The Islamic Corporation for the Development of the Private Sector Signs a Murabaha Facility with LankaBangla Finance Limited in Bangladesh

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The Islamic Corporation for the Development of the Private Sector (ICD), the member of the Islamic Development Bank (IDB) Group, has signed a Murabaha Facility of USD 20 Million with LankaBangla Finance Limited (LBFL) recently. This is the first time in Bangladesh that a NBFI is going to avail Shariah compliant foreign currency financing from ICD to build up the SME portfolio.

Mr. Ayman Amin Sejiny, Chief Executive Officer of ICD and Mr. Khwaja Shahriar,Managing Director & CEO of LankaBangla Finance Limited signed the facility agreement on behalf of their respective organizations.

During the signing event of this transaction, Mr. Md. Rafiqul Islam, Managing Director & CEO of Green Delta Capital Limited as the Lead Advisor and Security Agent, Mr. Ahmed Khalid, Regional Head, ICD-Kuala Lumpur, Mr. Quamrul Islam, Head of Treasury of LankaBangla Finance Limited along with other high officials from the respective organizations were also present.

Particulars 2019 2018
Long Term AA3 AA3
Short Term ST-2 ST-2
Outlook Stable Stable
  • AA3

    Very strong capacity
    Very high quality
    Very low credit risk

  • ST-2

    High grade
    Strong capacity
    Commendable liquidity

Rated by Credit Rating Agency of Bangladesh(CRAB)
Based on the Financials of the year ending December 31, 2018 Valid up to June 30 2021