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Information Technology and Management

ICB had realized the importance of well-managed strategic use of Information and Communication Technology (ICT) long before and took effective measures in this regard. It has won appreciation of all its stakeholders for bringing efficiency and dynamism in its day to day operations through successful installation of its advanced computer system. The Corporation has not only developed a computer setup of advanced technology but the system is also maintained by a set of skilled manpower. Besides, officers/employees of all levels have been groomed up by imparting effective training at all relevant different stages. In this perspective a modern training center has been set up in Corporation's office at 35/C, Kashfia Plaza (2nd floor), Nayapaltan, Dhaka, where standard training programs are imparted. The corporation put high emphasis on efficient procurement of latest hardwares and ancillaries. According to the taken work plan, to set up minimum requirement of a Data Centre (420 sq-ft floor area) in head office, Civil works, Glass partition & Raised Floor, Electric works, Renovation, Shifting & Installation of Equipments, Air Conditioning System & Dehumidifier, Environment Monitoring System (EMS) & Biometric Access Control System, etc. have been completed. The work to set up Precision A/C, Auto Gas Suppression System, Redundant Power Supply (Heavy Duty Power Supply), Stand by Generator, etc. will be installed in the next phase. Besides, ICB has taken initiatives to establish a Disaster Recovery Site (DRS) along with other state owned banks and financial institutions. According to the instruction of Bangladesh Securities & Exchange Commission, the conversion work of investor's omnibus BO account to investor's individual BO account has been completed very successfully by IT professionals of the organization. To complete this huge assignment new software was developed and required modification of existing software was done and connectivity of head office and branch offices with CDBL were established. Beside this, data connectivity of branch offices with head office were established which will be activated very soon.

IT personnel of the Corporation are capable of developing softwares and they have developed a large number of softwares in house which are being used regularly. Apart from this, some softwares have been developed by a number of leading software firms of the country. Some of the softwares, used by different departments of head office and branch offices of ICB are Merchandising Operation Management System, Mutual Funds Scrip and Ownership Management System, Stock Exchange Index Publication, IPO Management System, Personnel Management Information System, Law Suits Tracking, Unit Sale and Repurchase Management System, Accounting Application, General Ledger, Staff Loan, Payroll, Unit Lien Advance System, Fixed Deposit Register, Term Deposit Register, Lease Financing, Project Loan Accounts, Fixed Asset Management System, Inventory Management System, Company Accounts Analysis System, Portfolio Management System, Security and Market Analysis System, Consumer Credit Scheme, Provident Fund Management System, CIB, MIS, GL Integration, Mutual Fund (CDBL), ICB Share Management System, Retired employees house building loan management system, EEF Project Administration and Budget Management System.

ICT meeting for disaster recovery with all banks. Secretary ICT Ministry, GOB was also present in this meeting.

Recently, a complete software, Online Recruitment System, which received application through online, has been developed by ICB's own IT professionals. Thus the recruitment process of the organization has become faster and easier.
Broad band internet connection has been provided to most of the division/departments of head office and in all branches. As a result, anybody of the Corporation can browse and download different information. Moreover, all official letters and circulars are being distributed through e-mail as the first step of making the paperless office.
The web site of the corporation contains updated information. Interested persons at home and abroad can fetch required information from it.
Information Technology is changing rapidly day by day. According to the plan, required hardwares and softwares are being procured to replace the obsolete ones in order to keep the system updated. In addition, sufficient PCs, printers and other hardwares are purchased every year to cope with the enlarged workload of the Corporation.
ICB provides all information to its valued investor account holders through printed statement. Intiative has been taken to serve these information through internet and short message service (SMS). For this purpose Auto SMS and Push-Pull service has been introduced.

Five Year ICT Plan

The computer system of ICB is being updated time to time to keep pace with the technological advancement and its application world wide. The existing computer setup needs to be changed and expanded. Some of the existing hardware and software have to be reshaped in order to make more dynamic and to increase customer service. Some new departments and divisions have been created to expand the scope of business of the Corporation. Hence, there has been a growing demand of developing new software modules along with updating the existing ones for the newly created divisions/departments. Moreover, the computer system of branch offices will be connected with the Head Office to bring the whole system under a single integrated online system. This will make the task of database management and report generation faster and more effective. A Five year ICT Plan has been developed with a view to achieving the corporate goal. In that case, the ICT Plan puts emphasize on five basic components and these are briefly described below:

