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Bangladesh Central Bank Strengthening Project

Abstract*

The objective of the project is to achieve a strong, and effective regulatory, and supervisory system for Bangladesh's banking sector. This would be accomplished by supporting the overall strengthening of Bangladesh Bank (BB), the central bank, to enable it to play its due role as the country's monetary authority, and bank regulator, and supervisor. The first component is made up o f the following activities:(a) Legal Counsels - would be entail engaging...

* The project abstract is drawn from the PAD, SAR or PGD and may not accurately reflect the project's current nature

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Development Objective

To achieve a strong and effective regulatory and supervisory system for Bangladesh's banking sector.

Key Details

Project Details

  • P062916

  • Closed

  • Shamsuddin Ahmad

  • N/A

  • Bangladesh

  • May 10, 1999

  • (as of board presentation)

    June 19, 2003

  • September 28, 2003

  • US$ 46.13 million

  • N/A

  • South Asia

  • 2003

  • US$ 37.00 million

  • C

  • Not Applicable

  • December 31, 2012

  • BANK APPROVED

  • January 15, 2013

  • Notes

Finances

Financing Plan (US$ Millions)

No data available.
Financier Commitments
IDA Credit 37.00
Borrower/Recipient 9.13

Total Project Financing (US$ Millions)

Product Line IBRD/IDA
IBRD Commitment N/A
IDA Commitment 37.00
IBRD + IDA Commitment 37.00
Lending Instrument
Grant Amount N/A
Total Project Cost** 46.13

Summary Status of World Bank Financing (US$ Millions) as of April 30, 2025

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No data available.
Financier Approval Date Closing Date Principal Disbursed Repayments Interest, Charges & Fees

