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Dhaka Tribune

Nagad, ACI's Kori get digital banking licence

  • Decision comes at Bangladesh Bank board meeting

  • Central bank will issue them letters of intent
Update : 22 Oct 2023, 08:31 PM

Bangladesh Bank has decided to approve the proposal of setting up eight digital banks, including Nagad and ACI's Kori Digital PLC.

The decision came at a board meeting held at the central bank headquarters in Dhaka on Sunday, reports BSS.

Bangladesh Bank Governor Abdur Rouf Talukder presided over the meeting.

After the meeting, bank spokesperson Mezbaul Haque said the central bank would issue letters of intent (LOI) to Nagad Digital Bank PLC and Kori Digital PLC of ACI for setting up digital banks.

Besides, three other applicants, each with support from different traditional banks, had been granted permission to establish digital banking platforms, he added.

Furthermore, three fintech firms would receive licences after a six-month monitoring period to assess the performance of the first two digital banks, he said.

Earlier, a total of 52 domestic and foreign entities filed applications for licences to set up digital banks when the central bank initially intended to extend permits only for two or three banks.

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