Dhaka, Bangladesh (BBN) – The central bank of Bangladesh will issue letters of intent (LoIs) to nine newly-approved commercial banks by next week, asking them to comply with the requirements and existing rules and regulations before getting licences, officials said.
“The central bank will issue the LoIs to the nine approved banks in line with the decision of our board of directors at its last meeting,” a senior official of the Bangladesh Bank (BB), the country’s central bank, told BBN in Dhaka on Monday.
He also said the management of the approved banks will get a maximum period of six months to comply with the requirements and existing rules and regulations for setting up new commercial banks.
The central bank will check tax-related issues of the sponsors of the approved banks with the National Board of Revenue (NBR) before issuing licences, another BB official said, adding that loan-defaulters and tax-evaders will not be allowed to be directors of the new banks.
On Sunday, the BB approved six more private commercial banks (PCBs), aiming to improve the quality of banking services by increasing competition in the sector.
The central bank also approved three new commercial banks, sponsored by non-resident Bangladeshis (NRBs) on April 4 last, to help boost the country’s foreign exchange inflow.
BBN/SSR/AD-09Apr12-11:20 pm (BST)
