Thursday, July 21, 2011

Bank Develops Bangladesh

The Role of Banks in Economic Development of Bangladesh:

Banks have played major roles in the economic development of the country. Most of the credit related schemes of the government to uplift the poorer and the under privileged sections have been implemented through the banking sector. The role of he banks have been important, but it is going to be even more important in the future.

Banks in Bangladesh:
The commercial banking system dominates Bangladesh's financial sector. Bangladesh Bank is the Central Bank of Bangladesh and the chief regularity authority in the sector. The banking system is composed of four state owned commercial banks, five specialized development banks, thirty private commercial banks and nine commercial foreign banks. The noble prize winning Grameen Bank is a specialized micro-finance institution, which revolutionized the concept of micro credit and contributed greatly towards poverty reduction and the empowerment of women in Bangladesh. Sonali Bank is the largest among the nationalized banks, while Pubali Bank is the leading in the private ones. Among the foreign banks Standard Chartered has become the largest one across the country.

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