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Sheikh Abdul Hye Bacchu resigned as chairman of the bank following 4.5 billion taka in defaulted loans on 5 July 2014. [7] Basic Bank fired its managing director, Kazi Faqurul Islam, in 2015 over financial irregularities at the bank following an investigation by Bangladesh Bank. [8] BASIC Bank Limited is one of seven state owned banks in ...
The newly independent government immediately designated the Dhaka branch of the State Bank of Pakistan as the central bank and renamed it the Bangladesh Bank. [9] The bank was responsible for regulating currency, controlling credit and monetary policy, and administering exchange control and the official foreign exchange reserves. [9]
In 2022, many media outlets reported that the bank was giving out loans to suspicious businesses without proper verification. [24] [25] A 24 year old received a 9 billion BDT loan from Islami Bank Bangladesh Limited a month after he established the company, MediGreen. [25] MediGreen had applied for the loan 14 days after registering. [25]
People's Leasing and Financial Services Limited was established on 12 August 1996 and received its license from Bangladesh Bank on 24 November 1997. [6] In 2010, the People's Leasing and Financial Services Limited received permission from Bangladesh Securities and Exchange Commission to issue shares on the stock exchange. [7]
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 ...
On 7 April 1972, after the Bangladesh Liberation War and the eventual independence of Bangladesh, the Government of Bangladesh passed the Bangladesh Bank Order, (P.O. No. 127 of 1972), reorganising the Dhaka branch of the State Bank of Pakistan as Bangladesh Bank, the country's central bank and apex regulatory body for the country's monetary and financial system.
In 2015, Bangladesh Anti Corruption Commission sued Bismillah Group’s Managing Director Khaza Solaiman Anwar Chowdhury for embezzling 1.1 billion Taka from Shahjalal Islami Bank Limited and 14 others including four employees of the bank. [8] In June, AK Azad, chairman of Ha-Meem Group, was elected chairman of Shahjalal Islami Bank Limited. [9]
In June, the Bank had 19.54 billion BDT in bad loans accounting for 9.63 per cent of all loans of the bank. [20] In November, Bangladesh Bank appointed Md Shazzad Hossoin, an official of Bangladesh Bank, to one bank as an observer. [20] One Bank reduced their CEO pay following decline in profit in 2021. [21]