Resumption of share trading of Rupali Bank and ICB Islamic Bank, formerly known as Oriental Bank, will take some more time due to procedural reasons, sources said.
The latest offers to buy Rupali Bank Limited by two of the world's richest men are delaying the resumption of the bank's share trading, an official said Sunday.
On the other hand, the share trading of ICB Islamic Bank will resume after the central bank completes the allotment of shares of the Bank among the shareholders.
Spiritual leader of the Ismailia community Prince Karim Aga Khan and the owner of the Egyptian mobile phone giant Orascom Naguib Sawaris have proposed to buy the ailing Rupali. The government had earlier failed to sell it to a Saudi buyer.
The country's stock markets early in this month in consultation with securities regulator decided to resume the trade after completion of dematerialisation of at least 50 per cent of the Rupali Bank's publicly held shares.
"This is not the perfect time to resume the trade as share prices of the Bank, if resumed, might face the same fate when the Saudi prince wanted to buy the bank," said Salahuddin Ahmed Khan, chief executive officer of the Dhaka Stock Exchange (DSE).
Frequent fluctuations in the share prices of the Rupali Bank, the top market capitalisation leader of 2006 and 2007, caused by media reports on divestment process of the bank forced the bourses to suspend trade on November 5 last year for an indefinite period.
Salahuddin said, "the trading of Rupali Bank shares would resume only when its selling process would be cleared."
On share trading resumption of ICB Islamic Bank, he said, "The central bank is yet to give clearance about allotment of shares among the shareholders."
"The bourse will decide as soon as the Bangladesh Bank will settle the issue," he added.
The trading of the Oriental Bank shares remained suspended since August, 2006 as the central bank appointed an administrator following detection of serious financial irregularities in the bank.
The media reported that Aga Khan, who owns a chain of banks, hotels and telecom in the developed world, had expressed his interest in a meeting with the Finance Adviser Mirza Azizul Islam to buy Rupali Bank.
Finance Adviser in the meeting said a final decision on the sale of the bank to Aga Khan would be taken after discussion with the top brass of the government.
Early this month the owner of the Orascom also expressed interest to buy the Rupali Bank.
Aga Khan arrived in Bangladesh on May 19 on a four-day visit, meant to mark the golden jubilee of his take over as head of the Ismailia Community.
