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Assignment -2

List of Depository & Non-depository Financial Institutions


in Bangladesh

Course Instructor : Financial Market and Institutions


Course Code : FIN 6402

Prepared for
Dr. Jannatul Ferduse
Assistant Professor
Faculty of Business Studies
Bangladesh University of Professionals

Prepared by
Md. Mahmudul Hasan
ID- M1415044
MBA (Batch 15)

Bangladesh University of Professionals


Mirpur-12, Dhaka

Table of Contents
Overview of Financial system of Bangladesh
Financial Institute

1
2

Classification of Financial Institutions


Overview Bangladesh Bank
List of depository institutions in Bangladesh:
a. Commercial Bank
1. State Owned Commercial Banks

2. Specialized Banks
3. Private Commercial Banks
4. Islami Shariah based
5. Foreign Commercial Banks
b. Credit unions

11
11
12-13
11
12

List Non-depository institutions of Bangladesh


a. Finance companies
b. Mutual funds
c. Insurance companies

Referance

15-16
16-17
17-19
20

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Overview of Financial system of Bangladesh

The financial system of Bangladesh is comprised of three broad fragmented sectors:


1. Formal Sector,
2. Semi-Formal Sector,
3. Informal Sector.
The sectors have been categorized in accordance with their degree of regulation.
The formal sector includes all regulated institutions like Banks, Non-Bank Financial
Institutions (FIs), Insurance Companies, Capital Market Intermediaries like Brokerage
Houses, Merchant Banks etc.; Micro Finance Institutions (MFIs)
The semi formal sector includes those institutions which are regulated otherwise but do not
fall under the jurisdiction of Central Bank, Insurance Authority, Securities and Exchange
Commission or any other enacted financial regulator. This sector is mainly represented by
Specialized Financial Institutions like House Building Finance Corporation (HBFC), Palli
Karma Sahayak Foundation (PKSF), Samabay Bank, Grameen Bank etc., Non-Governmental
Organizations (NGOs and discrete government programs.
The informal sector includes private intermediaries which are completely unregulated.

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Financial Institute:
A financial institution is an institution that provides financial services for its clients or
members. One of the most important financial services provided by a financial institution is
acting as a financial intermediary. Most financial institutions are regulated by the
government.
Deposit-taking institutions that accept and manage deposits and make loans (this category
includes banks, credit unions, trust companies, and mortgage loan companies);
Insurance companies and pension funds; and Brokers, underwriters and investment funds.
Financial institutions provide service as intermediaries of the capital and debt markets. They
are responsible for transferring funds from investors to companies, in need of those funds.
The presence of financial institutions facilitate the flow of money through the economy. To
do so, savings are pooled to mitigate the risk brought to provide funds for loans. Such is the
primary means for depository institutions to develop revenue. Should the yield curve become
inverse, firms in this arena will offer additional fee-generating services including securities
underwriting, and prime brokerage.
A financial institution is an establishment that conducts financial transactions such as
investments, loans and deposits. Almost everyone deals with financial institutions on a
regular basis. Everything from depositing money to taking out loans and exchanging
currencies must be done through financial institutions.
Classification of Financial Institutions
In financial market there are many types of financial institutions or intermediaries exist for
the flow of funds. Some of them involve in depositary type of transactions whereas other
involve in non-depositary type of transactions. The type of financial institutions can be
divided into two types as follows:

1. Depository Institutions

A depository institution is a financial institution in the United States (such as a savings bank,
commercial bank, savings and loan associations, or credit unions) that is legally allowed to

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accept monetary deposits from consumers. Federal depository institutions are regulated by
the Govt.

Role of Depository Institutions:

Depository institutions accept deposits from surplus units and provide credit to deficit units
through loans and purchases of securities. They are popular financial institutions for the
following reasons:

They offer deposit accounts that can accommodate the amount and liquidity
characteristics desired by most surplus units.

They repackage funds received from deposits to provide loans of the size and maturity
desired by deficit units.

They accept the risk on loans provided.

They have mare expertise than individual surplus units in evaluating the credit
worthiness of deficit units.

They diversify their loans among numerous deficits units and therefore can absorb
defaulted loans better than individual surplus units could.

