Bangladesh

The proponents of the new banks argue that the new operators will infuse more competition into the banking industry and thus bring benefits to the clients. "The (Bangladesh Bank) Board has finalized a set of guidelines including new conditions with the older regulations," said A F M Asaduzzaman, a deputy general manager in the governor's office. "The old regulations have been amended substantially. Later, a senior official who did not want to be named said the new banks would require a minimum paid-up capital of Tk 400 crore from its sponsors. "And in three years, they have to go public," said the official, who attended the Board meeting, "and raise an amount equal to the paid-up capital." The official said the new guidelines took a tough line against "loan and tax defaulters" and would not allow anyone even with a family member having such a record. Those criticizing the move say the already overcrowded market does not need new ones ...

"I don't understand why the names of those who devastated hundreds of thousands of small investors by looting money from the share market won't be made public officially."Jatyia Party chairman H M Ershad, a key ally of the ruling alliance, says he is surprised as the finance minister declined to disclose the names of those responsible for the recent share market debacle. Hours after the stocks probe committee submitted the report to the finance minister on Thursday, Muhith declined to disclose the names that were mentioned in the report since the committee has recommended further investigation. The deposed military dictator urged the government to give exemplary punishment of those responsible for the stocks crash and compensation for the investors who suffered the losses. "The government will be in trouble if anyone responsible for the stocks debacle goes unpunished," he said.