Nagad Digital Bank PLC and ACI’s Kori Digital PLC have been granted digital banking licenses by the Bangladesh Bank. This decision was made during a board meeting held with Governor Abdur Rouf Talukder presiding. The central bank will now issue a Letter of Intent (LOI) to Nagad and Kori.
A total of 52 domestic and foreign entities had previously submitted applications for digital banking licenses, and eight institutions have now received approval.
Digital banks are unique in that they operate without physical branches, sub-branches, or ATM booths, and they do not facilitate in-person transactions.
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