The Daily Corporate Desk
Dhaka, 31 August 2026: Bangladesh is moving closer to launching its next generation of banking services, with eight digital bank applicants set to be placed before the Bangladesh Bank Board for final licensing approval.
The central bank has reportedly completed the final-stage assessment of eight applicants selected from 12 proposals submitted in the second round of applications. The names of the eight shortlisted institutions, however, have not yet been disclosed.
Unlike conventional banks, digital banks will operate without physical branches, sub-branches or their own ATM networks. Customers will be able to open accounts, deposit and transfer money, make payments and apply for loans primarily through digital platforms and mobile devices.
The proposed institutions are also expected to offer technology-driven services such as virtual cards, QR-based payments and digital lending, with a focus on providing faster and lower-cost financial services.
The initiative is particularly aimed at expanding financial inclusion among rural communities, young entrepreneurs, small businesses and people who remain outside the formal banking system.
Diverse group of investors
The second-round applicants include companies and consortiums backed by businesses from the telecommunications, mobile financial services, technology, microfinance and traditional corporate sectors.
Among the applicants are Robi Axiata’s Boost, Nova Digital Bank—a joint initiative of Banglalink and Square, Akij Resource-backed Munafa Islami Digital Bank, ASA-backed Maitree Digital Bank, Amar Digital Bank-22, 36 Digital Bank, British-Bangla Digital Bank, Digital Banking of Bhutan backed by Bhutan’s DK Bank, App Bank, Japan-Bangla Digital Bank, Upokari Digital Bank and bKash Digital Bank.
However, Bangladesh Bank officials have yet to reveal which eight applicants have been selected for presentation to the board.
Assessment focused on capital, technology and cybersecurity
The move follows an initiative first introduced in 2023, which subsequently went through several rounds of scrutiny, regulatory changes and licensing complications.
During the selection process, Bangladesh Bank assessed applicants on a range of factors, including capital strength, the experience of sponsors, technological capabilities, cybersecurity arrangements and compliance with regulatory requirements.
Bangladesh Bank Executive Director and spokesperson Arif Hossain Khan said the evaluation of eight applicants from the second round had reached its final stage.
The proposals are expected to be placed at the next meeting of the Bangladesh Bank Board, where the central bank will consider granting the final licences.
If approved, the new digital banks could significantly reshape Bangladesh’s financial services landscape by increasing competition, expanding digital access and creating new channels for underserved customers and small businesses to participate in the formal financial system.
