SABINCO holds 41st AGM

FE Team | Published: June 30, 2025 22:04:39

The 41st Annual General Meeting (AGM) of Saudi-Bangladesh Industrial and Agricultural Investment Company Limited (SABINCO) was held at its Head Office in Dhaka recently.
The meeting approved a cash dividend of Tk150 million for the year 2024. During the year, the company earned a net profit of Tk 501.095 million. The AGM reviewed the company's operational performance, financial accounts, and investment portfolio, says a statement.
SABINCO is a joint venture financial institution equally owned by the government of Bangladesh and the government of the Kingdom of Saudi Arabia.
Md. Azimuddin Biswas, NDC, Additional Secretary, Financial Institutions Division, Ministry of Finance, and Majid bin Al-Ghamdi, Director, SABINCO, represented their respective governments at the meeting.
The meeting was presided over by the Chairman of the company, Sultan Abdulrauf. Members of the Board including Deputy Chairman Dr. Md. Khairuzzaman Mozumder, Secretary, Finance Division; Director Md. Shahriar Kader Siddiky, Secretary, Economic Relations Division, Ministry of Finance; and Director M. Saifullah Panna, Secretary, Chief Adviser's Office, -- all nominated by the Government of Bangladesh -- attended the AGM.
Director Mohammed M. Almalki and Director Majid Alghamdi -- nominated by the Saudi government -- attended the meeting online.
Mohiuddin M. Zuhair, Acting Managing Director, along with other senior officials of the company, were also present at the meeting.