DHAKA: Bangladesh Bank gave its initial nod to two new banks—Bengal Commercial Bank and Citizen Bank—for the beginning of their operations.

“BB gave its initial consent ‘Letter of Intent’ to the two new banks. But, they need to get final nod from the central bank to go for formal operation,” said BB Executive Director and spokesman Sirajul Islam. 

Central Bank source said Bengal Group Chairman Jasim Uddin is the founder of Bengal Commercial Bank while Jahanara Huq, mother of Law Minister Anisul Huq, is the founder of Citizen Bank and M A Kashem, a New York expatriate and hails from Sandwip upazila of Chattogram, is the founder of the People’s Islami Bank Limited.

People’s Islami Bank Limited did not get BB’s initial nod because of shortage of some required documents. Once we get the documents, the central bank will issue the ‘Letter of Intent’ to the bank, Sirajul Islam added. 

After assuming power in 2009, a total of 14 banks, including BGB and Bangladesh Police Banks, have been approved so far. Once the newly approved banks started operation, the number of scheduled banks would go up to 62.

BDST: 1748 HRS, MAR 10, 2019
RS/SMS