Finance Minister Abul Maal Abdul Muhith said the government will issue licenses for new private commercial banks by April.

“The new banks would have to start their operations within six months after getting licenses,” he told reporters after a meeting with the visiting Asian Development Bank Vice-President Xiaoyu Zhao at his secretariat office yesterday.

Muhith said the number of licenses to be issued would be finalized by the board of Bangladesh Bank.

Asked whether there was any pressure to issue licenses in favour of three expatriate (NRB) welfare banks, he said, “There might be some pressure.”

The central bank received 37 applications on the circular it issued in September last year asking for proposal to set up new banks.

The Daily Sun/Bangladesh/ 16th March 2012