Bangladesh is a third world country with an under developed banking system, particularly in terms of the services and customer

care provided by the government run banks. Recently the 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..

The Pakistani banking system at independence (14 August 1947) consisted of two branch offices of the former State Bank of Pakistan and seventeen large commercial banks, two of which were controlled by Bangladeshi interests and three by foreigners other thanWest Pakistanis. There were fourteen smaller commercial banks.

The formally known State Bank of Pakistan was renamed as Bangladesh Bank right after Bangladeshs independence. The Bangladesh Bank automatically became official foreign exchange reserve institute. It was too accountable for currency control, monitoring exchange and credit control. In the early 1970s, the government decided to permit foreign banks to continue their business and nationalize the local banks. In that very decade of 1970s, the primary concern of the government was to develop the countrys agricultural industry. This resulted in the Krishi Bank extending loans to more farmers. In the later decades, however, the countys focus shifted to industrialization; resulting in various difficulties in the economic growth process. Lack of proper private activity guidelines and proper methods on loan giving were more significant of these problems. It was not until the late 1980s that these difficulties were being overcome and compensated for the agro sector. However the financial institutions failed to recover the loans the industrial sector. Interestingly, Grameen Bank has set an ideal example of how things should be managed during this devastating time. The bank gave out small amount of loans to the poor population in order for themselves to be self-employed. The selection process for giving out these loans was extraordinary. They gave loans mostly to women who were subordinated; these women became self-employed and hence paid back when were helped with guidance to run their business. In the mid 1980s, the government adopted new policies for recovery. It did not work. Governmentowned banks continued to fail on recovering the loans. In the 1990s, many private banks started to emerge. Local group of companies became aggressive in investment so the money flow was rather big. Bangladesh Bank played key role in managing these private banks with modern outlook. As consciences the banking sector grew many folds. Throughout the 2000s, governments maintained positive economic policies. The economy grew, so did the Bangladesh's banking sector and business sector. Since 2011 however, many banking

scams took place, mainly at government owned banks. This created a bad vibe which is still to recover from.

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.

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. Banks

After the independence, banking industry in Bangladesh started its journey with 6 nationalized commercialized banks, 2 State owned specialized banks and 3 Foreign Banks. In the 1980s banking industry achieved significant expansion with the entrance of private banks. Now, banks in Bangladesh are primarily of two types: Scheduled Banks: The banks which get license to operate under Bank Company Act, 1991 (Amended in 2003) are termed as Scheduled Banks. Non-Scheduled Banks: The banks which are established for special and definite objective and operate under the acts that are enacted for meeting up those objectives, are termed as Non-Scheduled Banks. These banks cannot perform all functions of scheduled banks.

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. Here is the list Uttara Bank Limited Dhaka Bank Limited United Commercial Bank Limited Mutual Trust Bank Limited BRAC Bank Limited Eastern Bank Limited Dutch Bangla Bank Limited

Pubali Bank Limited IFIC Bank Limited National Bank Limited The City Bank Limited NCC Bank Limited Mercantile Bank Limited Prime Bank Limited Southeast Bank Limited Standard Bank Limited One Bank Limited Bangladesh Commerce Bank Limited The Premier Bank Limited Bank Asia Limited Trust Bank Limited Jamuna Bank Limited AB Bank Limited NRB Commercial Bank Limited NRB Bank Limited Meghna Bank Limited Farmers Bank Limited Modhumoti Bank Limited South Bangla Agriculture and Commerce Bank Ltd

There are 8 Islamic Commercial Banks: Islami Bank of Bangladesh Limited Shahjalal Islami Bank Limited First Security Islami Bank Limited Export Import Bank of Bangladesh Limited Al-Arafah Islami Bank Limited Social Islami Bank Limited ICB Islamic Bank Union Bank Limited

Foreign commercial banks

9 foreign commercial banks are operating in Bangladesh. These are: Citibank NA HSBC Standard Chartered Bank Commercial Bank of Ceylon State Bank of India Habib Bank Limited

National Bank of Pakistan Woori Bank Bank Alfalah

Specialized development banks

Specialized Banks (SDBs): 4 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. Bangladesh Krishi Bank Rajshahi Krishi Unnayan Bank Bangladesh Development Bank Ltd BASIC Bank Limited (Bangladesh Small Industries and Commerce Bank Limited)

