Regulatory Alerts2018-10-09
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BRPD Circular Letter No. 20: Exemption from compliance of section 26KA(1)(kha) of the Bank Company Act, 1991 in case of investment in ICB's subordinated bond only
The document attaches a notification issued by Bangladesh Bank on October 9, 2018 (Ref: BRPD 651/9(Law)/2018-7575) to inform scheduled banks regarding an exemption from Section 26KA(1)(kha) of the Bank Company Act, 1991 for investments in subordinated bonds issued by Investment Corporation of Bangladesh (ICB). Banks are requested to take necessary action based on this attached notification.
Banking Regulation and Policy Department Bangladesh Bank Head Office Dhaka. Ref No.: BRPD BRPD Circular Letter No.-20
24 Ashwin 1425 Date: --------------- 9 October 2018 Managing Director / Chief Executive Officer All Scheduled Banks operating in Bangladesh. Dear Sir,
Regarding the exemption granted to interested bank companies from compliance with Section 26KA(1)(kha) of the Bank Company Act, 1991 in case of investment in subordinated bonds issued by ICB.
In this regard, a copy of the Notification No. BRPD 651/9(Law)/2018-7575 issued by Bangladesh Bank on October 9, 2018 is enclosed herewith for your information and necessary action.
Enclosure: 01 (One) page. Yours faithfully,
(Abu Farah Md. Nasir) General Manager Phone: 9530252
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