IPDC Finance MD, CEO Mominul Islam resigns

Mominul Islam, who served IPDC Finance as its managing director and CEO for over a decade, has decided to resign from the post to pursue a career outside the non-bank financial company.

"In a move that marks the end of an era, Mominul Islam, the visionary leader and MD and CEO of IPDC Finance, has decided to pursue his career outside IPDC, setting sail for new horizons from January 2024," the company said in a statement.

Islam joined IPDC in 2006 as head of operations and technology and ascended to the position of managing director and CEO in 2012.

Commenting on this, Islam said: "This has been an impactful journey with IPDC. I've had the privilege of collaborating with amazing colleagues, the most versatile board, and our loyal customers."

"Leaving behind a competent team to carry the legacy forward fills me with pride. I'll proudly remain a brand ambassador of IPDC, cherishing the memories created and successes forged during our time together," he added.

The company said his four-term reign as managing director propelled IPDC Finance to unprecedented heights.

"Under his stewardship, the organisation's balance sheet experienced tenfold growth while maintaining Non-Performing Loans (NPL) at an industry-low level putting the company as the market leader in terms of market valuation," the statement read.

According to the IPDC, Islam led the company through a transformation, turning it into one of the most innovative NBFIs.

During his tenure, the organisation launched South-East Asia's first ever blockchain-based digital supply chain financing platform 'Orjon', the country's first digital retailer financing platform 'Dana', the cardless, zero-interest consumer financing app 'IPDC EZ' and a country-wide affordable home loan product named 'Bhalo Basha Loan'.

From 2020 to 2022, Islam was the chairman of Bangladesh Leasing and Finance Companies Association. Currently, he is an executive committee member of Bangladesh Association of Publicly Listed Companies. He is also chairman of the Association of the Development Financial Institutions in the Asia and Pacific.

Before joining IPDC, Islam garnered experience at institutions such as the American Express Bank and Standard Chartered Bank, both in Bangladesh and abroad.