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License from the Authority is mandatory to operate microfinance operation in Bangladesh as an NGO. On September 28, 2012 at the Alliance for Financial Inclusion 's Global Policy Forum 2012, the bank made a commitment under the Maya Declaration to promote agent and mobile banking, implement consumer protection initiatives, and establish a credit ...
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.
Grameen Bank (Bengali: গ্রামীণ ব্যাংক) is a microfinance, specialized community development bank founded in Bangladesh. [5] [6] It provides small loans (known as microcredit or "grameencredit") [7] to the impoverished without requiring collateral. Grameen Bank is a statutory public authority.
The sectors have been categorized in accordance with their degree of regulation. The formal sector includes all regulated institutions like banks, non-bank financial institutions (FIs), insurance companies, capital market Intermediaries like brokerage houses, merchant banks etc.; micro finance institutions (MFIs).
Mahtab Uddin Ahmed, former CEO of Robi, joined BD Finance as a director in 2023. [18] Fatema Begum, the first woman police officer and former additional inspector general of Bangladesh police, was appointed director of BD Finance. [19] Its profit declined 75 percent in 2023 due to lower income from interest and a decrease in return on ...
In 2011, ASA, together with Grameen Bank and BRAC, accounted for 62 per cent of Bangladesh's 18.5 million micro-borrowers and 69 per cent of the sector's gross loan portfolio. [17] At the industry level, overall average borrower numbers and portfolios have been rising steadily, ASA's active borrower accounts in 2008 and 2009 fell by 32 percent.
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.
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