IPDC Finance appoints Rizwan Dawood Shams as new MD

IPDC Finance Ltd has announced Rizwan Dawood Shams as the new managing director (MD).

With this appointment, Shams will take on full leadership responsibilities of IPDC, leveraging his rich experience spanning over 20 years in various facets of the financial industry, reads a press release.

Shams has been working as the acting managing director of the company since January 2024. He joined the company in November 2007 and worked in different cross functional roles before being promoted as the first-ever additional managing director of the company in April 2021.

He has been an integral part of the transformation which IPDC has gone through since 2015. During his journey at IPDC, his contributions were instrumental in making the company one of the fastest growing in the industry. He has played a pivotal role in implementing different award-winning value chain financing initiatives in the field of CMSME financing, retailer financing and supply chain financing. His contributions to support CMSMEs during Covid-19 pandemic was appreciated by the different entities including the central bank.

He has played an instrumental role in keeping IPDC's Non-Performing Loans (NPL) as one of the lowest in the industry. Additionally, he has also reshaped the Treasury Department to keep IPDC's liquidity at a healthy state.

Prior to joining IPDC, Shams held critical positions at Standard Chartered Bank, Habib Bank, and GSP Finance. He holds an MBA degree from Victoria University of Melbourne, Australia and obtained his BBA degree from North South University, Bangladesh. He has participated in different business training and seminars in Germany, Singapore, Thailand, Philippines, Malaysia, and India. 

In response to the appointment, Shams said, "Stepping into the role of Managing Director of country's first private sector financial institution, IPDC Finance is both an honor and a privilege. Despite having one of the lowest NPL in the industry, our focus will primarily be on NPL management alongside ensuring sustainable growth of the company and continue to keep ourselves aligned in upholding the highest standards of corporate governance through internal process optimisation and collaboration with external stakeholders and regulators. We are excited to lead the Company to a new chapter of innovation, growth, and excellence whilst focusing on sustainability, youth, women, and underserved areas. Together, we will continue to make strides towards achieving our strategic goals and serving our customers with dedication and integrity."