bank and ngo in bangladesh
About
The banking sector is one of the most important components of the financial system that mobilises resources for productive investments in a country which in turn contributes to economic development. The banking sector in Bangladesh has flourished during the last three decades or so as a result of increased demand of the growing economy. During this period, the banking sector has also undergone several reforms and fallen under the jurisdiction of a number of acts in a bid to improve the efficiency of the sector.
Nevertheless, the sector is yet to improve its performance in terms of trust and confidence of people as shocks hit the sector from time to time in a major way. Among these, the issue of governance in the banking sector has currently been under the spotlight in the context of the Hall-Mark scam which has been the biggest financial crime in the history of Bangladesh's banking sector. Given the contribution of the banking sector to the overall development of the country, such processes of misappropriating public resources can have serious implications for economic growth of the country.
Growth in last decade
Islamic banking
In 1978, Bangladesh government subscribed to the recommendations of the Islamic Foreign Minister’s conference held in Senegal regarding systematic efforts to set up Islamic banks in the member countries in phases. Following this and after the organisational efforts undertaken the first Islamic Bank was set up in Bangladesh in 1983 - Islamic Bank Bangladesh Limited.
Presently, there are 8 Islamic Banks in Bangladesh and 13 Conventional Banks which have Islamic Banking facilities. The conventional banks also include Standard Chartered Bank. The Islamic Banking market has grown tremendously over the last decade and as at September 2012 holds 17 per cent of the Deposits and 21 per cent of Assets of the market in Bangladesh. Islamic Banks are accounted for 25 per cent of export and import of the country. Around 37 per cent
The banking sector is one of the most important components of the financial system that mobilises resources for productive investments in a country which in turn contributes to economic development. The banking sector in Bangladesh has flourished during the last three decades or so as a result of increased demand of the growing economy. During this period, the banking sector has also undergone several reforms and fallen under the jurisdiction of a number of acts in a bid to improve the efficiency of the sector.
Nevertheless, the sector is yet to improve its performance in terms of trust and confidence of people as shocks hit the sector from time to time in a major way. Among these, the issue of governance in the banking sector has currently been under the spotlight in the context of the Hall-Mark scam which has been the biggest financial crime in the history of Bangladesh's banking sector. Given the contribution of the banking sector to the overall development of the country, such processes of misappropriating public resources can have serious implications for economic growth of the country.
Growth in last decade
Islamic banking
In 1978, Bangladesh government subscribed to the recommendations of the Islamic Foreign Minister’s conference held in Senegal regarding systematic efforts to set up Islamic banks in the member countries in phases. Following this and after the organisational efforts undertaken the first Islamic Bank was set up in Bangladesh in 1983 - Islamic Bank Bangladesh Limited.
Presently, there are 8 Islamic Banks in Bangladesh and 13 Conventional Banks which have Islamic Banking facilities. The conventional banks also include Standard Chartered Bank. The Islamic Banking market has grown tremendously over the last decade and as at September 2012 holds 17 per cent of the Deposits and 21 per cent of Assets of the market in Bangladesh. Islamic Banks are accounted for 25 per cent of export and import of the country. Around 37 per cent