Written by The Banking Post
Bangladesh Bank has once again invited applications for digital banking licences, with submissions to be accepted from September 1 to 30.
The announcement was made on Monday through the central bank’s official Facebook page. Confirming the development, spokesperson Arief Hossain Khan said that even institutions that applied in the first round will need to reapply.
A senior central bank official said the key policy change this time is an increase in the minimum paid-up capital requirement to Tk 3 billion, up from Tk 1.25 billion set in the initial guidelines. In comparison, traditional banks in Bangladesh require a minimum paid-up capital of Tk 5 billion.
Bangladesh Bank first opened the door for digital banks in June 2023, approving guidelines and inviting applications. At that time, 52 proposals were submitted, of which nine were forwarded to the board after scrutiny.
In October 2023, nine institutions, including Nagad and ACI’s “Kori”, received initial approval to establish digital banks.
