The Bangladesh Bank plans to sell the beleaguered Oriental Bank, sources in the central bank said. Foreign and local buyers are showing interest in Oriental, as it is the last chance for them to own a private bank, one of the sources said. As the central bank is unlikely to issue a new licence for commercial banking in near future, the bid could run up to several hundred crores of takas.

If and when Oriental gets a new owner, the central bank will withdraw its administrator and hand over its operations to the new management, he added. The central bank will ensure that the new management is efficient enough to deal with the banks problems in near and distant future. The central bank did some homework and within three months Oriental can be handed over to a new owner.