UAE-BANGLADESH INVESTMENT COMPANY LIMITED (UBICO)

The UAE-Bangladesh Investment Company Limited (UBICO) is a Development Financial Institution(DFI). It was established under the joint initiative of late H.H. Sheikh Zayed Bin Sultan Al Nahyan, the founder and President of the United Arab Emirate and the Government of the People's Republic of Bangladesh. The strong desire and sincere realization of late H.H. Sheikh Zayed Bin Sultan Al Nahyan to extend assistance to Arab, Islamic and friendly developing countries to overcome economic hardship and challenges was the main philosophy behind to set up the company. Accordingly in the year 1986, a joint protocol for collaboration was signed between then two Government to establish the company. UBICO was floated as a Private Limited Company with the Abu Dhabi Fund for Development (ADFD) an integral part of the UAE Government and Government of Bangladesh as the two share holders. It was incorporated on June 11, 1987 under the Bnagladesh.

Companies Act 1913 with its head office in Dhaka, Bangladesh. The company started its business in June 1989. Of its share, 60% was paid by ADFD and remaining 40% by the Government of Bangladesh. Subsequently, under the financial institution act 1993, Bangladesh Bank ( Central bank of Bangladesh) granted licence to UBICO in 1995 to operate as Financial Institution.