Bangladesh 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
Bangladesh Krishi Bank was established in 1973.[4]
Bangladesh Krishi Bank is one of seven 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]
