First Lease International Limited
First Lease International Limited (FLIL) incorporated in Bangladesh as a private
limited company on 28 June 1993 under the COMPANIES ACT 1913 primarily to conduct
LEASE FINANCING business. It was transformed into a public limited company on 28 July
1996 and got the license from the BANGLADESH BANK as a NON-BANK FINANCIAL
INSTITUTION on 5 October 1999. To fulfill the legal requirement, it enhanced paid up
capital and accordingly, keeping the authorised capital unchanged at Tk 250 million, its
paid up capital increased from Tk 25 million to Tk 50 million.
The company carries out lease financing for industrial, commercial, agricultural, medical
and office automation equipment and machinery of all categories in conformity with the
government's industrial and investment policies. It provides term finance for BMRE of
industrial units of both large and medium scale and small and cottage industries. For
lease financing, this company gives more emphasis on the paying ability and future
business property of the lessee. Lease contracts are generally made for two to five years.
By paying 80% of total price of particular property to its supplier, the company
establishes its ownership in that property and then leases it out to parties who pay
monthly lease installments.
The value of leased assets of the company amounted to Tk 254 million on 31 December
2000. Total assets of the company were valued at Tk 290 million. The company earned
operating profit of Tk 16 million in 2000, but its net profits are still insufficient for
offsetting the preparatory administrative and other preliminary expenses.
In 2000, the company had 23 employees including 13 officers. The managing director is
its chief executive officer who is also the member secretary of its board of directors.
Collection from The Banglapedia.
Abdur Rab (forhad)
Department of Public Administration.