(Source:BSS) Bangladesh Bank (BB) approved Five new banks to start their business.
Those banks are-
- NRB Commercial Bank of US
expatriate Bangladeshi engineer Farasat Ali,
- Union Bank of former
president and JP Chairman HM Ershad,
- South Bangla Agricultural Bank of
SM Amzad Hossain,
- NRB Bank of expatriate Bangladeshi in UK Iqbal Ahmed
and
- Meghna Bank of parliament member HN Ashikur Rahman.
With these new
banks, the number of banks in the country has now stood at 52 including
public, private and foreign banks. The board put on hold the approval of another bank,
Midland Bank of M
Moniruzzaman, to review its business plan further,
On September 27, 2011, the central bank invited applications from
people interested in setting up new commercial banks and received 37
applications. On April 17, 2012 the central bank issued letter of intent
(LoI) to nine proposed banks, of which five got final approval.
Like the existing banks, the paid-up capital of the new banks would be taka 400 crore each.
Other Three banks did not get approval. Those are-
- Modhumoti Bank,
- Farmers
Bank and
- NRB bank.
Among the three banks, the sponsors of the
Farmers Bank and NRB bank could not fulfill the necessary capital
requirement within the stipulated time-frame. Modhumoti Bank met the
capital requirement, but has not given its business plan to BB yet.