Bangladesh Bank (BB) has approved three more private commercial banks.

Bangladesh Bank (BB) has approved three more private commercial banks.

These are People’s Bank, Citizen Bank and Bengal Bank.

With the new ones, the number of banks in Bangladesh will be 62.

Bangladesh Bank’s board of directors gave the banks the final nod in a meeting chaired by Governor Fazle Kabir on Sunday night, according to Abu Farah Mohammad Naser, an executive director of the central bank.  

They will have to fulfil different conditions, including paid-up capital of Tk 5 billion, before getting licence, Naser added.