Premier Bank PLC.

Premier Bank PLC. is a private commercial bank headquartered in Banani, Dhaka, Bangladesh. The institution was incorporated on 10 June 1999 and operates under the Premier Bank name in Bangladesh's regulated banking sector. Its business covers conventional commercial-banking activities, including deposit accounts, lending, payments, cards, remittances, corporate banking, and digital channels. The bank serves individual customers, businesses, institutions, and other organizational clients through its branch network and electronic services. The bank's service model has expanded beyond branch-based banking. Its Pmoney mobile-banking application, launched in 2019, provides functions such as account-related banking, bill payment, fund transfers, mobile top-ups, service requests, beneficiary management, branch and location information, and mail notifications. Later digital initiatives included a quick-account service introduced in 2024, designed to let customers initiate account opening electronically, and the Green PIN service, which enables customers to activate cards or generate new PINs through the bank's website or Pmoney application. Premier Bank has also developed card and payment products for specialized users. In 2023 it partnered with Mastercard on a prepaid card intended for travel agents. The product was described as supporting visa-fee payments, offering benefits related to travel-quota endorsement, permitting transactions without a stated single-transaction expense ceiling, and carrying no annual fee, subject to applicable banking and regulatory conditions. The institution has experienced leadership changes and regulatory scrutiny during its history. Khondker Fazle Rashid became managing director in 2007, followed by M Shah Alam Sarwar in 2008. H. B. M. Iqbal resigned as chairman on 12 January 2025. At the bank's 314th board meeting on 21 August 2025, Dr. Arifur Rahman, described as a founding vice-chairman and entrepreneur shareholder, was unanimously elected chairman. Md. Monzur Mofiz was appointed additional managing director and took charge as managing director on a current-charge basis from 14 December 2025. Publicly reported issues have included a 2005 Bangladesh Bank penalty connected with customer-identification requirements, allegations involving accounts and transactions associated with bank customers or directors, a 2014 money-laundering fine, an ATM card-cloning theft in 2016, and a 2017 move by the National Board of Revenue to freeze bank accounts in connection with alleged tax evasion. These reports concern regulatory, legal, or alleged misconduct matters and should not be treated as findings against every employee or customer. The bank has also pursued capital-raising, announcing a plan in 2022 to raise BDT 6 billion through bonds, and has reported charitable or public-interest contributions, including a BDT 40 million donation to the Ashrayan-2 project.

Premier Bank was incorporated in Bangladesh on 10 June 1999 as a private commercial bank. Its registered office is in Banani, Dhaka, placing the institution within the country's private banking sector and its principal domestic financial market. The bank's activities developed around standard commercial-banking services for retail customers, companies, and institutions, supported by branches and electronic delivery channels. The bank's early operating history included management changes and regulatory attention. Khondker Fazle Rashid was appointed managing director in October 2007, and M Shah Alam Sarwar assumed the managing-director position in February 2008. In June 2005, Bangladesh Bank fined the institution for shortcomings in Know Your Customer compliance. Separate securities and banking investigations also concerned allegations involving H. B. M. Iqbal, including claims about the use of false accounts in the stock market. A major reported controversy emerged from allegations concerning a Premier Bank customer account used for transactions relating to a Saudi-funded housing project for communities affected by Cyclone Sidr. The customer alleged that funds were diverted in collusion with bank officials and associated the claim with then vice-chairman Bazlul Haque Haroon. The Anti-Corruption Commission reported preliminary evidence of embezzlement from the account, while Premier Bank brought a case against nine officials over alleged misappropriation involving Bismillah Towels Group. In 2013, Bangladesh Bank also investigated allegations concerning the then vice-chairman. The Anti-Corruption Commission summoned Bazlul Haque Haroon in 2018 in connection with the earlier investigation. The institution faced further compliance and security-related events. In 2014, it was among eight banks fined BDT 2 million for money-laundering-related matters. In 2016, approximately BDT 4 million was reportedly stolen from Premier Bank ATMs using cloned Saudi Arabian credit cards. In November 2017, the National Board of Revenue moved to freeze Premier Bank accounts amid allegations of tax evasion. These events contributed to the bank's publicly documented record of regulatory, legal, and operational risk issues. Premier Bank progressively broadened its digital service offer. In April 2019 it launched Pmoney, a mobile-banking application with banking, bill-payment, transfer, mobile top-up, service-request, beneficiary-management, location, information, and notification functions. The bank later introduced a prepaid Mastercard for travel agents in September 2023. In August 2024 it launched Quick Account Service to simplify digital account opening, followed in October 2024 by Green PIN, which allows card activation and PIN generation through online and mobile channels. Capital formation and public-facing activities have also formed part of the bank's development. In December 2022, Premier Bank announced plans to raise BDT 6 billion through bonds. In 2013, branches sold tickets for the Bangladesh Premier League, linking the bank to a prominent national sporting event. The bank also donated BDT 40 million to the Ashrayan-2 housing and rehabilitation project. A profit figure of BDT 10.24 billion was announced in January 2023, although the supplied reference does not specify the exact reporting period or accounting basis. Leadership changed again in 2025. H. B. M. Iqbal resigned as chairman on 12 January. Dr. Arifur Rahman, identified as a founding vice-chairman and entrepreneur shareholder, was unanimously elected chairman at the 314th board meeting on 21 August. Md. Monzur Mofiz was appointed additional managing director and took charge as managing director on a current-charge basis from 14 December 2025. Premier Bank remains an active Bangladesh-focused private commercial bank with a combination of physical banking operations and expanding digital services.

