"No official or employee of the Rupali Bank will be terminated after the sale of the bank, but if someone wants to leave, he can avail of the opportunity of golden handshake," Enam Ahmed Chaudhury, Privatisation Commission chairman, told reporters after a meeting with the Saudi delegation at his office.

On behalf of Saudi Prince Bandar Bin Mohammad Bin Abdul Rahman Al Saud, a business tycoon, the delegation will submit tender documents to buy the bank. Yousuf Hamed Garzal, the prime consultant to the prince, is leading the delegation.

"If the Saudis could get involved in the Rupali Bank system, the bank will be transformed into a first-class bank of international standard," Enam hoped.

He told the reporters that the Saudi investment team also expressed desire to invest in the country's promising sectors like tourism and power generation.

Seven companies from home and abroad were short-listed by the Privatisation Commission as potential buyers of the Rupali Bank. The process of handover of the bank will start at the end of August or in early September, the commission chief said.

Yousuf Hamed Garzal said they are very happy to be in this great country Bangladesh to make investment. The team also met a member of the Board of Investment and visited the head office of the Rupali Bank yesterday. They are scheduled to meet the Bangladesh Bank governor today.

On May 7, the commission approved the expressions of interest (EoI) submitted by the companies for taking over the Rupali Bank.

The companies are Domestic Investors Consortium, Summit Industrial & Mercantile Corporation (Pvt) Limited Bangladesh, National Housing

Finance and Investment Ltd and FMO Netherlands Development Finance Company (four companies jointly sent their EoI), State Bank of India,

Sabrie Capital Worldwide Ltd of Oman, Bank Muscat of Oman, Prince Bandar Bin Mohammad Abdur Rahman Al Saud of Saudi Arabia, Maa

International Investment Ltd of Malaysia and JJ Finance Ltd of the UK.