Detailed Financial Activity as of April 30, 2025

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No data available.
Period Financier Transaction Type Amount (US$)
Jun 1, 2024 IDA-37920 Loan Repay 636,815.25
Jun 1, 2024 IDA-37920 Int Charges 93,134.23
Jun 1, 2024 IDA-37920 Int Charges 93,134.23
Jun 19, 2003 IDA-37920 Loan Commitment 37,000,000.00
Dec 1, 2022 IDA-37920 Loan Repay 9,854.69
Dec 1, 2022 IDA-37920 Loan Repay 307,908.22
Dec 1, 2022 IDA-37920 Int Charges 84,821.86
Dec 1, 2022 IDA-37920 Int Charges 84,821.86
Jun 1, 2023 IDA-37920 Int Charges 97,186.88
Jun 1, 2023 IDA-37920 Int Charges 97,186.88
Jun 1, 2023 IDA-37920 Int Charges 12,979.21
Jun 1, 2023 IDA-37920 Int Charges 12,979.21
Jun 1, 2023 IDA-37920 Loan Repay 319,956.94
Dec 1, 2023 IDA-37920 Int Charges 86,590.35
Dec 1, 2021 IDA-37920 Int Charges 106,054.70
Dec 1, 2021 IDA-37920 Int Charges 106,054.70
Dec 1, 2021 IDA-37920 Int Charges 8,842.89
Dec 1, 2021 IDA-37920 Int Charges 8,842.89
Jun 1, 2022 IDA-37920 Loan Repay 320,636.16
Jun 1, 2022 IDA-37920 Int Charges 101,021.26
Jun 1, 2022 IDA-37920 Int Charges 101,021.26
Jun 1, 2022 IDA-37920 Loan Repay 3,930.14
Dec 1, 2020 IDA-37920 Int Charges 104,965.81
Dec 1, 2020 IDA-37920 Int Charges 104,965.81
Dec 1, 2020 IDA-37920 Int Charges 1,789.65
Dec 1, 2020 IDA-37920 Int Charges 1,789.65
Jun 1, 2014 IDA-37920 Loan Repay 370,040.06
Jun 1, 2014 IDA-37920 Int Charges 137,583.44
Jun 1, 2014 IDA-37920 Int Charges 137,583.44
Dec 1, 2014 IDA-37920 Loan Repay 1,573.57
Dec 1, 2014 IDA-37920 Loan Repay 350,516.66
Dec 1, 2014 IDA-37920 Int Charges 129,393.16
Dec 1, 2014 IDA-37920 Int Charges 129,393.16
Sep 3, 2013 IDA-37920 Loan Disb -324,701.34
Sep 3, 2013 IDA-37920 Loan Cancel 4,751,079.50
Dec 1, 2013 IDA-37920 Int Charges 139,292.12
Dec 1, 2013 IDA-37920 Int Charges 139,292.12
Dec 1, 2013 IDA-37920 Int Charges 1,592.46
Dec 1, 2013 IDA-37920 Int Charges 1,592.46
Dec 1, 2013 IDA-37920 Loan Repay 369,329.70
Dec 1, 2017 IDA-37920 Int Charges 9,283.97
Dec 1, 2017 IDA-37920 Int Charges 9,283.97
Dec 1, 2017 IDA-37920 Int Charges 115,985.82
Dec 1, 2017 IDA-37920 Int Charges 115,985.82
Dec 1, 2017 IDA-37920 Loan Repay 341,281.30
Dec 1, 2016 IDA-37920 Loan Repay 323,508.97
Dec 1, 2016 IDA-37920 Int Charges 114,764.96
Dec 1, 2016 IDA-37920 Int Charges 114,764.96
Dec 1, 2016 IDA-37920 Loan Repay 2,065.33
Jun 1, 2016 IDA-37920 Loan Repay 8,687.88
Jun 1, 2016 IDA-37920 Loan Repay 328,787.56
Jun 1, 2016 IDA-37920 Int Charges 120,225.66
Jun 1, 2016 IDA-37920 Int Charges 120,225.66
Jun 1, 2017 IDA-37920 Loan Repay 13,821.90
Jun 1, 2015 IDA-37920 Loan Repay 6,290.15
Jun 1, 2015 IDA-37920 Loan Repay 327,711.40
Jun 1, 2015 IDA-37920 Int Charges 118,671.56
Jun 1, 2015 IDA-37920 Int Charges 118,671.56
Dec 1, 2015 IDA-37920 Int Charges 2,792.15
Dec 1, 2015 IDA-37920 Int Charges 2,792.15
Dec 1, 2015 IDA-37920 Loan Repay 330,527.70
Dec 1, 2015 IDA-37920 Int Charges 118,989.94
Dec 1, 2015 IDA-37920 Int Charges 118,989.94
Jun 1, 2014 IDA-37920 Loan Repay 555.02
Dec 1, 2020 IDA-37920 Loan Repay 343,778.44
Jun 1, 2021 IDA-37920 Loan Repay 347,634.84
Jun 1, 2021 IDA-37920 Int Charges 101,678.05
Jun 1, 2021 IDA-37920 Int Charges 101,678.05
Jun 1, 2021 IDA-37920 Int Charges 5,968.91
Jun 1, 2021 IDA-37920 Int Charges 5,968.91
Dec 1, 2021 IDA-37920 Loan Repay 336,681.56
Jun 1, 2020 IDA-37920 Int Charges 0.01
Jun 1, 2020 IDA-37920 Int Charges 0.01
Jun 1, 2020 IDA-37920 Int Charges 105,907.75
Jun 1, 2020 IDA-37920 Int Charges 105,907.75
Jun 1, 2020 IDA-37920 Int Charges 3,477.00
Jun 1, 2020 IDA-37920 Int Charges 3,477.00
Jun 1, 2020 IDA-37920 Loan Repay 329,885.38
Dec 1, 2018 IDA-37920 Int Charges 112,309.04
Jun 1, 2019 IDA-37920 Loan Repay 4,038.18
Jun 1, 2019 IDA-37920 Loan Repay 327,379.62
Jun 1, 2019 IDA-37920 Int Charges 110,610.71
Jun 1, 2019 IDA-37920 Int Charges 110,610.71
Dec 1, 2019 IDA-37920 Loan Repay 3,378.71
Dec 1, 2019 IDA-37920 Loan Repay 326,903.62
Dec 1, 2019 IDA-37920 Int Charges 105,511.98
Dec 1, 2019 IDA-37920 Int Charges 105,511.98
Jun 1, 2018 IDA-37920 Int Charges 116,379.29
Jun 1, 2018 IDA-37920 Int Charges 1,754.96
Jun 1, 2018 IDA-37920 Int Charges 1,754.96
Jun 1, 2018 IDA-37920 Loan Repay 341,038.30
Jun 1, 2018 IDA-37920 Int Charges 116,379.29
Dec 1, 2018 IDA-37920 Loan Repay 11,741.60
Dec 1, 2018 IDA-37920 Loan Repay 321,025.84
Dec 1, 2018 IDA-37920 Int Charges 112,309.04
Jun 1, 2017 IDA-37920 Loan Repay 319,318.40
Jun 1, 2017 IDA-37920 Int Charges 107,120.17
Jun 1, 2017 IDA-37920 Int Charges 107,120.17
Dec 1, 2023 IDA-37920 Int Charges 86,590.35
Dec 1, 2023 IDA-37920 Loan Repay 4,931.95
Dec 1, 2023 IDA-37920 Loan Repay 636,078.94
Jun 1, 2024 IDA-37920 Int Charges 9,498.73
Jun 1, 2024 IDA-37920 Int Charges 9,498.73

