Being a third world country, Bangladesh possessed an under developed banking sector based on client care and services for a long phase. Initially, most of the banks were government owned. Eventually, with the brewing rate of industrial growth and denationalization private investments began to flow in this sector. During the mid and late 1980s there was a surge in commercial bank establishment which were owned by a board of shareholders. Private sector started to grow. As number of rural banks multiplied in that 1980 decade and more and more commercial banks were joining the market, Bangladesh’s banking sector officially turned into an industry. Since then it has gone through some quite significant challenges. With one central bank and four state owned bank and eight Islamic banks and thirty one private commercial bank there were approximately forty four banks in Bangladesh in the 1990s. There were also nine foreign commercial banks and five specialized bank along with one land develop