Dhaka, Bangladesh (BBN) – Around half a dozen new private commercial banks (PCBs) may get approval at Wednesday’s board of directors’ meeting of the Bangladesh Bank (BB), the country’s central bank. 
Sources, however, did not mention the names of the scheduled banks that are likely to be approved. They hinted that the number of the PCBs will be between six and eight.
“The number of the new PCBs is likely to be six, if the board allows only one NRB bank out of three,” a source said, adding that the board earlier decided to give approval of one NRB bank.
The names of 19 proposed commercial banks, including three non-resident Bangladeshi (NRB) banks, will be placed at the board meeting for final approval.
Names of the three proposed NRB banks were placed before the board on March 15 for approval, but no final decision was taken at that meeting.
“The new PCBs will get at least six months for taking preparation to start their operations,” a BB senior official said, adding that the central bank will issue letters of intent to the banks after getting final approval by the board.
Earlier, 37 applications were submitted to the central bank for setting up new PCBs. Of them, 21 were rejected by a preliminary committee due mainly to lack of necessary papers and documents.
Currently, a total of 47 commercial banks are in operation in Bangladesh.
 
BBN/SSR/AD-04Apr12-11:20 am (BST)