Prime minister Sheikh Hasina on Wednesday inaugurated the commercial operation of the Community Bank Bangladesh Limited fulfilling the long cherished demand of police. PM opened the bank through a video conference from her official residence Ganabhaban this morning.
Prime Minister’s principal secretary Md Nojibur Rahman conducted the function while Inspector General of Police (IGP) Mohammad Javed Patwary made a video presentation on the Community Bank Bangladesh.
The vision of the bank, which belongs to ownership of Bangladesh Police Welfare Trust, is to reach out to the members of different communities with innovative banking services.
The bank got its license on November 1 in 2018 to start its operation with the paid up capital of Taka 400 crore.
It is set to start its operation with six branches — two in Dhaka’s Gulshan and Motijheel areas, and one each at Agrabad in Chattogram, Shreepur Mauna in Gazipur, Panchabati in Narayanganj and Noapara in Habiganj.
The bank will focus on setting up a good a number of digital banking booths in rural areas in order to provide banking services to clients. The booths will help the bank reduce cost and provide micro-lending and deposit products to underprivileged people.
Since the inception, the bank has been following the central bank’s rules and regulations in order ensure corporate governance. It has appointed independent directors as well.
With Community Bank Bangladesh Ltd, the number of the country’s total scheduled banks reaches 59.