(a) The Ancient Era:
Many Economists and Experts have expressed their opinion that banking business have been going on since ancient
era. Many evidences are found with the archaeological symbols of Harappa and Mohenjodaro. From different religious
scriptures we find a lot of information regarding modern banking activities.
(b) The Moghal Era:
The banking system has been extensively developed during the Moghal Era. During that time government treasury
was formed.The Govt. introduced gold and silver coins of different denominations named „Ashrafi‟. Thus banking
system has been developed. During that period „Seth Family‟ was world famous. They used to conduct business
through agency house. Among the local bankers marwari, multani, kabuliwala, sharaf,chetti etc.worth mention. In the
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seventeenth century , English Tradesmen were involved with them. In 1700 The Hindustan Bank was established as a
joint venture bank.
(c) The British Era:
The expansion program of the modern bank started when the English took power of India. In 1784 the Bengal Bank
introduced paper currency notes and gold coins of different denominations. Later, in 1787 General Bank of India, in
1806 Bank of Bengal, in 1840 Bank of Bombay and in 1843 Bank of Madras were established. With merging of three
banks, the Imperial Bank of India was established in 1920 and in 1935 the Reserve Bank of India came into being.
(d) The Pakistan Era:
In 1947 during the separation of India, 639 branches of different banks were the parts of Pakistan. Besides, Head
Offices of Habib Bank Limited and Muslim Commercial Bank Limited were transferred to Karachi. In 1948 the State
Bank of Pakistan was established.
(e) The Bangladesh Era:
Bangladesh came into being in 1971. Since then a branch of state bank of Pakistan stationed at Dhaka was declared
Central Bank of Bangladesh named as Bangladesh Bank under Special Act. Excepting other banks, Head Offices of
two banks e.g. Eastern Mercantile Bank Limited(1959) and Eastern Banking Corporation Limited(1965) were at Dhaka
which were renamed as Pubali Bank Limited and Uttara Bank Limited respectively. In this country of 14 crores people
about 57 banks ( Govt. bank 4; Local private 30; Foreign 12; specialized 7 and others 4) with about 5500 branches
and about 1,10,000 officers / staff; are functioning for socio-economic development.
With two banks as above many branches of more than 10 banks were located in Bangladesh. When the Non- Bangali
owners had left the country the disastrous condition of banks in Bangladesh knew no bounds. The fact remains that
most of the bankers and staff were non-bangalies. Consequently, the management and control of all such banks were
reposed on Bangladesh Government. In 1972 Government, pursuant to Presidents‟ Order 26, had nationalized all
banks. The banking system of Bangladesh came to a standstill. After nationalization the banks were renamed as
under:
Sl. Former Name Present Name
01. The National Bank of Pakistan
The Bank of Bhowalpur Limited,
The Premier Bank Limited Sonali Bank (Sonali Bank Limited)
02 The United Bank Limited
The Union Bank Limited Janata Bank ( Janata Bank Limited)
03. The Habib Bank Limited
Commerce Bank Limited Agrani Bank ( Agrani Bank Limited)
04. The Muslim Commercial Bank Limited
The Standard Bank Limited Rupali Bank (Rupali Bank
The Australasia Bank Limited
05. The Eastern Mercantile Bank Limited Pubali Bank Limited
06. The Eastern Banking Corporation Limited Uttara Bank Limited
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