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BASIC Bank
BASIC Bank Limited (founded as Bangladesh Small Industries and Commerce Bank) is a fully government owned bank in Bangladesh which was founded on 2 August 1988. The bank was founded to finance small enterprises. Abul Hashem is chairman of the bank. Md. Anisur Rahman is the managing director of the bank. More than 45 billion taka loan was defaulted from the bank, many of the loans were to companies that existed on paper only, with the support of former chairperson Sheikh Abdul Hye Bachhu. 100 borrowers accounted for 86 percent of the defaulted loans. History BASIC Bank Limited was established on 2 August 1988 began operations from 21 January 1989. It was owned by BCC Foundation, which owned 70 percent of the shares, and the government of Bangladesh, which owned the remaining 30 percent of the shares. On 4 June 1992, BCCI, which owned BCC Foundation, closed and the government of Bangladesh took over 100 percent ownership. In December 2003, Basic Bank signed an agreement with Int ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Dhaka
Dhaka ( or ; bn, ঢাকা, Ḍhākā, ), formerly known as Dacca, is the capital and largest city of Bangladesh, as well as the world's largest Bengali-speaking city. It is the eighth largest and sixth most densely populated city in the world with a population of 8.9 million residents as of 2011, and a population of over 21.7 million residents in the Greater Dhaka Area. According to a Demographia survey, Dhaka has the most densely populated built-up urban area in the world, and is popularly described as such in the news media. Dhaka is one of the major cities of South Asia and a major global Muslim-majority city. Dhaka ranks 39th in the world and 3rd in South Asia in terms of urban GDP. As part of the Bengal delta, the city is bounded by the Buriganga River, Turag River, Dhaleshwari River and Shitalakshya River. The area of Dhaka has been inhabited since the first millennium. An early modern city developed from the 17th century as a provincial capital and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bangladesh Bank
Bangladesh Bank ( bn, বাংলাদেশ ব্যাংক) is the central bank of Bangladesh and is a member of the Asian Clearing Union. It is fully owned by the Government of Bangladesh. The bank is active in developing green banking and financial inclusion policy and is an important member of the Alliance for Financial Inclusion. Bangladesh Financial Intelligence Unit (BFIU), a department of Bangladesh Bank, has got the membership of Egmont Group of Financial Intelligence Units. Bangladesh Bank is the first central bank in the world to introduce a dedicated hotline (16236) for people to complain about any banking-related problem. Moreover, the organisation is the first central bank in the world to issue a "Green Banking Policy". To acknowledge this contribution, then-governor Dr. Atiur Rahman was given the title 'Green Governor' at the 2012 United Nations Climate Change Conference, held at the Qatar National Convention Centre in Doha. History On 7 April 1972, af ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Banks Of Bangladesh
A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. Because banks play an important role in financial stability and the economy of a country, most jurisdictions exercise a high degree of regulation over banks. Most countries have institutionalized a system known as fractional reserve banking, under which banks hold liquid assets equal to only a portion of their current liabilities. In addition to other regulations intended to ensure liquidity, banks are generally subject to minimum capital requirements based on an international set of capital standards, the Basel Accords. Banking in its modern sense evolved in the fourteenth century in the prosperous cities of Renaissance Italy but in many ways functioned as a continuation of ideas and concepts of credit and lending that had their roots in the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bangladesh Development Bank Limited
Bangladesh Development Bank is a state-owned specialised commercial bank in Bangladesh. The bank has one of the highest loan default rate in Bangladesh. Shamima Nargis is the chairperson of the bank. Kazi Alamgir is the Chief Executive Officer and managing director of the bank. 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. Bangladesh Development Bank started in 2010 with 534 court cases concerning 21 billion taka and 24.6 billion taka in written off liabilities. Santi Narayan Ghosh was appointed chairperson of the Bangladesh Development Bank in September 2012. 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. The bank has had issues ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mahjabeen Morshed
Mahjabeen Morshed (born 22 March 1969) is a Jatiya Party politician and a former Jatiya Sangsad member from women reserved seats. Career Morshed was elected to parliament from women reserve seat-45 in 2014 as a Jatiya Party candidate. On 10 January 2018, Bangladesh Anti-Corruption Commission sued her and her husband, Murad Ibrahim, for embezzling 2.75 billion taka from BASIC Bank Limited. Her husband is the Managing Director of Crystal Steel and Ship Breaking Limited; the loans were taken under the company name. She served as the President of Chittagong City Chittagong ( /ˈtʃɪt əˌɡɒŋ/ ''chit-uh-gong''; ctg, চিটাং; bn, চিটাগং), officially Chattogram ( bn, চট্টগ্রাম), is the second-largest city in Bangladesh after Dhaka and third largest city in B ... unit of Jatiya Party but was removed from the post after she was sued by Bangladesh Anti-Corruption Commission. References Living people 1969 births Jatiya Party pol ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Jatiya Party (Ershad)
The Jatiya Party ( bn, জাতীয় পার্টি, translit=Jatiyo Party, lit=National Party) is a conservative, nationalist political party in Bangladesh and is currently the main opposition in the Jatiya Sangsad, against the Awami League. The current chairman of the party is Ghulam Muhammad Quader. On 3 January 2019, the party announced its decision to join the Bangladesh Awami League-led Grand Alliance after having been in opposition for the previous parliamentary term. However, the party backtracked the next day and announced that it intended to remain part of the opposition. Currently, it holds Rangpur out of Bangladesh's 12 city corporations. History The party was established by a retired army officer, Hussain Mohammad Ershad on 1 January 1986. He was the Chief of Army Staff of Bangladesh Army. He had seized power through a coup d'état on 24 March 1982. He ruled the country as chief martial law administrator till December 1983. Politics was banned durin ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sheikh Abdul Hye Bacchu