Footnotes

Ratings

IMPLEMENTATION RATINGS

Name Review Date
Counterpart Funding Satisfactory 2012-12-22
Progress towards achievement of PDO Moderately Unsatisfactory 2012-12-22
Procurement Moderately Satisfactory 2012-12-22
Monitoring and Evaluation Moderately Unsatisfactory 2012-12-22
Project Management Moderately Satisfactory 2012-12-22
Financial Management Moderately Satisfactory 2012-12-22
Overall Implementation Progress (IP) Moderately Unsatisfactory 2012-12-22

COMPLETION RATINGS

INDICATORIMPLEMENTATION COMPLETION & RESULTS REPORT: 06-25-2013
OutcomesModerately Satisfactory
Risk to Development OutcomeModest
Bank PerformanceModerately Unsatisfactory
Borrower PerformanceModerately Unsatisfactory
Government PerformanceModerately Unsatisfactory
Implementing AgencyModerately Unsatisfactory

INDEPENDENT EVALUATION RATINGS

INDICATORICR REVIEW: 09-30-2014PROJECT PERFORMANCE ASSESSMENT REPORT:
Outcome RatingModerately Unsatisfactory N/a
Risk To Development OutcomeModerateN/a
Bank PerformanceModerately UnsatisfactoryN/a
Borrower PerformanceModerately UnsatisfactoryN/a
Government PerformanceModerately UnsatisfactoryN/a
Implementing AgencyModerately UnsatisfactoryN/a
Icr QualitySatisfactoryN/a
M&e QualityModestN/a

Results Framework

PROJECT DEVELOPMENT OBJECTIVE INDICATORS

INDICATORBASELINECURRENTTARGET
  • Acceptance and implementation of ERP by BBValueYesYesYes
    DateDecember 27, 2009November 30, 2012December 31, 2012
    CommentBB does not have ERP system.ERP is fully functional at BB. All HR functions, such as, recruitment, transfer, promotion, payroll and Provident Fund Managementare done through HR module of SAP.Financial management and accounting are done through FICO module of SAP. All procurement, andmaintenance of asset inventory are done through MM module of SAP. Regular Financial Statements are generated from ERP and bookclosingis completed in SAP.ERP fully functional at BB.
  • Acceptance and implementation of Banking Application by BBValueYesYesYes
    DateDecember 27, 2009November 30, 2012December 31, 2012
    CommentBB does not have Banking Application system.The Banking application is fully functional at BB. The Core Banking solution is used for: all banking transactions ofgovernment,banks and financial institutions; Reserve Management; vault operation and cash management; and sale, encashment, couponpayment, andreimbursement of all government Savings Certificates. The Treasury module is used for international reserve management;and the Market Infrastructure module is used for: auction; secondary sale and purchase; REPO; Reverse REPO; security transfer; andfund settlement. Electronic fund transfer operation for government salary payments has started for 1,611 officials of 17ministries includingthe Prime Minister's Office.Banking application fully functional at BB
  • Acceptance and implementation of Data Warehouse by BBValueYesYesYes
    DateDecember 27, 2009November 30, 2012December 31, 2012
    CommentBB does not have any Data Warehouse.Enterprise Data Warehouse (EDW) is fully operational at BB. Banks are submitting all the returns and reports through onlineweb-based application of EDW. All other financial institutions are submitting their returns via Rationalized Input Templatesdirectly through the web portal. Many reports are currently generated from this application. A Dashboard has been developed withkey indicators so that management can get a compact view of the financial sector.Data Warehouse fully functional at BB.

