Credit Card of Standard Chartered Bank

Abstract

Bangladesh is a country where a substantial segment of the population lives below the subsistence level. Economy of the country is grouped in the world's most underdeveloped economies. One of the reasons behind it might be its weak and unorganized banking system. Country's banking system is characterized by strict regulations and monitoring from the central governing body, The Bangladesh Bank. As the government is often the owner and regulator as well as the supervisor and customer of a bank, there have been many opportunities for mismanagement over the years. The banking sector is plagued with a lack of credit discipline, archaic loan recovery law, corruption, inefficiency, overstaffing, etc. Several reform measures of the financial sector have been taken to improve the situation. Relative stability achieved by the support extended by both the central bank and the Government of Bangladesh in the past has restored public confidence in the country's banking sector. Currently the banking sector of Bangladesh can be classified in five disciplines: Bangladesh Bank Nationalized Commercial Banks (NCBs), Private Commercial banks (PCBs) Foreign Commercial Banks (FCBs) Development Financial Institutions (DFIs) or Development! Specialized Banks Bangladesh Bank (BB) has been working as the central bank since the country's independence. Its prime jobs include issuing of currency, maintaining foreign exchange reserve and providing transaction facilities of all public monetary matters. BB is also responsible for planning the government's monetary policy and implementing it thereby. The BB has a governing body comprising of nine members with the Governor as its chief.