| Karmasangsthan Bank | |
| Type: | State owned |
| Foundation: | Dhaka, Bangladesh |
| Location: | Dhaka |
| Key People: | MD. Nurul Amin (Chairman) Shirin Akhter (Managing Director) |
| Industry: | Banking |
| Products: | Banking services Consumer Banking Corporate Banking Investment Banking |
| Homepage: | Karmasangsthan Bank |
Karmasangsthan Bank is a specialised government owned bank in Bangladesh. The bank was founded to finance the unemployed to set up small enterprises.[1] [2] [3] Ansar-VDP Unnayan Bank and the Probashi Kallyan Bank are two specialised banks like the Karmasangsthan Bank in Bangladesh.[4] MD. Nurul Amin is the present chairperson of the Karmasangsthan Bank.
The bank was founded in 1998 by the Awami League government,[5] with an approved capital of 3 billion taka. The Karmasangsthan Bank was established as per Karmasangsthan Bank Act No.7 of 1998. The bank was founded to increase income of people in rural areas of Bangladesh.[6] According to Sahara Khatun the bank was neglected after the Bangladesh Nationalist Party came to power.
Dewan Mujibur Rahman was appointed managing director of Karmasangsthan Bank in September 2004.[7]
In August 2007, Karmasangsthan Bank donated 416 thousand taka to the Chief Adviser's Relief and Welfare Fund.[8]
The highest interest rate charged by the bank in 2010 was 10 per cent.[9]
Maniruzzaman Khandker, tax advisor to Prime Minister Sheikh Hasina and director of Midland Bank Limited, was the managing director of the bank in 2012.[10] [11]
In January 2014, Bangladesh Bank ordered Karmasangsthan Bank to not open new branches and set a series of conditions the bank must meet.[12]
Kaniz Fatema was appointed chairman of the bank in April.[13] Kazi Sanaul Hoq was appointed managing director of Karmasangsthan Bank in August 2019.[14] It provides funding to workers training institutes.[15]
Md Tajul Islam was appointed managing director of Karmasangsthan Bank in January 2020.[16] The government of Bangladesh announced a loan of 20 billion taka to be distributed to Karmasangsthan Bank, Palli Sanchay Bank, Palli Karma Sahayak Foundation, and Probashi Kallyan Bank.[17]
Prime Minister Sheikh Hasina said the bank was providing interest free loans to unemployed youth to start businesses in May 2021.[18] It received part of a 15 billion taka grant from the government of Bangladesh.[19]
Shirin Akhtar was appointed managing director of the bank in January 2022.[20] Md Nurul Amin was appointed chairman of Karmasangsthan Bank in May 2022.[21]
Mr. Md. Sayedul Islam, Former Secretary of the People's Republic of Bangladesh appointed as the Chairman of Karmasangsthan Bank and joined on 18 May 2023.
| Mr. Md. Sayedul Islam | Chairman | [22] | |
| Mr. Arijit Chowdhury | Director | ||
| Mr. Md. Saidur Rahman | Director | ||
| Dr. Gazi Md. Saifuzzaman | Director | ||
| Mr. Abu Saleh Mohammed Ferdous Khan | Director | ||
| Mr. Mohammad Mamunul Hoque | Director | ||
| Mr. Arun Kumar Chowdhury | Managing Director | ||
| Mrs. Jebunnahar Nasrin | Secretary |