Regulatory Alerts2014-12-23
Added · Updated
Appointment and Responsibilities of Chief Executive of a Bank-Company
The proviso regarding the appointment of a Chief Executive Officer in BRPD Circular Letter No. 18 is replaced to state that Bangladesh Bank's decision on CEO appointment is final and removal requires prior approval. Bank companies must provide at least one month's notice with reasons to the Board and Bangladesh Bank for voluntary resignation or board-initiated termination. If the CEO position becomes vacant, the bank must immediately appoint a CEO In-charge from the next level of officials for a maximum of three months and notify Bangladesh Bank.
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