FAS Finance & Investment Limited also known as (FFIL) is a financial institution, providing financial services in Bangladesh. In the leasing and financing sector of Bangladesh, FAS Finance & Investment Limited has achieved a high position. This financial institute provides funds for construction equipment, medical equipment, machines for industries, and many more. The other areas of its financing include the transport sector, real estate and the medium and small sizes enterprises. Actually the company was known as Fidelity Assets and Securities Company Limited, but on 26th April 2011, it got a new name, FAS Finance & Investment Limited. In the year 1997, FAS Finance and Investment Limited was incorporated with its base in Dhaka, Bangladesh.
Company people of FFIL:
Mr. Abdul Matlub Ahmad is the Chairman of FAS Finance and Investment Limited. Among the key executives Mofiz Uddin Chowdhury is the chief executive officer, director and the managing director of the company. Mr. Satya Gopal Podder and Mr. Mustafa Aminur Rashid are the independent directors of FAS Finance and Investment Limited as on 23-09-2012.
Recent activities of FFIL:
In recent FAS Finance AND Investment limited had its annual general meeting on 28th July, 2012 at hotel Abakash. Earlier FAS Finance and Investment Limited had the shareholders meeting at the auditorium of Nitol centre, on 19th November 2011. The agenda of this meeting was to enhance the authorized capital of the company from Tk 2100 million to a height of Tk 5000 million and also for changing the share denomination. The meeting was to also make recommendation for raising the paid up capital through the issue of right shares i.e. there will be two right shares for every existing held share. The FAS finance and investment limited has showed tremendous growth in its revenue, as its revenue roused from $1.2 million to $10.2 million. The other impressive job the company did was that it reduced the sales percentage devoted to income tax to 124.93% which was earlier 3388%. This led to the growth of the bottom line from $85.6 million to $89.2 million.
Products of FAS Finance & Investment Limited:
There are currently four products available in FFIL known as Credit & Investment, Deposit scheme, Home Loan and SME Loan. Each of these products has their own sub-categories.
Credit & Investment:
Lease Finance, Transport Finance, Term Financing and Project Finance features are available under Credit & Investment product of FFIL.
Lease Finance – FFIL offers simple procedure and flexible feature in terms of lease financing. Clients can take lease for their medical equipments or construction business or for machinery or industrial equipments buying purposes.
Transport Finance – FFIL is one of the leading financial institution for transport financing, it has financed huge amount of money in transport sector. Corporate clients can take finance for office transportation from FFIL very quickly.
Term Financing – FFIL offers term financing to its clients based on profitability of the project, products and socioeconomic factors but these terms financing procedure may differ from one corporate client to another. One year to five year term financing feature is available for manufacturing industries.
Project Finance – FFIL also offers project finance to its clients and one of the unique feature is sometimes this company contributes as sponsor or syndicate member of the projects.
Deposit Scheme of FFIL:
- Minimum amount of deposit is no less than fifty thousand taka.
- Minimum one year to five years time duration in deposit scheme.
- Interest rate varies from one year to five years.
Home Loan – Clients can take Home Loan from this company in a competitive interest rate and they need to repay the loan within ten years.
SME Loan – SME Loan features is available for small enterprise to large enterprise companies. If any company is non public or we can say private company and it seeks SME Loan then FFIL is there for help. FFIL also encourage women entrepreneurs to take loan with a flexible interest rate.
There are many financial institutions running in Bangladesh, working to change the social and economic picture of the nation. Among those, FAS Finance & Investment Limited has come up with its name in a positive aspect. Making its immense contribution in the development of the Bangladesh economy, FAS Finance & Investment Limited is continuously spreading its business across the nation. Providing people funds for their enterprises, it is bringing prosperity all across the nation. People are gaining the confidence to take up business and earn a healthy living. FAS Finance & Investment Limited has brought smile on every face. The clients are happy and satisfied with the efficient and easy business that the institute provides and the shareholders are happy with the healthy performance and rising prices of its share.
A Brighter Tomorrow:
Today every Bangladeshi is linked with any of the financial institute somehow and is making way to a bright future. Let’s hope that someday the efforts of FAS financial and investment limited, and other such institution takes the economy of Bangladesh to new heights.
FAS Finance & Investment Limited enlisted in Dhaka Stock Exchange on 2008, it’s been rated as “B” category share under the financial sector as on 23-09-2012
Contact information of FAS Finance & Investment Limited:
Address: Suvastu Imam Square (4th Floor),65 Gulshan Avenue
Gulshan, Dhaka-1212, Bangladesh
Phone: 029860594, 028825949, 029860273