- Saudi-Bangladesh Industrial & Agricultural Investment Company Limited (SABINCO)
Category: Business Groups & Companies
SABINCO, elaboration Saudi-Bangladesh Industrial & Agricultural Investment Company Limited, is a Development Financial Institution (DFI) and Investment Company in Bangladesh established by the joint initiative of the Saudi Arabia and Bangladesh Government. The Company reveals brotherly ties and close economic relationship of the two countries.
It was incorporated under the Bangladesh Companies Act 1913 on June 24, 1984. In 1993, it obtained license from Bangladesh Bank to promote its function as a Non-Banking Financial Institution in Bangladesh. The Company’s total paid up capital is US$ 60 million. Afterwards, SABINCO started its formal journey in 1986. Both the countries hold equal – Saudi Arab (50%) and Bangladesh (50%) – share of the Company. The head-quarter of SABINCO is situated in Dhaka, Bangladesh.
Saudi-Bangladesh Industrial & Agricultural Investment Company Limited has been playing significant role in Bangladesh economy. SABINCO has massive investment in various projects of agro-based, infrastructure and industrial sector. The Company is currently expanding its funds in telecom, pharma, power, etc. It has created more than 10,000 jobs in the country. The affairs of SABINCO are governed by a Board of Directors consists of six (6) members of whom the Government of Saudi Arabia nominates the Chairman and two (2) members, and Deputy Chairman and two (2) other members are nominated by the Government of Bangladesh.
79, Nikunja-2, Dhaka-1229, Bangladesh
Telephone: +8802- 8900846--50 OR +8804478000581--85
Published Date: 09/12/2014