'Road show' today in KL to woo potential buyers of Rupali Bank
Over 20 firms show interest to buy the state-run bank
Rejaul Karim Byron
More than 20 firms including banks and non-banking financial institutions have showed interest to buy state-run Rupali Bank as the Privatisation Commission holds a 'road show' in Kuala Lumpur today to woo potential buyers of the bank.As part of the privatisation process, the commission will hold two other 'road shows' in Mumbai and Karachi by March 19. A delegation led by Privatisation Commission Chairman Enam Ahmed Chowdhury left Dhaka yesterday to hold the road shows. The other members of the delegation include Siddiqur Rahman, finance secretary, Nazrul Huda, deputy governor of Bangladesh Bank, Abdul Hamid Miah, managing director of Rupali Bank, and MH Farhad Khan, director general of Prime Minister's Office. In the 'road shows', the organisers will introduce the present status of the bank, the government's role in sale process, and the banking and financial system in Bangladesh to the potential buyers. The companies, which have already showed interest to buy the bank, include AmBank, Alliance Bank, Alliance Bank Malaysia and Melewar Group from Malaysia while United Bank Limited, Bank Alfalah Limited, Arif-Habib Investments and Habib Bank Limited from Pakistan. Besides, India's ICICI Bank, Sabre Capital Limited and State Bank of India while the UAE's Dhabi Group, Muscat Finance Limited and Prince Bank showed interest. Another delegation led by Chowdhury will leave Dhaka before March 21 to hold two other 'road shows' in London and Dubai from March 21 to 29. The other members of the delegation include Khondker Shahidul Islam, secretary to Prime Minister's Office, Mohammad A (Rumi) Ali, deputy governor of Bangladesh Bank, Abdul Hamid Miah, managing director of Rupali Bank, and Sayful Alam, consultant of Privatisation Commission. Sources said around Tk 40 lakh will be spent on holding the road shows. The World Bank is financing the events. However, a member of the Privatisation Commission said there is no justification to hold such 'road shows' in foreign countries spending a huge amount of money for selling the bank. "The road shows can be held in the country," he added. However, an official of the commission argued, "The road shows are being organised as per the prescription of the World Bank." The World Bank thinks that the government itself should reach investors to earn their confidence, he added.
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