• 2025

  Chairmanship transition

  [1]Premier Bank (Bangladesh)en.wikipedia.org

  H. B. M. Iqbal resigned as chairman in January, and Dr. Arifur Rahman was elected chairman in August.

• 2024

  Digital account and PIN services

  [1]Premier Bank (Bangladesh)en.wikipedia.org

  The bank introduced Quick Account Service and Green PIN.

• 2023

  Travel-agent prepaid card

  [1]Premier Bank (Bangladesh)en.wikipedia.org

  Premier Bank and Mastercard launched a prepaid card aimed at travel agents.

• 2022

  Bond-financing plan

  [1]Premier Bank (Bangladesh)en.wikipedia.org

  The bank announced plans to raise BDT 6 billion through bonds.

• 2019

  Pmoney launch

  [1]Premier Bank (Bangladesh)en.wikipedia.org

  Premier Bank launched its Pmoney mobile-banking application.

• 2013

  Customer-account investigation

  [1]Premier Bank (Bangladesh)en.wikipedia.org

  Authorities investigated allegations involving a customer account, bank officials, and a former vice-chairman.

• 2008

  New managing director

  [1]Premier Bank (Bangladesh)en.wikipedia.org

  M Shah Alam Sarwar was appointed managing director in February.

• 2007

  Managing-director appointment

  [1]Premier Bank (Bangladesh)en.wikipedia.org

  Khondker Fazle Rashid was appointed managing director in October.

• 2005

  KYC compliance penalty

  [1]Premier Bank (Bangladesh)en.wikipedia.org

  Bangladesh Bank fined the bank for failing to meet Know Your Customer requirements.

• 1999

  Incorporation

  [1]Premier Bank (Bangladesh)en.wikipedia.org

  The Premier Bank Limited was incorporated in Bangladesh on 10 June 1999.

A Bangladesh-focused private commercial bank combining branch-based banking with mobile, card, and digitally enabled account services.

• Mobile banking · 2019

  Pmoney

  Pmoney is Premier Bank's mobile-banking application, launched in 2019. Its stated functions include banking access, bill payments, fund transfers, mobile-phone top-ups, service requests, beneficiary management, bank-location tools, information links, and mail notifications. It also became a channel for the bank's Green PIN service.

• Digital account opening · 2024

  Premier Bank Quick Account Service

  Quick Account Service is a digital account-opening facility introduced in 2024. The service is intended to reduce the steps required to begin opening an account and allows prospective customers to submit an account-opening request electronically through the bank's digital service environment.

• Card service · 2024

  Premier Bank Green PIN

  Green PIN is a card-management service launched in 2024. Through the bank's website or Pmoney application, customers can activate debit, credit, and prepaid cards or generate a new card PIN, reducing reliance on branch-based or manual PIN procedures.

