Dhaka, Bangladesh (BBN)– Proposed Modhumoti Bank Limited has applied to the central bank for licence to start their business after complying with the requirements as per the letter of intent (LoI), officials said.
“The central bank has received documents from the bank Sunday, a day before the deadline,” a senior official of the Bangladesh Bank (BB) told BBN in Dhaka, adding that the central bank board has allowed the bank to submit documents as per requirements of the letter of intent (LoI) by December 31.
He also said another proposed bank, NRB Global Bank Limited, has been allowed to meet the requirements of the LoI within March 31, 2013.
A total of eight proposed banks have, so far, applied to the BB for licences to start their business after complying with the requirements as per the LoI, according to the BB officials.
Seven proposed banks, which earlier submitted documents to the BB, are Union Bank Limited, Farmers Bank Limited, Meghna Bank Limited, Midland Bank Limited, South Bangla Agriculture and Commerce Bank Limited, NRB Commercial Bank Limited and NRB Bank Limited.
On April 8 last, the central bank approved six private commercial banks (PCBs) to strengthen financial inclusion process through bringing un-banked people under banking network.
The BB earlier approved three new commercial banks, sponsored by NRBs, to help boost the country’s foreign exchange inflow.
BBN/SSR/AD-30DEc12-10:23 pm (BST)
