Bangladesh Bank has received 37 applications for permission to set up new banks.
On the list of the applicants are many influential lawmakers, politicians and businessmen having strong links with the ruling alliance. Under pressure from government high-ups, the board of the central bank in September decided to give its approval for new banks, provided the applicants fulfil some stringent conditions.
Yesterday was the closing day for submitting applications. The aspirants had to deposit Tk 10 lakh as non-refundable fees with their applications.
It has been almost a decade since the last time BB gave approval for setting up banks.
The conditions set up by the central bank board include requirement of an initial capital of Tk 400 crore that has to be deposited from the money shown in the applicant’s income tax return.
Many had tried to get the conditions relaxed but the BB board rejected the appeal in October.
At present, the number of local and foreign banks in the country is 47, the highest in the sub-continent.
Of the applicants, Mohiuddin Khan Alamgir, Awami League presidium member and chairman of the parliamentary standing committee on public accounts, proposed to set up Farmers’ Bank Ltd.
Another application was submitted for Modhumati Bank Ltd and its proposed chairman is Humayun Kabir. Awami League lawmaker Sheikh Fazle Noor Taposh is involved with this initiative.
The other proposed banks are City Financial Bank (proposed chairman Mohammad Hasan), Bank of Trade and Investment Ltd (Momtazul Haque), Union Bank (Shahidul Alam), Greenland Bank (Morshed Alam), The People’s Bank ( Mirza Azam), Destiny Bank (Harun-Ar-Rashid), Southern Bank (Majedul Haq), Prime Asia Bank (Sreemant Kumar Saha), Western Bank (Golam Mostafa Kamal), Midland Bank (Moniruzzaman Khan Khandker), Far East Islami Bank (Fazlul Haque), Millennium Islami Bank (Ziaul Hasan), TMSS Khudra Punji Bank (Hosne Ara), Bank of Credit, Commerce and Industry Ltd (Almas Uddin Ahmed), Citizens’ Bank (Ariful Haq), Al Hera Bank (Mahmudul Haque Kutub), Self Employment Bank (Mahbuba Kabir), Chartered Bank (Enamul Haque Chowdhury), Meghna Bank (HM Ashikur Rahman), Bengal Bank (Khondker Mohiuddin), Katak Bangla Bank (Abdul Matlub Ahmed), Rural Investment Bank (Mujibur Rahman), People’s Islami Bank (Abul Kashem), Federal Bank (MA Hashem), South Bangla Agriculture and Commerce Bank (SM Amjad Hossain), People’s Bank Ltd (Khandker Asaduzzaman), Infrastructure Development Bank (Motiul Islam), Federal Bank (Shahriar Alam), Modern Islami Bank (advocate Sheikh Abdullah), Global Bank (Kutubuddin), Western Bank (Ayesha Hasan), Universal Bank (Ruma Parveen), Metro Bank (Solaiman Rubel), Gulf Bangla Bank (Syed Ahmed Faruque) and Korea-Bangla Bank (Engineer Enamul Haque).
-With The Daily Star input
