Introduction of BAB
Bangladesh Association of Banks (BAB) is an advisory service organization for the private commercial banks. It has now emerged as an effective forum for exchanging views on problems being faced by the banking sector of Bangladesh and for formulating common policy guidelines in addressing such problems.
Established under Companies Act-1913, BAB started its activities in 1993 with 9(nine) commercial banks which increased to 29 (twenty-nine) at the end of December 2007.
The Management of BAB is vested in its Executive Committee. The Chairman and Vice Chairmen of the Association are elected by the Members of the Executive Committee. The Executive Committee consists of nominees of the member banks, each bank nominating one member. The term of such Executive Committee is for two years.
Main Objectives of BAB
- To further the interest of banks in Bangladesh.
- To acts an advisory body to its member banks.
- To evolve a common thinking through exchange of views among the members towards solution of the problems faced by the banking sector.
- To maintain close contact with Bangladesh Bank, Ministries and other appropriate authorities in order to tide over the difficulties faced by the banking sector.
- To provide guidance to the member banks for conduct of banking business.
- To exchange views with the representatives of international financial agencies and eminent economists on matters relating to money and banking.
- To collect, classify and disseminate statistical and other information relating to banking.
- To organize seminars/workshop/training programmes for removing knowledge gap among the different level of officers of member banks.
- To publish periodical newsletters, bulletins and other publications on matters relating to banking
- To become member of any to her Association/Body, which is likely to promote the objects of BAB
- To provide various common services to its members.
- To project the cause of banking sector in general.