PM opens Community Bank | The Daily Star
12:00 AM, September 12, 2019 / LAST MODIFIED: 11:27 AM, September 12, 2019

PM opens Community Bank

The new bank owned by Police Welfare Trust vows to reach rural areas with digital banking booths

Community Bank Bangladesh yesterday began its journey with a view to reaching out the growth centres across the country.

Prime Minister Sheikh Hasina opened the bank, owned by Bangladesh Police Welfare Trust, through a video conference from her official residence Gono Bhaban.

The bank commenced the business operation of its branch in Gulshan. Five more branches will be set up within a month and a half.

Along with Gono Bhaban, the inaugural session of the new lender took place at the Rajarbagh Police Line auditorium and the Gulshan branch in tandem.

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, an official of the bank said.

The booths will help the bank reduce cost and provide micro-lending and deposit products to underprivileged people, he said.

Since the inception, the bank has been following the central bank’s rules and regulations in order ensure corporate governance, according to a press release issued by the bank. It has appointed independent directors as well.

The bank got its approval from the central bank in November last year to roll out the operations with a paid-up capital of Tk 400 crore.

With Community Bank Bangladesh Ltd, the number of the country’s total scheduled banks reaches 59.

AHM Mustafa Kamal, finance minister; Asaduzzaman Khan, home minister, and Mohammad Javed Patwary, inspector general of Police and also the chairman of the bank, were present at the ceremony at the Gono Bhaban.

Md Moinur Rahman Chowdhury, additional IGP, officials of the central bank and a good number of businesspeople were present at the Rajarbagh Police Line auditorium.

Masihul Huq Chowdhury, managing director of Community Bank, and other officials attended the inaugural session at the Gulshan branch.

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