Approval of three new banks delayed

Bangla Tribune Report
Published : 21:07, Jan 08, 2019 | Updated : 21:08, Jan 08, 2019

Commuters pass by the front of the Bangladesh central bank building in Dhaka, Bangladesh on March 8, 2016. REUTERSThe Bangladesh Bank’s green light to three more banks has been delayed as the central bank postponed its board meeting scheduled for Tuesday (Jan 8), people familiar to the matter said.
The meeting was postponed after two of the board members skipped Tuesday’s sitting.
It also delayed the announcement of the monetary policy for the second half of 2018-19 fiscal as it was one of 14 agenda for the meeting.
On Tuesday, three banks – Bengal Commercial Bank, People’s Bank and Citizen Bank were set to get the final green light if they would fulfill the conditions given by the central bank.
Jasim Uddin, the younger brother of Bengal Group Chairman Morshed Alam MP of the Awami League, is the proposed chairman of Bengal Commercial Bank. Jasim serves as the vice chairman of the business group.
Law Minister Anisul Huq’s mother Jahanara Huq’s name has been proposed for the chairmanship of the Citizen Bank.
MA Quasem, an expatriate Awami League leader living in the US is the proposed chairman of the People’s Bank.
A total of 58 government and private commercial banks and 34 non-bank financial institutions are operating currently.