Regulatory Alerts2013-10-27
Added · Updated
Appointment and Responsibilities of Chief Executive of a Bank-Company
The document establishes mandatory criteria for appointing the Chief Executive of bank companies in Bangladesh, excluding specialized banks. It requires candidates to have at least 15 years of banking experience, two years in a role immediately below CEO, a master's degree, and no criminal convictions or financial defaults, with an age limit of 65 years. The tenure is set for at least three years, renewable, and prior approval from Bangladesh Bank is required before appointment or dismissal. The circular also defines the CEO's duties, including compliance with laws, reporting violations, and authority over staff recruitment and discipline, while capping incentive bonuses at Taka 10 lacs per year and prohibiting other indirect facilities.
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