Sustainable Finance

Sustainable Finance

Sustainable Finance includes identifying and recognizing a product/a project/an initiative belongs to green and other products of Agriculture, CMSME or Socially Responsible Financing Category linked to sustainability. It includes not only Green Tax on containing green finance policy, CSR, SRF (Socially Responsible Finance), agriculture and CMSME but also Sustainable Finance Policy including CSR Policy, Economic and Governance (Good Governance and Green Governance), Green Finance based on (i) Climate Change Mitigation (ii) Climate Change Adaptation (iii) Other Environmentally sustainable Implementations and Impact on Inclusive Sustainable Green Growth.


Green Banking

Green Banking activities includes five key work-streams - (i) Green Finance (ii) In-house green activities covering Carbon Footprint Measurements (iii) ESG (iv) Green Marketing/Awareness/Capacity Building (v) Reporting and disclosure on green issues. It is part of Sustainable Finance and could be one of the suitable opportunities to diversify the banks business. It is also sensible initiative to keep our environment better. IFIC Bank is committed to promote sustainable growth in the economy. We have launched several lending products, under "IFIC Green - Earth" which will support green/clean and efficient energy projects and programs, detailed as under:

Our Green practices

IFIC Bank has adopted strategy to reduce carbon footprint through energy savings, reduction of utilization of fossil fuels, other natural resources and reduction of greenhouse gas emission in the days to come. In order to Reducing Energy & Resource consumption from our office practices, we have taken following steps :

  • Green Office Guide has been introduced to create awareness on Green Banking activities & providing instructions about conserve energy, water, saving paper, etc.
  • Online banking system is a great way to reduce paper consumption. IFIC Bank has been one of the pioneers in introducing online Banking and it covers 657 Branches- Uposhakhas (including 25 Solar Powered Branches), 38 own ATMs (including 1 Solar Powered). Clients can get our various alternative deliver services such as online banking, mobile banking, internet banking & SMS banking, BACPS & BEFTN facility.
  • Energy saving lights is being used instead of traditional light
  • Internal communications are done through electronic mails
  • Introduced IP (Internet Protocol) Technology
  • E-recruitment system has started while hiring people and provides salary, bonus, salary statement & leave management through online.
  • Bank has established a Contact Centre (Call Centre) to provide improved and enhanced phone banking services to customers over phone. More customers will use Phone Banking services through the Contact Centre and not required to travel to the branches or use paper-based statements.

BB Support Fund

 

Sl No

Branch Name

Name of Refinance Scheme

Refinance amount

Borrower Name

BB received date

Tenure (years)

Rate of Interest paid to BB

Rate of Interest received from Customer

Remarks

1

Narayanganj Branch

Green Industry

      200.00

Plummy Fashions

27.12.2015

6

5.00%

8.00%

 

2

Narayanganj Branch

Fire Fighting

          9.91

Fuji Knitwears

29.11.2017

5

5.00%

8.00%

 

3

Principal Branch

Fire Fighting

        10.00

Fame Sweaters

26.06.2018

5

5.00%

8.50%

 

4

Principal Branch

Fire Fighting

        10.00

Poshmi Sweaters Ltd.

26.06.2018

5

5.00%

8.50%

 

5

Narayanganj Branch

Fire Fighting

          8.10

Knit Radix Ltd.

27.10.2019

4

5.00%

8.00%

 

6

Federation Branch

Green Building

          85.00

Cute Dress Industry Ltd.

26.07.2020

5

5.00%

8.50%

 

Green Earth

Green banking could be one of the suitable opportunities to diversify the banks business. It is also sensible initiative to keep our environment better. IFIC Bank is committed to promote sustainable growth in the economy. We have launched several lending products, under "IFIC Green - Earth" which will support green/clean and efficient energy projects and programs, detailed as under:

 

Product

Purpose

Loan Limit

Loan tenor

Domestic Bio-gas plant

For integrated cow (hybrid) raring & setting up of bio-gas plant.

Maximum BDT.4,50,000/-

Maximum 48 months

For setting up of bio-gas plant in existing cattle/poultry farm.

Maximum BDT.50,000/-

Commercial bio-gas plant

For setting up of bio-gas plant in existing cattle/poultry farm & produce electricity through gas generator.

Maximum BDT.15,00,000/-

Maximum 60 months

Vermincompost

To meet the financial needs for purchasing of 2 cows, vermin construction of shade and for other expenses to produce vermin compost fertilizer for own use/business purpose.

BDT. 2,90,000/- (including purchase of 2 cows)
BDT. 90,000/- (Excluding purchasing of cows)

Maximum 48 months

Finance for Brick Kiln Efficiency Improvement Projects

To setup HHK or equivalent technology plant.

Up to BDT.15,00,00,000/-

Maximum 84 months

Conversion of traditional FCK into Improved Zig Zag Brick Kiln

Up to BDT.10,00,00,000/-

Fire Fighting & Safety Equipment Loan

  • To purchase/reinstall of Fire Fighting/Fire Safety Equipments.
  • To construct/ repair/reconstruction of overhead and underground water reservoir/tanks.
  • To purchase/install water pumps, sprinkler etc.

Maximum BDT1,00,00,000/-

Maximum 60 months