Md. Anisur Rahman has been appointed as managing director (MD) and CEO of state-owned BASIC Bank for the next three years
Before this appointment, he was deputy managing director (DMD) of Agrani Bank, said a press release on Thursday.
He joined at Agrani Bank as a senior officer in 1988 under BRC and served in different capacities of the bank, including Head Office divisions, circles and branches.
Rahman obtained honours and master's degrees in mathematics from Dhaka University.
BASIC Bank Limited (Bangladesh Small Industries and Commerce Bank Limited) registered under the Companies Act 1913 on the 2nd of August, 1988, started its operations from the 21st of January, 1989. It is governed by the Banking Companies Act 1991.
The bank was established as the policy makers of the country felt the urgency for a bank in the private sector for financing small scale Industries (SSIs). At the outset, the bank started as a joint venture enterprise of the BCC Foundation with 70 percent shares and the Government of Bangladesh (GOB) with the remaining 30 percent shares. The BCC Foundation being nonfunctional following the closure of the BCCI, the Government of Bangladesh took over 100 percent ownership of the bank on 4th June 1992. Thus the bank is state-owned. However, the Bank is not nationalized; it operates like a private bank as before.
BASIC Bank Limited is unique in its objectives. It is a blend of development and commercial banks. The Memorandum and Articles of Association of the bank stipulate that 50 percent of loanable funds shall be invested in small and medium industries sector.