Community Bank Bangladesh Explained

Community Bank Bangladesh PLC.
Type:Public limited company
Location:Dhaka, Bangladesh
Key People:IGP Chowdhury Abdullah Al-Mamun (Chairman)
Masihul Huq Chowdhury (Managing Director & CEO)
Industry:Banking
Products:Banking services

Community Bank Bangladesh PLC. is one of the newly approved Scheduled Banks of Bangladesh.[1] This bank is fully owned by Bangladesh Police Welfare Trust.[2] Masihul Huq Chowdhury is the CEO and Managing Director of the Bank.[3] The board meetings of the bank is held at the headquarters of Bangladesh Police.[4] The Inspector General of Police, Chowdhury Abdullah Al-Mamun, is the chairman of the bank.[5]

History

On 23 May 2018, Bangladesh Police Welfare Trust applied for a license from Bangladesh Bank to open a bank named Community Bank Bangladesh Limited. The trust is owned by Bangladesh Police. Bangladesh Bank approved the license application of the Bank in October 2018.[6] The Bank was officially listed on 4 November 2018.[7] Finance Minister of Bangladesh, Abul Maal Abdul Muhith, criticised Bangladesh Bank for approving Community Bank Bangladesh, Citizens Bank PLC, Bengal Commercial Bank Limited, and People's Bank Limited.[8] He expressed unhappiness as he believed the banks were approved on political considerations.

Community Bank Bangladesh Limited started its operation on 11 September 2019, inaugurated by the Prime Minister of Bangladesh Sheikh Hasina.[9] [10] [11]

In November 2021, Masihul Huq Chowdhury was reappointed the managing director of Community Bank Bangladesh Limited.[12]

Board of directors

!Name!Position!Profession!Reference
Chowdhury Abdullah Al-MamunChairmanInspector General of Police[13]
S. M. Ruhul AminDirectorAdditional Inspector General
Md. Mazharul IslamDirectorAdditional Inspector General
M. Khurshid HossainDirectorAdditional Inspector General
Hasan Ul HaiderDirectorAdditional Inspector General
Monirul IslamDirectorAdditional Inspector General
Md. Mahabubor RahmanDirectorAdditional Inspector General
Habibur RahmanDirectorAdditional Inspector General
Md. Aminul IslamDirectorDeputy Inspector General
Md. Mahbubur Rahman BhuiyanDirectorDeputy Inspector General
Quazi Zia UddinDirectorDeputy Inspector General
Shoeb Reaz AlamDirectorAdditional Deputy Inspector General
Sufian AhmedDirectorSuperintendent of Police
B. M. Forman AliDirectorInspector and president of Bangladesh Police Association
Masud KhanIndependent DirectorChairman of Unilever Consumer Care Limited
Kazi Masihur RahmanIndependent DirectorFormer managing director of Mercantile Bank Limited
Abdullah Al MahmudIndependent DirectorProfessor at University of Dhaka
Masihul Huq ChowdhuryManaging Director

See also

Notes and References

  1. News: BB approves Community Bank . 30 October 2018 . The Daily Star . 1 November 2018.
  2. News: Central bank approves Community Bank Bangladesh Ltd . 2018-10-29 . banglanews24.com . en . 2019-04-11 . 11 April 2019 . https://web.archive.org/web/20190411160517/https://www.banglanews24.com/articles/71873/p . dead .
  3. News: 'Our aim is to provide credit small and medium sized enterprises and encourage entrepreneurship' . 2019-02-06 . Dhaka Tribune . 2019-04-11.
  4. News: 2022-11-02 . Community Bank Bangladesh holds 35th Board Meeting . 2022-11-28 . The Business Standard . en.
  5. News: 2022-09-26 . Community Bank holds 34th Board Meeting . 2022-11-28 . The Business Standard . en.
  6. News: Bangladesh Bank gives police nod for Community Bank, rejects three other banks . Harmachi . Abdur Rahim . bdnews24.com . 2019-04-11.
  7. News: Community Bank Bangladesh of police becomes 59th scheduled bank . New Age . en . 2019-04-11.
  8. News: 2018-11-02 . I am very unhappy . 2022-11-28 . The Daily Star . en.
  9. News: PM opens Community Bank Bangladesh . Press Information Department . Dhaka Tribune . 12 September 2019.
  10. News: PM opens Community Bank . The Daily Star . 12 September 2019.
  11. News: Prime Minister inaugurates Community Bank Bangladesh Limited . Daily Sun . 11 September 2019 . en.
  12. News: 2021-11-22 . Masihul reappointed Community Bank MD . 2022-11-28 . The Daily Star . en.
  13. Web site: Board of Directors . 2022-11-28 . Community Bank Bangladesh Limited . en-US.