Sheikh Abdul Hye Bacchu is a Bangladesh Jatiya politician and former Member of Parliament from Bagerhat-1. Career Bachchu was elected to parliament from Bagerhat-1 as a candidate of Jatiya Party in 1988. He claimed to have a close ties with Prime Minister Sheikh Hasina. In 2011 he opened a deep sea fishing company, Eden Fisheries Ltd, and by 2013 had bought 11 ships for 1.5 billion taka. Bachchu served as the chairman of Basic Bank from September 2009 to 2013. Basic Bank is a state owned bank in Bangladesh. Controversy During Bachchu's chairmanship more than 20 billion taka was embezzled from the bank. In 2015 Bangladesh Anti Corruption Commission filled 56 cases regarding the corruption in the bank. According to Bangladesh Bank, 45 billion taka in total was embezzled from the bank from 2010 to 2013, during the chairmanship of Bachchu. In July 2017 Bangladesh High Court ordered Bangladesh Anti Corruption Commission to investigate his alleged role in the Basic Bank scam. He wa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Anti-Corruption Commission (Bangladesh)
The Anti Corruption Commission ( bn, দুর্নীতি দমন কমিশন) ''often abbreviated:'' ACC ( bn, দুদক) is the principal government agency against corruption in Bangladesh. History The Anti Corruption Commission was formed through an act promulgated on 23 February 2004 that came into force on 9 May 2004. Although initially, it could not make the desired impact, but immediately following its reconstitution in February 2007, the ACC began working with renewed vigor and impetus duly acceding to the United Nations' convention against corruption that was adopted by the General Assembly away back on 31 October 2003. Its framework and function is governed by Anti-Corruption Commission Act, 2004. In 2009, Ghulam Rahman was appointed chairman of the commission, replacing Hasan Mashhud Chowdhury. Anti Corruption Commission was formed through an act in 2004, but is considered to be largely ineffective in investigating and preventing corruption because of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
International Leasing And Financial Services Limited
International Leasing and Financial Services Limited is a major non-bank financial institution in Bangladesh. Md. Nazrul Islam Khan is the chairman and Md. Mashiur Rahman is the managing director of International Leasing and Financial Services Limited. Proshanta Kumar Halder, a banker and known as "Sultan of swindle", had according to media reports embezzled 30 billion taka from the institute and according to Bangladesh Bank 15.69 billion taka. The fraud was aided Amitav Adhikary, a cousin of Proshanta Kumar Halder and senior management at International Leasing and Financial Services Limited. History International Leasing and Financial Services Limited was established in 1996. The institution received licence from the government of Bangladesh on 19 February 1996. On 5 July 2004, Standard Bank Limited 150 million taka loan to International Leasing and Financial Services Limited. In 2007, Dr Salehuddin Ahmed, Governor of Bangladesh Bank ordered the monitoring of nine non-banking ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bangladesh
Bangladesh (}, ), officially the People's Republic of Bangladesh, is a country in South Asia. It is the eighth-most populous country in the world, with a population exceeding 165 million people in an area of . Bangladesh is among the most densely populated countries in the world, and shares land borders with India to the west, north, and east, and Myanmar to the southeast; to the south it has a coastline along the Bay of Bengal. It is narrowly separated from Bhutan and Nepal by the Siliguri Corridor; and from China by the Indian state of Sikkim in the north. Dhaka, the capital and largest city, is the nation's political, financial and cultural centre. Chittagong, the second-largest city, is the busiest port on the Bay of Bengal. The official language is Bengali, one of the easternmost branches of the Indo-European language family. Bangladesh forms the sovereign part of the historic and ethnolinguistic region of Bengal, which was divided during the Partition of India in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sheikh Abdul Hye Bachchu
Sheikh Abdul Hye Bacchu is a Bangladesh Jatiya politician and former Member of Parliament from Bagerhat-1. Career Bachchu was elected to parliament from Bagerhat-1 as a candidate of Jatiya Party in 1988. He claimed to have a close ties with Prime Minister Sheikh Hasina. In 2011 he opened a deep sea fishing company, Eden Fisheries Ltd, and by 2013 had bought 11 ships for 1.5 billion taka. Bachchu served as the chairman of Basic Bank from September 2009 to 2013. Basic Bank is a state owned bank in Bangladesh. Controversy During Bachchu's chairmanship more than 20 billion taka was embezzled from the bank. In 2015 Bangladesh Anti Corruption Commission filled 56 cases regarding the corruption in the bank. According to Bangladesh Bank, 45 billion taka in total was embezzled from the bank from 2010 to 2013, during the chairmanship of Bachchu. In July 2017 Bangladesh High Court ordered Bangladesh Anti Corruption Commission to investigate his alleged role in the Basic Bank scam. He wa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Investment Banking
Investment banking pertains to certain activities of a financial services company or a corporate division that consist in advisory-based financial transactions on behalf of individuals, corporations, and governments. Traditionally associated with corporate finance, such a bank might assist in raising financial capital by underwriting or acting as the client's agent in the issuance of debt or equity securities. An investment bank may also assist companies involved in mergers and acquisitions (M&A) and provide ancillary services such as market making, trading of derivatives and equity securities, FICC services ( fixed income instruments, currencies, and commodities) or research (macroeconomic, credit or equity research). Most investment banks maintain prime brokerage and asset management departments in conjunction with their investment research businesses. As an industry, it is broken up into the Bulge Bracket (upper tier), Middle Market (mid-level businesses), and boutique ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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