Bangladesh Bank gave digital bank licence to Nagad today

BB plans to offer more permissions for digital banks in order to pave the way for full-fledged financial services based on a 100 percent branchless banking system

To be successful, digital banks must address the needs of these untapped low-moderate-income segments by capturing the alternate sources of data

The two are: Nagad Digital Bank Plc, Kori Digital Bank Plc

Bangladesh Bank is likely to give primary approval today for the formation of digital banks in the country.

Bangladesh Bank issued comprehensive guidelines for establishing digital banks in mid-June. This important decision has generated a lot of excitement among different groups, including major banks, non-banking financial institutions (NBFIs) and innovative startups.

Nagad wants to establish a digital bank

Genex Infosys Ltd, Navana Pharmaceuticals Ltd and Aramit Ltd have decided to invest in the proposed digital bank named UPAY Digital Bank PLC.

Fifty-two applications have been filed by companies such as banks, fintec firms and mobile financial service providers to roll out digital banks, Bangladesh Bank Spokesperson Md Mezbaul Haque confirmed today.

The ride-sharing company will utilise its own fund

Prime Bank has decided to set up two subsidiaries to provide financial and asset management services.

Dutch-Bangla Bank Ltd (DBBL) is going to invest in a digital bank and form two subsidiaries in order to expand business in capital market, the bank said today.

Nearly a fifth of conventional banks in Bangladesh are preparing to establish digital banks to expand their reach to every nook and cranny of the country, win and retain tech-savvy customers without physical presence.

Entrepreneurs will get more time to prepare quality applications: BB

The company is yet to finalise the name of the bank

The Bangladesh Bank yesterday approved the guideline on digital banks, paving the way for establishing branchless banking operations, a development that is expected to accelerate cashless transactions and digital transformation.

Interested investors should have a paid-up capital of Tk 125 crore