Bank Asia to invest in digital bank

Bank Asia has decided to be a sponsor shareholder of a proposed digital bank by investing Tk 12.50 crore, said the private bank today.

The amount of investment is 10 per cent of the total paid-up capital of digital bank, said the lender in a disclosure on the Dhaka Stock Exchange (DSE).

Shares of Bank Asia remained unchanged at Tk 20.20 at 2.23pm today.

The Bangladesh Bank last month invited applications from entrepreneurs interested in establishing digital banks.

The BB will accept applications until August 1 this year.

On June 1, Finance Minister AHM Mustafa Kamal, in his budget speech, said a central bank committee was working to draw up strategies to broaden financial inclusion.

The BB in its guideline said investors willing to set up a digital bank will have to have a minimum paid-up capital of Tk 125 crore and the capital will have to come from sponsors.

The entity willing to set up a digital bank must be a public limited company. The minimum shareholding stake of each sponsor shall be Tk 50 lakh, it said.