Dhaka, Bangladesh (BBN)- The central bank of Bangladesh has issued licences as bank companies to three new commercial banks for taking preparations to start their businesses, officials said on Thursday.
The banks are NRB Commercial Bank Limited, South Bangla Agriculture and Commerce Bank Limited and Union Bank Limited.
“The central bank has given permission to three proposed banks for establishing their head offices and appointing managing directors,” a senior official of the Bangladesh Bank (BB) told BBN in Dhaka.
He also said the BB has issued the licences after these banks were incorporated as companies with the Registrar of Joint Stock Companies and Firms (RJSCF).
“The banks will have to apply again to the BB for seeking operational or branch licence for running their businesses formally,” the central banker said, adding that the BB will conduct an inspection before issuing the operational licences.
He also said the banks are now allowed to develop different policies including risk management, internal control, staff regulations, treasury and credit for running the bank properly.
Earlier on February 5 last, the central bank gave the final clearance for issuance of licences to five new banks to start business upon their due compliance with all the pre-conditions.
The banks are NRB Commercial Bank Limited, Union Bank Limited, South Bangla Agriculture and Commerce Bank Limited, Meghna Bank Limited and the NRB Bank Limited.
Meanwhile, the BB has issued no-objection certificates (NOCs) to two more proposed banks – Farmers Bank Limited and the Midland Bank Limited –for starting their businesses.
The BB is also scrutinizing different documents including tax files of the sponsors of Modhumoti Bank Limited, another BB official said. “The Banking Regulation and Policy Department of BB is now working to place a proposal about the Modhumoti Bank at the next board of directors meeting.”
Earlier, eight proposed banks applied to the BB for licences to start their businesses upon compliance with the requirements as per the terms and conditions of the letter of intent (LoI).
Another proposed bank-NRB Global Bank Limited-has been allowed to complete its formalities, as required by the LoI, by March 31, 2013.
BBN/SSR/AD-14Mar13-9:50 pm (BST)