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Saudi Bangladesh Industrial and Agricultural Investment Company Limited, popularly known by its acronym SABINCO, is a joint venture Industrial Finance and Investment Company owned by the Governments of Saudi Arabia and Bangladesh.
It was incorporated under the Bangladesh Companies Act 1913 on 24th June 1984 with it’s headquarter in Dhaka. The company commenced operation in 1986. In 1993 Bangladesh Bank granted license to operate it as a Non-Banking Financial Institution.
The objective of the company is to make investment in manufacturing, agro-processing , infrastructure and utility service projects/industries in Bangladesh on commercial basis through loans, finances and equity participation.
The company has a paid up capital of USD 60 million with following shareholding.
|Government of the Kingdom of Saudi Arabia||– 50%|
|Government of the People’s Republic of Bangladesh||– 50%|
The company has a six-member Board of Directors to which the Government of Saudi Arabia nominates the Chairman and two members, while the Deputy Chairman and two other members are nominated by the Government of Bangladesh.
SABINCO has both loan and equity based products and it also acts as financial intermediary and advisor. SABINCO promoted large number of medium and large scale industrial projects in manufacturing, agrobased and infrastructure sectors some of which were first of its kind in Bangladesh and created more than 10,000 new jobs. SABINCO played a pioneering role in Bangladesh economy by creating new industrial subsectors like industrial scale fish farming, fishery and poultry supporting industries, private sector cement factory, export oriented fruit and vegetable processing unit etc. Currently SABINCO is also funding in telecom, pharma, power and expanding its financing depth.