Regulatory Alerts2024-06-03
Added · Updated
BRPD Circular Letter No. 26: Exemption from Compliance of Section 14(ka)(1) of the Bank Company Act, 1991
The Bangladesh Bank declares that Section 14(ka)(1) of the Bank Company Act, 1991, does not apply to the shareholding of Nagad Digital Bank PLC by Hoveen Ventures LLC, Series Capital Partners LLC, and Finclosure Ventures Pvt Ltd. This declaration is issued pursuant to the powers granted under Section 121 of the Act and is supported by Notification No. BRPD(D-1)/DBU/907(DB-01)/2024-4646 dated June 3, 2024. The notification is attached for the information of all scheduled banks operating in Bangladesh.
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