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Bangladesh Business News
Friday, November 28, 2014 06:26:03 AM GMT +06.00
Modhumoti Bank gets final BB nod for licence
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Dhaka, Bangladesh (BBN)- The central bank of Bangladesh has given its final clearance to the proposed Modhumoti Bank Limited for issuing licence to it to start business, upon its due compliance with all the preconditions.

The clearance came at a meeting of the board of directors of Bangladesh Bank (BB) held at its headquarters in Dhaka on Wednesday with the central bank governor Atiur Rahman in the chair.

"We've given no-objection certificate (NOC) to the proposed Modhumoti Bank Limited on condition of bringing some corrections in its business plan," BB deputy governor SK Sur Chowdhury said without elaborating.

The Banking Regulation and Policy Department (BRPD) of the central bank will now issue the NOC to the proposed management of the bank after it complies with the BB requirements for facilitation of its registration with the Registrar of Joint Stock Companies and Firms (RJSCF).

Meanwhile, the central bank has issued licences to two more new commercial banks for taking preparations to start their businesses. 

The two are Meghna Bank Limited and Midland Bank Limited.

"We've issued licences to the two banks as bank companies giving them permission to appoint chief executive officers and set up their head offices," a central bank official said.

He also said the central bank was now conducting pre-branch opening inspections on three new commercial banks before issuance of operational licences for opening their branches. 

The banks are NRB Commercial Bank Limited, South Bangla Agriculture and Commerce Bank Limited and Union Bank Limited. 

"We'll issue the operational licences after receiving the inspection reports," the BB official said, adding that the BB officials were checking different policies including risk management, internal controls, staff regulations, treasury and credit for running the bank properly during the inspections.

On the other hand, the central bank is now working on the scrutiny of different documents including loan status of the sponsors of the proposed NRB Global Bank Limited.

"We'll try to place a proposal relating to the NRB Global Bank Limited at the next board of directors meeting, scheduled to be held in the next month," the central banker added.
 
BBN/SSR/AD-11Apr13-10:14 am (BST) 

 
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