IPDC CEO Mominul to step down after 4 terms

IPDC Finance Managing Director and CEO Mominul Islam has decided to step down from his position after completing four terms.

Mominul's current term as MD and CEO ends on 3 January 2024, however, he has decided to not to renew his term.

Talking to The Business Standard regarding his decision, he said he wants to explore a career in startup and technology which is his passion.

"In a move that marks the end of an era, Mominul Islam, the visionary leader and MD and CEO of IPDC Finance, has decided to pursue his career outside IPDC, setting sail for new horizons from January 2024," the company said in a statement on Wednesday (29 November). 

"This momentous decision follows an illustrious 18-year journey, during which he orchestrated a profound metamorphosis, reshaping IPDC Finance into a transformative powerhouse within the non-banking financial institution (NBFI) sector. Under his stewardship, the organization's balance sheet experienced tenfold growth while maintaining non-performing loans (NPL) at an industry-low level putting the company as the market leader in terms of market valuation," it said. 

Mominul has been leading the company as its MD and CEO since January 2012.

After joining IPDC in 2006 as head of operations and technology, he worked as deputy managing director of the company from July 2008 to December 2011. 

He previously worked at American Express Bank and Standard Chartered Bank, with a career in different areas of the banks in Bangladesh, Singapore, Hong Kong, India, and the United Kingdom.

From 2020 to 2022, Mominul was the chairman of Bangladesh Leasing and Finance Companies Association (BLFCA). Currently, he is an executive committee member of Bangladesh Association of Publicly Listed Companies (BAPLC). He has recently assumed the role of chairman of the Association of the Development Financial Institutions in the Asia and Pacific (ADFIAP).