Something about Investment Corporation of Bangladesh (ICB)

Here I want to present some basic data about the Investment Corporation of Bangladesh (ICB). These date are collected by me for a request work. From that data I want to put some information regarding ICB.
In order to stimulate rapid economic growth of a country particularly through industrialization and by mobilizing domestic savings, appropriate institutions in the capital market are essential Government undertook different measures in economic policy in 1976. In Bangladesh, a major steps in a series of measures undertaken by the Government to accelerate the pace of industrialization and develop a well organized and vibrant capital market.
ICB acts as a catalytic agent to encourage and broaden the base of investment, develop the capital market, mobilize savings and provide assistance in matters ancillary there to. Keeping these objectives in view, the ICB acts on commercial consideration with due regard to the interest of industry and commerce, investment climate, capital market, the investor and the public in general. It caters to the need of institutional support to meet the equity gap of industrial enterprises.
ICB is also playing a leading role in the stock exchange. Since inception, ICB had been helping to ensure a healthy and well organized secondary market. ICB provides also investment counsel to issuer’s and investors and participates in Government disinvestment program, finance in joint venture projects, etc.
Objectives:
• To encourage and broaden the base of investments.
• To develop the capital market.
• To mobilize savings.
• To promote and establish subsidiaries for business development.
• To provide for matters ancillary thereto.

Business Policy:
• To act on commercial consideration with due regard to the interest of industry, commerce, depositors, investors and to the public in general.
• To provide financial assistance to projects subject to their economic and commercial viability.
• To arrange consortium of financial institutions including merchant banks to provide equity support to projects and thereby spread the risk of underwriting.
• To develop and encourage entrepreneurs.
• To diversify investments.
• To induce small and medium savers for investment in securities.
• To create employment.
• To encourage Investment in IT sector.
• To encourage Investment in joint venture capital/project.
Basic Functions:
• Underwriting of initial public offering of shares and debentures.
• Underwriting of right issue of shares.
• Direct purchase of shares and debentures including placement and equity participation.
• Providing lease finance singly or by forming syndicate.
• Managing Investor’s Accounts.
• Managing Mutual Funds and Unit fund.
• Operating on the stock exchanges.
• Providing investment counsel to issuers and investors.
• Participating in government divestment program.
• Participating in and financing of joint-venture projects.
• Introducing new business products suiting market demand.
• Dealing in other matters related to capital market operations.
Hope the above information will be helpful for you.:))