Jamuna Bank Limited

Jamuna Bank Limited, now commonly styled Jamuna Bank PLC., is a Bangladeshi private commercial bank established on 3 June 2001. It is generally described as a third-generation private commercial bank, created by a group of local entrepreneurs to provide conventional banking services across Bangladesh. Its head office is in Gulshan-1, Dhaka, and the bank has operated a broad branch network serving both urban and rural communities; the cited Wikipedia account recorded 132 branches in March 2019. The bank's business covers ordinary commercial banking, including deposit-taking, lending, remittances, trade finance, corporate and SME banking, retail accounts, cards, payments and electronic banking. It has also provided Islamic banking through designated branches or Islamic-banking operations. Real-time online banking has been offered through branches in both metropolitan and non-metropolitan areas, reflecting the bank's effort to combine a conventional branch footprint with digital transaction services. The available reference material does not establish a complete current product catalogue, balance-sheet profile, ownership structure or current branch count, so those details are left unspecified here. Jamuna Bank's institutional history has included repeated changes in board leadership and senior management. M. A. Khayer was the founding chairman. Subsequent chairmen identified in the reference material include Sakhawat Abu Khair Mohammad, Md Belal Hossain, Md Mahmudul Hoque, Shaheen Mahmud, Md Sirajul Islam Varosha, Gazi Golam Murtoza, Md Ismail Hossain Siraji, Md Atiqur Rahman, Fazlur Rahman, Gazi Golam Ashria and Nur Mohammed. Shafiqul Alam served as managing director during a substantial part of the 2010s, while Mirza Elias Uddin Ahmed was appointed managing director in 2019. The supplied sources do not provide a verified current executive roster. The bank has appeared in several legal and regulatory matters. These included cases connected with an alleged forged cheque involving a former chairman, investigations into the Bismillah Group loan scandal, an alleged embezzlement case involving bank personnel, and proceedings arising from a customer's complaint over non-payment after a court judgment. In 2020, the Anti-Corruption Commission arrested three bank officials in a case alleging embezzlement. In 2022, entertainer and cricketer Shakib Al Hasan sued the bank over alleged unauthorized use of his image. These reports concern allegations or court proceedings and should not be read as findings against the institution unless a source expressly says so. The bank has also pursued public-facing and strategic initiatives. It donated BDT 15 million to the Prime Minister's relief fund for victims of election-related violence, announced a plan in 2022 to issue bonds worth BDT 5 billion, and received permission from Bangladesh Bank to establish an exchange house in Spain. The reference material also reports a 2022 inspection finding involving seven suspected fake notes in a Bogura branch vault. The available material does not confirm whether every announced initiative was completed, nor does it provide reliable current financial figures.

Jamuna Bank was established on 3 June 2001 as a third-generation private commercial bank in Bangladesh. Its formation was attributed to a group of local entrepreneurs, with M. A. Khayer serving as founding chairman. From the beginning, the bank's role was that of a full-service domestic commercial bank, combining deposit accounts and lending with trade, corporate and retail services. Its head office was established in Gulshan-1, Dhaka. During its first two decades, Jamuna Bank developed a branch-based presence across Bangladesh and added real-time online banking capabilities in urban and rural locations. The bank also operated Islamic banking through designated branches or business units alongside conventional banking. The available reference does not provide a complete chronology of branch openings, digital products, financial results or ownership changes. It records 132 branches as of March 2019. Governance changed frequently. Sakhawat Abu Khair Mohammad became chairman in April 2009, followed by Md Belal Hossain in April 2011 and Md Mahmudul Hoque in May 2012. Shaheen Mahmud held the chairmanship in 2014, Md Sirajul Islam Varosha was elected in April 2015, and Gazi Golam Murtoza was elected in May 2016. Md Ismail Hossain Siraji became chairman in May 2017. In April 2019, Md Atiqur Rahman was elected chairman, while Mirza Elias Uddin Ahmed was appointed managing director in October of that year. Fazlur Rahman became chairman in May 2020, Gazi Golam Ashria was appointed chairman in May 2021, and Nur Mohammed was elected chairman in April 2022. The supplied sources do not identify the present chairperson or managing director. The bank's history has also been marked by legal and regulatory scrutiny. In 2012, Borak Real Estate sued former chairman Arifur Rahman over an alleged forged BDT 150 million cheque. Rahman received a one-year sentence in January 2016, and the Bangladesh High Court reportedly upheld it in 2017. In 2013, the Anti-Corruption Commission questioned Jamuna Bank officials in connection with the Bismillah Group loan scandal, in which forged documents were allegedly used to obtain approximately BDT 11 billion from multiple banks. In 2014, the Supreme Court directed Mozammel Hossain to surrender in connection with two money-laundering cases arising from that wider matter. In 2015, the Anti-Corruption Commission filed an alleged embezzlement case involving several Jamuna Bank personnel and an executive of Raihan Packaging Industries. The case concerned approximately BDT 80 million. In 2019, the High Court summoned managing director Shafiqul Alam over a customer-payment dispute related to a prior judgment, and contempt proceedings were subsequently reported. The same year, a security guard was found dead in an ATM booth in Baridhara, although the supplied account does not establish a link to bank conduct. In December 2020, three bank officials were arrested in Bogura in an Anti-Corruption Commission case alleging embezzlement of approximately BDT 158.6 million. In 2022, Shakib Al Hasan brought a lawsuit over alleged unlicensed use of his image. That year also brought a reported Bangladesh Bank inspection finding involving seven suspected fake notes in a Bogura branch vault. Alongside these controversies, Jamuna Bank has engaged in public and strategic initiatives. It donated BDT 15 million to the Prime Minister's relief fund for people affected by election-related violence, announced plans for a BDT 5 billion bond issue in 2022, and received permission to establish an exchange house in Spain. The source material does not confirm the completion or continuing status of every initiative.

