WHEREAS, it has become necessary to raise the minimum paid-up capital required for banks and further improve financial resilience and soundness of banks and the banking system;

WHEREAS, existence of strong, capable and well capitalized banks is necessary for further mobilization of resources and meeting the financing needs of the growing national economy;

WHEREAS, it has become necessary to raise the minimum capital required to establish a new bank so that the newly established bank can operate and compete successfully with existing/new banks;

NOW, THEREFORE, in accordance with Articles 18(1) and 65 (2) of Banking Business Proclamation No. 592/2008 as amended by Proclamation No. 1159/2019, the National Bank has issued this Directive.