It was set up at the instance of the Government in 1976 as a joint venture between the Government of Bangladesh and Sponsors in the private sector with the objective of working as a finance company within the country and setting up joint venture   banks/financial institutions aboard.

The Government of the People's Republic of Bangladesh (including Directors) holds 32.75% of the share capital of the Bank and the rest is held by Institutions both Local & Foreign and General Shareholders.

It has extended its global corporate footprint in the form of Joint ventures and subsidiaries in Nepal, Oman and UK.

International Finance Investment and Commerce Bank Limited was established in 1976 as a joint venture between the Government of Bangladesh and private investors.

[8] The Malaysian company was owned by Falu, Enayetur Rahman, and Ekramul Haque.

[8] Justice Zubayer Rahman Chowdhury of Bangladesh High Court issued a sixth week stay order on the annual general meeting of the bank in July 2009.

[11] He is the secretary of Bangladesh Nationalist Party vice-chairman Tareque Rahman and was accused of being involved in opposition violence in Joydevpur in Gazipur District in August 2015.