Welcome to Banking Almanac 2022 - Fifth Edition

Given the present economic problems of Bangladesh, going through a challenging phase, there is renewed interest on the state of its banking and financial institutions. It is widely recognised that well-functioning banking and financial institutions, among others, also hold key to the ability of Bangladesh to overcome her present economic challenges keeping the wheels of her economy moving in the right direction to achieve sustainable growth and development. The present edition of the Bangladesh Banking Almanac, like its previous editions is a compilation of most recent information on the Central Bank of Bangladesh – Bangladesh Bank, recent trends in the monetary and foreign exchange policy of Bangladesh as well as detailed data and information on the organizational details, capital base, functional and other aspects of banking and financial institutions of Bangladesh. Intended to be a comprehensive information and data source on the banking and financial institutions of Bangladesh, data and information compiled in it are the most recent ones available. These have been compiled in a concise structured manner to be useful to institutions, individuals - both practitioners and researchers – who can have in one single volume valuable details which may suitably be utilised by them for their specific purposes.

Banking and Financial institutions in Bangladesh are important components of Financial Architecture of Bangladesh. They have been playing an increasingly important role in recent economic development of Bangladesh and as important instruments used by the government to implement its monetary and exchange rate policy. The contemporary global economic situation and economic challenges in many developing countries have once again highlighted the key role the banking and financial institutions. In Bangladesh also, there is a renewed interest on the state of her banking and financial institutions as the country must address formidable economic challenges of her own. The fifth edition of the Bangladesh Banking Almanac is a comprehensive compilation of important data and information on the banking and financial institutions with most recent banking and financial sector data. The fifth edition of the Almanac has much to offer in terms of most recent data and information which students, researchers, academics, practitioners, and policy makers will find especially useful. The Almanac with its rich contents makes it a most valuable storehouse of data and information which can be of immense value for all its users.

Foreword for the Fifth Edition
CHAIRMAN, Board of Editors Banking Almanac

Dr. Salehuddin Ahmed Former Governor, Bangladesh Bank (Central Bank) Professor, Graduate School of Management (GSM), BRAC University

Last year when we brought out the fourth edition of the Bangladesh Banking Almanac the national and international economic situations were worrisome and full of uncertainties. The economies in most countries were finding it difficult to overcome the adverse impacts of COVID-19. Widespread supply chain disruptions, balance of payment difficulties for most developing countries and rising prices of commodities, particularly of food grains following the outbreak of Ukraine War were having their toll. Most of these challenges largely remain and most of our countries continue to be beset with complex economic challenges. There is a realisation that we need, careful and effective policy formulation and their implementation to overcome them. It is now all too clear that our overall monetary and fiscal policies, will by necessity, must be pragmatic yet robust and carefully designed to address the key challenges that we face. In Bangladesh in particular, we are at a crossroad now when our mounting economic challenges arising out of sluggish demand for our exports, stagnating remittances from expatriate workers, rising borrowing costs, scarring of COVID-19 pandemic, political instabilities due to war in Ukraine and recent eruption of fresh violence in the Middle East are compounding our economic difficulties.
Such difficult times warrant difficult policy choices and well considered implementation measures. Our key institutions specially our financial institutions, themselves facing difficulties, will have a major role to play if we were to solve our present challenges. In carrying work on the present fifth edition of the Bangladesh Banking Almanac we tried to compile all the vital information and data on our Banking and financial institutions which we thought would be useful for those who would like to have most recent data and information to help their research, specific policy formulation and other operational aspects. We were also conscious how such data and information could be useful for fact based institutional strengthening efforts. Read More

Deputy Governor
Bangladesh Bank

Nurun Nahar
Deputy Governor, Bangladesh Bank

In the ever-evolving landscape of the financial sector, the pivotal role of central banks continues to expand. Bangladesh Bank, as the apex regulatory body, has consistently met the challenges of this supervising financial institutions, and dynamic environment. Our responsibilities encompass formulating and implementing monetary policies, managing forex reserves, among other crucial functions. In light of the recent global challenges, such as the Russia-Ukraine war and the ongoing battle against the COVID-19 pandemic effects, Bangladesh Bank has demonstrated resilience and adaptability. We are aligning our operations with sustainability objectives, recognizing the imperative to contribute not only to financial stability but also to the broader goals of sustainable development.
The financial sector of Bangladesh has a crucial role in this development journey. As part of our broader commitment to climate action, Bangladesh Bank recognizes the urgency of addressing climate change through adaptation and mitigation measures. Aligned with the goals and targets of SDGs and INDC's commitment of Bangladesh BB issued Sustainable Finance Policy. Sustainability Rating for Banks and Financial Institutions, Guidelines on Environmental & Social Risk Management (ESRM) and Green Bond Financing for Banks and FIs. These policies and guidelines have been yielding a remarkable positive impact on the financial market. Read More

