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Overseas investor may buy stake in Bangladesh-based financial services firm

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Overseas investor may buy stake in Bangladesh-based financial services firm

An overseas investor plans to acquire a minority stake in Bangladesh-based bKash Ltd., a mobile financial service provider, The Daily Star reported Oct. 11, citing an announcement by BRAC Bank, which owns a 51% stake in the company.

BRAC Bank Ltd. said in a bourse release that the financial service provider entered into a nonbinding agreement under which a strategic investor may acquire a minority shareholding in bKash.

The potential deal is subject to regulatory requirements, among other things.

bKash officials declined to comment on the matter.

bKash commenced operations as a joint venture between BRAC Bank and Money in Motion LLC USA.