INTERMEDIATE RESULTS INDICATORS

INDICATORBASELINECURRENTTARGET
  • Key staff in computer department receive adequate training.ValueInadequte training programs and facilities.A regular computer training program, as a mandatorContinuous training ensured through a regular comp
    DateMay 4, 2003November 30, 2012December 29, 2012
    CommentAll the IT packages included training of key staff in the IT Department of BB. Moreover, 30 BB officials participated in overseastraining on ERP. 265 officials were trained as end users and TOT for ERP. 50 officials from IT Department and 50 from businessdepartments were trained on EDW. 135 business users and IT officials have been trained on the Banking package. Overseas trainingcontinues to be imparted on ERP, Banking, EDW, and networking.
  • BB work processes fully automated.ValueManual work processes in BB.Implementation of BB automation completed with allImplementation of BB automation component well adv
    DateMay 4, 2003November 30, 2012December 31, 2012
    CommentAll the IT contracts have been implemented, except for the National Payment Switch which is expected to "go Live" by end ofDecember 2012. More than 3,500 officials are now connected in the network and have access to BB Intranet and webmail. All the BBbranchesare now connected under the same network. Printing of circulars and office orders have already been stopped and are postedin the Intranet. BB is now using e-tendering for its own procurement. Electronic Fund Transfer Network is fully operational.
  • Modern HR policies adopted.ValueOutdated and archaic HR policies in BB.HR policies have been revised and modernized.HR policies modernized
    DateMay 4, 2003November 30, 2012December 31, 2012
    CommentBB is using the newly developed application forms for recruitment of AD. A new promotion policy and a Recognition and Rewardpolicyhave been adopted by BB, along with a modern PMS. A Recreation Leave Policy has been implemented as a "quick win."
  • A modern performance management system in place.ValueOutdated performance management system (PMS) in plA modern Performance Management System (PMS) has bModern performance management system adopted and p
    DateMay 4, 2003November 30, 2012December 31, 2012
    CommentThe annual performance appraisal is now being conducted through PMS. BB Managers are not yet fully conversant with this process.Acompetency model has also been introduced.
  • Quality research reports on vital issues prepared and disseminated by BB.ValueResearch reports not up to the mark.A Chief Economist Office has been set up and headePolicy Analysis Unit staffed to carry out quality
    DateMay 4, 2003November 30, 2012December 31, 2012
    CommentPAU is regularly publishing policy notes, working papers, Monetary Policy Review, Bangladesh Bank Quarterly, and Financial SectorReview. The PAU has published 26 policy notes, 31 working papers on various monetary, fiscal and development issues, 8 MonetaryPolicy Reviews (MPR), and 7 Financial Sector Review (FSR). Eight eminent economists from the country have been contracted toconduct research along with BB staff.
  • Bank supervisory policy manual upgraded.ValueOutdated supervisory policy manual.A draft of the Risk-based Inspection Manual for BaUpgraded manuals adopted and practised.
    DateMay 4, 2003November 30, 2012December 31, 2012
    CommentBB is being helped by the IMF's Resident Adviser to upgrade the bank supervisory policy manual in line with risk-based supervisionframework.
  • Timely and accurate preparation and reporting of financial statistics, by BB by June 30, 2012.ValueFinancial statistics are published with a lag of oThe lag in reporting of most of the financial statThe lag in reporting of financial statistics broug
    DateMay 4, 2003November 30, 2012December 31, 2012
    CommentAlmost all the banks have made the changes in their systems to generate data in the required format for submission through theon-line Rationalized Input Templates (RIT). Banks and financial institutions have stopped submitting hard copies of returns andstatements from November 2012, and reporting of financial statistics is fully automated now.
  • Timely and accurate accounting and reporting of government accounts and securities, by June 30, 2012.ValueThe process of accounting and reporting of governmReporting of government accounts and securities arTimely and accurate accounting and reporting of g
    DateApril 26, 2010November 30, 2012December 31, 2012
    CommentBanking and ERP systems are now under implementation, and these systems will support BB to prepare timely and accurate financialstatistics.All the government transactions are now being processed through the Banking Application package, and the daily debit and creditscrolls of the government accounts are shared with the government in electronic form at the end of the day.
  • Timely and accurate submission of prudential returns, by FIs and better management of foreign exchange, by BB by June 30, 2012ValueThe process of submission of prudential returns byThe financial institutions are submitting their prTimely and accurate submission of prudential retur
    DateApril 26, 2010November 30, 2012December 31, 2012
    CommentThese processes will be automated through the implementation of Datawarehose and ERP systems.All the financial institutions (FIs) are submitting the prudential returns via Rationalized Input Templates directly to BB throughthe web portal. The Treasury Module under Core Banking Solution is used to better manage foreign exchange reserves.
  • Systems installed in BB to capture and share data on AML/CFT, by June 30, 2012ValueSystems are manual at this stage.The Financial Intelligence Unit (FIU) at BB is recSystems installed in BB to capture and share data
    DateApril 26, 2010November 30, 2012December 31, 2012
    CommentInstallation of AML/CFT systems would wait till BB installs all its IT packages and make them functional for BB's efficientfunctioning.Customization of the "goAML" software is being carried out by UNODC in a test environment. Procurement of additional hardwareincluding servers has been initiated and the hardware is expected to be delivered in December 2012. The customized software willbe transferred to the dedicated servers in December 2012.