Bangladesh_Development_Bank_Ltd.

Bangladesh Development Bank

Bangladesh Development Bank

Government-owned bank

Bangladesh Development Bank PLC. is a state-owned commercial bank in Bangladesh.[1] The bank has one of the highest loan default rates in Bangladesh.[2][3]

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History

Bangladesh Development Bank PLC. 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.[4][5] 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.[6]

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.[7]

The bank has had issues with loan defaulting, as of 2018, the total defaulted loans at the bank stood at 23.32 billion taka.[8] On 11 June 2019, the Anti-Corruption Commission sued for officials of the bank for allegedly embezzling 250 million taka from the bank.[9] The commission arrested the former general manager of the bank, Syed Nurur Rahman Kadri, from Dhaka in November 2019.[10] 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 .[11]

On 27 November 2022, Md. Habibur Rahman Gazi was appointed managing director of Bangladesh Development Bank.[12] On 26 February 2019, Mohammad Mejbahuddin was appointed chairperson of the bank.[13] The headquarters of the bank caught fire in October 2020.[14] AHM Mustafa Kamal, Minister of Finance, considered merging Bangladesh Development Bank and BASIC Bank in 2021.[15] In November 2021, Shamima Nargis was appointed chairperson of the bank.[16]

In 2022, Bangladesh Development Bank signed an agreement with Bank Asia to work with Western Union for remittance.[17] It is part of a consortium of six banks financing the Bashundhara Gold Refinery of Bashundhara Group.[18][19]

Board of directors

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References

  1. [1]
    "Development Bank takes off". The Daily Star. 2010-01-04. Retrieved 2019-08-03.
  2. [2]
    Uddin, AKM Zamir (2022-08-14). "Dozen banks hold about 60pc default loans". The Daily Star. Retrieved 2022-10-20.
  3. [3]
    "Defaulted loans in 16 banks above 10pc". New Age. Retrieved 2022-10-20.
  4. [4]
    "BDBL | Objectives". www.bdbl.com.bd. Archived from the original on 2014-09-07. Retrieved 2019-08-03.
  5. [5]
    "Bangladesh Development Bank starts journey Jan 3". The Daily Star. 2009-12-08. Retrieved 2019-08-03.
  6. [6]
    "Bangladesh Development Bank gets new chairman". The Daily Star. 2012-09-07. Retrieved 2022-10-20.
  7. [7]
    "BDBL appoints new directors". The Daily Star. 2016-01-24. Retrieved 2022-10-20.
  8. [8]
    "A loan defaulting epidemic: Over two lakh privileged institutions!". The Daily Star (Opinion). 2018-09-18. Retrieved 2019-08-03.
  9. [9]
    "4 BDBL officials sued for embezzling Tk 25cr". The Daily Star. 2019-06-11. Retrieved 2019-08-03.
  10. [10]
    "Bangladesh Development Bank: ACC arrests former GM over Tk 174cr graft". The Daily Star. 2019-11-18. Retrieved 2022-10-20.
  11. [11]
    "Tk 22.5cr loan taken out thru fake contract". The Daily Star. 2020-09-09. Retrieved 2022-10-20.
  12. [12]
    "Bangladesh Development Bank gets new CEO". The Daily Star. 2022-11-28. Retrieved 2022-10-20.
  13. [13]
    "New chairman for BDBL". The Daily Star. 2019-02-26. Retrieved 2022-10-20.
  14. [14]
    "Fire erupts at BDBL building in Dhaka's Karwan Bazar". bdnews24.com. Retrieved 2022-10-20.
  15. [15]
    "BASIC Bank, BDBL merger on cards". The Daily Star. 2021-06-11. Retrieved 2022-10-20.
  16. [16]
    "Shamima Nargis new BDBL chairman". The Daily Star. 2021-11-15. Retrieved 2022-10-20.
  17. [17]
    "Bangladesh Development Bank, Bank Asia sign deal". The Daily Star. 2022-09-02. Retrieved 2022-10-20.
  18. [18]
    "6 banks move to finance Bashundhara Gold Refinery". New Age. Retrieved 2022-10-20.
  19. [19]
    Uddin, AKM Zamir (2022-02-11). "BB asks state banks to rope in more private lenders". The Daily Star. Retrieved 2022-10-20.
  20. [20]
    "Bangladesh Development Bank Limited (BDBL)". www.bdbl.com.bd. Retrieved 2022-10-20.
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