Sonali Bank registered with Registrar of Joint Stock Companies
Star Business Report
Sonali Bank, a nationalised commercial bank, yesterday was registered with the Registrar of Joint Stock Companies and Firms (RJSCF) to operate as a public limited company.However, the bank still requires approval from the central bank to run as a public limited company, sources said. The bank along with Agrani Bank and Janata Bank recently applied for registration with the RJSCF and Securities and Exchange Commission (SEC). Sonali Bank officials said they will apply to the central bank today for approval to run as a public limited company. After receiving approval from Bangladesh Bank, the bank's name will be changed to Sonali Bank Limited. Earlier on May 30, state-run Janata and Agrani banks received licenses from the central bank to become public limited companies. As per the license, the banks will conduct their activities following the Memorandum and Article of Association instead of the Nationalised Bank Order, 1972. The World Bank and International Monetary Fund have long been calling for privatisation of nationalised commercial banks. They have made it one of the major prerequisites for Bangladesh to receive Poverty Reduction Growth Facility loans.
| 
