BRPD Circular Letter No. 17: Waiver from section 14Ka(1) of the Bank-Company Act, 1991

Banking Regulation and Policy Department Bangladesh Bank Head Office Dhaka. BRPD Circular Letter No. 17 Date: 15 Srabon 1425 30 July 2018 Managing Director / Chief Executive All Scheduled Banks operating in Bangladesh.

Dear Sir,

Regarding the waiver from section 14Ka(1) of the Bank-Company Act, 1991 (as amended up to 2018).

It is informed for your information that the Bangladesh Bank Wage Earners Welfare Fund has declared that section 14Ka(1) of the said Act will not apply in the case of holding shares of the "Workers Welfare Bank" under the powers conferred by section 121 of the Bank-Company Act, 1991 (as amended up to 2018). A copy of the notification No. BRPD(P-3)/745(56)/2018-5488 issued on July 30, 2018, regarding this matter is enclosed herewith for your information and necessary action.

Enclosure: 1 (one) page.

Yours faithfully,

(Abu Farah Md. Naser) General Manager Phone: 9530252. Dn: BRPD.GM

Bangladesh Bank Notification Date: 30 July 2018 corresponding to 15 Srabon 1425 No. BRPD(P-3)/745(56)/2018-5488 Under the powers conferred by section 121 of the Bank-Company Act, 1991 (as amended up to 2018), the Bangladesh Bank Wage Earners Welfare Fund has declared that section 14Ka(1) of the said Act will not apply in the case of holding shares of the "Workers Welfare Bank".

(Abu Hena Moha. Rajee Hasan) Deputy Governor