How the first branch of a Bangladeshi bank opened its doors on foreign soil

Weaponed with just the official pads and the seal of an East Pakistan bank, Anwarul Amin roamed from Dhaka to Karachi to Germany and then London amidst the political unrest and the 1971 Liberation War. He had no idea whether the region named East Pakistan will be liberated or not, whether he will ever be able to get back to his birthland Bangladesh or not. 

But somewhere in the depths of his mind, the hope remained. And with that hope, courage, and extraordinary presence of mind, Anwarul Amin became the first Bangladeshi to open a branch of a Bangladeshi bank abroad.   

The book titled Bideshe Prothom Bangladeshi Banker Shakha Kholar Nepottho Kahini (The background story of opening the first branch of a Bangladeshi bank abroad) authored by Anwarul Amin and published by Ramon Publishers in 2021, tells us the story. 

In this memoir, the renowned veteran banker depicts the historical chronicles of opening the first branch of a Bangladeshi bank, Eastern Banking Corporation (presently known as Uttara Bank) in London in March 1972 amid the political crunches in the global geopolitical climate regarding Pakistan and the new nation Bangladesh.

Eastern Banking Corporation was established in 1965 with the head office located at Motijheel in Dhaka. After the Liberation War, the bank was nationalised under Bangladesh Banks (Nationalisation) Order 1972 and renamed Uttara Bank.

On 15 September 1983, Uttara Bank became a private limited bank. It is listed on Chittagong Stock Exchange and Dhaka Stock Exchange.

Anwarul Amin's entrance into the banking sector

Born in 1934 in Dhaka, Anwarul Amin was the second-eldest son of Nurul Amin, the chief minister of East Pakistan in 1948. Amin graduated from the Westminster Bank Institute of Banking in England in 1955. After his graduation,  21-year-old Amin returned to East Pakistan to start his banking career with the Muslim Commercial Bank, a bank founded by the Adamjee Group based in West Pakistan. 
Although later he worked at the National Bank of Pakistan (NBP) and the Industrial Development Bank of Pakistan (IDBP), according to the writer, he has always wanted to work in a Bangladeshi bank. So when Eastern Banking Corporation (EBC) was established in 1965, Amin was elated to join as the deputy chief manager of the newly-established bank.  
In the next two years, the bank expanded its activities across East Pakistan with 60 branches and in 1967 Anwarul Amin opened branches in West Pakistan as well.

How the first branch was opened in London

On 16 December 1971, when the Pakistani military surrendered to Bangladesh, Amin was in West Germany along with his family. Amin writes in his book that although this was an incident for celebration, he was concerned about one thing – Pakistan will not give us the money from our two Bangladeshi banks (Eastern Markentile bank and EBC), the money that was deposited in international banks. 

So he took out the official writing pads and seal that he brought with him while leaving East Pakistan with the permission of his managing director Hamidullah, and wrote official letters to the Swiss banks and the NatWest bank of London where the money was deposited.

In the ongoing uncertain political situation in Pakistan, Amin requested the banks to refrain from any kind of engagement with regional offices in Pakistan without authenticated instructions from Dhaka (Dacca) head office. He also requested that no amount should be withdrawn, surrendered, or transferred without authentication from the Dacca office. 

But the banks replied that they already had received letters from West Pakistan branches. This resulted in Amin contacting a lawyer in London to get legal suggestions, meeting the Swiss banks in January and at the same time opening an account in the London branch of the state bank of India (as India has already recognised Bangladesh as an independent nation).  

With time, as Amin could take out the deposits from these foreign banks, he started to deposit the money in the SIB account until the branch opened. And on the other hand, with the help of his friend, Amin slowly started the paperwork for opening the first branch of EBC in London. 

Initially in 1972, when the work was underway to open the first branch of Bangladeshi bank overseas, Amin set up a temporary office in his friend's work premises in London. Amin writes in his book, "In the meantime, I requested every Banglaee family in Bricklane so that they send money to their families in Bangladesh from my temporary office." That's how the bank was getting popular among the Bangalee community in London. 

Till then, the British government had yet not recognised Bangladesh as an independent nation. So it was not yet possible to open a Bangladeshi bank in London. But that didn't stop Amin from collecting information on the policies pertaining to the matter. And at the same time, he was building his relations with local journalists and writers as well as the bankers of London. 

So when England gave Bangladesh its due recognition, Amin was already prepared to open the branch office. And on 30 March 1972, Amin opened the first international branch of EBC at 64 Queen Street, London.  In the next few months, Amin and his team opened two more branches in Manchester and Birmingham.  

As an independent nation, Bangladesh needed to mark its influence in the world of international banking and finance. And at that crucial time, Anwarul Amin took up the task of opening the first branch of a Bangladeshi bank in the global financial capital, London.
From a historical perspective, the book is an important document that records the pivotal role played by Amin and other Bangalee bankers in the banking and finance industry during the struggle for independence in 1971 and what followed.
At the very forward of the book the writer makes it clear that it's a memoir, a single person's recollection of events, written from personal memories and depictions. So as a reader the very first question that came to my mind is –  should I call it a historical book? 

Surprisingly, with more than 20 black and white photographs, documents, and letters, this 72-page short memoir gives a detailed picture of setting up a bank in London, and as you graze through the simple structured language of the book, you don't feel like anything is missing. 

Amin continued with his banking career after that. Before breathing his last in November 2022, this veteran banker was performing his duties as the chairman of the board of trustees of Impact Foundation Bangladesh. 

The book is available at Baatighar, Aziz Supermarket (Porua), Ramon Publishers, 26 Banglabazar.