The depository types of financial institutions include banks, credit unions, saving and loan
associations and mutual saving banks

* Commercial banks
Commercial banks are those financial institutions, which help in pooling the savings of
surplus units and arrange their productive uses. They basically accept the deposits from
individuals and institutions, which are repayable on demand. These deposits from individuals
and institutions are invested to satisfy the short-term financing requirement of business and
industry.

* Credit Unions
Credit unions are cooperative associations where large numbers of people are voluntarily
associated for savings and borrowing purposes. These individuals are the members of credit

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unions as they make share investment along with deposits. The saving generated from these
members are used to lend the members of the union only.

* Saving And Loan Associations


Saving and loan associations are the financial institutions involved in collecting funds of
many small savers and lending these funds to home buyers and other types of borrowers.

* Mutual Saving Banks


Mutual saving banks are more or less similar to saving and loan associations. They primarily
accepts savings of individuals and they are lent to the home users and consumers on a longterm basis.

2. Non-depository Institutions

Non-depository institutions are not banks in real sense. They make contractual arrangement
and investment in securities to satisfy the needs and preferences of investors. The nondepository institutions include insurance companies, pension funds, finance companies and
mutual funds.

* Insurance Companies
Insurance companies are the contractual saving institutions which collect periodic premium
from insured party and in return agree to compensate against the risk of loss of life and
properties.

* Pension/Provident Funds
Pension funds are financial institutions which accept saving to provide pension and other
kinds of retirement benefits to the employees of government units and other corporations.
Pension funds are basically funded by corporation and government units for their employees,
which make a periodic deposit to the pension fund and the fund provides benefits to
associated employees on the retirement. The pension funds basically invest in stocks, bonds
and other type of long-term securities including real estate.

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* Finance Companies
Finance companies are the financial institutions that engage in satisfying individual credit
needs, and perform merchant banking functions. In other words, finance companies are nonbank financial institutions that tend to meet various kinds of consumer credit needs. They
involve in leasing, project financing, housing and other kind of real estate financing.

* Mutual Funds
Mutual funds are open-end investment companies. They are the associations or trusts of
public members and invest in financial instruments or assets of the business sector or
corporate sector for the mutual benefit of its members. Mutual funds are basically a large
public portfolio that accepts funds from members and then use these funds to buy common
stocks, preferred stocks, bonds and other short-term debt instruments issued by government
and corporation.

Bangladesh Bank:
Bangladesh Bank acts as the Central Bank of Bangladesh which was established on
December 16, 1971 through the enactment of Bangladesh Bank Order 1972- Presidents
Order No. 127 of 1972 (Amended in 2003). The general superintendence and direction of the
affairs and business of BB have been entrusted to a 9 members' Board of Directors which is
headed by the Governor who is the Chief Executive Officer of this institution as well. BB has
45 departments and 10 branch offices. In Strategic Plan (2010-2014), the vision of BB has
been stated as, To develop continually as a forward looking central bank with competent and
committed professionals of high ethical standards, conducting monetary management and
financial sector supervision to maintain price stability and financial system robustness,
supporting rapid broad based inclusive economic growth, employment generation and
poverty eradication in Bangladesh.
The main functions of BB are (Section 7A of BB Order, 1972) 1. to formulate and implement monetary policy;
2. to formulate and implement intervention policies in the foreign exchange market;
3. to give advice to the Government on the interaction of monetary policy with fiscal and
exchange rate policy, on the impact of various policy measures on the economy and to

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propose legislative measures it considers necessary or appropriate to attain its


objectives and perform its functions;
4. to hold and manage the official foreign reserves of Bangladesh;
5. to promote, regulate and ensure a secure and efficient payment system, including the
issue of bank notes;
To regulate and supervise banking companies and financial institutions
Core Policies of Central Bank
Monetary policy
The main objectives of monetary policy of Bangladesh Bank are:

Price stability both internal & external

Sustainable growth & development

High employment

Economic and efficient use of resources

Stability of financial & payment system

Bangladesh Bank declares the monetary policy by issuing Monetary Policy Statement (MPS)
twice (January and July) in a year. The tools and instruments for implementation of monetary
policy in Bangladesh are Bank Rate, Open Market Operations (OMO), Repurchase
agreements (Repo) & Reverse Repo, Statutory Reserve Requirements (SLR & CRR).
Reserve Management Strategy
Bangladesh Bank maintains the foreign exchange reserve of the country in different
currencies to minimize the risk emerging from widespread fluctuation in exchange rate of
major currencies and very irregular movement in interest rates in the global money market.
BB has established Nostro account arrangements with different Central Banks. Funds
accumulated in these accounts are invested in Treasury bills, repos and other government
papers in the respective currencies. It also makes investment in the form of short term
deposits with different high rated and reputed commercial banks and purchase of high rated
sovereign/supranational/corporate bonds. A separate department of BB performs the
operational functions regarding investment which is guided by investment policy set by the
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BB's Investment Committee headed by a Deputy Governor. The underlying principle of the
investment policy is to ensure the optimum return on investment with minimum market risk.
Interest Rate Policy
Under the Financial sector reform program, a flexible interest policy was formulated.
According to that, banks are free to charge/fix their deposit (Bank /Financial Institutes) and
Lending (Bank /Financial Institutes) rates other than Export Credit. At present, except Preshipment export credit and agricultural lending, there is no interest rate cap on lending for
banks. Yet, banks can differentiate interest rate up to 3% considering comparative risk
elements involved among borrowers in same lending category. With progressive deregulation
of interest rates, banks have been advised to announce the mid-rate of the limit (if any) for
different sectors and the banks may change interest 1.5% more or less than the announced
mid-rate on the basis of the comparative credit risk. Banks upload their deposit and lending
interest rate in their respective website.
Capital Adequacy for Banks and FIs
Basel-III has been introduced with a view to strenghening the capital base of banks with the
goal of promoting a more resilient banking sector. The Basel III regulation will be adopted in
a phased manner starting from the January 2015, with full implementation of capital ratios
from the beginning of 2019. Now, scheduled banks in Bangladesh are required to maintain
minimum capital of Taka 4 billion or Capital to Risk Weighted Assets Ratio (CRAR) 10%,
whichever is higher. In addition to minimum CRAR, Capital Conservation Buffer (CCB) of
2.5% of the total RWA is being introduced which will be maintained in the form of CET1.
Besides the minimum requirement all banks have a process for assessing overall capital
adequacy in relation to their risk profile and a strategy for maintaining capital at an adequate
level. For FIs, full implementation of Basel-II has been started in January 01, 2012
(Prudential Guidelines on Capital Adequacy and Market Discipline (CAMD) for Financial
Institutions). Now, FIs in Bangladesh are required to maintain Tk. 1 billion or 10% of Total
Risk Weighted Assets as capital, whichever is higher.

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Deposit Insurance
The deposit insurance scheme (DIS) was introduced in Bangladesh in August 1984 to act as a
safety net for the depositors. All the scheduled banks Bangladesh are the member of this
scheme Bank Deposit Insurance Act 2000. The purpose of DIS is to help to increase market
discipline, reduce moral hazard in the financial sector and provide safety nets at the minimum
cost to the public in the event of bank failure. A Deposit Insurance Trust Fund (DITF) has
also been created for providing limited protection (not exceeding Taka 0.01 million) to a
small depositor in case of winding up of any bank. The Board of Directors of BB is the
Trustee Board for the DITF. BB has adopted a system of risk based deposit insurance
premium rates applicable for all scheduled banks effective from January - June 2007.
According to new instruction regarding premium rates, problem banks are required to pay
0.09 percent and private banks other than the problem banks and state owned commercial
banks are required to pay 0.07 percent where the percent coverage of the deposits is taka one
hundred thousand per depositor per bank. With this end in view, BB has already advised the
banks for bringing DIS into the notice of the public through displaying the same in their
display board.
Insurance Authority
Insurance Development and Regulatory Authority (IDRA) was instituted on January 26, 2011
as the regulator of insurance industry being empowered by Insurance Development and
Regulatory Act, 2010 by replacing its predecessor, Chief Controller of Insurance. This
institution is operated under Ministry of Finance and a 4 member executive body headed by
Chairman is responsible for its general supervision and direction of business.
IDRA has been established to make the insurance industry as the premier financial service
provider in the country by structuring on an efficient corporate environment, by securing
embryonic aspiration of society and by penetrating deep into all segments for high economic
growth. The mission of IDRA is to protect the interest of the policy holders and other
stakeholders under insurance policy, supervise and regulate the insurance industry
effectively, ensure orderly and systematic growth of the insurance industry and for matters
connected therewith or incidental thereto.

