Regulatory Alerts2024-05-12
Added
BRPD Circular Letter No. 21: Formation of Board of Directors and Sub-Committee of Bank-Company and their functions
The document clarifies that scheduled banks in Bangladesh are prohibited from forming any permanent, temporary, or sub-committees other than the Executive, Audit, and Risk Management Committees mandated by the Bank-Company Act, 1991. Consequently, the functions previously assigned to the Corporate Governance Implementation Committee (CGIC) under Bangladesh Securities and Exchange Commission regulations are transferred to the bank's Audit Committee, subject to subsequent Board approval. Matters regarding the appointment, remuneration, and benefits of directors and senior management continue to be governed by BRPD Circular Letters No. 02, 03, and 05 dated February 2024.
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