Staff reporter :
Twelve domestic and foreign entities have applied to the Bangladesh Bank for licences to operate digital banks, according to a central bank document.
The submission deadline closed on 2 November, and the applications were confirmed by Bangladesh Bank Executive Director Arif Hossain Khan on 3 November.
The applicants include mobile financial service provider bKash, mobile operators Banglalink and Robi, microfinance institutions, and Akij.
The proposed digital banks are: British Bangla Digital Bank PLC, Digital Banking of Bhutan, Amar Digital Bank, 36 Digital Bank PLC, Boost, AMAR Bank, App Bank, Nova Digital Bank, Moitri Digital Bank PLC, Upokari Digital Bank, Munafa Islami Digital Bank, and bKash Digital Bank.
The central bank had invited fresh applications on 26 August after revising digital bank guidelines to prevent shell companies from sponsoring new banks.
The updated rules impose stricter fit-and-proper requirements for sponsors, including higher paid-up capital and full disclosure of citizenship. Banks or companies involved in ongoing loan default cases are barred from applying.
In a previous round in October 2023, Bangladesh Bank granted licences to two applicants Nagad and Kori Digital Bank out of 52 submissions. However, Nagad’s licence was later suspended amid allegations of irregularities and questionable sponsorship.
