Process to corporatise NCBs almost finalised
Unb, Dhaka
The authorities concerned have almost finalised the process to corporatise the nationalised commercial banks (NCBs) as they agreed on the modalities at a meeting in Dhaka yesterday.Separate agreements in this regard would be signed between the government and the authorities of Sonali, Janata and Agrani banks sometime next week, a meeting source told the news agency. Finance Secretary Mohammed Tareq chaired the meeting with the managing directors of the NCBs, while senior officials of the finance ministry and the NCBs were present. As per the modalities, the NCBs would be handed over to the newly transformed banks as limited companies with the assets and liabilities as of June 30 this year. Earlier, respective bank boards gave their consent to the modalities. The government had taken the initiative to corporatise the state-run banks as part of NCBs' reform programme considering their dilapidated state, mainly for huge bad loans. In the process, state-run Rupali Bank is now waiting for being handed over to a foreign investor.
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