The Oriental Bank Limited (TOBL) was established by a group of eminent entrepreneurs of Bangladesh in joint collaboration with the Islamic Development Bank, Jeddah and Dallah Albaraka Group of Saudi Arabia. The Bank was incorporated as the 2nd Shariah based interest-free Bank on April, 30, 1987 under the Companies Act, 1913, to carry out all kinds of banking and financial operations in strict compliance with the principles of Islamic Law (Shariah). The Bank was authorised by the Bangladesh Bank to carry on the banking business in Bangladesh with effect from May 4, 1987. However, the Bank commenced its banking business on April 30, 1987. Initially Bank started its operation in the name of Al Baraka Bank Bangladesh Limited but on December 31, 2002 it was renamed as “The Oriental Bank Limited” by the Registrar of Joint Stock Companies. The new name of Bank was approved by Bangladesh Bank on April 13, 2003.

The Bank, in the meantime introduced the following Deposit Schemes:
Monthly profit on MTD Scheme
Marriage Savings Scheme
Higher Education Savings Scheme
Savings Scheme of Children
Future Deposit Savings Scheme (5 years)
Future Deposit Savings Scheme (10 years)
Hajj Deposit Savings Scheme
Housing Savings Scheme
Privileged Citizen Scheme
07 (seven) years double growth Scheme for the citizens of Bangladesh.

The Bank has already introduced SWIFT. Further, the Bank is using a multi‑user Banking Software.