Regulatory Alerts2011-06-19
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BRPD Circular Letter No. 08: Regarding formation of audit committee of Bank's executive committee
The document increases the maximum number of members in the audit committee of a bank's executive committee from three to five. This amendment applies to all banks operating in Bangladesh and supersedes the previous limit set in BRPD Circular No. 12 dated December 23, 2002. The directive takes immediate effect, while other provisions of the referenced circular remain unchanged.
Banking Regulation and Policy Department Bangladesh Bank Head Office, Dhaka. BRPD Circular Letter No. 08 June 19, 2011 Date: ------------------- 5 Asharh, 1418
To, All Chief Executives, All Banks operating in Bangladesh.
Dear Sir,
Formation of Audit Committee of the Bank's Executive Committee
With reference to Serial No. 4(1) of BRPD Circular No. 12 dated December 23, 2002, on the above-mentioned subject, the number of members of the Audit Committee of the Bank's Executive Committee is hereby revised from 03 (three) to a maximum of 05 (five). It is noted that other clauses/sub-clauses mentioned in the said circular shall remain unchanged.
This directive shall come into force immediately.
Yours faithfully,
(K. M. Abdul Wadud) General Manager Phone: 7117825
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