BM Desk

Queen South Textile Mills Limited, and MK Footwear PLC are getting ready to invest in the digital banking sector. This decision has been taken by the board of directors of the companies.

Both companies are listed on the main market of the Dhaka Stock Exchange (DSE). The approval of the members in investing in a proposed digital bank called ‘Open Digital Bank PLC’ has also been taken in the meeting of the separate board of directors of the two companies.

According to the company information, the proposed bank will have a paid-up capital of Tk 125 crore. Textile sector’s company South Textile will invest Tk 12.5 crore to become an entrepreneurial shareholder, which is 10 percent of the total paid-up capital of the bank. On the other hand, the board of SME sector’s company MK Footwear has decided to invest Tk 6 crore and 25 lakh, which is 5 percent of the total paid-up capital of the bank, to become the entrepreneurial shareholder of the proposed bank.