Land development banks

Progoti Co-operative Land Development Bank Limited (progoti Bank)

Non-banking financial institutions

Cosmopolitan Finance Limited (CFL) Uttara Finance and Investments Limited United Leasing Company Limited (ULCL) Union Capital Limited The UAE-Bangladesh Investment Co. Ltd Saudi-Bangladesh Industrial & Agricultural Investment Company Limited (SABINCO) Reliance Finance Limited Prime Finance & Investment Ltd Premier Leasing & Finance Limited Phoenix Finance and Investments Limited People's Leasing and Financial Services Ltd National Housing Finance and Investments Limited National Finance Ltd MIDAS Financing Ltd. (MFL) LankaBangla Finance Ltd. Islamic Finance and Investment Limited International Leasing and Financial Services Limited Infrastructure Development Company Limited (IDCOL) Industrial Promotion and Development Company of Bangladesh Limited(IPDC) Industrial and Infrastructure Development Finance Company (IIDFC) Limited IDLC Finance Limited Hajj Finance Company Limited GSP Finance Company (Bangladesh) Limited (GSPB)

First Lease Finance & Investment Ltd. FAS Finance & Investment Limited Fareast Finance & Investment Limited Delta Brac Housing Finance Corporation Ltd. (DBH) Bay Leasing & Investment Limited Bangladesh Industrial Finance Company Limited (BIFC) Bangladesh Finance & Investment Co. Ltd. Agrani SME Finance Co. Ltd.

Bangladeshi Bank Name List and Details

Bangladesh entered the independence banking system after the liberation war in dec 16, 1971. Bangladesh have four state of composed banking system. Owned commercial bank, Private commercial bank, specialized development bank and Foreign commercial bank.

Another bank-Grameen Bank which is a specialized micro finance institution.

Bangladeshi Central Bank Name

Bangladesh Bank

Bangladesh Bank is the central bank of Bangladesh. Which established Dec 16, 1971 after the liberation war.

Bangladeshi Private Commercial Bank Name

AB Bank
Arab Bangladesh Bank Limited. Established on 12 April, 1984.

Agrani Bank Limited

First started on 1972 continued as a public sector bank and entered the private sector on 17 May, 2007.

Al-Arafah Islami Bank Limited

Bangladesh Commerce Bank Limited

Bangladesh Development Bank Limited

Bank Asia Limited

BASIC Bank LImitied

Bangladesh Small Industries and Commerce Bank Limited

BRAC Bank Limited

City Bank

Dhaka Bank Limited Dutch Bangla Bank Limited

Eastern Bank Limited

City Bank Limited

Export Import Bank of Bangladesh Limited

First Security Islami Bank Limited

ICB Islami Bank Limited

International Finance Invest and Commerce Bank Limited

Islami Bank Bangladesh Limited

Jamuna Bank Limited

Janata Bank Limited

Bangladesh Krishi Bank

Mercantile Bank Limited

Mutual Trust Bank Limited

National Bank Limited

National Credit and Commerce Bank Limited

The Premier Bank Limited

One Bank Limited

Pubali Bank Limited

Prime Bank Limited

Rajshahi Krishi Unnayan Bank Limited

Shajalal Islami Bank Limited

Social Islami Bank Limited

Rupali Bank Limited

Sonali Bank Limited

Southeast Bank Limited

Standard Bank Limited

United Commercial Bank Limited

Trust Bank Limited

Uttara Bank Limited

Bangladesh Govt. also permitted six(6) new bank to operate, Beside on 2012.

Name of the Six New Bank South Bangla agriculture and Commerce Bank Union Bank

The Farmers Bank Meghna Bank Modhumati Bank Midland Bank Bangladeshi Foreign Commercial Bank
Standard Chartered Bank Limited National Bank of Pakistan

The Hongkong and Shanghai Banking Corporation Limited

Bank Al-Falah Limited

Commercial Bank of Ceylon Limited

Habib Bank Limited

ICICI Bank

State Bank of India

Woori Bank

Citi Bank

Specialized Development Bank of Bangladesh

Karmasangshtan Bank BASIC Bank Limited Grameen Bank Ansar VDP Unnayan Bank

Bangladesh Somobay Bank Limited

Bangladesh Krishi Bank Rajshahi Krishi Unnayan Bank Bangladevelopment Bank Limited

Progoti Co-operative Landmortgage Bank Limited