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[1] [2] [3] Established in 1988, it started its operation initially as a project of the Bangladesh Bank. Since April 1992, it is running its business as an autonomous organization constituted under the existing law of the country. [4] [5] It is the regular member of International Government Printers Association.
Offshore Banking Operation (OBO) was first introduced by Bangladesh Bank in 1985 through a circular for allowing active foreign financing at Export Processing Zones (EPZs). Banks operated the services with Bangladesh Bank approval without any separate law for an offshore banking system until the enactment of the Offshore Banking Act, 2024.
On 5 June 2024, the Bangladesh High Court issued a verdict that canceled the government notification, declaring it illegal, thus restoring the quota in Bangladesh Civil Service recruitment. [10] A descendant of a freedom fighter and six others appealed the verdict in 2021 to challenge the government order canceling the quota system. [11]
The Institute of Bankers was registered on the 6 February 1973 as an association under the Societies Registration Act, 1660 (Act No. XXI of 1660). [2] Before that some eminent bankers and other professionals decided, in a meeting held on 26 July 1972, to establish the institute as a professional body of banks and financial institutions in Bangladesh.
BASIC Bank Limited is one of seven state owned banks in Bangladesh. [9] In 2016 the finance minister in a statement described the state of the bank as weak due to graft by top officials of the bank and would require some time for improvement. [10] Sonali Bank UK Ltd and other international banks had censured Basic bank over irregularities. [11]
Bangladesh Bank is the central bank of Bangladesh and the chief regulatory authority in the banking sector. 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 ...
The unit was founded as the Anti-Money Laundering Department of Bangladesh Bank in June 2002. The name of the department was changed to Bangladesh Financial Intelligence Unit on 25 January 2012 through the Money Laundering Prevention Act, 2012. [5] Asia/Pacific Group on Money Laundering recommended the government to form the unit. [6]
In February 2005, the chairman of the bank, Abu Zafar Chowdhury, defended the bank from Bangladesh Bank which questioned the use of bank in the name of Dhaka Mercantile Co-Operative Bank Limited. [6] On 11 July 2007, Group Captain Abu Zafar Chowdhury was re-elected chairman of Dhaka Mercantile Co-Operative Bank Limited. [7]