BB plans to offer more permissions for digital banks in order to pave the way for full-fledged financial services based on a 100 percent branchless banking system
To be successful, digital banks must address the needs of these untapped low-moderate-income segments by capturing the alternate sources of data
Bangladesh Bank is likely to give primary approval today for the formation of digital banks in the country.
Bangladesh Bank issued comprehensive guidelines for establishing digital banks in mid-June. This important decision has generated a lot of excitement among different groups, including major banks, non-banking financial institutions (NBFIs) and innovative startups.
Genex Infosys Ltd, Navana Pharmaceuticals Ltd and Aramit Ltd have decided to invest in the proposed digital bank named UPAY Digital Bank PLC.
Fifty-two applications have been filed by companies such as banks, fintec firms and mobile financial service providers to roll out digital banks, Bangladesh Bank Spokesperson Md Mezbaul Haque confirmed today.