Standard_Bank_Limited

Standard Bank Limited

Standard Bank Limited

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Standard Bank Limited is a private commercial bank in Bangladesh.[4] founder by Kazi Akram Uddin Ahmed chairman of the bank and Kamal Mostafa Chowdhury is the founder vice-chairman and director of the bank.[5] It stands among the least proficient banks in its performance.

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History

The bank was founded on 3 June 1999, with an approved capital of 750 million taka.[4] Kazi Akram Uddin Ahmed was the founding chairman of the bank.[6]

In July 2004, Standard Bank provided 100 million BDT credit to International Leasing and Financial Services Limited.[7]

The Bank decided provide a 12 per cent dividend in 2007 at the 9th annual general meeting at the BDR Darbar Hall presided by chairman Kazi Akramuddin Ahmed.[8]

Mamun-Ur-Rashid was appointed managing director of the bank in October 2016.[9]

The Anti-Corruption Commission filed a case against former managing director of Standard Bank Limited, Mamun Ur Rashid, and seven other officials of Sachetan Sahajjo Songstha and Standard Bank Limited for misappropriating 40 million BDT from the Bank in February 2021.[10] Senior Special Judge Md Asaduzzaman of the Dhaka Metropolitan Court sent former managing director of Standard Bank Limited, Mamun Ur Rashid, to jail in a case over the embezzlement of 40 million BDT from the bank in October 2022.[11]

Standard Bank Limited decided to switch to Sharia complaint banking from traditional banking; it remained close for four days in December 2020 to make the transition.[12]

Standard Bank comes to sport 2020 when its layoff employees during the pandemic.[13]

In 2021, a group of Standard Bank employees filed a complaint with the Bangladesh Bank alleging that the bank was violating labor laws. The complaint alleged that Standard Bank was forcing employees to work overtime without pay and that it was discriminating against pregnant women and women with young children. The Bangladesh Bank is still investigating the complaint.

In 2022, a group of Standard Bank employees staged a protest against the bank's management. The protesters alleged that the bank was failing to pay overtime wages to employees and that it was providing inadequate training and support to employees. The protest was eventually resolved, but it highlighted the concerns that some employees have about the way they are treated at Standard Bank.[citation needed]

In January 2023, Standard Bank Limited donated 40 million takas to the relief fund of Prime Minister Sheikh Hasina.[14] Kazi Khurram Ahmed, son of the Kazi Akram Uddin Ahmed, chairman of Standard Bank Limited, was elected vice-chairman of the bank.[15]

Financial services

  • SME Banking
  • Retails Banking
  • Card Service (Credit & Debit)
  • Foreign Exchange & Related Services
  • Probashi Banking
  • Agent Banking
  • Islami Banking

References

  1. [1]
    "Standard Bank plans big". The Daily Star.
  2. [2]
    "Board of Directors". Standard Bank.
  3. [3]
    "Gulzar Ahmed elected chairman of Executive Committee (EC) of Standard Bank Limited". The Business Standar. 4 April 2023.
  4. [4]
    Rahman, S M Mahfuzur. "Standard Bank Limited". Banglapedia. Retrieved 17 November 2016.
  5. [5]
    "Standard Bank plans big". Standard Bank.
  6. [6]
    "Southeast University and chakri.com Present Job Fair 2017". The Daily Star. 2017-11-24. Retrieved 2023-01-15.
  7. [7]
    "Standard Bank extends Tk 150m credit facility to Int'l Leasing". The Daily Star. Retrieved 2023-01-15.
  8. [8]
    "Standard Bank declares 12pc dividend". The Daily Star. 2008-08-03. Retrieved 2023-01-15.
  9. [9]
    "New MD of Standard Bank". The Daily Star. 2016-10-03. Retrieved 2023-01-15.
  10. [10]
    "Misappropriation of Tk 4 crore: ACC sues Standard Bank ex-MD, 7 others". The Daily Star. 2021-02-04. Retrieved 2023-01-15.
  11. [11]
    "Embezzlement of Tk 4 crore: Standard Bank Limited ex-MD sent to jail". The Daily Star. 2022-10-30. Retrieved 2023-01-15.
  12. [12]
    "Standard morphing into Shariah-based bank". The Daily Star. 2020-12-28. Retrieved 2023-01-15.
  13. [13]
    "3,313 bankers quit in 19 months". Dhaka Tribune. 15 September 2021.
  14. [14]
    "Standard Bank donates Tk4 crore to PM's shelter scheme". The Business Standard. 2023-01-15. Retrieved 2023-01-15.
  15. [15]
    "Kazi Khurram Ahmed elected vice chairman of Standard Bank". The Business Standard. 2023-01-04. Retrieved 2023-01-15.
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