Bangladesh Bank on Wednesday gave final approval to the proposed
Modhumati Bank for getting its licence.
‘The BB gave the approval at its board meeting after hearing the business plans presented by the proposed bank,’ a BB official who attended the meeting told New Age.
Prime minister Sheikh Hasina’s nephew Fazle Noor Taposh is the key sponsor of the bank while its chairman and managing director are Humayun Kabir and Mizanur Rahman respectively.
With the approval of Modhumati, BB till Wednesday gave final nod to a total of eight banks, out of nine banks selected on political consideration.
Modhumati and another proposed bank — NRB Global Bank– failed to submit the applications and bank drafts worth Tk 400 crore as paid-up capitals to the BB in time.
Seven other proposed banks submitted the documents within October 16, 2012.
The BB board set new deadline of December 31, 2012 for Modhumati Bank and March 31, 2013 for NRB Global Bank.
The two proposed banks submitted the applications and paid-up capitals within changed deadlines.
Modhumati Bank has to go to the Registrar of Joint Stock Companies and Firms for taking approval to form banking companies after which the BB will provide final licence to the bank.
NRB Global Bank will get approval from the central bank as early as possible as the BB is now conducting scrutiny into the bank’s documents.
Four out of seven banks that got final approval earlier have already been enlisted as scheduled banks by the central bank.
The banks are South Bangla Agriculture and Commerce Bank, NRB Commercial Bank, Union Bank and Meghna Bank.
The central bank in April 2012 issued letters of intent to the sponsors of nine proposed banks, including three banks to be set up by non-resident Bangladeshis.
The sponsors of the proposed banks are either from ruling party-led alliance or businessmen backed by the ruling party.
-With New Age input
