Regulatory Alerts2018-07-30
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BRPD Circular Letter No. 17: Waiver from section 14Ka(1) of the Bank-Company Act, 1991
The Bangladesh Bank waives the application of section 14Ka(1) of the Bank-Company Act, 1991, regarding the holding of shares by the Bangladesh Bank Wage Earners Welfare Fund in the Workers Welfare Bank. This exemption is granted under the powers conferred by section 121 of the Act and is effective as of July 30, 2018. The circular directs all scheduled banks operating in Bangladesh to take necessary action based on the attached notification.
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