Nagad, ACI’s Kori get BB nod for setting up digital banks

Bangladesh Bank has given initial approval to Nagad, a mobile money company, and ACI’s Kori Digital Bank to launch next-generation virtual banking services.

The central bank’s board of directors decided to send letters of intent to Nagad and Kori for the new services, bdnews24.com reported on Sunday quoting Bangladesh Bank spokesman Mezbaul Haque.

Digi10 Bank Limited, a consortium of 10 banks, bKash Digital Bank owned by BRAC Bank, and Bank Asia’s Digital Bank Limited will not require separate licences to open digital banks because they are already in the banking business, Mezbaul said.

These three organisations will be able to operate digital banks through a new guideline to be issued by the central bank, he said. They will get the final approval afterwards.