STC is not allowed to conduct banking activities as per the Cooperative Societies Act-2001STC Bank. Officially, it is a cooperative society of small traders based in Narayanganj. But unofficially, it is running banking activities by way of its 44 branches across the country without a licence from the banking regulator, the Bangladesh Bank, and possibly duping unsuspecting people. The cooperative is not allowed to conduct banking activities as per the Cooperative Societies Act-2001. According to the ‘STC Bank’ website, its head office is located on Mowchak of Ramna in the capital.

Source: Dhaka Tribune January 07, 2021 18:56 UTC