NRB Bankis one of the fourth-generation private banks in Bangladesh.Mohammed Mahtabur Rahman,chairman of Al Haramain Perfumes, is the chairman of the NRB Bank.[2]Mohammed Jamil Iqbal and Tateyama Kabir are vice-chairmen of the NRB Bank.[3]Mehmood Husain is the CEO and managing director of NRB Bank.[4]
| Company type | Public |
|---|---|
| Industry | Banking |
| Founded | 2013 |
| Founder | Iqbal Ahmed(OBE) |
| Headquarters | Dhaka,Bangladesh |
Area served | Bangladesh |
Key people | [1] |
| Services | Banking Financial services |
| Website | www |
History
editMigrants Bangladeshis were demanding such type of bank since 1990s. However,Md. Bayazid Sarkeran economist and Central Bank official of Bangladesh first develop a theoretical structure of the bank and officially floated the idea in his research paper titled "Alternative Resource of World Bank for External Financing in Bangladesh: A Foreign Remittance Approach" on 15 December 2007 inDhaka.[5]Bangladesh Bank called for NRB bank applications in 2011 and finally issued three NRB Bank (Non-resident BangladeshisBank) licenses in 2013; the NRB Banks areNRB Commercial Bank Limited,NRB Bank Limited andNRB Global Bank Limited.[6][7]There is no differences between the operations of a regular bank and a NRB bank.[8]
In 2014, NRB Bank provided a loan to Mohammad Shahed, Chairman of Regent Hospital, without proper collateral.[9]Anti-Corruption Commission filled two cases over the loans in 2020 against Shahed and bank officials.[9][10]
In May 2015, Bangladesh Bank provided NRB Bank permission to operate agent banking.[11]
Md Mehmood Husain was appointed managing director of NRB Bank on 1 August 2016.[4]
Md Mukhter Hossain, CEO and managing director of NRB Commercial Bank, was appointed an advisor to NRB Bank on 5 May 2021.[12]
In September 2021, a special internal audit of NRB Bank found that the bank engaged in "unethical" investments in the stock marketing causing harm to both the bank, a loss of 1.03 billion taka, and the stock market.[13][14]Bangladesh Bank finned the bank 4.9 million taka over the investments and market manipulation.[15][16][17]Chief financial officer of NBR Bank was terminated.[18]It also announced plans in September 2021 its intention to start an IPO soon.[19]On 27 September 2021, theAnti-Corruption Commissionfiled charges against M Badiuzzaman, Director of NRB Bank, and his wife for allegedly embezzling 25.3 million taka from the bank.[20]
In November 2021, Bangladesh Securities and Exchange Commission began an investigation into the activities of NRB Bank.[21]
References
edit
- ^"Mahtabur Rahman new chairman of NRB Bank".The Independent.Dhaka.Retrieved29 March2017.
- ^"NRB Bank re-elects chairman".The Daily Star.27 June 2019.Retrieved1 January2022.
- ^"NRB Bank reelects vice chairmen".The Daily Star.1 September 2021.Retrieved1 January2022.
- ^ab"Mehmood Husain, new CEO of NRB Bank".The Daily Star.3 August 2016.Retrieved1 January2022.
- ^Sarker,M.B. (2010). Bangladesh Economic Association Samoiki 2010. pp 689–701. thesteps.org
- ^"First NRB bank starts journey".The Daily Star.3 April 2013.Retrieved1 January2022.
- ^"NRB Bank takes off".The Daily Star.29 May 2013.Retrieved1 January2022.
- ^"No clear BB guideline for NRB banks".The Daily Star.12 December 2017.Retrieved1 January2022.
- ^abKhan, Mahbubur Rahman (22 July 2020)."Loan from NRB Bank: No rules meant for Shahed".The Daily Star.Retrieved1 January2022.
- ^"Shahed accused in NRB Bank scam case".The Daily Star.23 July 2020.Retrieved1 January2022.
- ^"Bank Asia, NRB Bank get approval for agent banking".The Daily Star.30 May 2014.Retrieved1 January2022.
- ^"NRB Bank gets adviser".The Daily Star.5 May 2021.Retrieved1 January2022.
- ^Uddin, AKM Zamir; Habib, Ahsan (29 September 2021)."NRB Bank deliberately loses Tk 103cr to favour stock gamblers".The Daily Star.Retrieved1 January2022.
- ^"NRB Bank involved in stock market scandal?".The Daily Star.18 October 2021.Retrieved1 January2022.
- ^Habib, Ahsan (17 September 2021)."NRB Bank fined for breaking stock investment rules".The Daily Star.Retrieved1 January2022.
- ^"NRB Bank fined Tk49.50 lakh for share price manipulation".The Business Standard.16 September 2021.Retrieved1 January2022.
- ^"NRB Bank gets the regulator's stick for overreaching investment ceiling".The Financial Express.Retrieved1 January2022.
- ^"How banks fuelled stock prices".The Business Standard.13 September 2021.Retrieved1 January2022.
- ^"NRB Bank to go public".The Business Standard.14 September 2021.Retrieved1 January2022.
- ^"Case filed by ACC against NRB Bank director and his wife".UNB.Retrieved1 January2022.
- ^"Probe body formed to investigate against NRB Bank".Risingbd.Retrieved1 January2022.