Regulatory Alerts2013-10-27
Added · Updated
BRPD Circular Letter No. 19: Contractual Appointment of Advisor and Consultant for Bank-Company
Bangladesh Bank mandates specific guidelines for the contractual appointment of advisors and consultants by bank companies. Advisors require prior approval from the regulator, must have at least 15 years of experience, and are restricted to specified advisory roles without decision-making power or regular employee benefits, with a maximum tenure of one year. Consultants are appointed by Board approval for specialized tasks, cannot exercise operational power, and are limited to a two-year tenure with lump-sum remuneration. Former bank officials are barred from immediate reappointment as either role, requiring a one-year cooling-off period after retirement or resignation.
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