IDLC managing director resigns

Arif Khan, managing director of IDLC Finance, resigned on Monday, one year before his contract expires.

Khan cited personal reasons for the resignation.

“I will pursue my career in business,” he told the Business Insider Bangladesh over the phone.

He served IDLC as its managing director for five years and brought the company on a strong foundation when most of the non-bank financial institutions were struggling.

His resignation came as a surprise for his colleagues in IDLC and other financial institutions as well.

“I was happy with my board of directors. They were very supportive,” Khan said.

“Now I will take a break before engaging with a joint venture business,” he noted.

IDLC Finance recorded the highest ever profits in the coronavirus pandemic year and has declared a 35% cash dividend for its shareholders. The company’s earnings per share was Tk6.74 for the year ended on December 31, 2020. A share of IDLC was traded at Tk64.2 on Dhaka Stock Exchange on Monday.