Regulatory Alerts2022-09-05
Added
BRPD Circular Letter No. 35: Regarding Cost Minimization and Practising Austerities
The BRPD issues directives to all scheduled banks operating in Bangladesh to maintain cost minimization measures in response to economic shocks from the COVID-19 pandemic and the Russia-Ukraine war. Banks are required to reduce fuel usage by at least 20 percent and electricity consumption by at least 25 percent, while taking exemplary action against misuse such as unauthorized personal use of official vehicles and unnecessary operation of climate control or electrical appliances. These instructions are issued under the powers granted by Section 45 of the Bank Company Act, 1991.
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