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:
Position SABINCO as the leading Non-Bank Financial Institution in the country.
Mission:
- Provide superior customer service and competitive pricing.
- Strictly adhere to credit norms, exercise due diligence and ensure effective management of risk, and
- Prudence and efficiency as the guiding principles in carrying out business.
Objectives:
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.
Our Core Values:
- Responsibility and accountability
- Customer Focus
- Value Creation
- Team Work
- Transparency
- Trust and Respect
- Honesty and Integrity
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% |
The company has a six-member Board of Directors to which the Government of Saudi Arabia nominates the Chairman and two members, while the Deputy Chairman and two other members are nominated by the Government of Bangladesh.
Our Business:
- SABINCO has so far approved 153 ventures in various industrial sectors of the country.
- We have extended ‘wholesale financing’ to a leading financial institution and a leading NGO for reinvesting in the SME and micro finance sectors.
- Projects so far financed are in the various sectors viz. Agriculture, Cement, Electronics & Electrical, Food Production & Processing & Rice Mills, Glass & Ceramics, Iron Steel & Engineering, Pharmaceuticals & Chemicals, Power, Textiles, Telecom & IT, Wood, Furniture & Fixtures.
- Of 153 projects financed, 111 projects have already fully settled their loan liabilities. Thus, the total count of live projects is 42.
- As on 31 December 2023 total loan and investment stands as under:
Total Loan outstanding :Taka 3,685.95 million
Total Investments : Taka 386.08 million
Total Loan and Investments : Taka 4,072.03 million
