A whopping 52 companies, both domestic and foreign, have submitted applications for licensed digital banking establishments. The following entities are part of this list: commercial banks, mobile financial services (MFS), ride-sharing platforms, food delivery companies, IT service providers, pharmaceutical companies, and both domestic and multinational corporations.
A few companies have applied for individual licenses, while others have chosen to apply jointly.
As many as 52 companies have applied for the digital banking license since the web portal opened, which has exceeded our expectations. As a result, we will now proceed to thoroughly verify all the applications, according to Bangladesh Bank Executive Director and Spokesperson, Md Mezbaul Haque on Sunday, 20 August.
As per the new policy, the central bank board will issue a Letter of Intent (LOI) to eligible applicants who have fulfilled the necessary requirements for obtaining the license.
Digital Bank will revolutionize the banking industry by completely eliminating the need for any physical branches, sub-branches, or ATM booths. Banking services will be exclusively available through mobile and digital devices, with no more in-person transactions.