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Regulator of Capital Market Intermediaries


Securities and Exchange Commission (SEC) performs the functions to regulate the capital
market intermediaries and issuance of capital and financial instruments by public limited
companies. It was established on June 8, 1993 under the Securities and Exchange
Commission Act, 1993. A 5 member commission headed by a Chairman has the overall
responsibility to administer securities legislation and the Commission is attached to the
Ministry of Finance. The mission of SEC is to protect the interests of securities investors, to
develop and maintain fair, transparent and efficient securities markets and to ensure proper
issuance of securities and compliance with securities laws. The main functions of SEC are:

Regulating the business of the Stock Exchanges or any other securities market.

Registering and regulating the business of stock-brokers, sub-brokers, share transfer


agents, merchant bankers and managers of issues, trustee of trust deeds, registrar of
an issue, underwriters, portfolio managers, investment advisers and other
intermediaries in the securities market.

Registering, monitoring and regulating of collective investment scheme including all


forms of mutual funds.

Monitoring and regulating all authorized self regulatory organizations in the securities
market.

Prohibiting fraudulent and unfair trade practices in any securities market.

Promoting investors education and providing training for intermediaries of the


securities market.

Prohibiting insider trading in securities.

Regulating the substantial acquisition of shares and take-over of companies.

Undertaking investigation and inspection, inquiries and audit of any issuer or dealer
of securities, the Stock Exchanges and

intermediaries and any self regulatory

organization in the securities market.

Conducting research and publishing information.

Regulator of Micro Finance Institutions


To bring Non-government Microfinance Institutions (NGO-MFIs) under a regulatory
framework, the Government of Bangladesh enacted "Microcredit Regulatory Authority Act,
2006" (Act no. 32 of 2006) which came into effect from August 27, 2006. Under this Act,
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the Government established Microcredit Regulatory Authority (MRA) with a view to


ensuring transparency and accountability of microcredit activities of the NGO-MFIs in the
country. The Authority is empowered and responsible to implement the said act and to bring
the microcredit sector of the country under a full-fledged regulatory framework.
MRAs mission is to ensure transparency and accountability of microfinance operations of
NGO-MFIs as well as foster sustainable growth of this sector. In order to achieve its mission,
MRA has set itself the task to attain the following goals:

To formulate as well as implement the policies to ensure good governance and


transparent financial systems of MFIs.

To conduct in-depth research on critical microfinance issues and provide policy inputs
to the government consistent with the national strategy for poverty eradication.

To provide training of NGO-MFIs and linking them with the broader financial market
to facilitate sustainable resources and efficient management.

To assist the government to build up an inclusive financial market for economic


development of the country.

To identify the priorities in the microfinance sector for policy guidance and
dissemination of information to attain the MRAs social responsibility.

According to the Act, the MRA will be responsible for the three primary functions that will
need to be carried out, namely:

Licensing of MFIs with explicit legal powers;

Supervision of MFIs to ensure that they continue to comply with the licensing
requirements; and

Enforcement of sanctions in the event of any MFI failing to meet the licensing and ongoing
supervisory requirements.

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List of depository institutions in Bangladesh:


1. Commercial Bank:
After the independence, banking industry in Bangladesh started its journey with 6
Nationalized commercialized banks, 2 State owned Specialized banks and 3 Foreign Banks.
In the 1980's banking industry achieved significant expansion with the entrance of private
banks. Now, banks in Bangladesh are primarily of two types:

Scheduled Banks: The banks which get license to operate under Bank Company Act,
1991 (Amended up to 2013) are termed as Scheduled Banks.

Non-Scheduled Banks: The banks which are established for special and definite
objective and operate under the acts that are enacted for meeting up those objectives,
are termed as Non-Scheduled Banks. These banks cannot perform all functions of
scheduled banks.

There are 56 scheduled banks in Bangladesh who operate under full control and supervision
of Bangladesh Bank which is empowered to do so through Bangladesh Bank Order, 1972 and
Bank Company Act, 1991. Scheduled Banks are classified into following types:

State Owned Commercial Banks (SOCBs): There are 6 SOCBs which are fully or
majorly owned by the Government of Bangladesh.

i.

Sonali Bank Limited

ii.

Janata Bank Limited

iii.

