Functions of Credit Administration Division of IDLC Finance Limited

Abstract

Non-banking Financial institutions plays a pivotal role to keep the economic advancement and growth in pace. These institutions have typically been the dominant authority of long-term funds for the economy of the country. The magnitude of the non-banking sector in Bangladesh has expanded tremendously over the last decade. They have contributed to widespread economic development of Bangladesh. At present, 34 NBFIs are functioning in Bangladesh. Some remarkable NBFIs of Bangladesh are IDLC Finance Limited, IPDC, Lanka Bangla Finance, Bangladesh Finance & Investment Co. Ltd., and Bangladesh Industrial Finance Company Limited etc. IDLC is one of the prominent market players of the NBFI industry with a market portfolio of BDT 74 crore. The non-banking financial institutions (NBFIs) consist of an emerging and rapidly expanding portion of the financial sector of the country. The NBFIs have been providing constant support towards escalating the quality as well as the quantity of financial services. In this manner they are intending to mitigate the indiscretions of the financial intermediation to satisfy the dynamic needs and demands of different types of investment in Bangladesh. IDLC Finance Limited was inaugurated in the year of 1985 as the first leasing company of Bangladesh. The company offers wide range of financial products and services to the customers. IDLC Investments Limited and IDLC Securities Limited are the two independent subsidiaries of IDLC Finance Limited. I have done my internship in the Credit Administration Department (CAD) in the corporate head office of IDLC Finance Limited which is situated in Gulshan 1 of Dhaka. As being an intern of the department of Credit Administration, I got the respective opportunity to see how the Division of Credit Administration operates. Detailed discussion of all the duties and responsibilities of CAD will be discussed in this report. I anticipate that my report would provide a comprehensive insight to all activities that I carried out during my internship tenure. With limited access to information due to restrictions and confidentiality, I have attempted my best to lay out all the data possible regarding the functions of Credit Administration Division of IDLC Finance Limited.