Regulatory Alerts2022-12-07
Added
BRPD Circular Letter No. 48: Avoidance of High Expense for Luxurious Vehicles, Decoration and other Matters
The Bangladesh Bank amends previous directives by extending the minimum operational lifespan for replacement of vehicles purchased for the Chairman and Chief Executive Officer, as well as other official bank use, from five years to eight years. This change aligns with a government order regarding vehicle lifespan, while maintaining the existing ban on new vehicle purchases for the current fiscal year and keeping all other instructions from Circular Letter No. 18/2019 unchanged. These instructions are issued under Section 45 of the Companies Act, 1991, and take immediate effect.
Topics
Share