The private bank of Bangladesh has played an emerging role in Bangladesh to accelerate the economic growth of the country. These private initiatives are helping industrial sectors of Bangladesh to expand the business and industry to create jobs for the people of Bangladesh. The private bank of Bangladesh is an immense source of fund of the financial system of the state. The Government also works to engage the citizen or entrepreneur to take the service form the Bank to develop their lifestyle and becoming an industrialist thronging their effort and knowledge.
The bank is the main motioning power of the economy of any country. The banking system accelerated the business transaction and bringing transparency in the financial activities. Basically, the Bank is two types: (1) regulatory bank (2) scheduled Bank.
Usually, Bangladesh has two types of banks . Which has serving the people and accelerates economic activities of the country. Schedule Bank and another is Non-Scheduled Bank, but both of the banks has supervised by the central bank of Bangladesh which is called Bangladesh Bank. So Bangladesh Bank is the regulation of all scheduled banks, which was established by Bangladesh Bank Order, 1972 and the Bank Company Act, 1991. Currently, Bangladesh has 61 Scheduled Bank which is classified as below types.
Bangladesh has 6 State-owned Banks (SOCBs) which are fully or majorly owned by the Government of Bangladesh.
It is also called in short (SOCBs). Bangladesh has 3 specialized Bank, which was established for specialized services like agriculture and industrial development. These banks' maximum or full ownership is occupied by the government of Bangladesh to serve people successively.
Private commercial banks have been established by individuals or a group of private entrepreneurs. Private Bank are accelerate the economic growth and create new business scope. It was launched under the Bangladesh Bank act. Banking industry achieve a significant expansion with the entrance of private banks in the 1980. There has 43 private commercial private Bank. Private banks in Bangladesh are two types
There are 33 conventional PCBs that are now operating in the industry. They perform the banking functions in conventional fashion. example interest-based operations.
That Bank executes banking activities, according to Islami Shariah-based principles, i.e. Profit-Loss Sharing (PLS) mode. There are 10 Islami Shariah-based PCBs in Bangladesh.
Foreign Commercial Banks (FCBs): 9 FCBs are operating in Bangladesh as the branches of the banks which are incorporated abroad.
Copy of National ID card of the candidate, Passport size photograph, Nominee, Nominees ID and his picture, E-TIN (if any), Passport copy ( If any), etc.
An Applicant required following documents for open a Bank account for his business: Trade License of the organization, E-TIN photocopy, account operator National ID card, account operator picture (for Proprietorship Company).
Bangladeshi private commercial bank has designed various types of banking services for retail customers to develop their lifestyle develop. Here is mentioned few loan product of retails customer Auto and Car Loan, House Renovation Loan, Medical Treatment Loan, Education Loan, Marriage Loan, Hajj Loan, Household Appliance Loan, Festival Loan
Here is given some information about Islami law base private banks:
|Title||Private Bank in Bangladesh|
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