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As deadline for filing applications to provide licences for digital banks, 52 applications were filed by companies such as banks, fintec firms and mobile financial service providers, said Bangladesh Bank spokesperson Md Mezbaul Haque on Sunday.
The deadline for filing the applications ended on August 17.
Any entity willing to set up a digital bank must be a public limited company.
Earlier, the BB said the sponsors or directors must qualify for the Fit and Proper Test (FPT) criteria applicable to the proposed directors of digital banks.
In its guideline issued earlier, BB said digital banks will not be allowed to provide any service to clients directly through physical counters and cannot issue any physical instruments.
Likewise, digital banks would not be permitted to give out loans to carry out foreign trade and term loans to medium and large industries.
The Bangladesh Bank invited applications for the digital bank from entrepreneurs on June 21 this year.
According to the BB, the initial minimum paid-up capital required for establishing a digital bank is Tk125 crore, to be provided by the sponsors.
Each sponsor must hold a minimum shareholding stake of Tk50 lakh.
Sponsors’ contributions to the share capital of the proposed digital bank must come from their net worth declared to the tax authorities; any contributions from borrowings or sources other than net worth, including family members, will not be acceptable.
Additionally, a non-refundable application processing fee of Tk5 lakh should be paid.
