Bangladesh Bank calls for applications for setting up digital banks
The central bank has asked for applications from those interested in establishing a digital banks.
Applications will be taken online, reads a circular on the website of Bangladesh Bank published on Thursday.
There is a separate option on the Bangladesh Bank website to submit the application online. Those interested can go there and submit the application. A non-refundable deposit of Tk5 lakh has to be submitted to Bangladesh Bank as application fee.
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The central bank says that the application for digital bank should be done digitally, not by submitting documents in the traditional way. That is, all the necessary documents must be submitted digitally.
Previously on 14 June, the board of the Bangladesh Bank has approved the Digital Bank guideline keeping provision for paid-up capital at Tk125 crore.
The licence of the Digital Bank will be given under the Banking Company Act 1991. The payment service will be operated under the Bangladesh Payment and Settlement System Regulations, 2014, according to the approved guideline.
