Three more private commercial banks get BB nod

The Bangladesh Bank has approved three more private commercial banks taking the total number of banks to 62.

Board of directors of the central bank gave the final approval in a meeting chaired by Governor Fazle Kabir on Sunday night, reports bdnews24.com.

The newly-approved banks are: People’s Bank, Citizen Bank and Bengal Bank,  said Abu Farah Mohammad Naser, an executive director of the BB. 

The new banks will have to fulfil different conditions, including paid-up capital of Tk 5 billion, before getting licence, Naser added.

Jasim Uddin, the younger brother of Bengal Group Chairman Morshed Alam MP, is the proposed chairman of the Bengal Bank.

MA Quasem, an expatriate Awami League leader living in the US, is the proposed chairman of the People’s Bank.

Law Minister Anisul Huq’s mother Jahanara Huq’s name was proposed for the chairmanship of the Citizen Bank.