 | BB publishes draft guidelines to set up new banks
06 September, 2011
The central bank has published draft guidelines to establish new banks imposing a restriction to keep the number of directors in their board within 13, officials said.
Under the draft guidelines, the paid-up capital of a new commercial bank will have to be Tk 4.0 billion as required under Bank Company Act 1991. The share capital will be formed with ordinary shares only.
Any interested individual can submit his/her opinions to the general manager of Banking Regulation and Policy Department (BRPD) of the central bank through e-mail or by normal post as early as possible, the BB officials said.
"We'll submit the draft guidelines incorporating the public opinions to the next meeting of our Board of Directors for approval," a BB executive director told the FE Monday.
He also said the next Board meeting is scheduled to be held on September 14.
"The Board may take a final decision on setting up new private commercial banks (PCBs) in the next meeting," another BB official said.
The central banker also said the BB will publish an advertisement for inviting fresh applications from interested entrepreneurs to establish new banks, if the Board gives its approval for allowing new PCBs to operate.
On August 24 last, the Board kept in abeyance a proposal to issue lincences for new PCBs.
Release link:http://www.thefinancialexpress-bd.com/more.php?news_id=148574&date=2011-09-06
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