Bangladesh Bank board of directors gave its final approval to the proposed Community Bank Limited on Monday (Oct 29).
Three more banks were supposed to get approval, but their proposals were kept pending for the next Board or Directors meeting. The three banks are - Bengal Commercial Bank Limited, Peoples Bank Limited, and Citizen Bank Limited, local media reported.
The decisions were taken at a meeting of the central bank's board of directors, held at its headquarters in Dhaka, with BB Governor Fazle Kabir in the chair. After the meeting, the central bank executive and spokesperson director Sirajul Islam briefed reporters on the matter.
With the approval of Community Bank Bangladesh, the number of scheduled banks in the country stands at 59, which many stakeholders say is in excess of what the economy requires.