Regulatory Alerts2024-07-18
Added · Updated
BRPD Circular Letter No. 33: Appointment of Independent Directors of a Bank-Company and their Duties, Responsibilities and Honorarium
The Bangladesh Bank replaces paragraphs 4(g) and 4(h) of BRPD Circular No. 03/2024 regarding the qualifications for appointing independent directors of bank-companies. The amendment specifies that candidates must hold a bachelor's or master's degree in banking, finance, business administration, law, or accounting, with specific relaxations for former managing directors or chartered accountants. Priority is given to experienced educators, legal professionals, bankers, and government officials, while digital bank appointments recognize IT education as an additional qualification. These directives are issued under Section 15(9) of the Bank Companies Act, 1991, and take immediate effect.
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