Tuesday, 21 November 2017

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SABINCO at a Glance

Origin:

The Saudi-Bangladesh Industrial and Agricultural Investment Company Limited, popularly known as SABINCO, is a Development Financial Institution (DFI) and Investment Company. It was promoted under dual initiatives of the Government of the Kingdom of Saudi Arabia and the Government of the People's Republic of Bangladesh out of deep-rooted ties and close economic relationship of the two brotherly Muslim nations. The company was established under joint collaboration by a protocol signed between the two governments in 1984  with a view to making investments in the industrial and agro-industrial fields in Bangladesh. SABINCO was floated as a private limited company with the governments of Saudi Arabia and Bangladesh as the two Shareholders. It was incorporated under the Bangladesh Companies Act 1913 on 24th June 1984 with its headquarter at Dhaka. The company commenced operation in 1986. Subsequently, Bangladesh Bank granted license to SABINCO in 1993 under the Financial Institutions Act 1993 to operate as a Non-Banking Financial Institution.

Vision: Strive to establish itself as a premier institution in its category in the country.

Mission:

  • Employ prudence and efficiency as the guiding principles in carrying out our business.
  • Strictly adhere to credit norms, exercise due diligence and ensure effective management of risk, and
  • Provide superior customer service and competitive pricing.

Objectives: To Sabinco’s objectives are to make investments in the industrial and agro-based industrial fields in the People’s Republic of Bangladesh on commercial basis.

Shareholding:

Total paid up capital: US$ 60 million

Government of the Kingdom of Saudi Arabia

- 50%

Government of the People's Republic of Bangladesh

- 50%

Total

-100%