• Prepaid card · 2023

  Mastercard prepaid card for travel agents

  Introduced with Mastercard in 2023, this prepaid card was designed for travel agents. The announced benefits included visa-fee payments without an endorsement affecting personal travel quotas, no stated single-transaction expense limit, and zero annual fees, subject to applicable rules and product terms.

• Commercial banking

  Retail and corporate banking

  Premier Bank's core banking offer comprises conventional services for consumers, businesses, and institutions. The supplied reference identifies banking services broadly but does not provide a complete official product catalogue or detailed terms for individual deposit, lending, trade-finance, remittance, and payment products.

• 2017

  Tax-evasion allegations

  The National Board of Revenue moved to freeze Premier Bank accounts amid allegations of tax evasion.

  Source

• 2016

  ATM theft using cloned cards

  Approximately BDT 4 million was reportedly stolen from the bank's ATMs using cloned Saudi Arabian credit cards.

  Source

• 2014

  Money-laundering compliance fine

  The bank was fined BDT 2 million in a money-laundering-related regulatory matter.

  Source

• 2013

  Alleged customer-account embezzlement

  A customer alleged that funds connected with a Saudi-funded housing project were diverted from a Premier Bank account. The Anti-Corruption Commission reported preliminary evidence of embezzlement, and related investigations and litigation followed.

  Source

• 2005

  KYC compliance penalty

  Bangladesh Bank fined Premier Bank for failing to comply with Know Your Customer requirements.

  Source

Read more

• 2013Bangladesh Premier League ticket sales

  Bangladesh

  Premier Bank branches sold tickets for the Bangladesh Premier League, extending the bank's customer-facing activity into a major national sporting event.

  Outcome. The supplied material does not state attendance, commercial results, or whether the arrangement continued.

  Source
• Ashrayan-2 contribution

  Bangladesh

  Premier Bank donated BDT 40 million to the Ashrayan-2 project, a public housing and rehabilitation initiative.

  Outcome. The supplied material does not provide further details about the donation's timing or project-level outcome.

  Source

• 2025

  Leadership transitionStrategy

  Background

  The bank experienced a change in board leadership and executive management.

  Action taken

  H. B. M. Iqbal resigned as chairman; Dr. Arifur Rahman was subsequently elected chairman, while Md. Monzur Mofiz took charge as managing director on a current-charge basis.

  Aftermath

  The supplied material identifies the new leadership but does not describe subsequent strategy or performance.

  Source

• 2024

  Quick Account ServiceProduct launch

  Background

  The bank continued digitizing customer onboarding and account-opening processes.

  Action taken

  Premier Bank introduced a service intended to let customers open accounts through a simplified digital process.

  Source

• 2024

  Green PINProduct launch

  Background

  Customers needed faster self-service options for card activation and PIN management.

  Action taken

  The bank launched Green PIN through its website and Pmoney application.

  Aftermath

  Customers could activate eligible cards or generate new PINs digitally.

  Source

• 2023

  Travel-agent prepaid cardProduct launch

  Background

  Travel agents required a payment product suited to visa-fee and travel-related transactions.

  Action taken

  Premier Bank partnered with Mastercard to launch a prepaid card for travel agents.

  Aftermath

  The announced product benefits included visa-fee payment support, no annual fee, and no stated single-transaction expense ceiling.

  Source

• 2022

  Planned bond financingStrategy

  Background

  Premier Bank announced a plan to raise additional capital through debt securities.

  Action taken

  The bank announced plans to issue bonds worth BDT 6 billion.

  Planned bond issuance. BDT 6 billion planned (December 2022 announcement)

  Source

• 2019

  Launch of PmoneyProduct launch

  Background

  The bank sought to provide customers with mobile access to routine banking and payment functions.

  Action taken

  Premier Bank launched the Pmoney mobile-banking application.

  Aftermath

  Pmoney later served as a channel for additional digital services, including Green PIN.

  Source

1. 1Premier Bank (Bangladesh)en.wikipedia.org
2. 2Premier Bank official websitepremierbankltd.com