Written by The Banking Post
The Bangladesh Bank has extended the deadline for submitting applications to set up digital banks until 2 November 2025, giving potential sponsors more time to comply with stricter licensing rules.
In a notice issued on Sunday (15 September), the central bank said applications must be filed with its Banking Regulation and Policy Department during office hours by 2 November, with all supporting documents also emailed to apply.db@bb.org.bd.
The extension follows revised digital banking guidelines issued on 25 August aimed at curbing shell companies and ensuring stronger sponsors. The new rules raise the minimum paid-up capital to Tk 300 crore from Tk 125 crore and impose a tighter “fit-and-proper” test for applicants.
Sponsors must disclose full details of all citizenships — including any previously renounced — and individuals or entities facing lawsuits over loan default status will be ineligible. Banks and finance companies operating in Bangladesh are also barred from sponsoring digital banks.
The regulator initially opened the fresh application window from 1 to 30 September but has now given an extra month to prospective bidders.
Bangladesh issued its first digital banking licences in October 2023 to Nagad and Kori Digital Bank out of 52 applicants. However, Nagad’s licence was suspended in August 2024 following allegations of corruption and questionable sponsors.