Agrani Bank Limited

iv.

Rupali Bank Limited

v.

BASIC Bank Limited

vi.

BDBL (Bangladesh Development Bank Limited)

Specialized Banks (SDBs): 2 specialized banks are now operating which were
established for specific objectives like agricultural or industrial development. These
banks are also fully or majorly owned by the Government of Bangladesh.
I.
II.

Rajshahi Krishi Unnoyon Bank (RKUB)


Bangladesh Krishi Bank Limited
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Private Commercial Banks (PCBs): There are 39 private commercial banks which
are majorly owned by the private entities. PCBs can be categorized into two groups:
1) AB Bank Limited
2) Bangladesh Commerce Bank Limited
3) Bank Asia Limited
4) BRAC Bank Limited
5) Dhaka Bank Limited
6) Dutch Bangla Bank Limited
7) Eastern Bank Limited
8) IFIC Bank Limited
9) Jamuna Bank Limited
10) Meghna Bank Limited
11) Mercantile Bank Limited
12) Midland Bank Limited
13) Modhumoti Bank Limited
14) Mutual Trust Bank Limited
15) National Bank Limited
16) NCC Bank Limited
17) NRB Bank Limited
18) NRB Commercial Bank Limited
19) NRB Global Bank Limited
20) One Bank Limited
21) Prime Bank Limited
22) Pubali Bank Limited
23) South

Bangla

Agriculture

and

Commerce

Bank

Limited

(www.sbacbank.com)
24) Southeast Bank Limited
25) Standard Bank Limited
26) The City Bank Limited
27) The Farmers Bank Limited
28) The Premier Bank Limited
29) Trust Bank Limited
30) United Commercial Bank Limited
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31) Uttara Bank Limited

Islami Shariah based PCBs: There are 8 Islami Shariah based PCBs in Bangladesh
and they execute banking activities according to Islami Shariah based principles i.e.
Profit-Loss Sharing (PLS) mode.
1) Islami Bank Bangladesh Limited
2) Al-Arafah Islami Bank Limited
3) Export Import Bank of Bangladesh Limited
4) Social Islami Bank Limited
5) Shahjalal islami Bank Limited
6) First Security Islami Bank Limited
7) Union Bank Limited
8) ICB Islamic Bank Limited

Foreign Commercial Banks (FCBs): 9 FCBs are operating in Bangladesh as the


branches of the banks which are incorporated in abroad.
1) Bank Al-Falah
2) Citibank NA
3) Commercial Bank of Ceylon
4) Habib Bank Limited
5) HSBC (The Hong Kong and Shanghai Banking Corporation Ltd.)
6) National Bank of Pakistan
7) Standard Chartered Bank
8) State Bank of India
9) Woori Bank

There are now 4 non-scheduled banks in Bangladesh which are:


1) Ansar VDP Unnayan Bank,
2) Karmashangosthan Bank,
3) Probashi Kollyan Bank,
4) Jubilee Bank

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Specialized banks
Specialized banks were established for specific objectives like agricultural or industrial
development. These banks are also fully or majorly owned by the Government of
Bangladesh.
1. Bangladesh Development Bank Limited
2. Bangladesh Krishi Bank
3. Rajshahi Krishi Unnayan Bank
4. Karmasangsthan Bank
5. Probashi Kallyan Bank
6. Palli Sanchay Bank
7. Grameen Bank
8. Ansar-VDP Unnayan Bank
9. Bangladesh Samabaya Bank Ltd
10. The Dhaka Mercantile co-operative Bank Ltd
11. Progoti Co-operative Land Development Bank Limited (Progoti Bank)
2. Credit unions:
1. The Christian Co-operative Credit Union Ltd.
2. Mausaid Christian Co-operative Credit Union Ltd Dhaka Dhaka City
3. Nagori Christian Co-operative Credit Union Ltd Gazipur Kaliganj
4. Rangamatia Christian Co-operative Credit Union Ltd Gazipur Kaliganj
5. Tumilia Christian Co-operative Credit Union Ltd Gazipur Kaliganj
6. Mathbari Christian Samabaya Rindan Samity Ltd Gazipur Kaliganj
7. Tuital Christian Co-operative Credit Union Ltd Dhaka Nawabganj
8. Dhorenda Christian Samabaya Rindan Samity Ltd. Dhaka Savar
9. Hasnabad Christian Samabaya Rindan Samity Ltd. Dhaka Nawabganj