The upgradation of the existing software and the development of the new ones:

Under the proposed ICT Plan, the upgradation of the existing software modules and the development of a number of new software will be done. All proposed software along with the existing ones will have the same platform for the easy maintenance. It would be easier to bring all the new software along with the transformation of the existing ones under one single platform. All the officers working in ICT are made skilled on a unitary platform. This is because effective application of ICT depends on the integration of quality hardware, software and skilled manpower. Accordingly decision has taken to convert the existing desktop based software web enabled as a part of the total system upgradation with a view to achieving customer satisfaction through widening the scope of the services and technological development. Alongside the newly developed software will also be web enabled. Two core teams have already been formed in order to get the job done properly according to the Plan.

Data Center (DC):

Under the ICT plan a high tech data center will be built at the head office of the Corporation. At the initial stage, the Data center will be established on a premise of 420 sft. area and all kind of safety and security will be ensured through installation of disaster prevention equipment (such as: smock detection and auto suppression, precision AC, environment monitoring system(EMS), access control system etc). It will be built in phases. Meanwhile, construction of all physical infrastructures and installation of machineries have been completed. Remainings will be completed within the schedule time frame.

Data Connectivity:

All the branches of ICB are being connected with the head office. As a result, all the branches will be able to function under a single database system instead of maintaining separate database in separate server. This will make the software maintenance and database system easier and consolidated report can be generated instantly. ICB head office and all its branches are now connected with the Central Depository Bangladesh Limited (CDBL). This connectivity will help to connect all branches with the head office later. Besides, all government institutions are being brought under a country wide single network called BANGLAGOVNET sponsored by Bangladesh Computer Council (BCC) where ICB will also be included with the aforesaid network as used with the ICT mainly.

Disaster Recovery Site (DRS):

The overall activities of ICB including its customer services are being conducted through the computer system. Hence, software and data which are being used in this server system are considered to be very crucial. Since the server system and the software and data being used are very valuable and significant, the backup system must be vary resilient and secured. The basic customer service of the corporation centers around the capital market which is very sensitive. It is very essential to keep up continuation of customer service uninterrupted. A Disaster recovery site (DRS) is required to be built up with a view to ensuring the uninterrupted service to customer. The DR Site should be built at a far different geographical place. According to the ICT guideline of the Bangladesh Bank, the distance between the data center and the DR Site must be at least 10 km. However, as it is time consuming and expensive to build and maintain such a DR Site alone, it has been planned to build this DR Site jointly with other state owned banks and financial institutions. A joint discussion meeting with the banks and financial institutions was held at the head office of ICB. Mr. Nazrul Islam Khan, the honorable Secretary, Ministry of ICT was present in the meeting. The representatives of the other banks and the financial institutions advocated the proposals raised by ICB in the joint meeting and they are eager to take part in this initiative. Govt. and private banks and financial institutions can use this DR Site. Those institutions will be able to save a significant amount of money as they need not build and maintain separate DR Site.

Human Resource Development:

The ICT personnel are being imparted training for improving their efficiency. The personnel assigned to develop the software are being trained under the supervision of Computer Science and Engineering Department at BUET. Besides, a modern training center has been set up to provide training to its manpower.A committee has been formed under the leadership of the Managing Director of the Corporation with a view to reviewing and monitoring the proper implementation of ICT Plan. At every regular meeting of the Committee necessary directions are given and other decisions are taken along with the reviewing of the progress of the implementation of the Plan. Besides, the Board of Directors is being apprised regularly about progress of implementation. Finally the proposed ICT plan is expected to achieve the following objectives:

  • An efficient and effective ICT setup will be developed to provide efficient customer service of ICB.
  • Different types of software modules have been developed for different purposes since 1998. Some modules were developed using different tools and platforms. These are planned to be brought into a uniform platform to make the integration easier and effective.
  • Online data connectivity will be established between all offices of ICB located in different parts of the country. All offices will be able to work under single database environment. As a result, any consolidated report or statement could be readily available in this system.
  • A state of art Data Center (DC) will be built at ICB Head Office to modernize the ICT physical infrastructure for smooth service delivery to its customers. All kinds of machinaries and equipment will be installed to prevent any sorts of disaster with the view to ensuring the optimum uptime of the system.
  • A Disaster Recovery Site (DRS) will be built at a suitable place in order to provide uninterrupted customer service and to prevent any kind of disaster.


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