Bangladesh Bank has officially opened the process for applications seeking permission to launch the nation’s inaugural digital-only banking institutions, marking a significant step forward for its financial services landscape.
The regulatory body announced that submissions will be accepted starting September 1, 2025, through September 30, 2025.
A circular issued by General Manager of the Banking Regulation and Policy Department (BRPD) Md Bayezid Sarkar stated that the authorisation of these digital financial institutions aligns with worldwide transformations in the tech-oriented finance industry.
This move is intended to broaden the availability and improve the effectiveness of monetary services, with a specific focus on smaller businesses and cottage industries.
Bangladesh Bank asserts that digital financial operations will capitalise on the possibilities presented by the ‘Fourth Industrial Revolution’, fostering lasting economic development and job creation.
It also considers these digital institutions an essential mechanism for streamlining access to financing, particularly for underserved populations.
Those wishing to apply are required to include a non-refundable payment ofTk500,000 through a bank draft or pay order made out to Bangladesh Bank.
Submission of proposals and all necessary paperwork is permitted both physically and through electronic mail. Comprehensive guidelines can be found on the central bank’s official website.
Licenses for these digital financial entities will be granted pursuant to the 1991 Bank Company Act, with transaction services falling under the 2014 Bangladesh Payment and Settlement System Regulations.
As per the established guidelines, a digital bank will maintain a central office but will operate without physical branch networks, automated teller machines, or cash deposit and recycling machines.
All financial operations will be conducted through applications on mobile phones or similar electronic devices, indicating that in-person transactional services will not be provided.
The framework for digital banking was initially formulated on June 14, 2023. The original policy set the minimum capital requirement at Tk125 crore, a figure that has subsequently been raised to Tk300 crore.