Finance Minister AMA Muhith has said China-sponsored Asia Infrastructure Investment Bank (AIIB) has rejected Bangladesh's request for membership.
He made the statement while addressing a press conference at the ministry on Wednesday afternoon about his recent visit to China.
The minister said: “The bank has rejected the membership request for the time being as we did not have the ratification of the Bangladesh parliament.
“However, we are now the observers,” he added.
Chinese President Xi Jinping launched AIIB as a rival to the US-led World Bank on Sunday.
A total of 57 nations were approved as founder members of the AIIB. US allies, UK and Germany are also among the approved founder members.
The AIIB is expected to lend between $10bn and $15bn a year for the first five or six years and will begin operations in the second quarter of 2016.
