Bangladesh is considering an unprecedented move — creating a dedicated bank solely for government employees. The proposed institution, tentatively titled the Government Employees Bank, is being discussed by the National Pay Commission.

Headed by former Finance Secretary and PKSF Chairman Zakir Ahmed Khan, the commission was formed on July 27 and has six months to submit its report. According to Khan, the idea of forming a bank for public servants “is under discussion,” though he admits, “It’s not entirely new — the Farashuddin Commission once made a similar proposal.”

However, banking experts have expressed surprise. Agrani Bank Chairman Syed Abu Naser Bakhtiar Ahmed said, “Nowhere in the world does such a bank exist. Instead of creating new banks, the government should focus on improving existing ones.”

In 2014, the Farashuddin Commission had recommended a similar concept, proposing the Samriddhir Sopan Bank with paid-up capital of Tk 400 crore, but the plan never materialized.

Although the current Pay Commission’s mandate doesn’t include establishing a bank, discussions are ongoing. Some members argue that since there are dedicated banks for the army, police, BGB, and Ansar-VDP, a similar institution for nearly 20 lakh government employees makes sense — especially for handling salary transfers and providing low-interest loans.

Bangladesh Bank and Finance Ministry officials, however, confirm that such a precedent doesn’t exist anywhere in the world.