Financial Institution in Bangladesh

Topics: Bank, Financial services, Dhaka Pages: 8 (1756 words) Published: April 15, 2011
Financial Institution in Bangladesh

The financial system in Bangladesh includes Bangladesh Bank (the Central Bank), scheduled banks, non-bank financial institutions, microfinance institutions (MFIs), insurance companies, co-operative banks, credit rating agencies and stock exchange. Among scheduled banks there are 4 nationalized commercial banks (NCBs), 5 state-owned specialized banks (SBs), 30 domestic private commercial banks (PCBs), 9 foreign commercial banks (FCBs) and 29 nonblank financial institutions (NBFIs) as of December 2006. However, Rupali Bank, an NCB is being sold to a foreign buyer, and once this transaction is completed, the country will have only 3 NCBs. Which are being corporative. Over and above the institutions cited above, three development financial institutions namely House Building Finance Corporation (HBFC), Ansar- VDP Unnayan Bank and Karma Shangsthan Bank are operating in Bangladesh, all of which arestate owned.

List of Commercial banks in Bangladesh

The commercial banking system dominates Bangladesh's financial sector. Bangladesh Bank is the Central Bank of Bangladesh and the chief regulatory authority in the sector. The banking system is composed of four state-owned commercial banks, five specialized development banks, thirty private commercial Banks and nine foreign commercial banks. The Nobel-prize winning Grameen Bank is a specialized micro-finance institution, which revolutionized the concept of micro-credit and contributed greatly towards poverty reduction and the empowerment of women in Bangladesh.

[pic] Central Bank

• Bangladesh Bank
Pursuant to 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.

State-owned Commercial Banks

The banking system of Bangladesh is dominated by the 4 Nationalized Commercial Banks , which together controlled more than 54% of deposits and operated 3388 branches (54% of the total) as of December 31, 2004. The nationalized commercial banks are: Specialised Bank of Bangladesh:

1. Karmosangesthan Bank
2. Bangladesh Krishi Bank
3. Sonali Bank
4. Janata Bank
5. Agrani Bank
6. Rupali Bank

Private Commercial Banks

Private banks are the highest growth sector due to the dismal performances of government banks (above). They tend to offer better service and products. 1. AB Bank Ltd
2. BRAC Bank Limited
3. Eastern Bank Limited
4. Dutch Bangla Bank Limited
5. Dhaka Bank Limited
6. Islami Bank Bangladesh Ltd
7. Pubali Bank Limited
8. Uttara Bank Limited
9. IFIC Bank Limited
10. National Bank Limited
11. The City Bank Limited
12. United Commercial Bank Limited
13. NCC Bank Limited
14. Prime Bank Limited
15. SouthEast Bank Limited
16. Al-Arafah Islami Bank Limited
17. Social Islami Bank Limited
18. Standard Bank Limited
19. One Bank Limited
20. Exim Bank Limited
21. Mercantile Bank Limited
22. Bangladesh Commerce Bank Limited
23. Mutual Trust Bank Limited
24. First Security Islami Bank Limited
25. The Premier Bank Limited
26. Bank Asia Limited
27. Trust Bank Limited
28. Shahjalal Islami Bank Limited
29. Jamuna Bank Limited
30. ICB Islami Bank
31. Moon Bank Limited
32. Bank Limited

Foreign Commercial Banks

1. Citibank na
3. Standard Chartered Bank
4. Commercial Bank of Ceylon
5. State Bank of India
6. Habib Bank
7. National Bank of Pakistan
8. Wo Bank
9. Bank Alfalah

Specialized Development Banks

Out of the specialized banks, two (Bangladesh Krishi Bank and Rajshahi Krishi Unnayan Bank) were created to meet the credit needs of the agricultural sector while the other two ( Bangladesh Shilpa Bank...
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