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10. Solepur Christian Samabaya Rindan Samity Ltd. Munshiganj Sirajdikhan


11. Golla Christian Samabaya Rindan Samity Ltd. Dhaka Nawabganj
12. Bonpara Christian Co-operative Credit Union Ltd. Natore Baraigram
13. Jonail Christian Agriculture Co-operative Credit Union Ltd. Natore Baraigram
14. Rajshahi Sahar Christian Co-operative Credit Union Ltd. Rajshahi Rajshahi City
15. Notre Dame College Karmachari S.R. Samity Ltd.
16. Mathurapur Christian Co-operative Credit Union Ltd. Pabna Chatmohar
17. Jessore Christian Sam.Rindan Samity Ltd. Jessore Jessore Sadar
Non-depository institutions of Bangladesh
1. Finance companies:
Organisations

1) Agrani SME Finance Co. Ltd.


2) Bangladesh Finance & Investment Co. Ltd.
3) Bangladesh Industrial Finance Company Limited (BIFC)
4) Bay Leasing & Investment Limited
5) Delta Brac Housing Finance Corporation Ltd. (DBH)
6) Fareast Finance & Investment Limited
7) FAS Finance & Investment Limited
8) First Lease Finance & Investment Ltd.
9) GSP Finance Company (Bangladesh) Limited (GSPB)
10) Hajj Finance Company Limited
11) IDLC Finance Limited
12) Industrial and Infrastructure Development Finance Company (IIDFC) Limited
13) Industrial Promotion and Development Company of Bangladesh Limited(IPDC)
14) Infrastructure Development Company Limited (IDCOL)
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15) International Leasing and Financial Services Limited


16) Islamic Finance and Investment Limited
17) LankaBangla Finance Ltd.
18) MIDAS Financing Ltd. (MFL)
19) National Finance Ltd
20) National Housing Finance and Investments Limited
21) People's Leasing and Financial Services Ltd
22) Phoenix Finance and Investments Limited
23) Premier Leasing & Finance Limited
24) Prime Finance & Investment Ltd
25) Reliance Finance Limited
26) Saudi-Bangladesh

Industrial

&

Agricultural

Investment

Company

Limited

(SABINCO)
27) The UAE-Bangladesh Investment Co. Ltd
28) Union Capital Limited
29) United Leasing Company Limited (ULCL)
30) Uttara Finance and Investments Limited
2. Mutual funds:
NAME
1) 1st Bangladesh Shilpa Rin Sangstha MF (STBSRS)
2) AB Bank 1st Mutual Fund (ABB1STMF)
3) AIBL First Islamic Mutual Fund (AIBL1STI)
4) AIMS First Guaranteed Mutual Fund (AIMS1ST)
5) DBH First Mutual Fund (DBH1ST)
6) EBL First Mutual Fund (EBL1STMF)
7) EBL NRB Mutual Fund (EBLNRBMF)
8) Eighth Icb Mutual Fund (8THICB)
9) Fifth ICB Mutual Fund (5THICB)
10) First Bangladesh Fixed Income Fund (FBANGFI)
11) First Janata Bank Mutual Fund (1JANATA)
12) Fourth ICB Mutual Fund (4THICB)
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13) Grameen Mutual Fund Scheme 1 (GRAMEEN1)


