To Setup Banking and Finance Business in Bangladesh can be a significant test remembering the intricacies of the registration technique just as getting the license from Bangladesh. Bank Company Act, 1991, approves Bangladesh Bank to give licenses to do banking business in Bangladesh. According to segment 31 of the Act, prior to conceding a license, Bangladesh Bank should be fulfilled that: ” the institution is or will be in a situation to meet its commitments to investors in full as their cases gather; the undertakings of the institution are not being or alternately are not liable to be led in a way unfavorable to the premium of its present and future contributors.” 

As iterated above, finance institutions remember banks and any remaining finance institutions for their ambit. In any case, the method of setting up a bank and other financial institutions are fairly not quite the same as one another. 

1. As per Section 31 of the Banking Organizations Act, 1991, no institution will complete financial business in Bangladesh without acquiring a license from Bangladesh Bank.

2. The New Commercial Bank should be a public restricted institution fused in Bangladesh. The settled-up capital of the new ad bank will not be not according to the guideline of the Banking Company Act 1991 and the settled-up capital should be held in unrestricted structure.

3. Shareholders/Directors and the CEO should give their own subtleties, which should incorporate, among others, the accompanying: a) Full Name b) Date of Birth c) Place of Birth d) Citizenship subtleties, including Passport number and spot of issue e,) Full Address, incorporating extremely durable and present with phone number f) Marital Status, g) Education, h) Present Occupation and I) Tax Identification Number. 

4. Formation of the Memorandum and Articles of Organization and will apply for endorsement from the Bangladesh Bank.

5. Submission of Joint Venture Agreement if unfamiliar investors are involved.

6. Apply for Registration of the proposed institution at the Registrar of Joint Stock Companies (RJSC) under the Companies Act, 1994, as a Public Limited Company by presenting every one of the important records and the public authority expenses and acquiring a Certificate of Incorporation from RJSC. 

7. Obtain a license from Bangladesh Bank.

8. Obtain VAT, TIN declaration from National Board of Revenue, and Trade License from the City Corporation. 

9. After getting the license from Bangladesh Bank, the institution will apply to Bangladesh Bank for its planning under Article 37 of the Bangladesh Bank Order, 1972.

The following 6 steps should be fulfilled prior to To Setup Banking and Finance Business in Bangladesh

1. Obtain name freedom from Bangladesh Bank 

2. Share Holder or Directors individual Details 

3. Formation of a Memorandum and take endorsement from Bangladesh Bank. 

4. Apply for Registration of the proposed institution at the Registrar of Joint Stock Companies (RJSC) under the Companies Act, 1994, as a Public Limited Company by presenting every one of the important records and the public authority expenses and acquiring a Certificate of Incorporation from RJSC 

5. Obtaining a license from Bangladesh Bank 

6. Obtain VAT, a TIN certificate from the National Board of Revenue, and a Trade License from the City Corporation. 

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