The New Nation - Internet Edition

Bdnews24.com, Dhaka

Ismaili Muslims leader Prince Karim Aga Khan has shown interest to buy state-owned Rupali Bank, finance adviser AB Mirza Azizul Islam said yesterday.

"The Aga Khan wants to invest in the banking sector and was particularly interested in buying Rupali Bank," Mirza Aziz told bdnews24.com by phone. The adviser said the Aga Khan had expressed his interest in a Tuesday meeting with him.

"We talked about the economic situation and investment atmosphere in Bangladesh. I briefed him on the current state of Rupali Bank when he showed interest to buy it."

On the process of selling Rupali Bank, the adviser said:

"Fresh bids will be invited. The Privatization Commission will take necessary steps."

A final decision will be taken on the matter in talks with the top brass of the government, the adviser said.

The Aga Khan arrived in Bangladesh Monday on a four-day state visit, meant to mark the golden jubilee of his takeover as head of the Ismaili Muslims.

He is the chairman of Aga Khan Development Network. The company took up a $40 crore project for Afghanistan.

The government decided in principle to turn Rupali Bank into a public limited company after a plan to sell it to Saudi Prince Bandar Bin Mohammad Bin Abdul Rahman Al Saud fell apart.

Since the government decided to privatise the bank in 2003, opening new branches, loan disbursement and recruitment have remained off.

The government in March scrapped the deal with the Saudi prince on the Rupali Bank as he had dithered over the takeover process for one and half years.

The Privatization Commission at that time blamed the Saudi Prince for breaching a primary agreement by not signing the sales and purchase agreement.