• 2022

  Bond plan and Spain exchange-house approval

  [1]Jamuna Banken.wikipedia.org

  The bank announced a planned bond issue and received permission to establish an exchange house in Spain.

• 2019

  Branch network recorded at 132 locations

  [1]Jamuna Banken.wikipedia.org

  The cited reference recorded 132 Jamuna Bank branches in March.

• 2016

  Managing director reappointed

  [1]Jamuna Banken.wikipedia.org

  Shafiqul Alam was reappointed managing director in January.

• 2013

  Bismillah Group investigation

  [1]Jamuna Banken.wikipedia.org

  The Anti-Corruption Commission questioned officials in relation to the Bismillah Group loan scandal.

• 2009

  New chairman elected

  [1]Jamuna Banken.wikipedia.org

  Sakhawat Abu Khair Mohammad became chairman in April.

• 2001

  Bank established

  [1]Jamuna Banken.wikipedia.org

  Jamuna Bank was established on 3 June as a Bangladeshi third-generation private commercial bank.

A nationwide Bangladeshi private commercial bank combining branch-based banking with online services and designated Islamic-banking operations.

• Consumer banking

  Retail banking

  Jamuna Bank's retail activity includes everyday deposit accounts, savings products, personal finance, cards and payment services. The available references identify the business broadly but do not provide a verified current list of named retail products or their terms.

• Commercial banking

  Corporate and SME banking

  The bank serves businesses through commercial lending, working-capital facilities, trade-related services and other corporate banking functions. Small and medium-sized enterprises are part of its stated domestic banking scope, although detailed current eligibility and product terms are not supplied.

• Shariah-based banking

  Islamic banking

  Jamuna Bank has provided Islamic banking through designated branches or operations. The reference material does not establish a complete list of Shariah-compliant accounts, financing products or the current organizational model.

• Digital banking

  Real-time online banking

  The bank has operated real-time online banking branches in both urban and rural areas, supporting electronic access to banking services alongside its physical network. Specific platform features and current availability are not documented in the supplied sources.

• 2022

  Image-licensing lawsuit

  Shakib Al Hasan sued Jamuna Bank over alleged unauthorized use of his image.

  Source

• 2020

  Bogura embezzlement arrests

  Three Jamuna Bank officials were arrested in an Anti-Corruption Commission case alleging embezzlement of approximately BDT 158.6 million.

  Source

• 2015

  Alleged embezzlement by bank personnel

  The Anti-Corruption Commission filed a case alleging that bank personnel and an outside executive misappropriated approximately BDT 80 million.

  Source

• 2013

  Bismillah Group loan scandal

  The Anti-Corruption Commission questioned bank officials during an investigation into allegedly forged documentation used to obtain loans from several banks, including Jamuna Bank.

  Source

• 2012

  Alleged forged cheque involving former chairman

  Borak Real Estate sued former chairman Arifur Rahman over an alleged forged BDT 150 million cheque; the reported one-year sentence was later upheld by the High Court.

  Source

Read more

• Relief-fund donation

  Bangladesh

  Jamuna Bank donated BDT 15 million to the Prime Minister's relief fund for people affected by election-related violence.

  Source

• 2022

  Plan to issue bondsStrategy

  Background

  Jamuna Bank announced plans to raise funding through a bond issue.

  Action taken

  The bank announced a proposed bond issue with a stated face value of BDT 5 billion.

  Aftermath

  The supplied material does not confirm whether the issue was completed or its final terms.

  Source

• 2022

  Expansion through a Spain exchange houseStrategy

  Background

  The bank pursued an overseas remittance and foreign-exchange presence.

  Action taken

  Bangladesh Bank granted permission for Jamuna Bank to establish an exchange house in Spain.

  Aftermath

  The available source does not verify the opening date or subsequent operating status.

  Source

1. 1Jamuna Banken.wikipedia.org
2. 2Jamuna Bank official websitejamunabankbd.com