Regulatory Alerts2018-05-08
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BRPD Circular Letter No. 06: Exemption from Compliance with Sections 14A, 26A and 23(1)(A) of the Bank Company Act, 1991
Bangladesh Bank has granted a general exemption to Sonali Bank Ltd., Janata Bank Ltd., Agrani Bank Ltd., and Rupali Bank Ltd. from complying with Sections 14A and 26A of the Bank Company Act, 1991, for purchasing and holding shares of The Farmers Bank Ltd. Additionally, these four banks and Investment Corporation of Bangladesh are exempted from Section 23(1)(A) of the same Act, allowing their CEOs/Managing Directors to be appointed as nominee directors on the board of The Farmers Bank Ltd. This exemption was issued via a notification dated May 07, 2018.
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