL)
IFICSL is a member of DSE and holds both a stock broker and stock dealer license for buying, selling and settlement of securities on behalf of investors and for trading of securities in its own portfolio. IFICSL is a direct participant and the owner of a full participant DP license of CDBL. Despite the market recession impacting on its stakeholders, IFICSL has captured 1.50% of the total trade of DSE in the whole of 2014. Itís been four years since the debacle in 2010, although the market showed a mixed trend during this time, the overall trend has been negative. The turnover has been in decreasing trend for the last four years and the overall DSE turnover in 2014 has decreased by around 5% from previous year (2013). The DSE average daily turnover came down to 4 billion. Due to the market recession IFICSL has taken a very prudent approach in preparing its accounts and in light of the situation IFICSL has been maintaining a suspense account for its interest income from 2011. Despite such prudent measures IFICSL has managed to be a profitable organization throughout the capital market recession.
Directors Representing from the Board of IFIC Bank Ltd.:
Mr. Monirul Islam
Chairman
Mr. Anwaruzzaman Chowdhury
Director
Mr. Jalal Ahmed
Director
Mr. Mohammad Shah Alam Sarwar
Director
IFIC Money Transfer (UK) Limited
IFIC Money Transfer (UK) Limited, a fully owned subsidiary exchange company of IFIC Bank Limited was incorporated in UK and commenced its operation on 31st August 2011 to facilitate inward foreign remittance from United Kingdom. It was incorporated as a private company with Companies House of England and Wales under registration no. 07379137 on 16th September 2010. IFIC Bank Limited got permission from Bangladesh Bank for opening a fully owned subsidiary in UK. The Company (subsidiary) obtained Money Laundering registration on 17th January 2011 issued by HM Customs and Excise. The Company got registration from Financial Services Authority on 16th June 2011 under Payment Services Regulations 2009. It commenced operation on 31st August 2011. The Registered Office is located at Ferrari House, 2nd Floor, 102 College Road, Harrow, Middlesex, United Kingdom HAI IES, London, UK.
Directors Representing from the Board of IFIC Bank Ltd.:
Mr. Jalal Ahmed
Chairman
Mr. Anwaruzzaman Chowdhury
Director
Mr. Monirul Islam
Director
Mr. A.R.M. Nazmus Sakib
Director
Mr. M Shah Alam Sarwar
Director
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