IFIC Bank Ltd. has been awarding the 'IFIC Bank Literary Awards' since 2011 to encourage creative and thoughtful literature by recognizing the achievements of contemporary talented writers of Bangla language and literature. Following this, on 15th January 2022, IFIC Bank Ltd. organized an award giving ceremony of ‘IFIC Bank Literary Award 2019’. In the contemplative literature category, renowned poet, essayist and researcher, language movement activist Ahmed Rafiq received the award for his book ‘Bhasha Andolon - Teknaf theke Tentulia'. On the other hand, eminent novelist, poet and translator Mashrur Arefin was awarded in the creative category for his novel ‘August Abchhaya.’ 

Due to Covid-19 epidemic, the winners were honored through an online event this year. In the presence of Shah A Sarwar, Managing Director and CEO of IFIC Bank, Professor Abdullah Abu Sayeed, Founder of Bishwo Shahitto Kendro was the Chief Guest, while eminent cultural personality Ramendu Majumdar presided over the ‘IFIC Bank Literary Awards 2019’ event.

Each year, a selection committee and a jury consisting of the country's renowned literary critics select the best two books for 'IFIC Bank Literary Awards'. Each literary work receives 5 lacs taka as award money, which is the highest among literary awards in Bangladesh.