In a groundbreaking move towards financial innovation, the Bangladesh Bank has granted digital banking licenses to two out of 52 applicants, marking a significant stride in enhancing access to finance. Among the pioneers in this digital banking revolution are Nagad Digital Bank and Kori Digital Bank of ACI.
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The Rise of Kori Digital Bank
Leadership at the Helm: At the forefront of Kori Digital Bank is Habibullah N Karim, the esteemed chairman, bringing a wealth of experience to the table. His notable background includes being the husband of former finance secretary Fatima Yasmin, who currently holds the position of vice president at the Asian Development Bank.
Sponsorship Powerhouses: Kori Digital Bank boasts sponsorship from prominent conglomerates such as ACI Ispahani, Paragon, Transcom, Square Group, and some other individuals, adding considerable weight to its foundation. The distinguished sponsors include Rubana Huq, the chairman of Mohammadi Group, and Kamran T Rahman, chairman of the Kapna Tea Company and former president of Bangladesh Employers’ Federation, IT entrepreneur Habibullah N Karim, former managing director of MTB Anis A Khan, Raihan Shamsi and ASM Mainuddin Monem of Abdul Monem Limited.
Accelerating Financial Inclusion
With the issuance of letters of intent by the Bangladesh Bank, Kori Digital Bank is poised to play a pivotal role in expanding people’s access to finance. The digital banking license is a testament to the bank’s commitment to embracing cutting-edge technology for the benefit of its customers.
Visionaries and Decision-Makers
As the sponsors of Kori Digital Bank, including renowned conglomerates and influential individuals, come together, the next steps involve strategic decisions on capital raising and infrastructure development within the stipulated deadlines. Monir Hossain Khan, the finance director of ACI Group, highlights the collaborative efforts to chart the course for Kori Digital’s future.
Towards a Digital Financial Landscape
Kori Digital Bank’s entry into the digital banking sphere aligns with global trends, where traditional banking models are evolving to meet the demands of a tech-savvy and interconnected world. The transformative impact of digital banking promises not only increased accessibility but also greater efficiency and convenience for users.
A Future of Financial Innovation
As Kori Digital Bank sets out on this revolutionary journey, the financial landscape in Bangladesh is on the brink of a transformation. With visionary leadership, robust sponsorship, and a commitment to leveraging technology, Kori Digital Bank stands as a beacon of financial innovation, heralding a future where digital banking becomes synonymous with financial inclusion and empowerment.