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Bangladesh Krishi Bank

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Krishi Bank
Company typeGovernment owned
IndustryBanking
Founded1973 and Dhaka, Bangladesh
HeadquartersDhaka, Bangladesh
Key people
Md. Zahid Hossain (Chairman)
MD. Shawkat Ali Khan (Managing Director)
ProductsBanking services
Consumer Banking
Corporate Banking
Investment Banking
Increase
WebsiteBangladesh Krishi Bank

Krishi Bank is a fully government owned bank in Bangladesh founded in 1973. The primary purpose of the bank is to provide services to farmers and agricultural industry.[1] Rajshahi Krishi Unnayan Bank is the other state owned agriculture bank in Bangladesh.[2][3]

History

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Krishi Bank was established in 1973.[4]

Krishi Bank is one of six state owned banks in Bangladesh.[5] In 2006, the bank was ordered to ensure 2 per cent interest on loans to farmers.[6] On 16 November 2006, M Fazlul Haque was appointed managing director of the Bank.[7]

On 30 January 2008, Khondkar Ibrahim Khaled was appointed chairman of the Bangladesh Krishi Bank and Md Mukter Hussain was appointed the managing director of Bangladesh Krishi Bank.[8][9] In 2009, it had 952 branches which is the highest number of branches for banks in Bangladesh.[10]

The bank was asked to stop providing loans to non-agricultural purposes.[11] The Bank provided 19.26 billion taka loans for non-agricultural purposes from 2010 to 2013.[11]

In December 2014, four Bangladesh Krishi Bank officials have faced investigations from the Anti-Corruption Commission.[12] The four were accused of providing a fraudulent loan to restaurateur Wahidur Rahman, owner of Firoz Group, for 1.52 billion taka.[12][13]

In 2015, the Bangladesh Krishi Bank incurred a loss of 1589.3 million taka.[14] The Bank worked with the Department of Agricultural Extension in Netrokona District to provide loans to Boro rice Cultivators.[15] The Moulvibazar branch of the bank was robbed of over 600 thousand taka.[16]

On 23 November 2016, Muhammad Awal Khan was appointed managing director of Bangladesh Krishi Bank.[17]

In November 2017, Anti Corruption Commission sued six including three officers of the bank for embezzling 4.3 billion taka with the owners of M/S RN Sweaters.[18]

Anti-Corruption Commission sued 6 officials of Bangladesh Krishi Bank and Wahidur Rahman in August 2018 for embezzling 1.52 billion taka from 2009 to 2013.[13]

Justices M Enayetur Rahim and Sardar Md Rashed Jahangir asked the bank to explain why the bank had waived 480 taka interest on a loan to businessman and Bangladesh Nationalist Party politician Abbas Ali in May 2021.[19] It was one of nine banks making a loss in the first quarter of 2021 in Bangladesh.[20] It had the highest loss at 7.74 billion taka.[20] The other banks were BASIC Bank Limited, Bangladesh Commerce Bank Limited, Bangladesh Development Bank, ICB Islamic Bank, Meghna Bank, NRB Bank, Padma Bank Limited, and Rajshahi Krishi Unnayan Bank.[20] On 16 August, Shirin Akhter was appointed managing director of the bank.[21] After Shirin retired, she joined the Karmasangsthan Bank in December 2021.[22]

Bangladesh Krishi Bank asked for deposits from State owned enterprises.[23] In June 2022, it had the highest capital shortfall in Bangladesh with 128.77 billion taka.[24] It received an appreciation letter for distributing loans from the Bangladesh Bank.[25] The Bank donated 10 million taka to the relief fund of Prime Minister Sheikh Hasina.[26]

Board of directors

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Name Position Reference
Md. Zahid Hossain Chairman [27]
Md. Shawkat Ali Khan Managing Director [27]
Md. Hamidur Rahman Director [27]
Mrityunjoy Saha Director [27]
Tahmid Hasnat Khan Director [27]
Abdus Salam Director [27]
Benojir Alam Director [27]
Kazi Mohammad Nozre Moin Secretary [27]

