BRD Order No. 01: Application of the Provisions of the Bank Resolution Ordinance, 2023 to Licensed Finance Companies

Bangladesh Bank declares that the Rules of the Bank Resolution Ordinance, 2023, with necessary modifications, apply mutatis mutandis to all licensed finance companies under the Finance Companies Act, 2023. This declaration is made under Section 15 of the Bank Resolution Ordinance, 2023 to safeguard financial stability and protect public interest regarding businesses conducted by finance companies. The order was issued on December 21, 2023, by the Director of the Bank Regulation Department.

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Bangladesh Bank
(Central Bank of Bangladesh)
Head Office
Motijheel, Dhaka-1000
Bangladesh.

Bank Regulation Department

Order

Date: 06 Poush 1430
21 December, 2023

BRD Order No.-01

Regarding the application of the Rules of the Bank Resolution Ordinance, 2023 to Licensed Companies under the Finance Companies Act, 2023

Bangladesh Bank, exercising the powers conferred under Section 15 of the Bank Resolution Ordinance, 2023 (Ordinance No. 19 of 2023), and considering it necessary for maintaining financial stability and protecting public interest concerning the business and activities conducted by Finance Companies, hereby declares that the Rules of the Bank Resolution Ordinance, 2023 (Ordinance No. 19 of 2023) regarding the resolution of Scheduled Banks, with necessary modifications (Mutatis Mutandis), shall apply to all licensed Finance Companies under the Finance Companies Act, 2023.

By Order of Bangladesh Bank,

(Signature)
(Md. Asaduzzaman Khan)
Director (BRD)
Phone: 55665001-6/22289

Phone: 88-02-9550448, 9554896, IP: 88-02-55665001-6, Fax: 88-02-9530479, Web: www.bb.org.bd

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Lineage: In force

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Source: Bangladesh Bank — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works