With the decision of the Government, Bangladesh Development Bank Limited. (BDBL) was incorporated on 16 November 2009 as a Public Company Limited by shares under the Companies Act, 1994 by the amalgamation of former Bangladesh Shilpa Bank (BSB) and Bangladesh Shilpa Rin Sangstha (BSRS), two Development Financial Institutions (DFIs) in the public sector.
Bangladesh Shilpa Bank (BSB) was established on October 31, 1972, for accelerating the industrial pace of the country by providing loans and equity to the industrial projects as per Bangladesh Shilpa Bank Order, 1972 (President’s Order No. 129 of 1972).
With the same objective, Bangladesh Shilpa Rin Sangstha (BSRS) was also established on October 31, 1972, as per Bangladesh Shilpa Rin Sangstha Order, 1972 (President’s Order No. 128 of 1972).
In order to carry on the business of BDBL, Bangladesh Bank issued a banking license on 19-11-2009.
Two Vendors’ Agreements were signed between the Government of the People’s Republic of Bangladesh and the BDBL on 31 December 2009 to acquire and take over all of their (BSB & BSRS) assets, benefits, rights, powers, authorities, privileges, liabilities, borrowings and obligations and to carry on with the same business.
As a Public Limited Company, BDBL formally embarked on its journey on January 03, 2010. It extends financial assistance for setting up industries and provides all kinds of commercial banking services to its customers through its branch network in Bangladesh.
The BDBL also inherited membership of Dhaka Stock Exchange Limited (DSE) and Chittagong Stock Exchange Limited (CSE). In order to contribute to the capital market,BDBL has established two subsidiary companies namely BDBL Securities Limited (BSL) located in BDBL Bhaban-2 at 12, Karwan Bazar Dhaka and BDBL Investment Security Limited (BISL), located at BDBL Bhaban, 8 Rajuk, avenue, Motijheel, Dhaka.Both the subsidiary companies have paid-up capital of TK. 500 million each. BSL has a branch at Agrabad Chattogram also.The brokerage license has been handed over to BSL and BISL. Except these BDBL is maintaining portfolio in the capital market through a separate department namely Investment Department.
Chairman, BDBL (Details)
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