List of banks in Bangladesh

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The bank sector in Bangladesh consists of several types of institutions. Bangladesh Bank is the central bank of Bangladesh and the chief regulatory authority in the banking sector.

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According to the Bangladesh Bank Order, 1972 the Government of Bangladesh reorganized the Dhaka Branch of the State Bank of Pakistan as the central bank of the country and named it Bangladesh Bank with retrospective effect from 16 December 1971. Other than Bangladesh Bank, banks in Bangladesh are primarily categorized into two types: Scheduled and Non-Scheduled banks. [1]

Scheduled banks

Scheduled banks are licensed under the Bank Company Act, 1991 (Amended to 2013). Currently, there are 61 scheduled banks in Bangladesh. [1]

State-owned commercial banks (SOCBs)

There are 6 state-owned commercial banks (SOCBs) that are fully or majorly owned by the Government of Bangladesh. [1]

Specialized banks (SDBs)

3 specialized banks are now operating which were established for specific objectives like agricultural or industrial development. These banks are also fully or majorly owned by the Government of Bangladesh. [1]

Private commercial banks (PCBs)

There is a total of 43 PCBs in operation right now. They are majorly owned by private entities and classified into two types. [1]

Conventional PCBs

In total, 33 conventional PCBs are now operating in the industry. They perform the banking functions in a conventional fashion i.e. interest-based operations. [1]

Islami Shariah Based PCBs

There are 10 Islami Shariah-based PCBs in Bangladesh and they execute banking activities according to Islami Shariah-based principles i.e. Profit-Loss Sharing (PLS) mode. [1]

Amalgamation

In April 2024, the central bank of Bangladesh issued banking merger policy for merger of weak banks with strong banks – both voluntary and mandatory. [2] Following merger process are ongoing: [3]

Foreign commercial banks (FCBs)

In total, 9 FCBs are operating in Bangladesh as the branches of the banks which are incorporated in abroad. [1]

Non-scheduled banks

Non-scheduled banks are licensed only for specific functions and objectives and do not offer the same range of services as scheduled banks. There are now 5 non-scheduled banks in Bangladesh which are:

Ansar VDP Unnayan Bank, Karmashangosthan Bank, Grameen Bank, Jubilee Bank, Palli Sanchay Bank

Non-bank financial institutions (NBFIs)

Non-bank financial institutions (NBFIs), known as financial institutions (FIs), are those types of financial institutions that are regulated under the Financial Institution Act, of 1993 and controlled by Bangladesh Bank. Now, 34 FIs operate in Bangladesh while the maiden one was established in 1981. Out of the total, two are fully government-owned, one is the subsidiary of a SOCB, 15 were initiated by private domestic initiatives and 15 were initiated by joint venture initiatives. [1]

NBFI's include: [4]

Specialized financial institutions (semi-formal sector)

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<span class="mw-page-title-main">Uttara Bank PLC.</span>

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Motijheel is a central business district and a thana of Dhaka, Bangladesh. It is Dhaka's primary central business district, and also the nation's largest commercial and financial hub. Motijheel, located immediately adjacent to Dhaka's zero point, has the largest number of offices in Dhaka. Motijheel CBD also has one of the highest concentrations of high-rise buildings in Bangladesh. It has thus earned the title of the downtown and city centre of Dhaka and as the bankpara-officepara in Bengali.

<span class="mw-page-title-main">Non-bank financial institution</span> Institution without a full banking license

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<span class="mw-page-title-main">Banking in Bangladesh</span>

Bangladesh is a developing country with an impoverished banking system, particularly in terms of the services and customer care provided by the government run banks. In recent times, private banks are trying to imitate the banking structure of the more developed countries, but this attempt is often foiled by inexpert or politically motivated government policies executed by the central bank of Bangladesh, Bangladesh Bank. The outcome is a banking system fostering corruption and illegal monetary activities/laundering etc. by the politically powerful and criminals, while at the same time making the attainment of services or the performance of international transactions difficult for the ordinary citizens, students studying abroad or through distance learning, general customers etc.

<span class="mw-page-title-main">Bangladesh Institute of Bank Management</span>

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<span class="mw-page-title-main">United Finance</span> Bangladeshi public financial services company

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<span class="mw-page-title-main">Bangladesh Commerce Bank</span> Private Bank in Bangladesh

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<span class="mw-page-title-main">IDLC Finance Limited</span> Bangladeshi financial services company

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Aviva Finance Limited is a sharia complaint major non-bank financial institution in Bangladesh. It was formerly called Reliance Finance Limited. Mohammed Saiful Alam is the chairman of Aviva Finance Limited and also S. Alam Group. The former managing director of Reliance Finance Limited, Proshanta Kumar Halder, embezzled from Reliance and other financial institutions in Bangladesh through fraudulent loans. According to the Anti-Corruption Commission Proshanta Kumar Halder stole 102 billion taka. The Daily Star gave Proshanta Kumar Halder the name sultan of swindle.

Fareast Finance and Investment (FFIL) is a major non-bank financial institution in Bangladesh providing leasing and loans. It is listed on the Dhaka Stock Exchange.

Khondkar Ibrahim Khaled was a Bangladeshi economist and former Deputy Governor of Bangladesh Bank. In 2011, Bangla Academy awarded him an honorary fellowship.

LankaBangla Finance PLC. is a licensed non-banking financial company in Bangladesh. Mohammad A. Moyeen is the chairman of LankaBangla Finance Limited. Khwaja Shahriar is the CEO and managing director of LankaBangla Finance Limited.

Union Capital Limited is a major Non-bank financial institutions of Bangladesh based in Dhaka. It is listed on the Dhaka Stock Exchange and the Chittagong Stock Exchange.

Bangladesh Finance and Investment Company Limited, also known as BD Finance or Bangladesh Finance Limited, is a non-bank financial institution in Bangladesh. Manwar Hossain is the chairman Bangladesh Finance and Investment Company Limited and Md Kyser Hamid is the CEO and managing director.

References

  1. 1 2 3 4 5 6 7 8 9 "Financial System". Central Bank of Bangladesh. Retrieved 29 August 2018.
  2. ↑ "Cenbank issues bank merger policy for first time". The Business Standard . 4 April 2024.
  3. ↑ "National Bank set to merge with UCBL". Dhaka Tribune . 9 April 2024.
  4. ↑ "Relevant links". Central Bank of Bangladesh. Retrieved 29 August 2018.
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