References

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  1. ^ "About Us". krishibank.org.bd. Archived from the original on 2016-01-05. Retrieved 3 February 2016.
  2. ^ Uddin, AKM Zamir (2020-11-26). "BKB, Rakub asked to reduce default loans, boost capital base". The Daily Star. Retrieved 2022-11-09.
  3. ^ "Rural businesses, farmers hit by lack of finance". The Daily Star. Retrieved 2022-11-09.
  4. ^ "BKB AT A GLANCE - Bangladesh Krishi Bank". www.krishibank.org.bd. Retrieved 2022-11-09.
  5. ^ "State-owned banks in Bangladesh cut interest rates". bdnews24.com. Retrieved 3 February 2016.
  6. ^ "Ensure 2pc lending rate for Rabi crop farmers". The Daily Star. Retrieved 2022-11-09.
  7. ^ "New MD of Krishi Bank". The Daily Star. Retrieved 2022-11-09.
  8. ^ "Krishi Bank gets new chairman, MD". The Daily Star. 2008-01-30. Retrieved 2022-11-09.
  9. ^ Rashid, Mamun (2011-05-05). "Sorry Mr. Ibrahim Khaled!". The Daily Star. Retrieved 2022-11-09.
  10. ^ Rahman, Sajjadur (2009-08-15). "Krishi Bank to go more commercial". The Daily Star. Retrieved 2022-11-09.
  11. ^ a b "Govt orders Krishi Bank to stop giving loans for non-agricultural purposes". bdnews24.com. Retrieved 3 February 2016.
  12. ^ a b "ACC grills 4 Krishi Bank officials over embezzlement". The Daily Star. Retrieved 3 February 2016.
  13. ^ a b "Graft Case: Six former bank officials sent to jail". The Daily Star. 2019-02-21. Retrieved 2022-11-09.
  14. ^ "Tk 1 crore or more in 1.14 lakh accounts". The Daily Star. Retrieved 3 February 2016.
  15. ^ "Massive Boro cultivation in Netrakona". The Financial Express. Dhaka. Archived from the original on 20 December 2016. Retrieved 3 February 2016.
  16. ^ "Moulvibazar Krishi Bank branch robbe". bdnews24.com. Retrieved 3 February 2016.
  17. ^ "New managing director for Bangladesh Krishi Bank". The Daily Star. 2016-11-23. Retrieved 2022-11-09.
  18. ^ "Loan scam: Ex-Krishi Bank DGM lands in jail". The Daily Star. 2017-11-28. Retrieved 2022-11-09.
  19. ^ "HC wants documents of Krishi Bank's Tk 48 crore interest waiver for BNP leader". The Daily Star. 2021-05-24. Retrieved 2022-11-09.
  20. ^ a b c Uddin, AKM Zamir (2021-06-02). "Nine banks incur net losses in Q1". The Daily Star. Retrieved 2022-11-09.
  21. ^ "Shirin MD of current charge at Krishi Bank". The Daily Star. 2021-08-16. Retrieved 2022-11-09.
  22. ^ "Shirin becomes Karmasangsthan Bank MD". New Age. Retrieved 2022-11-09.
  23. ^ "Krishi Bank seeks deposits from state entities". The Financial Express. Retrieved 2022-11-09.
  24. ^ Uddin, AKM Zamir (2022-06-09). "Ten banks face capital shortfall of Tk 27,051cr". The Daily Star. Retrieved 2022-11-09.
  25. ^ "Bangladesh Krishi Bank receives appreciation letter from BB governor". The Business Standard. 2022-05-18. Retrieved 2022-11-09.
  26. ^ "Bangladesh Krishi Bank donates Tk1cr to PM's Relief & Welfare Fund". The Business Standard. 2022-07-07. Retrieved 2022-11-09.
  27. ^ a b c d e f g h "Board of Directors - Bangladesh Krishi Bank". www.krishibank.org.bd. Retrieved 2022-11-09.
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