Standard Bank Limited

Standard Bank Limited is a private commercial bank in Bangladesh.[4] Khondokar Rashed Maqsood is the managing director and CEO of the bank as January 2020.[5] Touhidul Alam Khan is the additional managing director of the bank as of 24 November 2020.[6] Kazi Akram Uddin Ahmed is the founder chairman of the bank and Kamal Mostafa Chowdhury is the founder vice-chairman and director of the bank.[7]

Standard Bank Limited Bangladesh
TypePrivate commercial bank
IndustryFinancial services
Banking
FoundedDhaka, Bangladesh
HeadquartersDhaka, Bangladesh
Key people
Kazi Akram Uddin Ahmed, Chairman[1]
Kamal Mostafa Chowdhury, Founder Vice-Chairman & Director[2]
Habibur Rahman, Managing Director & CEO[3]
ProductsBanking services
Consumer Banking
Corporate Banking
Investment Banking
Increase
Websitewww.standardbankbd.com

History

The bank was founded on 3 June 1999, with an approved capital of 750 million taka.[4] Kazi Akram Uddin Ahmed was the founding chairman of the bank.[8]

In July 2004, Standard Bank provided 100 million BDT credit to International Leasing and Financial Services Limited.[9]

The Bank decided provide a 12 per cent dividend in 2007 at the 9th annual general meeting at the BDR Darbar Hall presided by chairman Kazi Akramuddin Ahmed.[10]

Mamun-Ur-Rashid was appointed managing director of the bank in October 2016.[11] Standard Bank Limited expanded outside Bangladesh by opening branches in Saudi Arabia.[12]

Standard Bank Limited decided to switch to sharia complaint banking from traditional banking; it remained close for four days in December 2020 to make the transition.[13]

The Anti-Corruption Commission filed a case against former managing director of Standard Bank Limited, Mamun Ur Rashid, and seven other officials of Sachetan Sahajjo Songstha and Standard Bank Limited for misappropriating 40 million BDT from the Bank in February 2021.[14] Senior Special Judge Md Asaduzzaman of the Dhaka Metropolitan Court sent former managing director of Standard Bank Limited, Mamun Ur Rashid, to jail in a case over the embezzlement of 40 million BDT from the bank in October 2022.[15]

In January 2023, Standard Bank Limited donated 40 million taka to the relief fund of Prime Minister Sheikh Hasina.[16] Kazi Khurram Ahmed, son of the Kazi Akram Uddin Ahmed, chairman of Standard Bank Limited, was elected vice-chairman of the bank.[17]

Financial services
  • SME Banking
  • Retails Banking
  • Card Service (Credit & Debit)
  • Foreign Exchange & Related Services
  • Probashi Banking
  • Agent Banking
  • Islami Banking

References
  1. "Standard Bank plans big". The Daily Star.
  2. "Board of Directors". Standard Bank.
  3. "New MD of Standard Bank". The Daily Star.
  4. Rahman, S M Mahfuzur. "Standard Bank Limited". Banglapedia. Retrieved 17 November 2016.
  5. "Khondoker Rashed Maqsood becomes Managing Director of Standard Bank Ltd". The Business Standard. 15 January 2020. Retrieved 15 January 2020.
  6. "Standard Bank appoints new AMD". Dhaka Tribune. 24 November 2020. Retrieved 24 November 2020.
  7. "Standard Bank plans big". Standard Bank.
  8. "Southeast University and chakri.com Present Job Fair 2017". The Daily Star. 2017-11-24. Retrieved 2023-01-15.
  9. "Standard Bank extends Tk 150m credit facility to Int'l Leasing". The Daily Star. Retrieved 2023-01-15.
  10. "Standard Bank declares 12pc dividend". The Daily Star. 2008-08-03. Retrieved 2023-01-15.
  11. "New MD of Standard Bank". The Daily Star. 2016-10-03. Retrieved 2023-01-15.
  12. "SBL, SIBL to open KSA branches soon". The Financial Express. Dhaka. Retrieved 17 November 2016.
  13. "Standard morphing into Shariah-based bank". The Daily Star. 2020-12-28. Retrieved 2023-01-15.
  14. "Misappropriation of Tk 4 crore: ACC sues Standard Bank ex-MD, 7 others". The Daily Star. 2021-02-04. Retrieved 2023-01-15.
  15. "Embezzlement of Tk 4 crore: Standard Bank Limited ex-MD sent to jail". The Daily Star. 2022-10-30. Retrieved 2023-01-15.
  16. "Standard Bank donates Tk4 crore to PM's shelter scheme". The Business Standard. 2023-01-15. Retrieved 2023-01-15.
  17. "Kazi Khurram Ahmed elected vice chairman of Standard Bank". The Business Standard. 2023-01-04. Retrieved 2023-01-15.


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