The customized effective planning and its proper implementation help the business grow. And if any financial institution unleashes its target through proper planning, it is understandable that it is here to stay lively with holding its head high.
Such is the case of International Leasing and Financial Services Limited (ILFSL) where the all officers of the organization prepare the month-wary action plan for the year 2023, to reach the yearly targets.
The 261st board meeting of the financial institution ILFSL was held at the company's head office on Thursday. Former education secretary Md Nazrul Islam Khan, who was appointed by the Honorable High Court, presided over the board meeting.
Court-appointed Independent Directors Syed Abu NaserBukhtear Ahmed, Senior District and Sessions Judge (Retired) Md. Shafiqul Islam, Brigadier General (Retired) Md. Meftaul Karim, Barrister Md. Ashraf Ali, Enamul Hasan and current Managing Director (CC) Md. Mashiur Rahman were also present.
The Board of Directors reviewed the monetization plan presented by the Liability Management Department and asked to consider monetization orders smoothly and promptly based on the application of new depositors to increase the enthusiasm and confidence of people interested in saving money, and also ordered monetization of deposits of interest surrendering depositors to acknowledge their sacrifice and reduce the cash outflow of the institution.
The Board also suggested to put the priority to the applications of Provident Funds, Pension Funds etc. funds and various non-profit organizations to pay their interest only based on the current cash flow of the organization with proper monitoring and verification. The Board of Directors directs the Liability Management Department to add future plans for monetization of deposits setting priorities in those three categories.
Based on the information presented in the meeting of the legal department, the board of directors reviewed the total number of cases, the amount of money sued and the number of settled cases and prepared and presented year-wise list. The Board also directed to present the number and plan of possible future settlement of cases noting the status of any case.
In addition, each department submitted information regarding previous years' achievements and departmental expenditure also presented the projected profited loss statement for the year 2023.