Bangladesh Development Bank
Bangladesh Development Bank is a state-owned specialised commercial bank in Bangladesh.[1] The bank has one of the highest loan default rates in Bangladesh.[2][3] Shamima Nargis is the chairperson of the bank.[4] Kazi Alamgir is the chief executive officer and managing director of the bank.[5]
Type | State-owned bank, Public Limited Company |
---|---|
Industry | Development Bank Bank Capital Markets and allied industries |
Founded | Dhaka, 16 November 2009 |
Number of locations | 48 |
Key people |
|
Products | Retail banking, private banking, corporate banking, deposits, mortgage loan, savings scheme, Sanchay Scheme, trade and retail forex |
Total assets | ৳54.55 billion (US$510 million) |
Number of employees | About 745 |
Parent | Government of Bangladesh (100%) |
Subsidiaries | BDBL Securities Limited (BSL) BDBL Investment Services Limited (BISL) |
Website | www |
History
Bangladesh Development Bank was established on 16 November 2009 as a Public Limited Company by merging the state-owned Bangladesh Shilpa Bank with the Bangladesh Shilpa Rin Sangstha; both were established on 31 October 1972.[6][7] Bangladesh Development Bank started in 2010 with 534 court cases concerning 21 billion taka and 24.6 billion taka in written off liabilities.[1]
Santi Narayan Ghosh was appointed chairperson of the Bangladesh Development Bank in September 2012.[8]
In 2016, former managing director of Karmasangsthan Bank, Mushtaque Ahmed, and former deputy managing director of Rupali Bank Limited, Md Abu Hanif Khan, were appointed directors of Bangladesh Development Bank.[9]
The bank has had issues with loan defaulting, as of 2018, the total defaulted loans at the bank stood at 23.32 billion taka.[10] On 11 June 2019, the Anti-Corruption Commission sued for officials of the bank for allegedly embezzling 250 million taka from the bank.[11] The commission arrested the former general manager of the bank, Syed Nurur Rahman Kadri, from Dhaka in November 2019.[12] Other officials accused by commission were Dewan Mohammad Ishak, Assistant General Manager, and Dinesh Chandra Saha, principal officer, in the embezzlement case by Dhaka Trading and its owner Tipu Sultan .[13]
On 28 November 2019, Kazi Alamgir, former managing director of Rajshahi Krishi Unnayan Bank, was appointed managing director of Bangladesh Development Bank.[14] On 26 February 2019, Mohammad Mejbahuddin was appointed chairperson of the bank.[15] The headquarters of the bank caught fire in October 2020.[16] AHM Mustafa Kamal, Minister of Finance, considered merging Bangladesh Development Bank and BASIC Bank in 2021.[17] In November 2021, Shamima Nargis was appointed chairperson of the bank.[18]
In 2022, Bangladesh Development Bank signed an agreement with Bank Asia to work with Western Union for remittance.[19] It is part of a consortium of six banks financing the Bashundhara Gold Refinery of Bashundhara Group.[20][21]
Board of directors
Name | Designation | Reference |
---|---|---|
Shamima Nargis | Chairperson | [22] |
Md. Ekhlasur Rahman | Director | [22] |
Md. Abu Hanif Khan | Director | [22] |
Subhash Chandra Sarker | Director | [22] |
Quazi Shairul Hassan | Director | [22] |
Md. Azizur Rahman | Director | [22] |
Kazi Alamgir | CEO and Managing Director | [22] |
References
- "Development Bank takes off". The Daily Star. 2010-01-04. Retrieved 2019-08-03.
- Uddin, AKM Zamir (2022-08-14). "Dozen banks hold about 60pc default loans". The Daily Star. Retrieved 2022-10-20.
- "Defaulted loans in 16 banks above 10pc". New Age. Retrieved 2022-10-20.
- "Bangladesh Development Bank Limited (BDBL)". bdbl.portal.gov.bd. Retrieved 2022-10-20.
- "Bangladesh Development Bank Limited (BDBL)". bdbl.portal.gov.bd. Retrieved 2022-10-20.
- "BDBL | Objectives". www.bdbl.com.bd. Archived from the original on 2014-09-07. Retrieved 2019-08-03.
- "Bangladesh Development Bank starts journey Jan 3". The Daily Star. 2009-12-08. Retrieved 2019-08-03.
- "Bangladesh Development Bank gets new chairman". The Daily Star. 2012-09-07. Retrieved 2022-10-20.
- "BDBL appoints new directors". The Daily Star. 2016-01-24. Retrieved 2022-10-20.
- "A loan defaulting epidemic: Over two lakh privileged institutions!". The Daily Star (Opinion). 2018-09-18. Retrieved 2019-08-03.
- "4 BDBL officials sued for embezzling Tk 25cr". The Daily Star. 2019-06-11. Retrieved 2019-08-03.
- "Bangladesh Development Bank: ACC arrests former GM over Tk 174cr graft". The Daily Star. 2019-11-18. Retrieved 2022-10-20.
- "Tk 22.5cr loan taken out thru fake contract". The Daily Star. 2020-09-09. Retrieved 2022-10-20.
- "Bangladesh Development Bank gets new CEO". The Daily Star. 2019-11-28. Retrieved 2022-10-20.
- "New chairman for BDBL". The Daily Star. 2019-02-26. Retrieved 2022-10-20.
- "Fire erupts at BDBL building in Dhaka's Karwan Bazar". bdnews24.com. Retrieved 2022-10-20.
- "BASIC Bank, BDBL merger on cards". The Daily Star. 2021-06-11. Retrieved 2022-10-20.
- "Shamima Nargis new BDBL chairman". The Daily Star. 2021-11-15. Retrieved 2022-10-20.
- "Bangladesh Development Bank, Bank Asia sign deal". The Daily Star. 2022-09-02. Retrieved 2022-10-20.
- "6 banks move to finance Bashundhara Gold Refinery". New Age. Retrieved 2022-10-20.
- Uddin, AKM Zamir (2022-02-11). "BB asks state banks to rope in more private lenders". The Daily Star. Retrieved 2022-10-20.
- "Bangladesh Development Bank Limited (BDBL)". www.bdbl.com.bd. Retrieved 2022-10-20.