Bangladesh banking sector started with six nationalized entities. To ensure social justice and equity. the general nationalization program was also applied to the banking industry. The banks were restructured into six nationalized banks: Sonali, Agrani, Janata, Rupali, Pubali and Uttara Bank under Bangladesh Bank Nationalization Order 1972. After that, so ensure adequate credit facilities to the industry and agriculture sector, the then government set up three specialized institutions 'Bangladesh Shilpo Bank', 'Bangladesh Shilpo Rin Songstha' and Bangladesh Krishi Bank, Foreign banks, functioning at that time were also allowed to operate.