BB extends deadline for application for establishment of digital bank till 2 November
The Bangladesh Bank has extended its deadline for submitting applications for the establishment of digital banks till 2 November.
In a notice issued by the central bank today (15 September), it was said, applications must be submitted to the Banking Regulation and Policy Department of the Bangladesh Bank during office hours within 2 November 2025. Applicants are also required to submit all relevant documents (soft copy) to the email address: apply.db@bb.org.bd.
Earlier on 26 August, the Bangladesh Bank invited fresh applications for digital bank licences from 1 to 30 September, revising its digital bank guidelines to prevent shell companies from sponsoring proposed digital banks.
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The revised guidelines, issued on 25 August, also tighten the fit-and-proper test for sponsors, raising the paid-up capital requirement from Tk125 crore to Tk300 crore.
Besides, if an individual sponsor or the nominated representative of an institutional sponsor holds citizenship in more than one country, full details of all citizenships and related information must be provided.
Any previously renounced citizenships must also be disclosed, according to the revised guidelines.
Enterprises, companies, or individuals awaiting verdicts in any ongoing lawsuits related to loan default status will be ineligible to apply as sponsors. Banks or finance companies operating in Bangladesh are also barred from sponsoring.
Previously, in October 2023, the Bangladesh Bank granted digital banking licences to two applicants – Nagad and Kori Digital Bank – out of 52 submissions.
Nagad was backed by the same investors as Nagad Mobile Financial Services, while Kori was sponsored by ACI.
However, in August 2024, the Bangladesh Bank suspended Nagad Digital Bank's licence over allegations of corruption and dubious sponsors.
