Sonali seeks licence to operate as PLC
Tuesday, 5 June 2007
State-owned Sonali Bank submitted Monday an application to the Bangladesh Bank (BB) seeking a licence to operate as a public limited company (PLC).
The central bank will scrutinise all documents of Sonali Bank before issuance of the licence, official sources said.
"We will issue the licence to the Sonali Bank after completion of the scrutiny," a BB senior official told the FE Monday, adding that the central bank might issue the licence in a day or two.
Sunday last, the Registrar of Joint Stock Companies & Firms issued registration letter to the Sonali Bank giving an approval for starting operation as a PLC.
The central bank has already issued licences to two nationalised commercial banks (NCBs) - Agrani and Janata -- allowing them to operate as public limited companies.
The finance ministry earlier ordered the three NCBs to apply to the Registrar of Joint Stock Companies & Firms by April 22 after finalisation of the prescribed Memorandum and Articles of Association for their registration as PLC.
Following the registration and issuance of licences by the central bank, the government will issue a gazette notification by the end of June '07 in this connection.