14) Grameen Mutual Fund Scheme 2 (GRAMEEN2)
15) Green Delta Mutual Fund (GREENDEL)
16) ICB AMCL 2nd Mutual Fund (ICB2DMF)
17) ICB AMCL First NRB Mutual Fund (ICBFNRB)
18) ICB AMCL Islamic Mutual Fund (ICBIS)
19) ICB AMCL Second Nrb Mutual Fund (ICBAMCL)
20) ICB AMCL Third NRB Mutual Fund (ICBTNRB)
21) ICB Employees Provident MF 1: Scheme 1 (ICBEPS1)
22) IFIC Bank First Mutual Fund (IFIC1ST)
23) IFIL Islamic Mutual Fund 1 (IFILIM1)
24) MBL 1st Mutual Fund (MBL1STMF)
25) Phoenix Finance 1st Mutual Fund (PF1STMF)
26) PHP First Mutual Fund (PHPMF1)
27) Popular Life First Mutual Fund (POPULAR1)
28) Prime Bank First ICB AMCL Mutual Fund (PRIME1IC)
29) Prime Finance First Mutual Fund (PRFINFM)
30) Reliance One Mutual Fund (RELIANC1)
31) Second ICB Mutual Fund (2NDICB)
32) Seventh ICB Mutual Fund (7THICB)
33) Sixth ICB Mutual Fund (6THICB)
34) Southeast Bank First Mutual Fund (SEBL1ST)
35) Third ICB Mutual Fund (3RDICB)
36) Trust Bank First Mutual Fund (TRUSTB1)
3. Insurance companies:
LIST OF NON-LIFE INSURANCE COMPANIES
1. Agrani Insurance Company Ltd.
2. Asia Insurance Ltd.
3. Asia Pacific Gen Insurance Co. Ltd.
4. Bangladesh Co-operatives Ins. Ltd.

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5. Bangladesh General Insurance Co. Ltd.


6. Bangladesh National Insurance Co.Ltd.
7. Central Insurance Company Ltd.
8. City Gen. Insurance Company Ltd.
9. Continental Insurance Ltd.
10. Crystal Insurance Company Ltd.
11. Desh Gen. Insurance Company Ltd.
12. Eastern Insurance Company Ltd.
13. Eastland Insurance Company Ltd.
14. Express Insurance Ltd.
15. Federal Insurance Company Ltd.
16. Global Insurance Ltd.
17. Green Delta Insurance Co. Ltd.
18. Islami Commercial Insurance Co. Ltd.
19. Islami Insurance Bangladesh Ltd.
20. Janata Insurance Company Ltd.
21. Karnaphuli Insurance Company Ltd.
22. Meghna Insurance Company Ltd.
23. Mercantile Insurance Company Ltd.
24. Nitol Insurance Company Ltd.
25. Northern Gen.Insurance Company Ltd.
26. Peoples Insurance Company Ltd.
27. Phonix Insurance Company Ltd.
28. Pioneer Insurance Company Ltd.
29. Pragati Insurance Ltd.
30. Pramount Insurance Company Ltd.
31. Prime Insurance Company Ltd.
32. Provati Insurance Company Ltd.
33. Purabi Gen Insurance Company Ltd.
34. Reliance Insurance Ltd.
35. Republic Insurance Company Ltd.
36. Rupali Insurance Company Ltd.
37. Sonar Bangla Insurance Company Ltd.

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38. South Asia Insurance Company Ltd.


39. Standard Insurance Ltd.
40. Takaful Islami Insurance Ltd.
41. Dhaka Insurance Ltd.
42. Union Insurance Company Ltd.
43. United Insurance Company Ltd.
LIST OF LIFE INSURANCE COMPANIES
1. American Life Insurance Company (Foreign Company)
2. Baira Life Insurance Company Ltd.
3. Delta Life Insurance Company Ltd.
4. Farest Islami Life Insurance Co. Ltd.
5. Golden Life Insurance Ltd.
6. Homeland Life Insurance Company Ltd.
7. Meghna Life Insurance Company Ltd.
8. National Life Insurance Company Ltd.
9. Padma Islami Life Insurance Company Ltd.
10. Popular Life Insurance Company Ltd.
11. Pragati Life Insurance Ltd.
12. Prime Islami Life Insurance Company Ltd.
13. Progressive Life Insurance Company Ltd.
14. Rupali Life Insurance Company Ltd.
15. Sandhani Life Insurance Company Ltd.
16. Sunflower Life Insurance Company Ltd.
17. Sunlife Insurance Company Ltd.
LIST OF THE INSURANCE COMPANIES IN PUBLIC SECTOR
1. Sadharan Bima Corporation(Gen. Ins)
2. Jiban Bima Corporation (Life Ins.)

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Reference

1. Class Lecture: BUP Regular Class Lecture and Hand out.


Asst.Prof. dr. Jannatul Ferduse, Faculty of Business Studis Bangladesh University
of Professionals.
2. Book: Financial Markets and Institutions
JEFF MADURA.
3. Bangladesh Bank: Website
https://www.bb.org.bd/
4. Bangladesh Securities and Exchange Commission
http://www.sec.gov.bd/

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