Community Bank Bangladesh

Community Bank Bangladesh PLC. was established in November, 2019 as the 59th Scheduled Bank of Bangladesh. This bank is fully owned by Bangladesh Police Welfare Trust. Initially, the paidup capital was 400 crore taka with 2,00,000 police personnel as client.

History

On 23 May 2018, Bangladesh Police Welfare Trust applied for a license from Bangladesh Bank to open a bank named Community Bank Bangladesh Limited. The trust is owned by Bangladesh Police. Bangladesh Bank approved the license application of the Bank in October 2018. The Bank was officially listed on 4 November 2018. Finance Minister of Bangladesh, Abul Maal Abdul Muhith, criticised Bangladesh Bank for approving Community Bank Bangladesh, Citizens Bank PLC, Bengal Commercial Bank Limited, and People's Bank Limited. He expressed unhappiness as he believed the banks were approved on political considerations.
Community Bank Bangladesh Limited started its operation on 11 September 2019, inaugurated by the Prime Minister of Bangladesh Sheikh Hasina.
In November 2021, Masihul Huq Chowdhury was reappointed the managing director of Community Bank Bangladesh Limited.