Cricketer Shakib Al Hasan is set to gain control over two directorships of the proposed Islamic Shariah-based People's Bank. Shakib and his mother Shirin Akhter's names have been sent to Bangladesh Bank for NOCs to clear their way for bank directorship. Read: Filmmaker Srijit Mukherji wants to make biopic on Shakib Al Hasan MA Kashem, chief sponsor of the proposed bank, confirmed the information on Wednesday. Similarly, the concerned officials of Bangladesh Bank also verified it is true. However, the bank has not yet received the required banking license from Bangladesh Bank. Experts have for quite some time voiced a view that the number of banks in the country is too high, and rather than inducting new players, there is a need for consolidation in the sector.  Once finalized, People's Bank will conduct Shariah-compliant banking activities. Read: Shakib’s inner child comes out on rain-soaked day To be a member of the bank's board of directors as an entrepreneur, it needs to hold a minimum of 2% share. As such, Shakib will have to provide a minimum capital of Tk 10 crore for each post of director of People's Bank. It is learned that Shakib Al Hasan is providing more than Tk 25 crore for directorship of the bank. Earlier, Shakib Al Hasan secured licenses for a brokerage house and gold trading.

The capital markets will follow the banking sector's lead in operation during the pandemic of Covid-19. This was informed by the Bangladesh Securities and Exchange Commission (BSEC) against the backdrop of different rumors since news broke of the lockdown to be imposed by the government from Monday next. A notice posted on the official website of the BSEC said: "Capital market will continue operation at the interest of investors in any situation during the pandemic of Covid-19 if the banking activities continue." It said all transactions in the capital market will continue in the interest of investors. Also read: Govt to enforce 7-day lockdown from Monday: Quader It urged the investors to pay no heed to any sort of rumors. According to BSEC sources, if the bank is open in lockdown, the capital market will also be open. This instruction has been given to two stock exchanges (Dhaka and Chittagong). Also read: Covid-19: Bangladesh sees 5,638 cases, 58 more deaths They said, the commission has instructed DSE to keep the capital market open if banks are open. The capital market will operate utilising smaller shifts and work-from-home facilities. Earlier, from March 26 to May 31 last year, transactions in the capital market were closed due to the outbreak of coronavirus.