Thirty-seven applications were submitted to the central bank to obtain license for new banks till the deadline on Wednesday.
The Bangladesh Bank (BB) authority had posted a circular on September 27 inviting applications for new banks, after the government asked the central bank to float a public announcement inviting applications. November 30 was the last date for submitting applications.
"We have registered 32 applications," KM Abdul Wadud, general manager of B’s banking regulations and policy department (BRPD) has told.
He said the process for next course of action will begin from Thursday.
According to latest guidelines for new banks, a new bank shall have Tk 400 crore paid-up capital while a director or adviser to any banking company, other than the proposed bank, shall not be a director of the proposed bank.
The ratio of urban and rural bank branches has to be 1:1 or as per instructions to be issued by the BB from time to time. A new bank has to ensure that at least five per cent of its total lending goes into the agricultural sector, or as instructed by the central bank.
The central bank's move to invite applications for new banks stems from a latest decision of its board to effectively boost the monetary and financial sector policy, a central bank source said. Currently, 49 banks are operating in the country.
source: the independent
The Bangladesh Bank (BB) authority had posted a circular on September 27 inviting applications for new banks, after the government asked the central bank to float a public announcement inviting applications. November 30 was the last date for submitting applications.
"We have registered 32 applications," KM Abdul Wadud, general manager of B’s banking regulations and policy department (BRPD) has told.
He said the process for next course of action will begin from Thursday.
According to latest guidelines for new banks, a new bank shall have Tk 400 crore paid-up capital while a director or adviser to any banking company, other than the proposed bank, shall not be a director of the proposed bank.
The ratio of urban and rural bank branches has to be 1:1 or as per instructions to be issued by the BB from time to time. A new bank has to ensure that at least five per cent of its total lending goes into the agricultural sector, or as instructed by the central bank.
The central bank's move to invite applications for new banks stems from a latest decision of its board to effectively boost the monetary and financial sector policy, a central bank source said. Currently, 49 banks are operating in the country.
source: the independent