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In a move that marks the end of an era, Mominul Islam, the visionary leader and MD & CEO of IPDC Finance, has decided to pursue his career outside IPDC, setting sail for new horizons from January 2024. This momentous decision follows an illustrious 18-year journey, during which he orchestrated a profound metamorphosis, reshaping IPDC Finance into a powerhouse within the Non-Banking Financial Institution (NBFI) sector.
Mr Islam joined IPDC in 2006 as Head of Operations and technology and ascended to the position of Managing Director and CEO in 2012. His four-term reign as Managing Director has been nothing short of legendary, propelling IPDC Finance to unprecedented heights. Under his stewardship, the organisation's balance sheet experienced tenfold growth while maintaining Non-Performing Loans (NPL) at an industry-low level, putting the company as the leader in terms of market valuation.
In the last decade, Mominul Islam led IPDC through a transformation, turning it from the oldest NBFI into the most innovative one. His leadership saw the introduction of groundbreaking products and technological innovations, coupled with a commitment to excellence in customer service. During his reigns, the organisation launched South-East Asia's first-ever blockchain-based digital supply chain financing platform 'Orjon', as well as the country's first digital retailer financing platform 'Dana', the cardless, zero-interest consumer financing app 'IPDC EZ' and a country-wide affordable home loan product named ‘Bhalo Basha Loan’. Besides, the rebranding of IPDC in 2016 marked the beginning of a new era under Mominul Islam's guidance.
Under his stewardship, IPDC Finance not only grew as a financial entity but also accumulated brand equity like never before in the NBFI sector. Even compared to the broader banking sector, IPDC's brand performance stood out as superb.
From 2020 to 2022, Mominul Islam 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). Mr Islam's impact extended beyond national borders, as he has recently assumed the role of Chairman of the Association of the Development Financial Institutions in Asia and the Pacific (ADFIAP), elevating Bangladesh's position on the global stage. Previously, his leadership garnered him the prestigious Best CEO Award from ADFIAP.
Beyond financial success, Mominul Islam initiated platforms under IPDC with the potential for long-term societal impact, including those focused on women empowerment, youth development, and serving underserved communities. Platforms such as the 'Unsung Women Nation Builders Awards' and 'Priyo Shikkhok Shommanona' received widespread acclaim. Notably, Mr Islam introduced the first-ever loan product for purchasing books, 'Shubodh', a move widely appreciated for its cultural significance and internationally acclaimed “Child Marriage Prevention Loan” to encourage girl child education for marginalized people.
Mr Islam's commitment to preserving Bangladesh's culture and heritage was evident through award-winning initiatives like 'IPDC Amader Gaan', a popular YouTube platform promoting folk songs, and 'Bornoshilpi', the first-ever Bangla calligraphy competition.
More than a CEO, Mr. Islam was a leader who instilled a vibrant culture within the organization, encapsulated by the motto 'Live Unbound'. This ethos, not just a tagline, spread through the entire organisation, inspiring employees to achieve remarkable performances.
Before joining IPDC, Mr Islam garnered experience at esteemed institutions such as American Express Bank and Standard Chartered Bank, both in Bangladesh and abroad.
Commenting on this, Mominul Islam said, "This has been an impactful journey with IPDC. I've had the privilege of collaborating with amazing colleagues, the most versatile board, and our loyal customers. Leaving behind a competent team to carry the legacy forward fills me with pride. I'll proudly remain a brand ambassador of IPDC, cherishing the memories created and successes forged during our time together."
His departure marks the end of a leadership era at IPDC Finance. His legacy, however, will resonate as a guiding philosophy, inspiring future leaders and shaping the narrative of success in the NBFI sector for years to come. The tale of Mominul Islam's leadership at IPDC Finance is more than a chapter."