Company Information

Get to know The Dhaka Mercantile Co-operative Bank Limited(DMCB)

Established in 1972, The Dhaka Mercantile Co-operative Bank Limited (DMCB) operates as a cooperative society under the Cooperative Society Act of Bangladesh. Its stated mission is to foster savings among its members and provide them with credit to improve their socio-economic condition. However, it is not a licensed or scheduled bank under the country's Bank Company Act. Despite this, it has grown to have numerous branches and thousands of members, offering various deposit schemes and loan products. The organization has faced significant legal and regulatory challenges regarding its use of the word "Bank" and allegations of major financial misconduct.

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The Dhaka Mercantile Co-operative Bank Limited(DMCB)

Bangladesh

Founded in

1973 (53 Years)

Founded

Last online: No recent activity

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Regulated

Recommended

IUX

(2,283 reviews)

Mauritius

2015

(10 years)

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This company is currently Unproved.

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License

A Grade License

Issued by globally renowned regulators, these licenses ensure the highest trader protection through strict compliance, fund segregation, insurance, and regular audits. Dispute resolution and adherence to AML/CTF standards further enhance security.

B Grade License

Granted by respected regional regulators, these licenses offer robust safety measures such as fund segregation, financial reporting, and compensation schemes. Though slightly less strict than Tier 1, they provide dependable regional protection.

C Grade License

Issued by regulators in emerging markets, these licenses offer basic protections such as minimum capital requirements and AML policies. Oversight is less stringent, so traders should exercise caution and verify safety measures.

D Grade License

From jurisdictions with minimal oversight, these licenses often lack key protections like fund segregation and insurance. While attractive for operational flexibility, they pose higher risks to traders.

TrustFinance is not a licensed financial advisor and is not affiliated with any financial institutions in your region. We encourage you to do your own research before making any investment decisions.