BRPD Circular Letter No. 06: Exemption from Compliance with Sections 14A, 26A and 23(1)(A) of the Bank Company Act, 1991

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Banking Regulation and Policy Department Bangladesh Bank Head Office Dhaka. BRPD Circular Letter No. 06 25 Baishakh 1425 Date: ----------------------- 08 May 2018 Chief Executive All Scheduled Banks Operating in Bangladesh Dear Sir, Subject: Regarding exemption from compliance with the provisions of Section 14A, Section 26A and Section 23 (1) (A) of the Bank Company Act, 1991. A copy of Notification No. BRPD (R-1)-717/2018-2942 issued by Bangladesh Bank on 07 May 2018 on the above subject is enclosed herewith for your information and necessary action. Yours faithfully, Attachment: 01 (One) (Abu Farah Md. Naser) General Manager Phone-9530252

Banking Regulation and Policy Department Bangladesh Bank Head Office Dhaka. Notification No. BRPD(R-1)717/2018-2942 24 Baishakh 1425 Date: ----------------------- 07 May 2018 By virtue of the power conferred by Section 121 of the Bank Company Act, 1991 (Act No. 14 of 1991), Sonali Bank Ltd., Janata Bank Ltd., Agrani Bank Ltd. and Rupali Bank Ltd. operating in Bangladesh are hereby generally exempted from compliance with the provisions of Section 14A and Section 26A of the Bank Company Act, 1991, in respect of purchasing and holding shares of The Farmers Bank Ltd. Furthermore, by virtue of the power conferred by Section 121 of the same Act, Sonali Bank Ltd., Janata Bank Ltd., Agrani Bank Ltd., Rupali Bank Ltd. and Investment Corporation of Bangladesh are hereby generally exempted from compliance with the provisions of Section 23 (1) (A) of the Bank Company Act, 1991, in respect of appointing their CEOs/Managing Directors as nominee directors on the board of The Farmers Bank Ltd.

Fazle Kabir
Governor
Bangladesh Bank