The Bangladesh Bank building at Motijheel Mehedi Hasan/ Dhaka TribuneBengal, People’s, Citizen each to meet Tk500cr paid-up capital requirement in six monthsBangladesh Bank on Sunday approved three new commercial banks, bringing the number of scheduled banks in the country at 62. The banks are Bengal Commercial Bank, People's Bank and Citizen Bank. “ The board meeting has decided to issue LoI to three banks after scrutinizing all required documents of the proposed banks,” Bangladesh Bank Executive Director Abu Farah Md Naser told reporters after the meeting. On October 29, last year the central bank approved Community Bank Bangladesh and had also sent back proposals for three proposed banks due to lack of adequate documents to be for licenses. Bangladesh Police Welfare Trust owns the Community Bank Bangladesh.

Source: Dhaka Tribune February 17, 2019 17:48 UTC