Business Desk :
The Bangladesh Securities and Exchange Commission has asked five banks to take necessary steps for listing with the country’s bourses.
The stock market regulator sent separate letters on February 17 to the banks in this regard, namely Meghna Bank, Midland Bank, Modhumoti Bank, NRB Bank and Shimanto Bank Limited.
Of the five banks, Shimanto Bank began its operations in 2016 and the other four banks in 2013.
In 2013, the central bank gave licences to nine banks on the condition that the banks would get listed on the stock exchanges in three years of their commercial operations start.
The BSEC letters sent to the five banks said that the banks had been in business in the country for a long time without complying with the Bangladesh Bank’s condition.
Therefore, the banks are asked to inform the BSEC after taking necessary steps on offloading shares on the stock market, it said.
Of the nine banks licenced in 2013, the NRB Commercial Bank was the first bank to get listed on the country’s stock market on March 22 last year, after the enlistment of First Security Islami Bank in 2008.
Afterward, South Bangla Agriculture and Commerce Bank Limited and Union Bank Limited were listed on the stock market while Global Islami Bank has filed documents to BSEC to get initial public offering approval.
The BSEC did not issue any letter to Padma Bank, formerly known as Farmers Bank, to get enlisted with the stock exchanges.
