Shimanto Bank has been granted an extension until June 2026 to raise capital through an Initial Public Offering (IPO) and enter the stock market. Despite repeated attempts, the bank could not meet the stipulated timeline and sought extensions five times.
The decision was made at the 438th meeting of Bangladesh Bank’s Board of Directors on Sunday.
Husne Ara Shikha, Executive Director and spokesperson of the central bank, shared the information following the central bank's board meeting.
The meeting also approved several other important agendas.
IMF suggests upward policy rate in 2025 to restrain inflation: BB
Among them was the introduction of new banknotes with updated designs and features, aimed at enhancing currency security and aesthetics.
Additionally, the board sanctioned a proposal to appoint a Chief Economist for Bangladesh Bank on a contractual basis, reflecting efforts to strengthen the institution’s policy-making capacity.
The Bangladesh Security Printing Press was also granted permission to manage its recruitment processes independently.
However, the board rejected a proposal to revise the interest rate on the euro deposit provided by Bangladesh Bank to Sonali Bank PLC for the implementation of the Ramnabad Channel dredging project at Payra Port. As a result, the interest rate will remain unchanged.