7 scheduled banks in Chattogram operating without a trade license

Seven scheduled banks in Chattogram City Corporation (CCC) area are presently operating without trade licenses, depriving the city corporation of revenue from this sector every year.

As per Table 2 (a) and 166 of the additional edition of Bangladesh Gazette 31 January 2016, it is compulsory for branches and ATM booths of banks to obtain trade license, but no scheduled bank has obtained a license.

The CCC has written to the authorities of the scheduled Sonali, Rupali, Pubali, Janata, Uttara, BASIC and Agrani Banks to obtain trade licenses for all their respective branches in the city corporation area.

Mofidul Alam, chief revenue officer of CCC, told The Business Standard, "Scheduled banks are required to obtain CCC licenses. One week ago, I wrote to all the scheduled banks concerned to get their trade licenses. Of those banks, Rupali and Agrani Bank have collected licenses.

Mentioning that CCC does not currently have data on the number of branches and ATM booths of the scheduled banks, he said the exact number will be known when the banks get trade licenses.

According to CCC sources, the private banks in the CCC area have obtained trade licenses, but despite repeated requests, the scheduled banks have still not collected them.

The fee is Tk10,000 for scheduled banks and financial institutions.

Naresh Chandra Basak, general manager, Pubali Bank, Chattogram Region, told The Business Standard that CCC sent a letter a week ago requesting them to obtain a trade license. The bank authorities have sent a letter to their head office for a decision in this regard.

Pubali Bank has 16 branches and four ATM booths in the CCC area, he added.

Md Jahangir Alam, general manager of Sonali Bank said that he had also received a letter from CCC to obtain a trade license. Instructions to that effect have been conveyed to the branches concerned.