Green Delta Capital Limited

The Padma Bridge, built through public investment, has opened strong private investment avenues in the South-Western part of Bangladesh with the capital market having opportunities to cater to the investment needs as well as making itself vibrant, experts said at a seminar on Tuesday.

The discussion titled “Padma Bridge and Opportunities for Bangladesh Capital Market” was organised by local merchant bank Green Delta Capital Ltd at a Dhaka hotel.

Prime Minister’s Economic Affairs Adviser Dr Mashiur Rahman in his speech as the Chief Guest said the financial market can play a role in channelling people’s savings towards productive sectors and the market has enough resources and opportunities to do it through expanding the bond market, and crowdfunding arrangements.

The equity-dominant capital market also has opportunities to finance megaprojects through strengthening the bond market as it is better capable of long-term project financing, said Dr Shamsul Alam, state minister for planning.

Special Guest, Financial Institutions Division Secretary Sheikh Mohammad Salim Ullah said Bangladesh needs investments to achieve the long-term development goals and the government counts on the capital market’s role to attain this objective.

Green Delta Capital Managing Director Md Rafiqul Islam in his keynote speech said, “Capital market can add value to meet long term funding gap for both public and private sector. Also, by strengthening the bond market, we can mobilise the funds to fully access the wide array of opportunities that Padma Bridge brings to the table.”

The self-funded bridge which opened a month ago is being considered to be a game changer for the economy due to the connectivity and economic opportunity for around 3 crore people of the 21 South-Western districts, he said.

Padma Bridge would propel the region’s GDP by 2.5% and the national GDP by 1.23%, he said citing various impact studies, adding that the manufacturing and agriculture sector in the South-Western region would see a 9.5% annualised growth due to the bridge, which would be 29.5% in healthcare, construction, and real estate.

Also, the largest bridge in the country offers the transportation industry a $500 million boost in five years, 3-5 times revenue for the tourism spots in the Khulna region, and a much higher demand for banking, insurance services, and energy and power, the keynote speaker added.

“As the country expects huge economic benefits from the Padma Bridge project, access to four key potential factors can add value for the future development of any scale in the capital market,” the investment banker said.

The factors are infrastructure and communication, capital, human resources, and information. Access to capital is the most important precondition to any development for the capital market.

The market can grow to meet the challenges ahead and become a major contributor as a reliable and sustainable source of capital, he said.

Bangladesh Securities and Exchange Commission (BSEC) Chairman Professor Shibli Rubayat-Ul-Islam said after the bridge, two listed firms which had once shut down operations attracted Chinese investors for a takeover.

The bond market is getting its barriers removed and should be supported through policies, he said, adding that the capital market is welcoming entrepreneurs and investors to fill the gap in needed investments.

After the Keynote presentation, the program also featured a panel discussion moderated by senior journalist Mozammel Haque.

The panel of experts included Dhaka Stock Exchange MD Tarique Amin Bhuiyan, Chittagong Stock Exchange Chairman Asif Ibrahim, Brac Bank MD and Association of Bankers Bangladesh Chairman Selim R F Hussain, and Apex Footwear MD and Bangladesh Association of Publicly Listed Companies Vice President Syed Nasim Manzur.

They showcased the key benefits of Padma Bridge as well as the consequent potential role and underlying economic opportunities for Bangladesh’s capital market in line with the country’s greater economic development with a vision to attain upper middle-income status by 2030.

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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