“Initially, we are going to start the bank's commercial activity through six branches with 150 staff," Masihul Haq Chowdhury told Dhaka Tribune
Community Bank Bangladesh Limited (CBBL), an entity of Bangladesh Police Welfare Trust, will start commercial operation formally on September 11.
Prime Minister Sheikh Hasina will inaugurate the bank through teleconference from Ganabhaban, the bank's managing director, and chief executive officer (CEO) Masihul Haq Chowdhury said.
“Initially, we are going to start the bank's commercial activity through six branches with 150 staff," Masihul Haq Chowdhury told Dhaka Tribune.
He said the bank's activity would be expanded in phases.
With headquarters at Police Plaza in Gulshan, the bank branches are Gulshan, Dainik Bangla intersection, Panchabati in Narayanganj, Agrabad in Chittagong, Mowna in Sreepur, and Noapara in Habiganj, a top official of the bank said.
Officials said the bank would offer unique, and digital banking services with the goal to encourage entrepreneurship in the areas of small, and medium sized enterprises that are pivotal to the economic growth.
The bank's MD and CEO previously told Dhaka Tribune that marginal communities like fishermen, rural farmers, and SMEs were not getting loans at low rates of interest.
"Our aim is to work for these underprivileged people. We will emphasize on providing retail loans, and microcredit to SME entrepreneurs," he said.
CBBL is the 59th scheduled bank of the country which obtained license on November 1, 2018.
The bank is fully owned by the Bangladesh Police Kalyan Trust.
Inspector General of Police (IGP) and Bangladesh Police Kalyan Trust chairman Dr. Mohammad Javed Patwary is the chairman of the bank.