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Palli Sanchay Bank
Palli Sanchay Bank (), Rural Savings Bank, is a state owned bank in Bangladesh. Md. Akram-Al-Hossain is the chairman of the bank. Khondoker Ataur Rahman is the managing director of the bank. History On 2 July 2014, the Government of Bangladesh passed the Palli Sanchay Act 2014 to form the Palli Sanchay Bank. The bank was modeled after Grameen Bank, which was founded by Muhammad Yunus. According to the act, the government of Bangladesh would own 51 percent of the shares and members of Ektee Bari Ektee Khamar project (One House, One Farm project) would own rest of the shares. The bank would start with 10 billion taka authorised capital and 2 billion taka paid-up capital. The proposal for the bank was opposed by Bangladesh Bank and Bank and Financial Institutions Division of the Ministry of Finance. They recommended that instead of a bank, a financial institute be created. They believed that bank would fail to do its purpose like other specialised banks. The move to create the bank ... [...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] |
Banking
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 a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Retail Banking
Retail banking, also known as consumer banking or personal banking, is the provision of services by a bank to the general public, rather than to companies, corporations or other banks, which are often described as wholesale banking. Banking services which are regarded as retail include provision of savings and transactional accounts, mortgages, personal loans, debit cards, and credit cards. Retail banking is also distinguished from investment banking or commercial banking. It may also refer to a division or department of a bank which deals with individual customers. In the U.S., the term commercial bank is used for a ''normal'' bank to distinguish it from an investment bank. After the Great Depression, the Glass–Steagall Act restricted normal banks to banking activities, and investment banks to capital market activities. That distinction was repealed in the 1990s. Commercial bank can also refer to a bank or a division of a bank that deals mostly with deposits and loans from co ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Commercial Bank
A commercial bank is a financial institution which accepts deposits from the public and gives loans for the purposes of consumption and investment to make profit. It can also refer to a bank, or a division of a large bank, which deals with corporations or a large/middle-sized business to differentiate it from a retail bank and an investment bank. Commercial banks include private sector banks and public sector banks. History The name ''bank'' derives from the Italian word ''banco'' "desk/bench", used during the Italian Renaissance era by Florentine bankers, who used to carry out their transactions on a desk covered by a green tablecloth. However, traces of banking activity can be found even in ancient times. In the United States, the term commercial bank was often used to distinguish it from an investment bank due to differences in bank regulation. After the Great Depression, through the Glass–Steagall Act, the U.S. Congress required that commercial banks only engage in ba ... [...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] |
Grameen Bank
Grameen Bank ( bn, গ্রামীণ ব্যাংক) is a microfinance organisation and community development bank founded in Bangladesh. It makes small loans (known as microcredit or "grameencredit") to the impoverished without requiring collateral. Grameen Bank originated in 1976, in the work of Professor Muhammad Yunus at University of Chittagong, who launched a research project to study how to design a credit delivery system to provide banking services to the rural poor. In October 1983 the Grameen Bank was authorised by national legislation to operate as an independent bank. The bank grew significantly between 2003 and 2007. As of January 2011, the total borrowers of the bank number 8.4 million, and 97% of those are women. In 1998 the Bank's "Low-cost Housing Program" won a World Habitat Award. In 2006, the bank and its founder, Muhammad Yunus, were jointly awarded the Nobel Peace Prize. History Muhammad Yunus was inspired during the Bangladesh famine o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Muhammad Yunus
Muhammad Yunus (born 28 June 1940) is a Bangladeshi social entrepreneur, banker, economist and civil society leader who was awarded the Nobel Peace Prize for founding the Grameen Bank and pioneering the concepts of microcredit and microfinance. These loans are given to entrepreneurs too poor to qualify for traditional bank loans. Yunus and the Grameen Bank were jointly awarded the Nobel Peace Prize "for their efforts through microcredit to create economic and social development from below". The Norwegian Nobel Committee said that "lasting peace cannot be achieved unless large population groups find ways in which to break out of poverty" and that "across cultures and civilizations, Yunus and Grameen Bank have shown that even the poorest of the poor can work to bring about their own development". Yunus has received several other national and international honours. He received the United States Presidential Medal of Freedom in 2009 and the Congressional Gold Medal in 2010. In 2008 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ektee Bari Ektee Khamar Project
Ektee Bari Ektee Khamar project () (one house, one farm, project) is a Bangladesh government social welfare program designed to promote farming and welfare in rural Bangladesh and reduce rural poverty Rural poverty refers to poverty in rural areas, including factors of rural society, rural economy, and political systems that give rise to the poverty found there.Janvry, A. de, E. Sadoulet, and R. Murgai. 2002“Rural Development and Rural Pol ... in Bangladesh through small loans. Akber Hossain is the project director in charge. It is an initiative of Prime Minister Sheikh Hasina. History The Ektee Bari Ektee Khamar project was established in 2009, with an initial budget of 14.9 billion taka. The project has provided financing to 21.8 million people and formed about 90,000 Village Development Associations. The government matches the savings, up to 200 taka per month, of Village Development Associations members. In 2016, its budget was increased to 80 billion taka. The associat ... [...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] |
Bank And Financial Institutions Division
The Financial Institutions Division () is a Bangladesh government The Cabinet of Bangladesh ( bn, বাংলাদেশের মন্ত্রিসভা) is the chief executive body of the People's Republic of Bangladesh. The cabinet is the collective decision-making body of the entire government under ... division under the Ministry of Finance responsible for managing all state owned banks, financial institutions, and stock exchanges. Md. Sheikh Mohammad Salim Ullah is the head of the division. History Financial Institutions Division on 8 June 2010 by taking over some of the responsibilities of the Finance Division. References 2010 establishments in Bangladesh Organisations based in Dhaka Government agencies of Bangladesh Government departments of Bangladesh {{Bangladesh-org-stub ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ministry Of Finance (Bangladesh)
The Ministry of Finance ( bn, অর্থ মন্ত্রণালয়; ''Artho Montronaloya'') is a ministry of Bangladesh. The ministry is responsible for state finance, including the state budget, taxation and economic policy in Bangladesh. It is led by the Finance Minister of Bangladesh. The department must report to the Parliament of Bangladesh. It contains four divisions: * Finance Division * Economic Relations Division * Internal Resources Division * Bank and Financial Institutions Division Directorate i) Finance Division: * Office of the Controller General of Accounts *Investment Corporation of Bangladesh *The Security Printing Corporation (Bangladesh) Ltd. * Financial Management Reform Program *Comptroller and Auditor General of Bangladesh *Bangladesh House Building Finance Corporation * Pay and Services Commission 2013 * National Savings Certificate (Bangladesh) ii) Economic Relations Division iii) Internal Resources Division *Bangladesh Customs * Chittago ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Upazila
An ''upazila'' ( bn, উপজেলা, upôzela, lit=sub-district pronounced: ), formerly called ''thana'', is an administrative region in Bangladesh, functioning as a sub-unit of a district. It can be seen as an analogous to a county or a borough of Western countries. Rural upazilas are further administratively divided into union council areas (union parishads). Bangladesh ha495 upazilas(as of 20 Oct 2022). The upazilas are the second lowest tier of regional administration in Bangladesh. The administrative structure consists of divisions (8), districts (64), upazilas (495) and union parishads (UPs). This system of devolution was introduced by the former military ruler and president of Bangladesh, Lieutenant General Hossain Mohammad Ershad, in an attempt to strengthen local government. Below UPs, villages (''gram'') and ''para'' exist, but these have no administrative power and elected members. The Local Government Ordinance of 1982 was amended a year later, redesignatin ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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