Two digital banks given go-ahead

Bangladesh Bank has primarily given go-ahead to the country's first two digital banks: Nagad Digital Bank Plc and Kori Digital Bank Plc.

In a board meeting today, the banking regulator took the decision of issuing letters of intent (LoI) to the two digital banks.

The board also decided to allow bKash of Brac Bank, Digit All of Bank Asia and Digi10 of 10 commercial banks to open digital banking windows after preparing necessary guideline for the window.

These three digital banking windows will be approved as they already have banking licences.

The banking watchdog will also review the performance of Nagad Digital Bank Plc and Kori Digital Bank Plc and then issue LoIs to Smart Digital Bank, Japan Bangla Digital and North East Digital Bank.

Three committees of the central bank assessed 52 applications for opening digital banks, BB Executive Director and Spokesperson Md Mezbaul Haque told journalist after the meeting presided over by Bangladesh Bank Governor Abdur Rouf Talukder.

The committee shortlisted the names of nine proposed digital banks and placed the list in the central bank's board meeting.

Of the nine, the Bangladesh Bank board did not take into consideration a digital banking proposal, as it was submitted by an insurance company.