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The name of the bank is Citizen Bank Limited. At the time of the request, Jahanara Haque, the mother of Justice Minister Anisul Haque, was appointed president of the bank.
However, Jahanara Haque died on April 18. Subsequently, someone else’s name was proposed and sent to the Bank of Bangladesh. However, the name was not known.
It is said that Anisul Haque is behind the bank because a minister cannot be a business director of a bank due to legal obligations.
Former deputy central bank governor Khandaker Ibrahim Khaled has questioned the justification for approving a new bank amid the banking sector crisis.
Citizen Bank was able to initiate banking activities in Bangladesh at a meeting of its board of directors on Monday night.
After the meeting, Sirajul Islam, Bangladesh Bank CEO and spokesperson, told bdnews24.com:
“Now a letter from the central bank will be officially sent to the authorities of Banco Ciudadano to start banking activities in the country. The bank will be able to start operations complying with all the given conditions ”.
3 more bank approvals
Bengal Bank obtained final approval
Therefore, the total number of banks in Bangladesh stood at 61. Of these, nine are state-owned banks. There are 42 private banks. And nine foreign banks.
Bangladesh Bank gave preliminary approval to Bengal Bank, People’s Bank and Citizen Bank on February 17 last year. The entrepreneurs of the three banks are involved in the ruling Awami League.
Bengal Bank’s entrepreneur is Bengal Group of Industries. The Awami League deputy Morshed Alam is the president of the group and the president of the bank is his younger brother Jasim Uddin, vice president of the Bengal Group.
The bank has already started operations.
MA Kashem, an expatriate leader of the Awami League of the United States, has been appointed President-Proposed of Banco Popular.
But the bank did not meet the required conditions and was not approved at Monday’s board meeting, Sirajul Islam said.
The Awami League government has approved 18 banks in three consecutive terms. Furthermore, Prabasi Kalyan Bank, which was formed under a special law, was approved as a scheduled bank last year.
Towards the end of the last government, applications from four commercial banks, including these three, were submitted to the central bank.
At that time, the Community Bank established at the initiative of the Bangladesh Police Welfare Trust (BPWT) only got approval.
The government advocates for more banks to expand the Bangladesh economy.
However, former Lieutenant Governor Ibrahim Khaled is highly critical of the approval of another new bank at this point in the epidemic.
He told bdnews24.com: “We have repeatedly said that there is no need for any other bank in this economy like Bangladesh. It is still licensed. I don’t understand why it is happening, what the central bank is doing.”
He said: “The existing banks are not working properly. The state of some banks is very bad. More banks in this situation. Our country is surprised ”.
The banker thinks that it is difficult for the new bank to survive in the current situation.
“The private banks don’t want to go to the villages. Everyone wants to open a branch in the city and do business. Where will the new banks do business? What business will you do? How will it survive?
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