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List of banks in Bangladesh

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The banking 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

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. Other than the Central Bank itself, banks in Bangladesh are primarily categorized into 2 types. They are Scheduled Banks and Non-Scheduled Banks.[1]

Scheduled banks

Scheduled banks are licensed under the Bank Company Act, 1991 (Amended up to 2013). Currently, there are 60 scheduled banks in Bangladesh.[1]

State owned banks (SOBs)

State owned commercial banks (SOCBs)

There are 6 state owned commercial banks (SOCBs) which 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 42 PCBs in Bangladesh are in operation right now. They are majorly owned by private entities and classified into two types.[1]

Conventional PCBs

In total 34 conventional PCBs are now operating in the industry. They perform the banking functions in conventional fashion i.e. interest based operations.[1]

Islami Shariah Based PCBs

There are 11 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]

Foreign commercial banks (FCBs)

In total 09 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.[1]

Non-bank financial institutions (NBFIs)

Non-bank financial institutions (NBFIs), simply known as financial institutions (FIs), are those types of financial institutions which are regulated under Financial Institution Act, 1993 and controlled by Bangladesh Bank. Now, 34 FIs are operating in Bangladesh while the maiden one was established in 1981. Out of the total, 2 is fully government owned, 1 is the subsidiary of a SOCB, 15 were initiated by private domestic initiative and 15 were initiated by joint venture initiative.[1]

NBFI's include:[2]

Specialized financial institutions (semi formal sector)

References

  1. ^ a b c d e f g h i j "Financial System". Central Bank of Bangladesh. Retrieved 29 August 2018.
  2. ^ "Relevant links". Central Bank of Bangladesh. Retrieved 29 August 2018.
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