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Application deadline for digital banking licence extended till 17 August

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The Bangladesh Bank has extended the online application deadline for digital banking licence till 17 August. 

The deadline has been extended to create complete and standardised proposals of all applicants as well as to collect all relevant documents, reads a central bank press release on Sunday (30 July).

According to a 23 June release issued by the central bank, the minimum capital requirement for a digital bank is Tk125 crore when a conventional bank requires Tk500 crore to get the licence.

A digital bank will be governed by the Banking Company Act, according to a guideline the Bangladesh Bank has finalised for placing in the next board meeting scheduled next week.

The minimum shareholding of each sponsor will be Tk50 lakh (maximum 10% or Tk12.5 crore), the guideline says.

 

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