On behalf of Saudi Prince Bandar Bin Mohammad Bin Abdul Rahman Al Saud, one of the senior members of the Saudi Royal family and business tycoon, the delegation will submit tender form to lay a stake on the Rupali sale.

The Saudi prince is participating in the international tender with a high hope of investing about US$ 5/6 billion in Bangladesh's banking sector if the state-owned enterprise is finally handed over to his company.

Yousuf Hamed Garzal, the prime consultant to the prince, will lead the delegation, which is scheduled to hold dialogues with central bank authorities, privatisation commission and the management of Rupali Bank Ltd.

"The delegation will come to prepare the bidding documents," a competent source told the news agency. The tender will be opened next month.

Earlier, seven companies from home and abroad were short-listed by the Privatisation Commission as potential buyers of the bank.

On May 7, the commission approved the expressions of interest (EoI) submitted by these 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.