Bangladesh Bank Issued License to Citizen Bank

Bangladesh Bank gave the final approval to Citizen Bank as the sponsor directors fulfilled the regulatory requirements. By this approval, the total number of scheduled banks stands 61. However, senior bankers and economists questioned the rationality of approving new banks even in this amid pandemic. 

Ibrahim Khaled said "We have repeatedly said that there is no need for any new banks in a country with an economy like Bangladesh. Still, they are being given the license. I don't understand what the central bank is doing. The existing banks are not functioning properly. Some banks are in a very bad state. Bringing more banks into the fold in this situation is bewildering."

The proposed Citizens Bank initially named Jahanara Huq, mother of law minister Anisul Huq, as its chairperson. As she died bank named Anisul Huq as its chairman and BB approved it.

Post a Comment