Chairman
Bangladesh Association of Banks (BAB)

Md. Nazrul Islam Mazumder
Chairman, Export Import Bank of Bangladesh Ltd.
Chairman, Bangladesh Association of Banks (BAB)

It is indeed a matter of great joy that through the publication of Banking Almanac: 5th Edition (2022), Almanac is going to celebrate its five years of publication. No shadow of doubt comes to my mind about its sheer success and applicability. Being the only publication of its kind in our country, it is a lighthouse of information for the bankers, researchers and any person related to the financial sector.

I wish every success of this publication.

Thank you.
Allah Hafez.

Md. Nazrul Islam Mazumder
Chairman, Export Import Bank of Bangladesh Ltd.
Chairman, Bangladesh Association of Banks (BAB)

Chairman
Association of Bankers Bangladesh Limited (ABB)

Selim R.F Hussain
Chairman, ABB

On behalf of the Association of Bankers Bangladesh Limited (ABB), I take this opportunity to extend our warm regards to all the esteemed readers of the 5th edition of the Banking Almanac: Banks and Financial Institutions of Bangladesh (2022).
I am pleased to note that the Banking Almanac: Banks and Financial Institutions of Bangladesh continues its annual publication, consistently incorporating essential data from the banking industry. This dedicated effort holds the promise of making a significant contribution to various initiatives aimed at advancing and enhancing our country's financial sector.
As we navigate the dynamic landscape of the banking industry, we must address several critical challenges. First and foremost, we are committed to enhancing financial inclusion, ensuring that banking services reach every corner of our society, Read More

Chairman
BLFCA and Managing Director of IIDFC

Md. Golam Sarwar Bhuiyan
Chairman, BLFCA and Managing Director of IIDFC

I feel privileged to extend my greetings to the resilient Banking and Financial Institutions community of the country. Bangladesh made a strong recovery from the COVID-19 pandemic, but the post-pandemic recovery was disrupted in FY23 with rising inflation, financial sector vulnerabilities, external pressure, devaluation of Bangladesh currency, and global economic uncertainty. Still it shows remarkable resilience, achieving a modest GDP growth of 6.00% in the first half of 2023. The country’s manufacturing and service sectors with support from banking and financial institutions are playing an instrumental role to maintain this resilience. I am thrilled to celebrate the successful launch of the Banking Almanac: Banks and Financial Institutions of Bangladesh, a testament to our community's enduring strength and contributions. From its humble beginnings in a fragile economy, Bangladesh's financial industry has provided stability and steady progress, Read More

A Few Words from the Project Director

Abdar Rahman Project Director, Banking Almanac

Banking Almanac: A Unique and Prestigious Publication in Bangladesh

Banking Almanac is a unique and prestigious publication in Bangladesh that provides comprehensive and up-to-date information on the banking and financial sector of the country. It is a research book that is published annually by ShikkhaBichitra, a private entrepreneur, with the support of Bangladesh Bank, the central bank of Bangladesh.

The first edition of Banking Almanac was published in 2016. Since then, five editions have been published, making it the first and only publication of its kind in Bangladesh.

Banking Almanac is a valuable resource for anyone who wants to learn more about the banking and financial sector of Bangladesh. It is used by researchers, policymakers, bankers, and students alike.

The Banking Almanac plays a crucial role in promoting efficiency, transparency, and informed decision-making within the financial sector. Its publication is essential for banks and financial institutions to remain competitive, compliant, and contribute to a healthy financial ecosystem.

Banking Almanac has been published under the guidance of an editorial board consisting of eminent economists, researchers and banking professionals. Honorable Former Governor of Bangladesh Bank Dr. Salehuddin Ahmed is the chairman of the Editorial Board.