Company type | State owned |
---|---|
Industry | Banking |
Founded | Dhaka, Bangladesh |
Headquarters | Dhaka |
Key people | MD. Nurul Amin (Chairman) Shirin Akhter (Managing Director) |
Products | Banking services Consumer Banking Corporate Banking Investment Banking |
![]() | |
Website | Karmasangsthan Bank |
Karmasangsthan Bank (lit. 'Employment Bank') (Bengali: কর্মসংস্থান ব্যাংক) 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.
History
The bank was founded in 1998 by the Awami League government,[5] with an approved capital of 3 billion taka.[1] The Karmasangsthan Bank was established as per Karmasangsthan Bank Act No.7 of 1998. [1] 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.[5]
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.
Board of directors
Name | Position | Reference |
---|---|---|
Mr. Md. Sayedul Islam | Chairman | [22] |
Mr. Arijit Chowdhury | Director | [22] |
Mr. Md. Saidur Rahman | Director | [22] |
Dr. Gazi Md. Saifuzzaman | Director | [22] |
Mr. Abu Saleh Mohammed Ferdous Khan | Director | [22] |
Mr. Mohammad Mamunul Hoque | Director | [22] |
Mr. Arun Kumar Chowdhury | Managing Director | [22] |
Mrs. Jebunnahar Nasrin | Secretary | [22] |
References
- ^ a b c Mazid, Muhammad Abdul. "The Karmasangsthan Bank". Banglapedia. Retrieved 17 November 2016.
- ^ Sultana, Sayma (12 November 2016). "Entrepreneurship: A solution for unemployment". The Financial Express. Bangladesh. Retrieved 19 May 2020.
- ^ "Karmasangsthan Bank observes Sheikh Russell Day". The Business Standard. 19 October 2022. Retrieved 9 November 2022.
- ^ Byron, Rejaul Karim (2 October 2013). "Finance ministry says no to specialised bank like Grameen". The Daily Star. Retrieved 9 November 2022.
- ^ a b Bss, Dhaka (1 August 2010). "Evil forces out to foil war crimes trial". The Daily Star. Retrieved 9 November 2022.
- ^ "Central bank opposes plan for new specialised bank". Dhaka Tribune. Retrieved 17 November 2016.
- ^ "New MD of Mercantile Bank". The Daily Star. Retrieved 9 November 2022.
- ^ "More aid for flood victims". The Daily Star. Retrieved 9 November 2022.
- ^ Byron, Rejaul Karim (24 May 2010). "Expatriates' bank in sight". The Daily Star. Retrieved 9 November 2022.
- ^ "Sponsors of new banks under NBR scanner". The Daily Star. 24 December 2012. Retrieved 9 November 2022.
- ^ Byron, Rejaul Karim (9 April 2012). "Nod to 6 more new banks". The Daily Star. Retrieved 9 November 2022.
- ^ "Specialised banks face restrictions in opening branches". The Daily Star. 2 January 2014. Retrieved 9 November 2022.
- ^ "Karmasangsthan Bank gets new chairman". The Daily Star. 19 April 2019. Retrieved 9 November 2022.
- ^ "Karmasangsthan Bank gets new MD". The Daily Star. 25 August 2019. Retrieved 9 November 2022.
- ^ "Achieving sustainable development through entrepreneurship and innovation". The Daily Star. 4 April 2019. Retrieved 9 November 2022.
- ^ "Karmasangsthan Bank gets new MD". The Daily Star. 6 January 2020. Retrieved 9 November 2022.
- ^ Habib, Wasim Bin; Alamgir, Mohiuddin (12 June 2020). "Not so good news for the jobless". The Daily Star. Retrieved 9 November 2022.
- ^ "Take up fish farming". The Daily Star. UNB. 23 May 2021. Retrieved 9 November 2022.
- ^ Byron, Rejaul Karim; Alam, Helemul (26 July 2021). "Dealing with Pandemic Fallout: Over 17 lakh get govt cash support". The Daily Star. Retrieved 9 November 2022.
- ^ "Shirin becomes Karmasangsthan Bank MD". New Age. Retrieved 9 November 2022.
- ^ "Karmasangsthan Bank gets new chairman". The Daily Star. 9 May 2022. Retrieved 9 November 2022.
- ^ a b c d e f g h "Karmasangsthan Bank". www.kb.gov.bd. Retrieved 9 November 2022.
External links