IPDC Finance gets new MD

IPDC Finance has appointed a new managing director (MD), according to a press release received today.

The appointee, Rizwan Dawood Shams, had been serving as the acting MD since last January following the resignation of Mominul Islam, who had served as MD and CEO for over a decade, in November last year.

Shams joined the non-bank financial institution in November 2007 and was promoted to the post of additional MD in April 2021.

He previously worked for Standard Chartered Bank, Habib Bank and GSP Finance.

"Despite having one of the lowest NPLs (non-performing loans) in the industry, our focus will primarily be on NPL management alongside ensuring sustainable growth," said Shams.

The company will also uphold the highest standards of corporate governance through internal process optimisation and collaboration with external stakeholders and regulators, he added.

Shams obtained his bachelor's degree from North South University and did an MBA from Victoria University of Melbourne, Australia.