Agrani Bank, a nationalised commercial bank, on May 17 received a licence from the Registrar of Joint Stock Companies and Firms (RJSCF) to operate as a public limited company. However, the bank still requires approval from the central bank to run as a public limited company. The sources said the bank along with two other nationalised commercial banks-Sonali Bank and Janata Bank-applied for registration with the RJSCF and Securities and Exchange Commission (SEC) early last month to operate as public limited company.

The government had asked the banks’ managements to apply to the authorities concerned by April 22. Sonali Bank and Janata Bank are yet to receive the licences. After receiving consent from Bangladesh Bank, the bank’s name will be changed to Agrani Bank Limited. Agrani Bank recently reshuffled its board of directors and made former secretary Siddiqur Rahman chairman.