Green Delta Capital Limited

It is easy to be cynical about environmental, social and governance, but Green Delta Capital is all the proof sceptics need that environmentally friendly finance is a sound business proposition. Founded in 2010, the investment bank has quickly become one of the fastest growing in Bangladesh Green Delta, led by chief executive Rafiqul Islam. Pretty much does it all, but its specialities are investment banking solution such as syndication, IPOs, corporate advisory, and portfolio and wealth management. It does all these with a twist though: the greener the better. At this point, Islam says, the bank doesn’t bother with deals that are perceived as environmentally damaging. On the surface, this approach might seem out of step with profit opportunities in a developing nation such as Bangladesh. But there are ample ESG-related opportunites in the country, which has notoriously high polution levels and suffers from devastating annual floods. Green Delta’s driving philosophy, as Islam puts it, is looking at where and how the country is trying to change itself from an agriculture-based economy to a manufacturing economy to a tech-dominated economy. In this context, Green Delta’s team is devoted to driving action on climate change and advancing sustainable finance-and turning a profit while doing it. Its most-important ESG delas in 2021 included arranging $36 million in financing for the small and meduium-sized enterprise sector, including for green and sustainabke projects; raising Tk 8.9 billion (100 million) for environmentally friendly projects and to support a post-Covid recovery; and serving as a sell-side adviser for a Norwegian sponsor of a solar power project in Bangladesh. The crux of the win-win that Green Delta seeks to provide is to focus on meeting the diverse needs of cutomers while ensuing an increase in return on investment. ESG priorities can remain on course regardless of the business environment, thanks to financing from multilateral lenders such as the World Bank. Its International Finance Corporation is an equity partner of the parent company. This gives the Green Delta team the flexibility to continue to extend services in rural areas-to establish more sustainable manufacturing plants that both create employment opportunites and reduce Bangladesh’s carbon footprint. In the Covid era, Green Delta aims to offer lower-cost funds to business and entrepreneurs who promote sound coporate governance. One priority for 2022 in facilitating various green projects-from solar power plants and low-pollution manufacturing technology to sustainable transportation-related infrastructure. Other projects prioritize access to safe and reliable water supplies and sanitation for the underprivileged. Channeling funds to low-income borrowers to finance healthcare in rural areas is also a focus. So in helping to create an alternative private debt market to transform Dhaka into a regional sustainable finance hub. Green Delta seems well-positioned to push the issue in Bangladesh. It has deep relationships in fast-moving sectors such as consumer goods, healthcare, ready-made garments and telecommunications. It also has business outside Bangladesh – in Malaysia, Nepal and Sri Lanka for example. The bank’s portfolio and wealth management divisions are assisting local and foreign investors seeking to tap sustainable capital market opportunites. In addition, it provides free investment education sessions to share Green Delta’s ESG world view. Many bank chief executives like to claim that their teams contribute to the greater good. But Islam’s contention, that Green Delta is excelling both at doing good and doing well, is hard to refute.
Md. Rafiqul Islam

Managing Director & CEO

Md. Rafiqul Islam is presently serving as the Managing Director & CEO at Green Delta Capital Limited. Due to his exceptional performance as Chief Investment Officer of GDC, Mr. Islam was promoted to lead the company to newer heights. Mr. Islam is a highly experienced professional in the realm of Investment Banking, specializing in Corporate Finance, M&A, Private Equity, Corporate Banking, Wealth & Portfolio Management.

His extensive professional background incorporates proficiency in both Debt and Equity Capital Market products. He has played a pivotal role in numerous significant transactions involving the raising of debt and equity funds, including Foreign and local Syndication and IPOs across diverse sectors such as Infrastructure, Power, Energy, Financial, Agro, Textile, Telecom, Manufacturing, FMCG, and Food processing.

Mr. Islam has substantial experience in Islamic Finance, particularly in Sukuk, covering the entire process from structuring to raising funds through Sukuk issuance for corporates. He is also adept at structuring Private Public Partnership (PPP) projects and infra deals, transforming them into bankable deals.

With a professional career spanning over 21 years, Mr. Islam has built a successful track record of consistently creating sustainable value in the fields of Investment Banking and Corporate Finance. His accomplishments include raising funds from both domestic and foreign markets for both debt and equity.

Commencing his career in 2002 with a major conglomerate in Bangladesh, Mr. Islam subsequently worked at Orascom Telecom Bangladesh (Vimpelcom) before joining BRAC EPL Investments Limited as Associate Director & Head of Structured Finance.

Mr. Islam is also acknowledged for his contributions as a keynote speaker and panelist in various international and national conferences, summits, and TV media discussions on Capital Markets, Investment Banking, Private Equity, and Venture Capital. The government of Bangladesh has recognized his efforts in promoting the country among foreign investors. Additionally, he served as the Vice President of Bangladesh Merchant Bankers Association (BMBA) for 2018 and 2019.

Mr. Islam holds a Master’s degree in Commerce with a focus on Accounting, and he has also completed his MBA in Finance from East West University, Bangladesh.

Nadeem A. Chowdhury


Mr. Nadeem Ahmed Chaudhury, is a dynamic professional having many years of experience in heading big organizations like Eastern Housing Ltd.
Currently he is working as Chief Executive Officer of Bengal Development Corporation Ltd. He is also the Sponsor Director of Enrilco Ltd. He has experience in the Infrastructure Development business of more than 18 years.

Abdul Hafiz Chowdhury


Mr. Abdul Hafiz Choudhury, has over 40 years of experience in the corporate world. He is one of the founders and the past Chairman of Independent University, Bangladesh and a senior partner (retired from active service) of KPMG Rahman Rahman Huq, Chartered Accountants.
He is a Director in the board of ICB Islamic Bank Ltd, Green Delta Insurance Co. Ltd. and New Zealand Dairy Products Bangladesh Ltd. He is also the Vice President of United Nations Association of Bangladesh.

Naima Chowdhury


Ms. Naima Chowdhury, is a qualified professional having experience of managing renowned business portfolio of East Coast Group related to real estate.
She is also the director of East Coast Group, Bangladesh.

Mr. Nasir A. Choudhury, Chairman, is a visionary and highly experienced professional. He has over 50 years of experience in the insurance industry and considered to be a living legend in his field.
He started his career with Pakistan Insurance Corporation head office at Karachi, Pakistan in 1958. He is the Advisor and also Founder Managing Director of Green Delta Insurance Co. Ltd. the leading General Insurance Co. in Bangladesh since its inception i.e. 1.1.1986.
He is also playing the role of Director, Chairman, Sponsor Director and Vice Chairman in different renowned organizations like Delta BRAC Housing Finance Corporation Ltd., Progressive Life Insurance Co. Ltd., Union Capital Ltd. etc.
He received many prestigious awards not only for his contribution in the insurance industry but also in overall economy.

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