The formation of NRB Commercial Bank (NRBC), Global Islami Bank (formerly NRB Global), and NRB Bank was initiated by non-resident Bangladeshis (NRBs), but controversies surround their establishment. While most of the directors-chairmen now reside permanently in Bangladesh and are actively involved in bank operations, many directors initially secured their positions as expatriates. Despite being approved by Bangladesh Bank with conditions such as foreign investment and expatriate income, these banks have failed to fulfill their establishment requirements, contributing to instability in the banking sector due to various irregularities.
These banks’ irregularities and failures to meet their establishment conditions have raised concerns among stakeholders. The banks’ inability to recover loans, liquidity crises, and governance issues have contributed to the instability in the banking sector.
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