With the goal to open a new horizon in Bangladesh’s banking sector in the digital era, stakeholders have initiated the establishment of a new digital bank styled, ‘Amar Bank.’ Following Bangladesh Bank’s recent announcement, a formal application for a digital banking license was submitted on November 2.
SETU, a leading Non-Government Development Organisation (NGO) in Bangladesh, has taken the lead in it. The project is a large-scale financial and social cooperative effort, bringing together 19 NGOs and 25 potential investors in a single application to operate the digital bank. Dr. Moha. Abdul Quader executive Director of SETU led the process.
The primary objective of “Amar Bank” is to make the country’s conventional banking system more accessible, transparent and inclusive through modern, technology-driven digital financial services. Through this initiative, it is expected that even the remote rural population will gain access to banking facilities via mobile and online platforms, starting from urban areas.
Abdul Quader said that by integrating technology with human resources, it is possible to build an efficient, secure, and user-friendly banking experience. ‘Amar Bank’ represents a significant step toward that vision.”
The participating NGOs have long been working in social development, microfinance, women entrepreneurship development, and strengthening the rural economy. Meanwhile, the investors include economists, entrepreneurs, and technology experts.
Once approved by Bangladesh Bank, “Amar Bank” is expected to formally commence its banking operations.
According to the institution’s plan, the bank will initially operate entirely on a digital platform—where customer onboarding, transactions, loan management, and savings will all be online-based, paperless, and fast.
Experts believe this step will open new possibilities in Bangladesh’s financial sector.
Dr. Moha. Abdul Kader further stated that, in alignment with the Digital Bangladesh vision, “Amar Bank” could become a cornerstone for financial inclusion and smart banking in the country.
Aman/