The shielding effectiveness of locally developed polyboron and ilmenite-magnetite (I-M) concrete is investigated using the reactor neutron beam of the 3-MW TRIGA Mark II research reactor at the Atomic Energy Research Establishment, Savar, Dhaka. The effective removal cross sections for the foregoing individual shielding materials as well as their combinations are obtained from transmission data using two-group neutron fluxes defined by a Cd-cutoff value. The experimental transmission factors for I-M concrete and polyboron are compared with those obtained from transport calculations performed with the ANISN deterministic code in the forward mode and the MCNP4B Monte Carlo code. The ANISN code is used for the fast neutron group flux (Cd-cutoff flux), and the MCNP4B code is used for the total neutron flux. The agreement between the experiment and calculation is fairly good at deep penetration, but at initial points, some disagreement is observed. This observation is valid for both polyboron and I-M concrete.